LED Lighting Market by Product Type, Installation Type, End-Use Application and Geography - Global Market Size, Share, Development, Growth and Demand Forecast (2013-2023)
DUBLIN, July 5, 2018 /PRNewswire/ --
The "LED Lighting Market by Product Type, by Installation Type, by End-Use Application, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013 - 2023" report has been added to ResearchAndMarkets.com's offering.
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The global LED lighting market is likely to reach $70,240 million by 2023, growing at a CAGR of 12.6% during the forecast period. The continuous fall in LED price has led to positive forecasts for the penetration of LED lighting in several application segments.
Based on product type, luminaire is expected to be the major product type and it is also expected to grow at a faster rate, as compared to the lamp market, during the forecast period. The growth of luminaire market can be attributed to the increasing infrastructural activities across the globe.
Based on installation type, the global LED lighting market is classified into new installation and retrofit, where new installation is expected to contribute higher revenue to the market. However, retrofit installation is expected to register faster growth during 2017-2023. Increased replacement of conventional lamps with energy-efficient light sources, such as LED lamps, is the key factor contributing to the advancement of the market for retrofit installation.
Between indoor and outdoor lighting, the market for indoor lighting is estimated to represent larger revenue in 2017 to the global LED lighting market. However, outdoor lighting application segment is expected to experience higher growth on account of growing necessity for enhancing visibility on roads.
The safety of drivers, riders and pedestrians has been emerging as an utmost concern for the local authorities in several countries, which is expected to fuel the demand for improved lighting systems on roads. The ongoing transformation and infrastructure expansion projects will further lead to the surge in demand for outdoor LED lightings. The features associated with outdoor LED lightings such as less energy consumption and cost-effectiveness are also contributing towards their growth across the globe.
APAC Stands as the Largest LED Lighting Market
In terms of regional split, Asia-Pacific (APAC) has been the largest LED lighting market, and it is further forecasted to contribute largest revenue to the global market. Backed by swift penetration of LED lighting in developing economies such as China and India, Asia-Pacific has several underpenetrated markets for LED lighting, which may be the areas of opportunity. Moreover, Asia-Pacific has emerged as a hub for major original equipment manufacturers (OEMs) for miscellaneous lighting products, which makes it a booming LED market.
For instance, China has been the largest revenue contributor to the global lighting industry, accounting for over 40% of the global production. In addition, investment in research and development to launch new LED products for several applications in the emerging countries of Asia-Pacific, including Taiwan, Vietnam and South Korea, is the major factor propelling the growth of the LED lighting market in the region.
Europe been the second largest LED lighting market, and is further expected to hold its position throughout the forecast period. Stringent government policies regarding bans of inefficient lighting and lowering down the energy consumption, are anticipated to back the industry requirement in the region, over the forecast period.
Increasing Applications in General Lighting Bolsters Market Growth
The key factors propelling the growth of global LED lighting market include increasing adoption of energy efficient lighting solutions, declination in prices of LEDs and modernization and development of infrastructure. LEDs offer several advantages over many conventional lighting technologies in terms of energy efficiency, lifetime, versatility, and color quality and cost efficiency. Owing to this, their penetration is continuously increasing in the residential, commercial and industrial lighting applications.
Several economic barriers in the developing and underdeveloped countries, including poor infrastructure, technological inefficiency, lack of skilled workforce, political instability and scarcity of capital, make them unattractive to investors. Owing to this, government of various developing and underdeveloped countries, is focusing towards development and modernization of infrastructure. With the improvement in infrastructural investment in such countries, the demand for lighting is expected to arise from the underpenetrated areas. These factors are likely to spearhead the global LED lighting market in near future.
For instance, government of several countries like Spain, UAE, Singapore, India and Austria are investing heavily in smart city research and implementation projects. Government of India has been planning to transform 100 cities, across the country into smart cities by 2030 and aims to invest around $15 billion on smart city projects. The government of Dubai (UAE), has recently announced its smart city strategy, which is expected to increase scope for LED lighting in the country. In addition, recently, Barcelona (Spain) deployed more than 3,000 smart streetlights based on LED technology, which gather information about pollution, noise, humidity and the overall environment.
Intensity of Rivalry is High in the Global LED Lighting Market
The global LED lighting market is highly fragmented due to the presence of large number of regional and international players across the globe. Due to the fragmented nature of the market, the competition among the global and regional players is high. It has also been observed that several large players are losing their market share owing to the competition posed by new entrants, especially from China. Some of the major companies operating in the global LED lighting market include Phillips Lighting N.V., General Electric Company, OSRAM Licht AG, Cree, Inc., Eaton Corporation Plc, Virtual Extension, Dialight plc, Zumtobel Group AG, Samsung Electronics Co. Ltd. and Cree Inc.
