Industrial and Commercial LED Lighting Market Size, 2028

Global Industrial and Commercial LED Lighting Market Size, Share & Industry Trends Analysis Report By Product Type (LED Lamps and LED Fixtures), By Application (Indoor Lighting and Outdoor Lighting), By End User, By Regional Outlook and Forecast, 2022 - 2028

Published Date: October-2022 | Number of Pages: 200 | Format: PDF | Report ID: KBV-20385

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Industrial and Commercial LED Lighting Market

Market Report Description

The Global Industrial and Commercial LED Lighting Market size is expected to reach $91.5 billion by 2028, rising at a market growth of 17.6% CAGR during the forecast period.

A semiconductor light source called a light-emitting diode (LED) transforms electrical energy immediately into light energy. These components are frequently utilized in lamps to substitute incandescent light sources. In comparison to conventional lighting technologies, LED lights run for a longer time, have a higher level of durability, and provide greater lighting quality.

Industrial and Commercial LED Lighting Market - Global Opportunities and Trends Analysis Report 2018-2028

The rise in demand for affordable and energy-efficient LED lighting, the increase in government programmes to adopt LEDs, and the rising necessity to replace conventional lighting systems are the major aspects positively driving the industrial and commercial LED lighting market. Owing to heat losses from the typical and most prevalent lighting fixtures in industrial and commercial settings, such as fluorescent and high-intensity discharge (HID) lights, industrial operators frequently experience difficulties with maintenance costs.

The demand for LED lights has increased significantly over the past few years due to their increased energy and cost savings as well as their reduced maintenance requirements. Players in the industry are discovering interesting growth potential with the introduction of new options to brighten the work space. For example, Emerson Appleton published a cost-effective and secure method in August 2020 for replacing an old HID lighting system in a facility with a modern LED one.

COVID-19 Impact Analysis

Due to postponed development projects, the industrial and commercial LED lighting market revenue saw a reduction in its growth rate, which had a significant influence. But, the pandemic has increased demand for industrial and commercial LED lighting in the medical sector. Due to a rise in global governmental initiatives, market participants have also been spending in the research and development of smart lighting systems. This would create more demand for industrial & commercial lighting across different regions in the recovery phase of the pandemic.

Market Growth Factors

Growing Popularity Of The Led Lighting Among Industries

In comparison to conventional lighting, industrial and commercial LED lighting offers a number of advantages including greater outstanding performance and dependability, longer shelf life, reduced energy waste, compact and sturdy qualities. Conventional lighting needs a glass bulb to retain the essential coatings and/or gases, and its energy consumption is significant. For instance, high-intensity discharge (HID) lamps employ an electric arc discharge, while incandescent lamps rely on a heated filament to create light.

Rising Demand For Various Cost-Saving Lighting

Owing to its enhanced characteristics, consumers are becoming more likely to choose LEDs over traditional compact fluorescent lamps (CFLs), which has further influenced the market. Additionally, it is a budget-friendly option for all lights as well as other uses including large-screen display backlighting, non-backlighting, and displays (OLED). Moreover, the market for industrial and commercial light-emitting diode (LED) lighting is positively impacted by expanding urbanization, lifestyle modifications, investments, and rising consumer expenditure.

Industrial and Commercial LED Lighting Market Share 2021

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches.

Market Restraining Factors

High Initial Cost Of Led Lighting Would Hinder The Market Growth

In comparison to competing light sources in various applications using criteria like "dollars-per-lumen," LEDs are more expensive. While simultaneously boosting the light brightness of their products, LED producers continue to strive to lower their production costs. But, decreased energy consumption, cheaper maintenance costs, and other aspects more than make up for the hefty initial cost of LED-based systems.

Product Type Outlook

On the basis of product type, the Industrial and Commercial LED Lighting Market is bifurcated into LED Lamps and LED Fixtures. LED Lamps segment garnered the maximum revenue share in the industrial and commercial LED lighting market in 2021. This is attributed to the growing use of LED lighting in emerging economies. Since LED lamps are more durable, energy-efficient, and have the proper temporal stability, they have several advantages over incandescent bulbs.

Application Outlook

Based on application, the Industrial and Commercial LED Lighting Market is classified into Indoor Lighting and Outdoor Lightning. Outdoor lighting segment recorded a significant revenue share in the industrial and commercial LED lighting market in 2021. It is because a variety of products are readily available and have greater durability. Airports, office buildings, hospitals, public buildings, freeways, and other locations frequently use LED lighting.

Industrial and Commercial LED Lighting Market Share and Industry Analysis Report 2021

End-User Outlook

By end-user, the Industrial and Commercial LED Lighting Market is fragmented into Industrial and Commercial. The commercial segment garnered the maximum revenue share in the industrial and commercial LED lighting market in 2021. Retail, hospitality, office, educational, and warehouse storage applications are also included in the commercial section. As a replacement for HID, fluorescent, and incandescent lighting, the market has seen significant adoption.

