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LED Panel Light Market

Global LED Panel Light Market Analysis, Share, Forecast: By Type: Embedded, Suspended; By Application: Commercial/Industrial, Residential, Architectural, Residential, Industrial, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032

Global LED Panel Light Market Outlook

The global LED panel light market size was around USD 25.18 billion in 2023. The market is further projected to grow at a CAGR of 14% over the forecast period of 2024-2032 to attain a value of USD 81.88 billion by 2032.

 

LED Panel Light Market

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The LED panel light market is being driven by the rising environmental concern and the growing demand for eco-friendly products. The rapid technological advancement is further supporting the market growth globally. Retrofit, among other application segments, leads the market. The growth of the segment can be attributed to the increasing inclination of the masses towards the retrofitting of existing lighting fixtures with LED lights. These lighting solutions are extensively adopted across commercial spaces owing to their ability to start instantly, with no-restrike delays, in fast retrofitting situations. China is the leading market for LED panel light owing to the rapid urbanisation, strong growth of the economy, and the growing number of malls, hotels, and other commercial complexes in the country.

 

LED Panel Light Market by Application

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Market Segmentation

LED panel light is a kind of lighting fixture that is extremely energy-efficient, long-lasting, and cost-effective. It gives uniform light output and demands less maintenance. These lighting solutions are eco-friendly and have a longer lifespan than traditional lights. Owing to these benefits, LED panel lights are considered one of the best lighting alternatives for indoor settings, rapidly substituting conventional fluorescent ceiling lights and incandescent lamps. 

On the basis of application, the LED panel light 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 panel light market, which include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

 

LED Panel Light Market by Region

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Market Analysis

The global LED panel light industry is being supported by rising environmental concerns and growing awareness regarding the benefits of LED lights over traditional lights, such as compact fluorescent and incandescent lamps. LED panel lights are easy to install, serve as a cost-effective alternative for premium lighting solutions, are available in various designs and materials, and also come in different shapes and sizes such as LED panel lightbox series (square), LED panel light slim series (round), and others. The good structural design of these panels allows heat and light to dissipate from sides, which further improves their life span. Further, the availability of advanced features such as dimmability, remote plug and play drivers, emergency options, motion sensors and timers and compatibility with building controls are primarily driving the global demand for LED panel lights. Owing to these capabilities, LED panel lights have emerged as one of the best led lighting alternatives for indoor settings.

The rising concerns regarding climate change coupled with the growing acceptance of technology are leading to an increased preference for LED panel lights. As these lighting solutions consume a negligible amount of electricity, further containing non-hazardous materials such as high-grade extruded aluminum and steel, they are becoming a popular choice for use among consumers. Moreover, stringent government regulations pertaining to the use of environmentally friendly and sustainable products is providing a boost to the industry. The manufacturers and leading players in the LED panel light market are continuously innovating their products owing to the advancements in the LED technology, 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 panel light market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Signify N.V.
  • OPPLE Lighting Co., Ltd.
  • Acuity Brands, Inc.
  • Zhejiang Yankon Group Co. Ltd.
  • Panasonic Holdings Corp.
  • Lumiron Inc.
  • Osleder Lighting Technology Co., Ltd.
  • Cree Lighting USA LLC
  • Eaton Corporation PLC
  • Guangzhou Vorlane Optoelectronics Technology Co., Ltd.
  • 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.

 

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:

  • Type
  • Application
  • Region
Breakup by Type
  • Embedded
  • Suspended
Breakup by Application
  • Commercial/Industrial
  • Residential
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • 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 N.V.
  • OPPLE Lighting Co., Ltd.
  • Acuity Brands, Inc.
  • Zhejiang Yankon Group Co. Ltd.
  • Panasonic Holdings Corp.
  • Lumiron Inc.
  • Osleder Lighting Technology Co., Ltd.
  • Cree Lighting USA LLC
  • Eaton Corporation PLC
  • Guangzhou Vorlane Optoelectronics Technology Co., Ltd.
  • 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.

