How Has the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Evolved Historically and What is its Current Size?
The industrial and commercial light-emitting diode (led) lighting market has seen considerable growth due to a variety of factors.
• The industrial and commercial light-emitting diode (LED) lighting market has grown rapidly in recent years. It will grow from $49.03 billion in 2024 to $58.73 billion in 2025, reflecting a CAGR of 19.8%.
This growth is driven by the increasing popularity of LED lighting in industries, demand for cost-saving and energy-efficient lighting, government programs promoting LED adoption, and the need to replace conventional lighting systems.
What Does Future Hold for The Industrial And Commercial Light-Emitting Diode (LED) Lighting Market By 2029?
The industrial and commercial light-emitting diode (led) lighting market is expected to maintain its strong growth trajectory in upcoming years.
• The industrial and commercial LED lighting market is expected to grow to $119.4 billion by 2029, at a CAGR of 19.4%.
The growth is due to declining LED manufacturing costs, intelligent lighting systems demand, increasing LED product traction, new construction, and mid-power LEDs for commercial indoor lighting. Trends include technological advancements, investments in industry-grade LEDs, infrastructure modernization, and evolving lighting technologies.
What Are The Primary Growth Drivers In The Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
The expansion of construction activities is expected to boost the industrial and commercial LED lighting market. Construction activities, including residential, commercial, and civil engineering projects, are increasing due to factors such as urbanization, population growth, and economic development. Industrial and commercial LED lighting provides efficient and sustainable solutions for both interior and exterior applications. According to the US Census Bureau, construction activity value is projected to grow by 10% from 2023 to 2024, driving the need for LED lighting solutions.
What Is The Segmentation Of The Global Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
The industrial and commercial light-emitting diode (LED) lighting market covered in this report is segmented –
1) By Product Type: LED Lamps, LED Fixtures
2) By Installation: New Installation, Retrofit
3) By Distribution Channel: Direct Sales, Wholesalers
4) By Application: Indoor Lighting, Outdoor Lighting
5) By End User: Commercial Offices, Retail, Hospitality And Leisure, Healthcare, Industrial, Architectural, Other End Users
Subsegments:
1) By LED Lamps: A-Type LED Lamps, Linear LED Lamps, PAR LED Lamps, Decorative LED Lamps
2) By LED Fixtures: Troffer LED Fixtures, High Bay LED Fixtures, Street LED Fixtures, Downlight LED Fixtures, Flood LED Fixtures
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What Trends Are Reshaping The Future Of The Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
Leading corporations in the industrial and commercial LED lighting market are turning their focus towards innovative lighting technologies such as LED grow lights. These solutions offer unparalleled energy efficiency and advanced light control for diverse industry and horticulture applications. For example, LED iBond A/S, a lighting solutions firm based in Denmark, in November 2023, introduced its 2nd generation of LED grow lights, specifically the HORTISABER LED grow lights, for use in industrial greenhouses. These newly launched grow lights promise substantial energy savings of up to 60% as compared to traditional grow light lamps, a critical factor for industrial greenhouses aiming to control energy use and cut costs. These new 6-meter long grow lights are ideal for larger industrial greenhouses, allowing for a more efficient utilization of space.
Who Are the Key Players In The Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
Major companies operating in the industrial and commercial light-emitting diode (LED) lighting market are:
• Samsung Electronics Co. Ltd.
• Panasonic Corporation
• Eaton Corporation plc
• Koninklijke Philips N.V.
• Stanley Black & Decker Inc.
• Signify Holding B.V.
• Osram Licht AG
• Hubbell Inc.
• Acuity Brands Inc.
• Havells India Ltd.
• Hafele Gmbh & Co.
• Zumtobel Group AG
• Lutron Electronics Co. Inc.
• Thorn Lighting Ltd.
• Cree Lighting USA LLC
• General Electric Lighting
• Dialight plc
• Progress Lighting
• Siteco GmbH
• Kichler Lighting LLC
• WAC Lighting
• LEDiL
• Maxim Lighting International Inc.
• Csl Lighting Inc.
What Are The Regional Insights Into The Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
North America was the largest region in the industrial and commercial light-emitting diode (LED) lighting market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the industrial and commercial light-emitting diode (LED) lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