Key Topics Covered
1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Product Type
1.3.2 Market Segmentation by Installation Type
1.3.3 Market Segmentation by Application
1.3.4 Market Segmentation by Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 by region
2.2.1.2 by industry participant
2.2.1.3 by company type
2.3 Market Size Estimation
2.3.1 by Volume
2.3.2 by Value
2.4 Data Triangulation
2.5 Assumptions for the Study
3. Executive Summary
4. Introduction
4.1 Market Segmentation
4.1.1 Overview by Product Type
4.1.1.1 Lamp
4.1.1.2 Luminaire
4.1.2 Overview by Installation Type
4.1.2.1 New installation
4.1.2.2 Retrofit
4.1.2.2.1 A-lamps
4.1.2.2.2 T-lamps
4.1.2.2.3 Reflectors
4.1.2.2.4 Other lamps
4.1.3 Overview by Application
4.1.3.1 Indoor lighting
4.1.3.1.1 Residential
4.1.3.1.2 Commercial
4.1.3.1.2.1 Office lighting
4.1.3.1.2.2 Retail malls
4.1.3.1.2.3 Hospitality
4.1.3.1.3 Industrial
4.1.3.2 Outdoor lighting
4.1.3.2.1 Highway and roadway
4.1.3.2.2 Public places
4.1.3.2.3 Others
4.2 LED Lighting Market Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Growing adoption of energy efficient lighting solutions
4.3.1.2 Decline in prices of LEDs
4.3.1.3 Modernization and development of infrastructure
4.3.1.4 Increasing adoption of LEDs as general lighting
4.3.1.5 Impact analysis of drivers on market forecast
4.3.2 Restraints
4.3.2.1 Development of alternative technologies
4.3.2.2 Lack of awareness regarding installation cost and payback period
4.3.2.3 Impact analysis of restraints on market forecast
4.3.3 Trends
4.3.3.1 Increasing penetration of non-visible LED applications
4.3.3.2 Implementation of adaptive driving beam (ADB)
4.4 Porter's Five Forces of Competitive Position Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Intensity of Rivalry
4.4.5 Threat of Substitutes
5. Market Size and Forecast by Product Type
5.1 LED Luminaire Market, by Region
5.2 LED Lamp Market, by Region
6. Market Size and Forecast by Installation Type
6.1 New Installation Based LED Lighting Market
6.1.1 New Installation based LED Lighting Market, by Region
6.2 Retrofit LED Lighting Market
6.2.1 Retrofit LED Lighting Market, by Type
6.2.1.1 A-Lamps
6.2.1.1.1 A-Lamps market, by region
6.2.1.2 T-Lamps
6.2.1.2.1 T-Lamps market, by region
6.2.1.3 Reflectors
6.2.1.3.1 LED reflectors market, by region
6.2.1.4 Other LED lamps
6.2.1.4.1 Other LED lamps market, by region
6.2.2 Retrofit LED Lighting Market, by Region
7. Market Size and Forecast by Application
7.1 Indoor LED Lighting Market
7.1.1 Indoor LED Lighting Market, by Type
7.1.1.1 Residential LED lighting market
7.1.1.1.1 Residential LED lighting market, by region
7.1.1.2 Commercial LED lighting market
7.1.1.2.1 Commercial LED lighting market, by type
7.1.1.2.2 Commercial LED lighting market, by region
7.1.1.3 Industrial LED lighting market
7.1.1.3.1 Industrial LED lighting market, by region
7.1.2 Indoor LED Lighting Market, by Region
7.2 Outdoor LED Lighting Market
7.2.1 Outdoor LED Lighting Market, by Type
7.2.1.1 Highway & roadway LED lighting market
7.2.1.1.1 Highway & roadway LED lighting market, by region
7.2.1.2 LED lighting market for public places
7.2.1.2.1 LED lighting market for public places, by region
7.2.1.3 Other outdoor LED lightings market
7.2.1.3.1 Other outdoor LED lightings market, by region
7.2.2 Outdoor LED Lighting Market, by Region
8. Market Size and Forecast by Geography
8.1 Asia-Pacific LED Lighting Market
8.1.1 Asia-Pacific LED Lighting Market, by Product Type
8.1.2 Asia-Pacific LED Lighting Market, by Installation Type
8.1.2.1 Asia-Pacific retrofit installation based LED lighting market, by type
8.1.3 Asia-Pacific LED Lighting Market, by Application
8.1.3.1 Asia-Pacific indoor LED lighting market, by type
8.1.3.1.1 Asia-Pacific commercial LED lighting market, by type
