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Asia Pacific LED Lighting Market

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.

 

Asia Pacific LED Lighting Market

 

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:

  • Product
  • Application
  • End Use
  • Region
Breakup by Product
  • Lamps
  • Luminaire
Breakup by Application
  • Indoor
  • Outdoor
Breakup by End Use
  • Residential
  • Commercial
  • Industrial
  • Government
  • Highway and Roadway
  • Architectural
Breakup by Region
  • China
  • Japan
  • India
  • ASEAN
  • Australia 
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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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