- LED
- Fluorescent
- Incandescent
- Halogen
Lighting Market size was valued at USD 81,897.8 million in 2023 and is poised to grow at a CAGR of 8.9% during 2024-2030. Asia Pacific region holds the largest market share. The growth of the market is driven by advanced lighting technologies, and a focus on sustainability, urbanization, and infrastructure development. Energy-efficient lighting solutions like LED lights are in high demand due to rising electricity costs and growing environmental concerns. Governments around the world are implementing regulations that promote energy-efficient lighting, further propelling the market. Rapid urbanization and growing infrastructure projects in developing countries are creating a demand for advanced lighting solutions for residential, commercial, and industrial sectors.
Advancements in LED technology, including chips, drivers, and luminaires, are making LED lighting more efficient, affordable, and long-lasting. Integration of smart lighting systems with the Internet of Things (IoT) is opening doors for new applications. However, some of the factors restraining the growth of the market include the high initial cost of installing LED lighting systems or smart lighting controls can be high, especially for large-scale projects, compatibility issues between different lighting control systems and existing electrical infrastructure can be a challenge, particularly for complex installations. Lack of awareness in some regions, about the benefits of advanced lighting solutions, are the factors which hinder market growth.
Lighting Market Recent Key Developments:
- In January 2023, Nichia Corporation, with Infineon Technologies AG launched an industry-first fully integrated micro-LED technology, a light engine for high-definition adaptive driving beam applications in the automotive industry that are safe and efficient.
- In May 2022, Signify a lighting company launched a new campaign for its EcoLink range of LED lighting products to the business sector, including airports and office buildings
Lighting Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
8.9%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Lighting Market Dynamics
The use of LED lighting is expanding into new sectors like horticulture, cold chain storage, and healthcare, creating immense opportunities in the lighting market. Focus on human-centric lighting that can adjust to suit human biological needs is gaining traction. This segment is expected to witness significant growth in the coming years. The integration of smart lighting systems with IoT and sensor technology is enabling features like remote control, dimming, and occupancy sensing, leading to increased energy savings and improved user experience. The demand for personalized lighting solutions that cater to individual needs and preferences is growing. This trend is driven by advancements in smart lighting technology. Growing economies in Asia Pacific and Africa are presenting lucrative markets for lighting manufacturers due to increasing urbanization and rising disposable incomes. Sustainability is a major trend in the lighting industry. Manufacturers are focusing on developing eco-friendly products and processes to reduce environmental impact.
Asia-Pacific Got Significant Share
Lighting Market Regional Analysis
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Asia Pacific region holds the largest market share and dominates the lighting market due to factors like rapid urbanization and infrastructure development in countries like China and India, growing focus on industrial development, and increasing disposable income, government initiatives promoting energy efficiency. North America & Europe these mature markets have a high adoption rate of LED lighting and are now focusing on smart lighting solutions and premium lighting for aesthetics. Latin America & the Middle East & Africa these regions are expected to show significant growth due to rising disposable income, infrastructure development, and increasing government support for energy-saving technologies. Growth patterns will vary depending on economic development, government policies, and consumer preferences in different regions
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The lighting market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.
Lighting Market Segmentation
By Type
By Product Type
- Bulbs
- Streetlights
- Downlights
- Tube Lights
- Flood Lights
- Others
By Application
- General
- Automotive
- Backlighting
- Others
By End User
- Residential
- Commercial
- Industrial
- Others
By Geography
- North America
- Europe
- GermanyThe Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The lighting market was valued at USD 81,897.8 million in 2023 and is projected to grow at a CAGR of 8.9%..
• Urbanization and growing commercial sectors. • Government's push for LED adoption and energy efficiency. • Increasing focus on smart lighting solutions.
Koninklijke Philips N.V., GENERAL ELECTRIC, Acuity Brands Lighting Inc., Cree Lighting (IDEAL INDUSTRIES INC.), Dialight, Digital Lumens Inc., Hubbell Light, Inc., LSI Industries Inc., Signify Holding, Semiconductor Co. Ltd. (Seoul Semiconductor), Nichia Corporation, Infineon Technologies AG Zumtobel Group Ag, LumiGrow, Panasonic Corporation, and Siteco GmbH
Asia-Pacific region is the dominant in the Lighting market.