8.1.3.2 Asia-Pacific outdoor LED lighting market, by type
8.1.4 Asia-Pacific LED Lighting Market, by Country
8.2 Europe LED Lighting Market
8.2.1 Europe LED Lighting Market, by Product Type
8.2.2 Europe LED Lighting Market, by Installation Type
8.2.2.1 Europe retrofit installation based LED lighting market, by type
8.2.3 Europe LED Lighting Market, by Application
8.2.3.1 Europe indoor LED lighting market, by type
8.2.3.1.1 Europe commercial LED lighting market, by type
8.2.3.2 Europe outdoor LED lighting market, by type
8.2.4 Europe LED Lighting Market, by Country
8.3 North America LED Lighting Market
8.3.1 North America LED Lighting Market, by Product Type
8.3.2 North America LED Lighting Market, by Installation Type
8.3.2.1 North America retrofit installation based LED lighting market, by type
8.3.3 North America LED Lighting Market, by Application
8.3.3.1 North America indoor LED lighting market, by type
8.3.3.1.1 North America commercial LED lighting market, by type
8.3.3.2 North America outdoor LED lighting market, by type
8.3.4 North America LED Lighting Market, by Country
8.4 Latin America LED Lighting Market
8.4.1 Latin America LED Lighting Market, by Product Type
8.4.2 Latin America LED Lighting Market, by Installation Type
8.4.2.1 Latin America retrofit installation based LED lighting market, by type
8.4.3 Latin America LED Lighting Market, by Application
8.4.3.1 Latin America indoor LED lighting market, by type
8.4.3.1.1 Latin America commercial LED lighting market, by type
8.4.3.2 Latin America outdoor LED lighting market, by type
8.4.4 Latin America LED Lighting Market, by Country
8.5 Middle-East & Africa LED Lighting Market
8.5.1 MEA LED Lighting Market, by Product Type
8.5.2 MEA LED Lighting Market, by Installation Type
8.5.2.1 MEA retrofit installation based LED lighting market, by type
8.5.3 MEA LED lighting market, by application
8.5.3.1 MEA indoor LED lighting market, by type
8.5.3.1.1 MEA commercial led lighting market, by type
8.5.3.2 MEA outdoor LED lighting market, by type
8.5.4 MEA LED Lighting Market, by Country
9. Competitive Landscape
9.1 Competitive Benchmarking
9.1.1 Company Share Analysis
9.1.2 Market Segment Benchmarking of Major Players
9.1.3 Product Benchmarking of Major Players
9.2 Global Strategic Developments
9.2.1 Product/ Service Launch and Enhancement
9.2.2 Client Win
9.2.3 Partnership
9.2.4 Others
10. Company Profiles
10.1 General Electric Company
10.1.1 Business Overview
10.1.2 Product and Service Offerings
10.1.3 Key Financial Summary
10.1.4 Strategic Growth Plans
10.2 Zumtobel Group AG
10.2.1 Business Overview
10.2.2 Key Financial Summary
10.2.3 Product and Service Offerings
10.2.4 Strategic Growth Plans
10.3 Samsung Electronics Co. Ltd.
10.3.1 Business Overview
10.3.2 Product and Service Offerings
10.3.3 Key Financial Summary
10.3.4 Strategic Growth Plans
10.4 Syska LED Lights Pvt. Ltd.
10.4.1 Business Overview
10.4.2 Product and Service Offerings
10.5 Eaton Corporation Plc
10.5.1 Business Overview
10.5.2 Product and Service Offerings
10.5.3 Key Financial Summary
10.5.4 Strategic Growth Plans
10.6 Virtual Extension
10.6.1 Business Overview
10.6.2 Product and Service Offerings
10.7 Dialight Plc
10.7.1 Business Overview
10.7.2 Product and Service Offerings
10.7.3 Key Financial Summary
10.8 Philips Lighting N.V.
10.8.1 Business Overview
10.8.2 Product and Service Offerings
10.8.3 Key Financial Summary
10.9 OSRAM Licht AG
10.9.1 Business Overview
10.9.2 Product and Service Offerings
10.9.3 Key Financial Summary
10.9.4 Strategic Growth Plans
10.10 Cree Inc.
10.10.1 Business Overview
10.10.2 Product and Service Offerings
10.10.3 Key Financial Summary
10.10.4 Strategic Growth Plans
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