Industrial And Commercial Light-Emitting Diode (LED) Lighting Global Market Report 2024

Industrial and commercial light-emitting diode (LED) lighting refers to the use of LED technology specifically designed for lighting applications in non-residential settings such as factories, warehouses, offices, retail spaces, and outdoor areas. LED lighting has become increasingly popular in these sectors due to its energy efficiency, long lifespan, and environmental benefits compared to traditional lighting technologies such as incandescent and fluorescent lamps.

The main types of industrial and commercial LED lighting products are LED lamps and LED fixtures. LED lamps are electric lights that use light-emitting diodes (LEDs) to produce light. These lamps are significantly more energy-efficient than equivalent incandescent and fluorescent lamps, with the most efficient commercially available LED lamps achieving efficiencies exceeding 200 lumens per watt (LM/W). Installations of LED lighting systems include both new installations and retrofit projects, facilitated through various distribution channels such as direct sales and wholesalers. These lighting solutions find applications in indoor and outdoor settings, serving a wide range of end users including commercial offices, retail stores, hospitality venues, healthcare facilities, industrial environments, architectural projects, and other sectors.

The industrial and commercial light-emitting diode (LED) lighting market research report is one of a series of new reports that provides industrial and commercial light-emitting diode (LED) lighting market statistics, including industrial and commercial light-emitting diode (LED) lighting industry global market size, regional shares, competitors with an industrial and commercial light-emitting diode (LED) lighting market share, detailed industrial and commercial light-emitting diode (LED) lighting market segments, market trends, and opportunities, and any further data you may need to thrive in the industrial and commercial light-emitting diode (LED) lighting industry. This industrial and commercial light-emitting diode (LED) lighting 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 industrial and commercial light-emitting diode (LED) lighting market size has grown rapidly in recent years. It will grow from $41.09 billion in 2023 to $49.03 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth during the historic period can be attributed to several factors, including the increasing popularity of LED lighting among industries due to its numerous benefits, rising demand for cost-saving lighting solutions, growing awareness and adoption of energy-efficient LED technology, government initiatives and programs promoting LED adoption, and the escalating need to replace outdated conventional lighting systems with more efficient alternatives such as LEDs.

The industrial and commercial light-emitting diode (LED) lighting market size is expected to see rapid growth in the next few years. It will grow to $100.08 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to several factors, including the declining manufacturing costs of LEDs, rising demand for intelligent lighting systems, increasing adoption of LED lighting products across various applications, ongoing construction of new buildings and infrastructure projects, and the use of high-efficacy mid-power LEDs for commercial indoor lighting. Major trends expected in the forecast period include continuous technological advancements in LED technology, increasing investments in industrial-grade LED technologies, growing initiatives to modernize infrastructure with energy-efficient lighting solutions, evolution of lighting technologies to enhance efficiency and performance, and rapid development in the field of lighting technology to meet diverse market needs.

The industrial and commercial light-emitting diode (LED) lighting market is set to expand due to increasing construction activities. Construction activities encompass a wide range of tasks involved in building, modifying, and maintaining structures and infrastructure, essential for residential, commercial, industrial, and civil engineering projects. This growth is driven by factors such as population growth, urbanization, economic development, and the need for updated infrastructure and modern living and working spaces. Industrial and commercial LED lighting plays a crucial role in contemporary construction projects by offering efficient, sustainable, and visually appealing lighting solutions for both indoor and outdoor applications. For example, the US Census Bureau reported in June 2024 that construction activity values increased from $1.97 trillion in 2023 to $2.09 trillion in 2024, marking a growth rate of 10%. This surge in construction of new structures is fueling the demand for industrial and commercial LED lighting.

Leading companies in the industrial and commercial LED lighting market are focusing on innovative lighting solutions to enhance energy efficiency and light management across various industries and applications. For instance, LED iBond A/S, based in Denmark, launched its 2nd generation of LED grow lights, specifically the HORTISABER LED grow lights, in November 2023. These lights are designed for industrial greenhouses and offer substantial energy savings of up to 60% compared to traditional grow light lamps. This efficiency is critical for industrial greenhouses seeking to optimize energy consumption and reduce operational costs, while the lights' 6-meter length supports more efficient use of greenhouse space.

In February 2022, GE Current, a US-based energy management solutions provider, acquired Hubbell C&I Lighting to strengthen its position in the industrial and commercial lighting market. This acquisition enables GE Current to integrate advanced LED technologies and expand its portfolio of energy-efficient lighting solutions. Hubbell C&I Lighting, also based in the US, specializes in manufacturing industrial and commercial LED lighting solutions.

Major companies operating in the industrial and commercial light-emitting diode (LED) lighting market are Samsung Electronics Co. Ltd., Panasonic Corporation, Eaton Corporation plc, Koninklijke Philips N.V., Stanley Black & Decker Inc., Signify Holding B.V., Osram Licht AG, Hubbell Inc., Acuity Brands Inc., Havells India Ltd., Hafele Gmbh & Co., Zumtobel Group AG, Lutron Electronics Co. Inc., Thorn Lighting Ltd., Cree Lighting USA LLC, General Electric Lighting, Dialight plc, Progress Lighting, Siteco GmbH, Kichler Lighting LLC, WAC Lighting, LEDiL, Maxim Lighting International Inc., Csl Lighting Inc.

North America was the largest region in the industrial and commercial light-emitting diode (LED) lighting market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the industrial and commercial light-emitting diode (LED) lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the industrial and commercial light-emitting diode (LED) lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial and commercial light-emitting diode (LED) lighting market consists of sales of LED bulbs, fixtures, retrofit kits, smart LED lighting systems, and lighting control systems. 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.


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