Industrial and Commercial LED Lighting Market Report Coverage
Report Attribute Details
Market size value in 2021 USD 30.7 Billion
Market size forecast in 2028 USD 91.5 Billion
Base Year 2021
Historical Period 2018 to 2020
Forecast Period 2022 to 2028
Revenue Growth Rate CAGR of 17.6% from 2022 to 2028
Number of Pages 200
Number of Tables 324
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling
Segments covered Product Type, Application, End User, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Growing Popularity Of The Led Lighting Among Industries
  • Rising Demand For Various Cost-Saving Lighting
Restraints
  • High Initial Cost Of Led Lighting Would Hinder The Market Growth

Regional Outlook

Region-wise, the Industrial and Commercial LED Lighting Market is analyzed across North America, Europe, Asia Pacific and LAMEA. Asia Pacific procured the highest revenue share in the industrial and commercial LED lighting market in 2021. The high rate of construction, renovation of the current outdoor infrastructure, and government subsidies for energy-efficient building lighting are the causes.

Free Valuable Insights: Global Industrial and Commercial LED Lighting Market size to reach USD 91.5 Billion by 2028

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; General Electric (GE) Co. is the major forerunner in the Industrial and Commercial LED Lighting Market. Companies such as Dialight PLC, Signify N.V. and Syska LED Lights Private Limited are some of the key innovators in Industrial and Commercial LED Lighting Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dialight PLC, Eaton Corporation, General Electric (GE) Co., Signify N.V., AMS AG (OSRAM Licth AG), Syska LED Lights Private Limited, Toshiba Corporation, Zumtobel Group AG, Deco Lighting, Inc., and Wolfspeed, Inc.

Strategies deployed in Industrial and Commercial LED Lighting Market

» Partnerships, Collaborations and Agreements:

  • Feb-2022: Signify signed an agreement with Gerard Lighting Group, a manufacturer of electrical lighting products. This acquisition aimed to strengthen its position in the Australian and New Zealand lighting markets and would offer growth opportunities including those that exist between Pierlite’s luminaire offerings and Signify’s connected lighting solutions.
  • Feb-2022: GE Current took over Hubbell Incorporated’s commercial and industrial (C&I) lighting business. This acquisition aimed to expand Current’s base of distribution partnerships as well as specific agent networks for the defined companies and brands.
  • Dec-2021: Signify acquired Fluence, the horticultural LED lighting specialist. This acquisition would add up the lighting solutions to Signify’s comprehensive portfolio to empower the combined businesses to provide the world’s most innovative horticulture technology to cultivators on a global scale.

» Product Launches and Product Expansions:

  • Aug-2022: Syska LED launched the new Syska LED Down light. The LED Down light would develop quality clear light along with consuming less heat and promoting a cleaner environment.
  • Jun-2022: Syska Group released Syska Glowring LED Recessed Downlight (SSK-ORN –R-6W & SSK-ORN –R-12W) and Surface Downlight (SSK-ORN – S-6W). Through this launch, the company would enhance the lighting experience for all types of spaces, be it a corporate space, a home, or a retail store.
  • May-2022: SYSKA LED unveiled Syska LED Recessed SMD Downlight (Glowslick-SSK-SLP). This Syska LED Recessed SMD Downlight is an apt lighting solution for indoor applications since it could be utilized in stores, malls, homes, showrooms, and office spaces.
  • Apr-2022: Dialight introduced two new lighting products, particularly for hazardous area applications in the EMEA and APAC markets. The SafeSite Bulkhead and ProSite Floodlight are supported by Hazardous Area certification, providing significant enhancements to product performance and enabling dependable and worry-free performance, even in the most challenging environments.
  • Oct-2021: Dialight unveiled the Ultra-Efficient Vigilant LED High Bay. This top-class fixture would assist organizations to achieve carbon-neutral operation objectives faster along with saving money on lighting-related energy costs.
  • Mar-2021: Signify released the country's first tailor-made 3D printed luminaires for industrial and commercial users. This launch would assist companies to fulfill their sustainability objectives and enable them the flexibility to co-develop their lighting products with endless options for customization.

» Acquisition and Mergers:

  • Aug-2021: Zumtobel joined hands with NICHIA, the world’s largest LED Manufacturer and inventor of the high-brightness blue and white LEDs. This collaboration aimed to deliver LED lighting with advanced human-centric lighting benefits. The launched ZUMTOBEL Spectrum is a lighting solution made for its luminaires that support proprietary technologies developed by NICHIA, particularly those developed within Optisolis and Vitasolis to produce a color spectrum.

Scope of the Study

Market Segments Covered in the Report:

By Product Type

  • LED Lamps
  • LED Fixtures

By Application

  • Indoor Lighting
  • Outdoor Lighting

By End User

  • Commercial
  • Industrial

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Dialight PLC
  • Eaton Corporation
  • General Electric (GE) Co.
  • Signify N.V.
  • AMS AG (OSRAM Licth AG)
  • Syska LED Lights Private Limited
  • Toshiba Corporation
  • Zumtobel Group AG
  • Deco Lighting, Inc.
  • Wolfspeed, Inc.

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Related Reports:

North America Industrial and Commercial LED Lighting Market Report 2022-2028

Europe Industrial and Commercial LED Lighting Market Report 2022-2028

Asia Pacific Industrial and Commercial LED Lighting Market Report 2022-2028

LAMEA Industrial and Commercial LED Lighting Market Report 2022-2028

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