Reports
Global LED Downlight Market: By Application: Retrofit, Retail and Hospitality, Outdoor, Offices, Architectural, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Manufacturing Process; Project Details, Requirements and Costs Involved; Competitive Landscape; Industry Events and Developments
Global LED Downlight Market Outlook
The global LED downlight market size was around USD 22.17 billion in 2022. The LED downlight market is further projected to grow at a CAGR of 8.6% over the forecast period of 2023-2028 to attain a value of USD 36.33 billion by 2028.
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The LED downlight industry is being driven by the rising environmental concern and growing demand for eco-friendly products. The rapid technological advancement is further supporting the LED downlight market growth globally. Retrofit, among other application segments, leads the global LED downlight market. The growth of the segment can be attributed to the growing inclination of the masses towards the retrofitting of existing lighting fixtures with LED lights. These lights are extensively adopted across residential as well as commercial spaces.
China is the leading market in the global LED downlight industry owing to the favourable government initiatives, such as the provision of large-scale subsidies upon installing LED lights, coupled with increased consumer awareness.
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Market Segmentation
LED downlights are recessed light fixtures that are installed in a ceiling via a hollow opening. These lighting solutions are extremely energy-efficient and eco-friendly. They emit light in a downward direction with a narrow beam. These lights have a longer lifespan than traditional lights, emitting minimum heat radiation, and thus, these lights have emerged as a viable alternative to compact fluorescent and incandescent lamps.
On the basis of application, the LED downlight market is divided into:
- Retrofit
- Retail and Hospitality
- Outdoor
- Offices
- Architectural
- Residential
- Industrial
The report also covers the major regional markets in the global LED downlight market, which include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The global LED downlight market is being supported by the rising environmental concern and growing awareness regarding the benefits of LED lights over traditional lights, such as compact fluorescent and incandescent lamps. LED downlights are easy to install, serve as a cost-effective alternative for premium lighting solutions, are available in different shapes and sizes, and also offer design material alternatives such as aluminium die cast frame, stainless steel frame, metallized or white reflector, and others. Rising disposable incomes, coupled with a growing focus on improving aesthetics of a house, building, office, and other spaces and benefits provided by LED downlights, are primarily driving the growth of the market. Owing to capabilities like withstanding rough conditions, including external shocks and vibrations and exposure to extreme weather, LED downlights have emerged as a preferred choice for outdoor lighting systems.
The rising concerns regarding climate change, coupled with the growing acceptance of technology, are leading to an increased preference for LED downlights. As these lighting solutions consume a negligible amount of electricity, further emitting a lesser amount of ultraviolet (UV) rays, they are becoming a popular choice for use among consumers. Moreover, stringent government regulations pertaining to the use of environmentally friendly and sustainable products are providing a boost to the industry. The growing incorporation of LED lighting across various sectors to curb energy waste is boosting their sales. The manufacturers and leading players in the LED downlight industry are continuously innovating their products, which is expected to further aid the industry growth over the forecast period.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global LED downlight market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ELCO Lighting
- Nora Lighting
- JESCO Lighting Group LLC
- DMF Lighting
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region |
| Breakup by Application | Retrofit, Retail and Hospitality, Outdoor, Offices, Architectural, Residential, Industrial |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | ELCO Lighting, Nora Lighting, JESCO Lighting Group LLC, DMF Lighting, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global LED Lighting Market Overview
8.1 Key Industry Highlights
8.2 Global LED Lighting Historical Market (2018-2022)
8.3 Global LED Lighting Market Forecast (2023-2028)
8.4 Global LED Lighting Market by Product Type
8.4.1 LED Lamps
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Modules
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Fixtures
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global LED Lighting Market by Application
8.6 Global LED Lighting Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Global LED Downlight Market Analysis
9.1 Key Industry Highlights
9.2 Global LED Downlight Historical Market (2018-2022)
9.3 Global LED Downlight Market Forecast (2023-2028)
9.4 Global LED Downlight Market by Application
9.4.1 Retrofit
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 Retail and Hospitality
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
9.4.3 Outdoor
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2022)
9.4.3.3 Forecast Trend (2023-2028)
9.4.4 Offices
9.4.4.1 Market Share
9.4.4.2 Historical Trend (2018-2022)
9.4.4.3 Forecast Trend (2023-2028)
9.4.5 Architectural
9.4.5.1 Market Share
9.4.5.2 Historical Trend (2018-2022)
9.4.5.3 Forecast Trend (2023-2028)
9.4.6 Residential
9.4.6.1 Market Share
9.4.6.2 Historical Trend (2018-2022)
9.4.6.3 Forecast Trend (2023-2028)
9.4.7 Industrial
9.4.7.1 Market Share
9.4.7.2 Historical Trend (2018-2022)
9.4.7.3 Forecast Trend (2023-2028)
9.5 Global LED Downlight Market by Region
9.5.1 Market Share
9.5.1.1 North America
9.5.1.2 Europe
9.5.1.3 Asia Pacific
9.5.1.4 Latin America
9.5.1.5 Middle East and Africa
10 Regional Analysis
10.1 North America
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.1.3 Breakup by Country
10.1.3.1 United States of America
