The general lighting market size has grown strongly in recent years. It will grow from $94.08 billion in 2023 to $99.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historical period can be ascribed to robust economic expansion in emerging markets, a surge in the adoption of voice assistant devices, a low-interest-rate environment, the rise in internet penetration, substantial investments, and an increase in per capita income.
The general lighting market size is expected to see strong growth in the next few years. It will grow to $121.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be linked to the ongoing rise in construction activity rates, a decreasing manufacturing cost of LEDs, escalating urbanization, a growing demand for electricity, and an increasing population. Prominent trends expected in the forecast period encompass a heightened demand for Li-Fi (Light Fidelity), advancements in human-centric lighting and smart lighting, the emergence of healthy lighting technology, a surge in mergers and acquisitions, Wi-Fi-enabled LED bulbs, new product launches, and a strong demand for LED lights driven by energy efficiency.
The ongoing rise in construction activities globally contributes to an increased demand for general lighting. Lighting fixtures are essential in both office spaces and residential buildings, and as construction activities escalate, the need for such lighting solutions also grows. According to a report by Global Construction Perspectives and Oxford Economics, the global construction market is projected to witness a growth of over 70% by 2025. This surge in construction demand is expected to positively impact the expansion of the general lighting market.
The growing acceptance of energy-efficient lighting systems is a key driver for the general lighting market. Energy-efficient lighting options, such as LEDs and CFLs, play a significant role in reducing energy consumption and minimizing the environmental footprint associated with lighting. When coupled with renewable energy sources such as solar power, these solutions offer a sustainable and eco-friendly choice across various applications. For instance, in September 2021, the New York state government replaced 286,000 streetlights with energy-efficient LED lights, with plans to replace half a million streetlights with LEDs by 2025. Moreover, in 2022, the US government passed the Inflation Reduction Acts of 2022, providing tax deductions for homeowners, builders, and commercial businesses adopting energy-efficient lighting solutions. Consequently, the increasing adoption of energy-efficient lighting systems propels the growth of the general lighting market.
Companies are increasingly utilizing Li-Fi (Light Fidelity) networks for the production of general lighting equipment. Li-Fi is an optical wireless networking technology that utilizes light-emitting diodes (LEDs) for data transmission. Li-Fi bulbs are equipped with a small chip that modulates the light, enabling data transmission at speeds of up to 224 gigabits per second. In 2022, Kyocera SLD Laser announced the development of the world's fastest Li-Fi system.
Major companies engaged in the general lighting system market are adopting advanced technologies to maintain their market position. An advanced lighting control system is a type of control system that uses a central computing device to facilitate communication between various inputs and outputs related to lighting control. For example, in August 2021, Intermatic Incorporated, a US-based company specializing in appliances, electrical, and electronics manufacturing, introduced the new ARISTATM Advanced Lighting Control System - a programmable smart lighting solution designed for spaces of up to 10,000 ft2 in commercial and public facilities. ARISTA can be tailored to specific project requirements using a range of modular components, and installation challenges are mitigated through intentional design choices, such as battery-powered sensors and secure Bluetooth 5.0 mesh networking technologies.
In February 2022, GE Current, a US-based lighting company, acquired Hubbell C&I Lighting for an undisclosed amount. Through this acquisition, both companies enhance their distribution footprint and digital tools to better meet customer needs in a more expedient, efficient, and user-friendly manner. Hubbell C&I Lighting is a US-based company specializing in general lighting.
Major companies operating in the general lighting market report are Schneider Electric SE, Panasonic Corporation, Signify N.V., Osram Licht AG, Acuity Brands, Inc., Eaton Corporation PLC, GE Lighting, Advanced Lighting Technologies, LLC, Honeywell International Inc., Wipro Limited, Surya Roshni Ltd., Havell’s India Limited, SSK Group, Halonix, Param LED Products, MLS Lighting, NVC International Holdings Limited, OPPLE Lighting, San’an Optoelectronics Co., Ltd., Meka Electric Corporation, YEELIGHT, Odeer Lighting, Longhorn Intelligent Tech Co., Ltd., Koninklijke Philips N.V., Decon Lighting Pvt. Ltd., Cooper Lighting, LG Innotek, Toshiba, Perfand LEd, Lena Lighting, PXF Lighting, Es-System, ELBA, Alpha Lighting, Tes-Lamp, Newled, Elux, Bergmen, Ideal Industries, Digital Lumens, Dimonoff, Cree, LSI Industries Inc., Energy Focus, Inc., Lumileds, OM lighting, UL, Dialight, Sylvania Lighting, Regency Lighting, Frederico Lopes Leal, Light Tool Industries E Comercio Ltd., Larsa Lighting, Arrco, Murano Lighting, Led world me, UC Lighting, Lutron, TRUST LED, Citizen Electronics Co. Ltd., Energy Focus, Shell Petroleum Development Corporation, Light Line Investment Ltd.