 

LED Panel Light Market Report Snapshots

LED Panel Light Market Size

LED Panel Light Market Analysis

LED Panel Light Companies

 

*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
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global LED Lighting Market Analysis

    8.1    Key Industry Highlights
    8.2    Global LED Lighting Historical Market (2018-2023) 
    8.3    Global LED Lighting Market Forecast (2024-2032)
9    Global LED Panel Light Market Analysis
    9.1    Key Industry Highlights
    9.2    Global LED Panel Light Historical Market (2018-2023) 
    9.3    Global LED Panel Light Market Forecast (2024-2032)
    9.4    Global LED Panel Light Market by Type
        9.4.1    Embedded
            9.4.1.1    Historical Trend (2018-2023)
            9.4.1.2    Forecast Trend (2024-2032)
        9.4.2    Suspended
            9.4.2.1    Historical Trend (2018-2023)
            9.4.2.2    Forecast Trend (2024-2032)
    9.5    Global LED Panel Light Market by Application
        9.5.1    Commercial/Industrial
            9.5.1.1    Historical Trend (2018-2023)
            9.5.1.2    Forecast Trend (2024-2032)
        9.5.2    Residential
            9.5.2.1    Historical Trend (2018-2023)
            9.5.2.2    Forecast Trend (2024-2032)
    9.6    Global LED Panel Light Market by Region
        9.6.1    North America
            9.6.1.1    Historical Trend (2018-2023)
            9.6.1.2    Forecast Trend (2024-2032)
        9.6.2    Europe
            9.6.2.1    Historical Trend (2018-2023)
            9.6.2.2    Forecast Trend (2024-2032)
        9.6.3    Asia Pacific
            9.6.3.1    Historical Trend (2018-2023)
            9.6.3.2    Forecast Trend (2024-2032)
        9.6.4    Latin America
            9.6.4.1    Historical Trend (2018-2023)
            9.6.4.2    Forecast Trend (2024-2032)
        9.6.5    Middle East and Africa
            9.6.5.1    Historical Trend (2018-2023)
            9.6.5.2    Forecast Trend (2024-2032)
10    North America LED Panel Light Market Analysis
    10.1    United States of America 
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Canada
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
11    Europe LED Panel Light Market Analysis
    11.1    United Kingdom
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Germany
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    France
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    Italy
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Others
12    Asia Pacific LED Panel Light Market Analysis
    12.1    China
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Japan
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    India
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    ASEAN
        12.4.1    Historical Trend (2018-2023)
        12.4.2    Forecast Trend (2024-2032)
    12.5    Australia
        12.5.1    Historical Trend (2018-2023)
        12.5.2    Forecast Trend (2024-2032)
    12.6    Others
13    Latin America LED Panel Light Market Analysis
    13.1    Brazil
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    Argentina
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Mexico
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    Others
14    Middle East and Africa LED Panel Light Market Analysis
    14.1    Saudi Arabia
        14.1.1    Historical Trend (2018-2023)
        14.1.2    Forecast Trend (2024-2032)
    14.2    United Arab Emirates
        14.2.1    Historical Trend (2018-2023)
        14.2.2    Forecast Trend (2024-2032)
    14.3    Nigeria
        14.3.1    Historical Trend (2018-2023)
        14.3.2    Forecast Trend (2024-2032)
    14.4    South Africa
        14.4.1    Historical Trend (2018-2023)
        14.4.2    Forecast Trend (2024-2032)
    14.5    Others
15    Market Dynamics
    15.1    SWOT Analysis
        15.1.1    Strengths
        15.1.2    Weaknesses
        15.1.3    Opportunities
        15.1.4    Threats
    15.2    Porter’s Five Forces Analysis
        15.2.1    Supplier’s Power
        15.2.2    Buyer’s Power
        15.2.3    Threat of New Entrants
        15.2.4    Degree of Rivalry
        15.2.5    Threat of Substitutes
    15.3    Key Indicators for Demand
    15.4    Key Indicators for Price  
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Signify N.V. 
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    OPPLE Lighting Co., Ltd. 
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Acuity Brands, Inc. 
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Zhejiang Yankon Group Co. Ltd.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Panasonic Holdings Corp.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Lumiron Inc. 
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Osleder Lighting Technology Co., Ltd.
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Cree Lighting USA LLC 
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Eaton Corporation PLC
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    Guangzhou Vorlane Optoelectronics Technology Co., Ltd.
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    Others
17    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.    Global LED Panel Light Market: Key Industry Highlights, 2018 and 2032
3.    Global LED Panel Light Historical Market: Breakup by Type (USD Million), 2018-2023
4.    Global LED Panel Light Market Forecast: Breakup by Type (USD Million), 2024-2032
5.    Global LED Panel Light Historical Market: Breakup by Application (USD Million), 2018-2023
6.    Global LED Panel Light Market Forecast: Breakup by Application (USD Million), 2024-2032
7.    Global LED Panel Light Historical Market: Breakup by Region (USD Million), 2018-2023
8.    Global LED Panel Light Market Forecast: Breakup by Region (USD Million), 2024-2032
9.    North America LED Panel Light Historical Market: Breakup by Country (USD Million), 2018-2023
10.    North America LED Panel Light Market Forecast: Breakup by Country (USD Million), 2024-2032
11.    Europe LED Panel Light Historical Market: Breakup by Country (USD Million), 2018-2023
12.    Europe LED Panel Light Market Forecast: Breakup by Country (USD Million), 2024-2032
13.    Asia Pacific LED Panel Light Historical Market: Breakup by Country (USD Million), 2018-2023
14.    Asia Pacific LED Panel Light Market Forecast: Breakup by Country (USD Million), 2024-2032
15.    Latin America LED Panel Light Historical Market: Breakup by Country (USD Million), 2018-2023
16.    Latin America LED Panel Light Market Forecast: Breakup by Country (USD Million), 2024-2032
17.    Middle East and Africa LED Panel Light Historical Market: Breakup by Country (USD Million), 2018-2023
18.    Middle East and Africa LED Panel Light Market Forecast: Breakup by Country (USD Million), 2024-2032
19.    Global LED Panel Light Market Structure  
 

