Global Light-Emitting Diode Lighting Module Market 2017-2021

The infographic below contains key findings from our analysis of the LED lighting module market

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Overview of the global light-emitting diode(LED) lighting module market

Technavio’s market research analyst predicts the global light-emitting diode (LED) lighting market to grow steadily at a CAGR of around 20% by 2021. One of the key factors responsible for the growth of this market is the increasing government support and incentives for LED lighting. The governments across the globe are promoting the use and manufacture of LED lighting solutions. This is primarily due to the rising concerns about global warming and rapid depletion of non-renewable energy sources, which highlight the vital need for energy conservation. In 2016, it was observed that the lighting applications accounted for a major part of the global electricity consumption. Such high consumption rate has led several countries to frame policies that ban the use of inefficient lighting sources and promote the use of efficient lighting sources through subsidies and tax incentive programs. These incentives are being offered by different governmental and non-governmental entities. They are being offered by federal, state, and local governments or by utilities because of general efficiency requirements set by the government.

In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market over the next four years. Much of the region’s growth is primarily due to the unprecedented development in the LED lighting market in the region. APAC is witnessing increased demand for lighting solutions from the retail, office, and industrial sectors. The region is becoming a hub for sectors such as the retail, hospitality, and healthcare. Rapid urbanization and increased focus on improving infrastructure by governments of developing countries such as India, China, and South Korea, will contribute further to the growth of the global LED lighting module market during the forecast period.

Competitive landscape and key vendors

The global LED lighting module market is characterized by the presence of well-diversified international and regional vendors. As international players are increasing their footprint, regional vendors are finding it difficult to compete with them in terms of quality, technology, and price. With increasing number product extensions and better innovations in technology the competition in the market is expected to intensify over the next few years.

Leading vendors in the market are -

• Cree
• GE Lighting
• OSRAM
• Philips

Other prominent vendors in the global LED lighting market include Acuity Brands, Advanced Lighting Technology, Bridgelux, Cooper Lighting, and LG Innotek.

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Segmentation by end-user and analysis of the LED lighting module market

• Retail
• Architectural
• Office
• Hospitality
• Industrial
• Outdoor
• Residential

According to the LED lighting industry analysis, the retail sector dominated the LED lighting module market and accounted for a major part of the overall market share. This dominance in the market is due to the transition of retail outlets across the globe towards energy-efficient LED lighting from general lighting. For instance, in 2015, global retail giant, Carrefour supermarket, installed Philips smart lighting solutions to create a natural shopping environment for its customers.  With the wider adoption of LED lighting systems in the retail sector, the demand for LED lighting modules in the sector is set to witness steady growth during the forecast period.  

Segmentation by application and analysis of the LED lighting module market

• Luminaires
• Lamps

In the LED lighting module market study, analysts have estimated luminaires to dominate the LED lighting module market during the forecast period. Factors such as high energy efficiency and greater lifespan have made LED luminaires popular across all sectors. They provide cost benefits in the long run as well as enhance the quality of lighting. LED luminaires such as downlights are widely used in the retail, office, and residential sectors whereas troffers have extensive usage in the office, retail, healthcare and industrial sectors. The increasing demand for luminaires will contribute to the growth of LED lighting module over the next few years. 

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global LED lighting module market?
• What are the key market trends impacting the growth of the global LED lighting module market?
• What are the challenges to market growth?
• Who are the key vendors in the global LED lighting module market?
• What are the market opportunities and threats faced by the vendors in the global LED lighting module market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global LED lighting module market?

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