Asia-Pacific was the largest region in the general lighting market in 2023. North America was the second-largest region in the global general lighting market share. The regions covered in the general lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the general lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The primary product categories within the general lighting sector encompass LED, CFL, LFL, HID, halogens, incandescent, and others. An incandescent light bulb produces light by heating a wire filament to a temperature that induces light emission. This wire filament is enclosed within a translucent glass bulb, which is either filled with inert gas or evacuated (a vacuum). These lighting solutions find applications in various areas such as general lighting, automotive lighting, backlighting, and others, catering to the needs of residential, commercial, outdoor, industrial, and other end-users.
The general lighting market research report is one of a series of new reports that provides general lighting market statistics, including general lighting industry global market size, regional shares, competitors with a general lighting market share, detailed general lighting market segments, market trends and opportunities, and any further data you may need to thrive in the general lighting industry. This general lighting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The general lighting market consists of sales of chandeliers, ceiling or wall-mounted fixtures, recessed or track lights, lanterns mounted, wall lighting, spotlights, post lanterns, recessed fixtures, hanging fixtures, and other general lighting. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The general lighting market size is expected to see strong growth in the next few years. It will grow to $121.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be linked to the ongoing rise in construction activity rates, a decreasing manufacturing cost of LEDs, escalating urbanization, a growing demand for electricity, and an increasing population. Prominent trends expected in the forecast period encompass a heightened demand for Li-Fi (Light Fidelity), advancements in human-centric lighting and smart lighting, the emergence of healthy lighting technology, a surge in mergers and acquisitions, Wi-Fi-enabled LED bulbs, new product launches, and a strong demand for LED lights driven by energy efficiency.
The ongoing rise in construction activities globally contributes to an increased demand for general lighting. Lighting fixtures are essential in both office spaces and residential buildings, and as construction activities escalate, the need for such lighting solutions also grows. According to a report by Global Construction Perspectives and Oxford Economics, the global construction market is projected to witness a growth of over 70% by 2025. This surge in construction demand is expected to positively impact the expansion of the general lighting market.
The growing acceptance of energy-efficient lighting systems is a key driver for the general lighting market. Energy-efficient lighting options, such as LEDs and CFLs, play a significant role in reducing energy consumption and minimizing the environmental footprint associated with lighting. When coupled with renewable energy sources such as solar power, these solutions offer a sustainable and eco-friendly choice across various applications. For instance, in September 2021, the New York state government replaced 286,000 streetlights with energy-efficient LED lights, with plans to replace half a million streetlights with LEDs by 2025. Moreover, in 2022, the US government passed the Inflation Reduction Acts of 2022, providing tax deductions for homeowners, builders, and commercial businesses adopting energy-efficient lighting solutions. Consequently, the increasing adoption of energy-efficient lighting systems propels the growth of the general lighting market.
Companies are increasingly utilizing Li-Fi (Light Fidelity) networks for the production of general lighting equipment. Li-Fi is an optical wireless networking technology that utilizes light-emitting diodes (LEDs) for data transmission. Li-Fi bulbs are equipped with a small chip that modulates the light, enabling data transmission at speeds of up to 224 gigabits per second. In 2022, Kyocera SLD Laser announced the development of the world's fastest Li-Fi system.
Major companies engaged in the general lighting system market are adopting advanced technologies to maintain their market position. An advanced lighting control system is a type of control system that uses a central computing device to facilitate communication between various inputs and outputs related to lighting control. For example, in August 2021, Intermatic Incorporated, a US-based company specializing in appliances, electrical, and electronics manufacturing, introduced the new ARISTATM Advanced Lighting Control System - a programmable smart lighting solution designed for spaces of up to 10,000 ft2 in commercial and public facilities. ARISTA can be tailored to specific project requirements using a range of modular components, and installation challenges are mitigated through intentional design choices, such as battery-powered sensors and secure Bluetooth 5.0 mesh networking technologies.
In February 2022, GE Current, a US-based lighting company, acquired Hubbell C&I Lighting for an undisclosed amount. Through this acquisition, both companies enhance their distribution footprint and digital tools to better meet customer needs in a more expedient, efficient, and user-friendly manner. Hubbell C&I Lighting is a US-based company specializing in general lighting.
Major companies operating in the general lighting market report are Schneider Electric SE, Panasonic Corporation, Signify N.V., Osram Licht AG, Acuity Brands, Inc., Eaton Corporation PLC, GE Lighting, Advanced Lighting Technologies, LLC, Honeywell International Inc., Wipro Limited, Surya Roshni Ltd., Havell’s India Limited, SSK Group, Halonix, Param LED Products, MLS Lighting, NVC International Holdings Limited, OPPLE Lighting, San’an Optoelectronics Co., Ltd., Meka Electric Corporation, YEELIGHT, Odeer Lighting, Longhorn Intelligent Tech Co., Ltd., Koninklijke Philips N.V., Decon Lighting Pvt. Ltd., Cooper Lighting, LG Innotek, Toshiba, Perfand LEd, Lena Lighting, PXF Lighting, Es-System, ELBA, Alpha Lighting, Tes-Lamp, Newled, Elux, Bergmen, Ideal Industries, Digital Lumens, Dimonoff, Cree, LSI Industries Inc., Energy Focus, Inc., Lumileds, OM lighting, UL, Dialight, Sylvania Lighting, Regency Lighting, Frederico Lopes Leal, Light Tool Industries E Comercio Ltd., Larsa Lighting, Arrco, Murano Lighting, Led world me, UC Lighting, Lutron, TRUST LED, Citizen Electronics Co. Ltd., Energy Focus, Shell Petroleum Development Corporation, Light Line Investment Ltd.
