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The global LED lamps and luminaries market is estimated to keep surging by the year 2035

In the previous year 2022, the global volume of LED lamps and luminaries for indoor and outdoor application was USD 74.16 billion, and it was estimated to be up to USD 374.45 billion by the end of the year 2035., In the year 2022, about 14.45 billion pcs of led lights were sold, it is expected that the volume would be up to 242.23 billion pcs by the end of 2035, at a CAGR speed of about 14%.

As both businesses and customers come to realize the advantages of energy-saving smart LED lights with IoT inegration, more and more smart LED lights are installed to reduce electricity expenditure by close to 79%. Without the use of LED lights, the global energy usage for lighting may increase at least 59% by the year 2030.

The market of led lamps and luminaries are classified into commercial,industrial and household. The revenue of lights were USD 32.91 billion in the year 2022, it is estimated to be USD 167.11 billion by the year 2035. This market is spurred by some benefits such as few maintenance costs,environment-friendliness,safe working conditions and higher productivity.

The residential segment is expected to the biggest potential market share in the near future.LED lights consume very low power and give an aesthetic feeling to homes.As homes are becoming smarter with IoT-based devices, more and more smart led lights will be introduced to residential segment.

The global LED lights and luminaries market is segmented geographically into five major regions covering north America,Europe,Asia pacific,Latin America, the middle east and Africa region.
the geographical map of global LED lamps and luminaries market

Asia-Pacific area will be the fastest growing area because of growing development of urbanized and smart cities.East Asia and the Pacific is the worlds fastest-urbanizing region, with an annual urbanization rate of 3%.Except Japan, the total revenue of Asia pacific LED lights market is estimated to up to USD 151.9 billion by the end of 2035.The market growth is aroused by the increasing market requirement from residential sector, particularly in China,India and South Korea. Also, the continuing infrastructure modernization policies results in creation of numerous smart cities that require large volume of smart LED lights.

In Europe, the total market volume of LED lights is expected to achieve revenue of USD 96.98 billion by the end of 2035. The European commission has legally forbidden the sale of any fluorescent light in EU market since last September,2023, which will make market expansion for LED lights for sure.

According the the market survey by Research Nester, the  world-famous players that dominate the LED lights and luminaries market landscape is in the following:

1)Acuity Brands inc
2) CREE Lighting
3)Digital lumens,Incorporated
5)LSI Industries Inc
6)Siteco GmbH
7)Signify Holding
8)Seoul Semiconductor co.,ltd.
9)Zumtobel Group AG
10)Zumtobel Group AG
11)Panasonic Corporation
12)Koizumi Lighting Technology corp
14)Nichia Corporation

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