Key Questions Answered in the Report

The global LED panel light market reached a value of USD 25.18 billion in 2023. 

The market is projected to grow at a CAGR of nearly 14% in the forecast period of 2024-2032.

The market is estimated to reach a value of about USD 81.88 billion by 2032.

The major drivers of the market include rising disposable incomes, rising construction sector, surging environmental concerns, and the growing awareness about the benefits and cost-effectiveness of LED lights.

The introduction of favourable government initiatives aimed at promoting the use of energy-efficient lighting, the growing concerns regarding rapid climate change, and technological advancements and product innovations are the key trends fuelling the market.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.

The various applications of LED panel light are retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial, among others.

The leading players in the market are Signify N.V., OPPLE Lighting Co., Ltd., Acuity Brands, Inc., Zhejiang Yankon Group Co. Ltd., Panasonic Holdings Corp., Lumiron Inc., Osleder Lighting Technology Co., Ltd., Cree Lighting USA LLC, Eaton Corporation PLC, Guangzhou Vorlane Optoelectronics Technology Co., Ltd., Others, among others.

Analyst Review

The global LED panel light market attained a value of USD 25.18 billion in 2023, driven by the rising environmental concern. Aided by the growing awareness regarding the benefits of LED lights over traditional lights and its cost-effectiveness, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 14%. The industry is projected to reach USD 81.88 billion by 2032. 

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 panel light 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 Signify N.V., OPPLE Lighting Co., Ltd., Acuity Brands, Inc., Zhejiang Yankon Group Co. Ltd., Panasonic Holdings Corp., Lumiron Inc., Osleder Lighting Technology Co., Ltd., Cree Lighting USA LLC, Eaton Corporation PLC, Guangzhou Vorlane Optoelectronics Technology Co., Ltd., Others, 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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