Asia-Pacific was the largest region in the general lighting market in 2023. North America was the second-largest region in the global general lighting market share. The regions covered in the general lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the general lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The primary product categories within the general lighting sector encompass LED, CFL, LFL, HID, halogens, incandescent, and others. An incandescent light bulb produces light by heating a wire filament to a temperature that induces light emission. This wire filament is enclosed within a translucent glass bulb, which is either filled with inert gas or evacuated (a vacuum). These lighting solutions find applications in various areas such as general lighting, automotive lighting, backlighting, and others, catering to the needs of residential, commercial, outdoor, industrial, and other end-users.
The general lighting market research report is one of a series of new reports that provides general lighting market statistics, including general lighting industry global market size, regional shares, competitors with a general lighting market share, detailed general lighting market segments, market trends and opportunities, and any further data you may need to thrive in the general lighting industry. This general lighting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The general lighting market consists of sales of chandeliers, ceiling or wall-mounted fixtures, recessed or track lights, lanterns mounted, wall lighting, spotlights, post lanterns, recessed fixtures, hanging fixtures, and other general lighting. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. General Lighting Market Characteristics3. General Lighting Market Trends and Strategies32. Global General Lighting Market Competitive Benchmarking33. Global General Lighting Market Competitive Dashboard34. Key Mergers and Acquisitions in the General Lighting Market
4. General Lighting Market - Macro Economic Scenario
5. Global General Lighting Market Size and Growth
6. General Lighting Market Segmentation
7. General Lighting Market Regional and Country Analysis
8. Asia-Pacific General Lighting Market
9. China General Lighting Market
10. India General Lighting Market
11. Japan General Lighting Market
12. Australia General Lighting Market
13. Indonesia General Lighting Market
14. South Korea General Lighting Market
15. Western Europe General Lighting Market
16. UK General Lighting Market
17. Germany General Lighting Market
18. France General Lighting Market
19. Italy General Lighting Market
20. Spain General Lighting Market
21. Eastern Europe General Lighting Market
22. Russia General Lighting Market
23. North America General Lighting Market
24. USA General Lighting Market
25. Canada General Lighting Market
26. South America General Lighting Market
27. Brazil General Lighting Market
28. Middle East General Lighting Market
29. Africa General Lighting Market
30. General Lighting Market Competitive Landscape and Company Profiles
31. General Lighting Market Other Major and Innovative Companies
35. General Lighting Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
General Lighting Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on general lighting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for general lighting? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product Type: Light Emitting Diode (LED); Compact Fluorescent Lamps (CFL); Linear Fluorescent Lamps (LFL); High Intensity Discharge (HID); Halogens; Incandescent
2) By End-user: Residential; Commercial; Outdoor; Industrial and Others
Key Companies Mentioned: Schneider Electric SE; Panasonic Corporation; Signify N.V.; Osram Licht AG; Acuity Brands, Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Schneider Electric SE
- Panasonic Corporation
- Signify N.V.
- Osram Licht AG
- Acuity Brands, Inc.
- Eaton Corporation PLC
- GE Lighting
- Advanced Lighting Technologies, LLC
- Honeywell International Inc.
- Wipro Limited
- Surya Roshni Ltd.
- Havell’s India Limited
- SSK Group
- Halonix
- Param LED Products
- MLS Lighting
- NVC International Holdings Limited
- OPPLE Lighting
- San’an Optoelectronics Co., Ltd
- Meka Electric Corporation
- YEELIGHT
- Odeer Lighting
- Longhorn Intelligent Tech Co., LTD
- Koninklijke Philips N.V.
- Decon Lighting Pvt. Ltd.
- Cooper Lighting
- LG Innotek
- Toshiba
- Perfand LEd
- Lena Lighting
- PXF Lighting
- Es-System
- ELBA
- Alpha Lighting
- Tes-Lamp
- Newled
- Elux
- Bergmen
- Ideal Industries
- Digital Lumens
- Dimonoff
- Cree
- LSI Industries Inc.
- Energy Focus, Inc.
- Lumileds
- OM lighting
- UL
- Dialight
- Sylvania Lighting
- Regency Lighting
- Frederico Lopes Leal
- Light Tool Industries E Comercio Ltd.
- Larsa Lighting
- Arrco
- Murano Lighting
- Led world me
- UC Lighting
- Lutron
- TRUST LED
- Citizen Electronics Co. Ltd.
- Energy Focus
- Shell Petroleum Development Corporation
- Light Line Investment Ltd
Methodology
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