Industrial and Commercial LED Lighting Market by Product Type and Geography - Forecast and Analysis 2022-2026

The industrial and commercial LED lighting market is projected to grow by USD 41.56 billion with a CAGR of 17.44% during the forecast period 2021 to 2026.

This industrial and commercial LED lighting market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the industrial and commercial LED lighting market segmentation by product type (LED lamps and LED fixtures) and geography (Europe, APAC, North America, Middle East and Africa, and South America). The industrial and commercial light-emitting diode (LED) lighting market report also offers information on several market vendors, including Acuity Brands Inc., Cree LED, DECO Lighting Inc., Dialight Plc, Eaton Corp. Plc, ELBA SA, Havells India Ltd, Hubbell Inc., Iwasaki Electric Co. Ltd., Koninklijke Philips NV, LSI Industries Inc., Luxon SP ZOO, OSRAM GmbH, Panasonic Holdings Corp., Savant Systems Inc., Signify NV, Syska Led Lights Pvt. Ltd., Wolfspeed Inc., Zumtobel Group AG, and Toshiba Corp. among others.

What will the Industrial and Commercial LED Lighting Market Size be During the Forecast Period?

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Industrial and Commercial LED Lighting Market: Key Drivers, Trends, and Challenges

The declining manufacturing cost of LEDs is notably driving the industrial and commercial LED lighting market growth, although factors such as the limited thermal tolerance of LEDs installed in industrial facilities may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industrial and commercial LED lighting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial and Commercial LED Lighting Market Driver

The declining manufacturing cost of LEDs is one of the factors driving the industrial and commercial light-emitting diode (LED) lighting market growth. The decline in the manufacturing cost of LEDs can be mainly attributed to the decreasing ASP of semiconductor chips and components used in the manufacturing process of LED devices. The decline in the manufacturing cost of LEDs is also lowering the initial installation cost of LED lamps and fixtures, which will accelerate the installation of new LED lamps and fixtures across all application segments. Another vital factor is the shift toward larger diameter sapphire substrates, which are used to produce LED chips. Such factors will fuel the growth of the market during the forecast period.

Key Industrial and Commercial LED Lighting Market Trend

Growing traction for intelligent lighting systems is one of the key industrial and commercial light-emitting diode (LED) lighting market trends fueling the market growth. LED lights are integrated with sensors and controls. The demand for LED lighting products is increasing at a rapid pace, especially in outdoor and industrial applications. Moreover, LEDs are used in lighting control systems that have automated/mechanical capabilities. These LEDs use software to automate lighting operations. For instance, LEDs in lighting control systems switch off automatically in response to the brightness in daylight or in the absence of people in the room. Intelligent lighting systems not only save energy but also provide valuable information that can be used for energy analysis and maintenance. All these factors result in the growth of the market during the forecast period.

Key Industrial and Commercial LED Lighting Market Challenge

Limited thermal tolerance of LEDs installed in industrial facilities is one of the key factors challenging the industrial and commercial light-emitting diode (LED) lighting market growth. A considerable loss of energy occurs in incandescent lamps as most of the power consumed is dissipated in the form of heat. The lighting efficiency of LEDs also decreases when exposed to high temperatures, high moisture, and other hazardous environments that are common in industrial areas. They are vulnerable to high temperatures, and when used in an enclosed area, they can adversely affect the light output and lifespan of LEDs. Moreover, LED lamps and fixtures that are connected to external LED drivers often fail prematurely due to high internal operating temperatures. This, in turn, will pose a challenge to the market growth during the forecast period.

This industrial and commercial LED lighting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio calculates the global industrial and commercial LED lighting market as part of the electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial and commercial LED lighting market during the forecast period.

Who are the Major Industrial and Commercial LED Lighting Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Acuity Brands Inc.
• Cree LED
• DECO Lighting Inc.
• Dialight Plc
• Eaton Corp. Plc
• ELBA SA
• Havells India Ltd
• Hubbell Inc.
• Iwasaki Electric Co. Ltd.
• Koninklijke Philips NV
• LSI Industries Inc.
• Luxon SP ZOO
• OSRAM GmbH
• Panasonic Holdings Corp.
• Savant Systems Inc.
• Signify NV
• Syska Led Lights Pvt. Ltd.
• Wolfspeed Inc.
• Zumtobel Group AG
• Toshiba Corp.

 

This statistical study of the industrial and commercial light-emitting-diode (LED) lighting market encompasses successful business strategies deployed by the key vendors. The industrial and commercial light-emitting-diode lighting market is fragmented, and the vendors are deploying growth strategies such as product portfolio, quality of the product, and reliability of the product to compete in the market.

Product Insights and News

• philips.com - The company offers industrial and commercial LED lighting such as LED tubes, LED spots, and LED bulbs.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The industrial and commercial light-emitting diode lighting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial and Commercial LED Lighting Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the industrial and commercial LED lighting market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for the Industrial and Commercial LED Lighting Market?

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29% of the market’s growth will originate from Europe during the forecast period. Germany and the UK are the key markets for the industrial and commercial LED lighting market in Europe. Market growth in this region will be faster than the growth of the market in the Middle East and Africa.

The presence of several manufacturing facilities across diversified industries will facilitate the industrial and commercial LED lighting market's growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 led to a decline in the demand for industrial and commercial LED lighting in Europe. However, the initiation of vaccination drives led to the lifting of lockdowns and the reopening of end-user manufacturing facilities across Europe in 2021. Such factors are expected to drive the growth of the regional market during the forecast period.

What are the Revenue-generating Product Type Segments in the Industrial and Commercial LED Lighting Market?

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The industrial and commercial LED lighting market share growth in the LED lamps segment will be significant during the forecast period. LED lamps are mostly used for decoration lighting purposes in places such as churches, retail outlets, restaurants, and hotels across countries. Additionally, the introduction of intelligent LED lighting has led to a rise in the demand for LED lamps in several regions, including North America and Europe, during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial and commercial LED lighting market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Industrial and Commercial LED Lighting Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 17.44%
Market growth 2022-2026	$41.56 billion
Market structure	Fragmented
YoY growth (%)	6.89
Regional analysis	Europe, APAC, North America, the Middle East and Africa, and South America
Performing market contribution	Europe at 29%
Key consumer countries	US, China, India, Germany, and UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Acuity Brands Inc., Cree LED, DECO Lighting Inc., Dialight Plc, Eaton Corp. Plc, ELBA SA, Havells India Ltd, Hubbell Inc., Iwasaki Electric Co. Ltd., Koninklijke Philips NV, LSI Industries Inc., Luxon SP ZOO, OSRAM GmbH, Panasonic Holdings Corp., Savant Systems Inc., Signify NV, Syska Led Lights Pvt. Ltd., Wolfspeed Inc., Zumtobel Group AG, and Toshiba Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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.

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What are the Key Data Covered in this Industrial and Commercial LED Lighting Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive industrial and commercial LED lighting market growth during the next five years
• Precise estimation of the industrial and commercial LED lighting market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial and commercial LED lighting industry across Europe, APAC, North America, the Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of industrial and commercial LED lighting market vendors

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