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Asia Pacific LED Lighting Market Size, Share, Forecast: By Product: Lamps, Luminaire; By Application: Indoor, Outdoor; By End Use: Residential, Commercial, Industrial, Government, Highway and Roadway, Architectural; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Asia Pacific LED Lighting Market Outlook
The Asia Pacific LED lighting market size reached USD 20.12 billion in 2023. The market is expected to grow at a CAGR of 7.5% between 2024 and 2032, reaching almost USD 38.66 billion by 2032.
Key Takeaways:
- In January 2020, the Indian Ministry announced the installation of over 361.3 million LED bulbs and 10.3 million smart LED streetlights nationwide through programs like UJALA and the LED Street Lighting National Program. This initiative is expected to save an estimated 6.97 billion kWh/year in energy.
- As per industry reports, China boasts a high rate of homeownership, with over 90% of households owning homes and more than 20% owning multiple properties, surpassing rates seen in many developed nations. This significant homeownership may drive demand for LED lighting in the country.
- China's automotive industry plays a crucial role in the economy, contributing over CNY 10 trillion (USD 1.4 trillion) in gross output in 2021, equivalent to almost 10% of China's GDP. The industry's robust growth is attributed to policy incentives, capital support, and increasing consumer demand. In May 2022, China introduced a policy aimed at boosting new energy vehicle (NEV) sales in rural areas.
Asia-Pacific, with 60% of the global population, is experiencing significant growth in the adoption of LED technology driven by various factors. China, a key player in the region, sees a high rate of homeownership, particularly in lower socioeconomic strata where over 60% of residents own homes. The construction industry in countries like Indonesia is thriving due to rapid population growth, with a notable increase in residential buildings. This trend fuels the demand for LEDs in the building sector across the region while driving the Asia Pacific LED lighting market growth.
The automotive industry also contributes to LED demand, with China leading in passenger car sales, surpassing 23.6 million units in 2022. This rise in automotive sales boosts the need for LED lighting in vehicles.
Smart lighting is gaining traction as consumers seek efficient and user-friendly lighting systems. LEDs are favoured for their longevity and energy efficiency, driving demand for smart lighting products across homes and cities. Major players like Philips Lighting and GE Lighting Solutions are innovating to meet market demands, while startups capitalise on this trend.
In the era of AI and IoT, smart lighting plays a pivotal role in developing smart cities. Governments across Asia-Pacific, including India, China, and Japan, are integrating smart lighting into their smart city initiatives. This technology not only enhances energy efficiency but also facilitates data collection for city management.
The smart lighting market is propelled by automation technologies that enable centralised control of lighting systems in homes, offices, and streets. LED technology offers longevity and quality lighting, making it ideal for indoor and outdoor applications. As businesses and consumers recognise the benefits of intelligent and connected lighting, the trend towards smart LED lighting with IoT integration is poised for rapid growth, transforming the lighting landscape across, and playing a crucial role in the Asia Pacific LED lighting market development.
Market Segmentation
Asia Pacific LED Lighting Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
- Lamps
- A-Type
- T-Type
- Others
- Luminaire
- Streetlight
- Downlight
- Troffers
- High Bay
- Track Lights
- Suspended Pendants
- Others
Market Breakup by Application
- Indoor
- Outdoor
Market Breakup by End Use
- Residential
- Commercial
- Industrial
- Government
- Highway and Roadway
- Architectural
Market Breakup by Country
- China
- Japan
- India
- ASEAN
- Australia
- Others
Competitive Landscape
Key players in the LED lighting market in Asia Pacific offer products and services through acquisitions and implementation of technological advancements in the products to support the end users.
- Signify NV
- Panasonic Corp.
- Eaton Corporation Plc
- OSRAM Licht AG
- Nichia Corporation
- SMART Global Holdings, Inc.
- Samsung Electronics Co Ltd.
- Acuity Brands, Inc.
- Seoul Semiconductor Co., Ltd.
- EVERLIGHT Electronics Co., Ltd.
- EPISTAR Corporation
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
|
| Breakup by Application |
|
| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global LED Lighting Market Overview
8.1 Key Industry Highlights
8.2 Global LED Lighting Historical Market (2018-2023)
8.3 Global LED Lighting Market Forecast (2024-2032)
8.4 Global LED Lighting Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Asia Pacific LED Lighting Market Overview
9.1 Key Industry Highlights
9.2 Asia Pacific LED Lighting Historical Market (2018-2023)
9.3 Asia Pacific LED Lighting Market Forecast (2024-2032)
10 Asia Pacific LED Lighting Market by Product
10.1 Lamps
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 A-Type
10.1.3.2 T-Type
10.1.3.3 Others
10.2 Luminaire
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Street Light
10.2.3.2 Downlight
10.2.3.3 Troffers
10.2.3.4 High Bay
10.2.3.5 Track Lights
10.2.3.6 Suspended Pendants
10.2.3.7 Others
11 Asia Pacific LED Lighting Market by Application
11.1 Indoor
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Outdoor
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Asia Pacific LED Lighting Market by End Use
12.1 Residential
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Industrial
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Government
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Highway and Roadway
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Architectural
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
13 Asia Pacific LED Lighting Market by Country
13.1 China
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Japan
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 ASEAN
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Signify NV
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Panasonic Corp.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Eaton Corporation Plc
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 OSRAM Licht AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Nichia Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 SMART Global Holdings, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Samsung Electronics Co Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Acuity Brands, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Seoul Semiconductor Co., Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 EVERLIGHT Electronics Co., Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 EPISTAR Corporation
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global LED Lighting Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific LED Lighting Market: Key Industry Highlights, 2018 and 2032
3. Asia Pacific LED Lighting Historical Market: Breakup by Product (USD Billion), 2018-2023
4. Asia Pacific LED Lighting Market Forecast: Breakup by Product (USD Billion), 2024-2032
5. Asia Pacific LED Lighting Historical Market: Breakup by Application (USD Billion), 2018-2023
6. Asia Pacific LED Lighting Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. Asia Pacific LED Lighting Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. Asia Pacific LED Lighting Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. Asia Pacific LED Lighting Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Asia Pacific LED Lighting Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Asia Pacific LED Lighting Market Structure
Key Questions Answered in the Report
The market is estimated to be valued at USD 20.12 billion in 2023.
The market is projected to grow at a CAGR of 7.5% between 2024 and 2032.
The LED lighting market is expected to witness significant growth to reach USD 38.66 billion in 2032.
The market is categorised according to its application, which includes indoor and outdoor.
The key market players are Signify NV, Panasonic Corp., Eaton Corporation Plc, OSRAM Licht AG, Nichia Corporation, SMART Global Holdings, Inc., Samsung Electronics Co Ltd., Acuity Brands, Inc., Seoul Semiconductor Co., Ltd., EVERLIGHT Electronics Co., Ltd., EPISTAR Corporation, and others.
The market is driven by factors that include technological advancements, increasing demand from automotive industry, shifting trend towards smart LED lighting with IoT integration, among others.
The market is categorised according to its end use, which includes residential, commercial, industrial, government, highway and roadway, and architectural.
Koninklijke Philips N.V.: Koninklijke Philips N.V. (Netherlands), commonly known as Philips Lighting is a prominent player in the global LED lighting landscape.
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