10.1.3.2 Canada
10.2 Europe
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.2.3 Breakup by Country
10.2.3.1 United Kingdom
10.2.3.2 Germany
10.2.3.3 France
10.2.3.4 Italy
10.2.3.5 Others
10.3 Asia Pacific
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.3.3 Breakup by Country
10.3.3.1 China
10.3.3.2 Japan
10.3.3.3 India
10.3.3.4 ASEAN
10.3.3.5 Australia
10.3.3.6 Others
10.4 Latin America
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.4.3 Breakup by Country
10.4.3.1 Brazil
10.4.3.2 Argentina
10.4.3.3 Mexico
10.4.3.4 Others
10.5 Middle East and Africa
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.5.3 Breakup by Country
10.5.3.1 Saudi Arabia
10.5.3.2 United Arab Emirates
10.5.3.3 Nigeria
10.5.3.4 South Africa
10.5.3.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyers Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Manufacturing Process
13.1 Detailed Process Flow
13.2 Operations Involved
13.3 Mass Balance
14 Price Analysis
14.1 Price Structure
14.2 Price Trends
15 Project Details, Requirements and Costs Involved
15.1 Land Requirements and Expenditures
15.2 Construction Requirements and Expenditures
15.3 Plant Machinery
15.4 Machinery Pictures
15.5 Raw Material Requirements and Expenditures
15.6 Raw Material and Final Product Pictures
15.7 Packaging Requirements and Expenditures
15.8 Transportation Requirements and Expenditures
15.9 Utility Requirements and Expenditures
15.10 Manpower Requirements and Expenditures
15.11 Other Capital Investments
15.12 Loans and Financial Assistance
16 Project Economics
16.1 Capital Cost of the Project
16.2 Techno-Economic Parameters
16.3 Product Pricing and Margins Across Various Levels of the Supply Chain
16.4 Taxation and Depreciation
16.5 Income Projections
16.6 Expenditure Projections
16.7 Financial Analysis
16.8 Profit Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players’ Market Share
17.3 Company Profiles
17.3.1 ELCO Lighting
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.1.3 Demographic Reach and Achievements
17.3.1.4 Certifications
17.3.2 Nora Lighting
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Demographic Reach and Achievements
17.3.2.4 Certifications
17.3.3 JESCO Lighting Group LLC
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
17.3.3.3 Demographic Reach and Achievements
17.3.3.4 Certifications
17.3.4 DMF Lighting
17.3.4.1 Company Overview
17.3.4.2 Product Portfolio
17.3.4.3 Demographic Reach and Achievements
17.3.4.4 Certifications
17.3.5 Others
18 Industry Events and Developments
List of Key Figures and Tables
1. Global LED Lighting Market: Key Industry Highlights, 2018 and 2028
2. Global LED Lighting Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global LED Lighting Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global LED Lighting Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global LED Lighting Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global LED Lighting Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global LED Lighting Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. Global LED Downlight Market: Key Industry Highlights, 2018 and 2028
9. Global LED Downlight Historical Market: Breakup by Application (USD Billion), 2018-2022
10. Global LED Downlight Market Forecast: Breakup by Application (USD Billion), 2023-2028
11. Global LED Downlight Historical Market: Breakup by Region (USD Billion), 2018-2022
12. Global LED Downlight Market Forecast: Breakup by Region (USD Billion), 2023-2028
13. North America LED Downlight Historical Market: Breakup by Country (USD Billion), 2018-2022
14. North America LED Downlight Market Forecast: Breakup by Country (USD Billion), 2023-2028
15. Europe LED Downlight Historical Market: Breakup by Country (USD Billion), 2018-2022
16. Europe LED Downlight Market Forecast: Breakup by Country (USD Billion), 2023-2028
17. Asia Pacific LED Downlight Historical Market: Breakup by Country (USD Billion), 2018-2022
18. Asia Pacific LED Downlight Market Forecast: Breakup by Country (USD Billion), 2023-2028
19. Latin America LED Downlight Historical Market: Breakup by Country (USD Billion), 2018-2022
20. Latin America LED Downlight Market Forecast: Breakup by Country (USD Billion), 2023-2028
21. Middle East and Africa LED Downlight Historical Market: Breakup by Country (USD Billion), 2018-2022
22. Middle East and Africa LED Downlight Market Forecast: Breakup by Country (USD Billion), 2023-2028
23. Global LED Downlight Market Structure
Key Questions Answered in the Report
The global LED downlight market reached a value of USD 22.17 billion in 2022.
The market is projected to grow at a CAGR of nearly 8.6% in the forecast period of 2023-2028.
The market is estimated to reach a value of about USD 36.33 billion by 2028.
The major market drivers include the growing awareness regarding the benefits of LED downlight, the cost-effectiveness of LED downlight, the robust growth of the construction sector.
The introduction of favourable government initiatives promoting the use of sustainable and energy-efficient products and product innovations by manufacturers are the key trends guiding the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The significant applications of LED downlight are retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial.
The leading players in the market are ELCO Lighting, Nora Lighting, JESCO Lighting Group LLC, and DMF Lighting, among others.
Analyst Review
The global LED downlight market attained a value of USD 22.17 billion in 2022 driven by the rising technology and the increasing awareness among consumers. Aided by the increasing environmental regulations and the increasing incorporation of LED lights across various sectors, the industry is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 8.6%. The industry is projected to reach USD 36.33 billion by 2028.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. On the basis of application, the retrofit sector accounts for the largest share in the global industry. The major regional markets for LED downlight are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include ELCO Lighting, Nora Lighting, JESCO Lighting Group LLC, and DMF Lighting, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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