| 1.Executive Summary |
| 2.Global Lighting Market Introduction |
| 2.1.Global Lighting Market - Taxonomy |
| 2.2.Global Lighting Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Product Type |
| 2.2.3.Application |
| 2.2.4.End User |
| 2.2.5.Region |
| 3.Global Lighting Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Lighting Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Lighting Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. LED |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Fluorescent |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Incandescent |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Halogen |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Lighting Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Bulbs |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Streetlights |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Downlights |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Tube Lights |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Flood Lights |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7.Global Lighting Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. General |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Automotive |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Backlighting |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Others |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8.Global Lighting Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Residential |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Commercial |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Industrial |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Others |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 9.Global Lighting Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10.North America Lighting Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.LED |
| 10.1.2.Fluorescent |
| 10.1.3.Incandescent |
| 10.1.4.Halogen |
| 10.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Bulbs |
| 10.2.2.Streetlights |
| 10.2.3.Downlights |
| 10.2.4.Tube Lights |
| 10.2.5.Flood Lights |
| 10.2.6.Others |
| 10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.General |
| 10.3.2.Automotive |
| 10.3.3.Backlighting |
| 10.3.4.Others |
| 10.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Residential |
| 10.4.2.Commercial |
| 10.4.3.Industrial |
| 10.4.4.Others |
| 10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11.Europe Lighting Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.LED |
| 11.1.2.Fluorescent |
| 11.1.3.Incandescent |
| 11.1.4.Halogen |
| 11.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Bulbs |
| 11.2.2.Streetlights |
| 11.2.3.Downlights |
| 11.2.4.Tube Lights |
| 11.2.5.Flood Lights |
| 11.2.6.Others |
| 11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.General |
| 11.3.2.Automotive |
| 11.3.3.Backlighting |
| 11.3.4.Others |
| 11.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.Residential |
| 11.4.2.Commercial |
| 11.4.3.Industrial |
| 11.4.4.Others |
| 11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 12.Asia Pacific (APAC) Lighting Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.LED |
| 12.1.2.Fluorescent |
| 12.1.3.Incandescent |
| 12.1.4.Halogen |
| 12.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Bulbs |
| 12.2.2.Streetlights |
| 12.2.3.Downlights |
| 12.2.4.Tube Lights |
| 12.2.5.Flood Lights |
| 12.2.6.Others |
| 12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.General |
| 12.3.2.Automotive |
| 12.3.3.Backlighting |
| 12.3.4.Others |
| 12.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.Residential |
| 12.4.2.Commercial |
| 12.4.3.Industrial |
| 12.4.4.Others |
| 12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13.Middle East and Africa (MEA) Lighting Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.LED |
| 13.1.2.Fluorescent |
| 13.1.3.Incandescent |
| 13.1.4.Halogen |
| 13.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Bulbs |
| 13.2.2.Streetlights |
| 13.2.3.Downlights |
| 13.2.4.Tube Lights |
| 13.2.5.Flood Lights |
| 13.2.6.Others |
| 13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.General |
| 13.3.2.Automotive |
| 13.3.3.Backlighting |
| 13.3.4.Others |
| 13.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Residential |
| 13.4.2.Commercial |
| 13.4.3.Industrial |
| 13.4.4.Others |
| 13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14.Latin America Lighting Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 14.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.LED |
| 14.1.2.Fluorescent |
| 14.1.3.Incandescent |
| 14.1.4.Halogen |
| 14.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Bulbs |
| 14.2.2.Streetlights |
| 14.2.3.Downlights |
| 14.2.4.Tube Lights |
| 14.2.5.Flood Lights |
| 14.2.6.Others |
| 14.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.General |
| 14.3.2.Automotive |
| 14.3.3.Backlighting |
| 14.3.4.Others |
| 14.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.Residential |
| 14.4.2.Commercial |
| 14.4.3.Industrial |
| 14.4.4.Others |
| 14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Koninklijke Philips N.V. |
| 15.2.2.GENERAL ELECTRIC |
| 15.2.3.Acuity Brands Lighting Inc. |
| 15.2.4.Cree Lighting (IDEAL INDUSTRIES INC.) |
| 15.2.5.Dialight |
| 15.2.6.Digital Lumens Inc. |
| 15.2.7.Hubbell Light, Inc. |
| 15.2.8.LSI Industries Inc. |
| 15.2.9.Signify Holding |
| 15.2.10.Semiconductor Co. Ltd. (Seoul Semiconductor) |
| 15.2.11.Zumtobel Group Ag |
| 15.2.12.LumiGrow |
| 15.2.13.Panasonic Corporation |
| 15.2.14.Siteco GmbH. |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
- Koninklijke Philips N.V.
- GENERAL ELECTRIC
- Acuity Brands Lighting Inc.
- Cree Lighting (IDEAL INDUSTRIES INC.)
- Dialight
- Digital Lumens Inc.
- Hubbell Light, Inc.
- LSI Industries Inc.
- Signify Holding
- Semiconductor Co. Ltd. (Seoul Semiconductor)
- Zumtobel Group Ag
- LumiGrow
- Panasonic Corporation
- Siteco GmbH.