Industrial & Commercial LED Lighting Market Size, Share, Industry Growth And Forecast 2022-27
The latest research study “Industrial and Commercial LED Lighting Market”. Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that
The global Industrial and Commercial LED Lighting Market size reached US$ 37.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 83.1 Billion. by 2027 exhibiting a CAGR of 12.70% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market. along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industry Definition and Application:
Light-emitting diode (LED) lights refer to semiconductor devices. that emit infrared or visible light. They are highly energy efficient . as they produce less waste and are more useful lumens compared to other lighting technologies. LED lights are considered environment-friendly lighting solutions. as their production does not require the utilization of mercury.
Also, they offer various advantages. such as long shelf life, low voltage operations, high durability, several dimming features, and design flexibility. As LED lights are highly effective in cold temperatures. they find widespread applications in the industrial and commercial sectors across the global
Industrial and Commercial LED Lighting Market Trends and Drivers:
The escalating demand for cost-effective lighting solutions in large and small enterprises. and the rising product utilization in large screen displays. are among the primary factors driving the industrial and commercial LED lighting market.
Besides this, Industrial and Commercial LED Lighting Market elevating need for smart devices in several organizations. That to adjust the amount of light using control zones. and the increasing number of warehouse facilities across the globe are further augmenting the market growth.
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Moreover, various benefits offered by industrial and commercial. LED lighting in the hospitality sector, including extended shelf-life, high durability, and less energy waste. are also catalyzing the global market.
Apart from this, Industrial and Commercial LED Lighting launch of several policies by the government bodies. to promote the use of these semiconductor appliances for minimizing power dissipation is acting . as another significant growth-inducing factor. Furthermore, the growing product popularity in illuminating building structures, digital signage, statues, landscapes, and columns is anticipated . to propel the industrial and commercial LED lighting market over the forecasted period.
|Industrial and Commercial LED Lighting Market Report Scope|
|Market size value in 2021||US$ 37.84 Billion|
|Market forecast in 2027||US$ 83.1 Billion|
|Growth Rate||CAGR of 12.70% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends|
|Segments covered||Product Type, Application, Distribution Channel And End User.|
|Regional scope||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Key companies profiled||Acuity Brands lighting Inc., ams-OSRAM AG, Cree Lighting (Ideal Industries Inc.), Dialight plc, Eaton Corporation plc, Emerson Electric Co., Litetronics International Inc., Schneider Electric SE, Signify N.V., Syska Hennessy Group and Zumtobel Group.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Industry Breakup by Product Type:
- LED Lamps
- LED Fixtures
Market Breakup by Application:
- Indoor Lighting
- Outdoor Lighting
Breakup by Distribution Channel:
- Direct Sales
- Online Stores
- Specialty Stores
Breakup by End User:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Acuity Brands lighting Inc., ams-OSRAM AG, Cree Lighting (Ideal Industries Inc.), Dialight plc, Eaton Corporation plc, Emerson Electric Co., Litetronics International Inc., Schneider Electric SE, Signify N.V., Syska Hennessy Group and Zumtobel Group
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