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Global Lighting Market to Grow at a CAGR of 5.5% During 2021-2026, Bolstered by the Rising Demand for Energy-Efficient Lighting Solutions

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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Global Lighting Market: By Technology: LED, Fluorescent, Halogen, Incandescent; By Product: Bulbs, Streetlights, Downlights, Tube Lights, Flood Lights; By Application: Indoor, Outdoor; By End Use; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Lighting Market Outlook

The global lighting market reached a value of about USD 106 billion in 2020. The market is further expected to grow at a CAGR of 5.5% in the forecast period of 2021-2026 to reach a value of approximately USD 140 billion by 2026.

 

LED Lighting to Pave the Way for the Lighting Market Growth

Based on technology, LED lighting has become one of the most preferred technologies among consumers and is further expected to witness the highest growth rate in the forecast period. The surge in the demand for LEDs is the result of the rising environmental concern and favourable government initiatives. With energy becoming more expensive and the growing scarcity of resources, LEDs have become the go-to option for the consumers across the globe.

 

Lighting Market

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Global Lighting Market Witnessing Rapid Expansion in Developing Regions

Region-wise, the market is witnessing a rapid expansion in the developing regions, particularly the Asia Pacific and the Middle East and Africa. The industry is growing in the Middle East due to huge infrastructure investments, rising population, and the upcoming mega-events, which are ultimately creating an enhanced demand for lighting systems. The Gulf Co-operation Council (GCC) lighting market is expected to be a major emerging market in the coming years owing to its commitment to reduce carbon footprints and electricity demand, which is further supported by favourable government policies.

 

Lighting: Industry Definition and Segmentation

Lighting, also referred to as illumination, is the deliberate use or arrangement of lights in a room, shopping complex, street, and other places to achieve practical or aesthetic effects. The different types of artificial light sources, including lamps and light fixtures, among others, are widely available in the market.

Based on technology, the global lighting market can be divided into:

  • LED
  • Fluorescent
  • Halogen
  • Incandescent
  • Others

The various products available in the industry include:

  • Bulbs
  • Streetlights
  • Downlights
  • Tube Lights
  • Flood Lights
  • Others

Based on application, the lighting market is bifurcated into:

  • Indoor
  • Outdoor

On the basis of end use, the industry is divided into:

  • Residential
  • Commercial
  • Industrial
  • Agricultural
  • Hospital
  • Others

The various distribution channels of the product are as follows:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Shift Away from Incandescent Lights to Influence the Lighting Market Positively

The global lighting market is being driven by the growing demand for lighting from end-use sectors and the rising consumer awareness regarding sustainable use of resources. The industry has witnessed a robust evolution and the transformation from incandescent to the light-emitting diodes (LED) has significantly contributed to the industry growth. The evolution has allowed end-users to choose from a wide range of options like FTLs, CFLs, LEDs, and others, according to their requirements. LEDs have become the most popular lighting technology as it reduces the energy consumption, comes with better life expectancy, and is affordable in nature as compared to traditional lighting technologies. Moreover, they do not harm the environment like fluorescent or incandescent lamps.

The lighting market growth is estimated to be higher in the developing regions owing to the increasing awareness and rising access to the product. Due to the favourable government policies, like the use of LEDs for streetlighting, there has been an increase in the sale of the product, thus, aiding the overall industry. The growing R&D activities to innovate enhanced lighting technologies are expected to propel the industry growth further.

 

Key Industry Players in the Global Lighting Market

The report gives a detailed analysis of the following key players in the global lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Signify N.V.
  • OSRAM GmbH
  • Schneider Electric SE
  • Nichia Corporation
  • GE Lighting
  • Eaton Corporation plc
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 Lighting Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Lighting Historical Market (2016-2020) 
    8.3    Global Lighting Market Forecast (2021-2026)
    8.4    Global Lighting Market by Technology
        8.4.1    LED
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Fluorescent
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Halogen
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Incandescent
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Others
    8.5    Global Lighting Market by Product
        8.5.1    Bulbs
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Streetlights
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Downlights
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Tube Lights
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Flood Lights
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2016-2020)
            8.5.5.3    Forecast Trend (2021-2026)
        8.5.6    Others
    8.6    Global Lighting Market by Application 
        8.6.1    Indoor
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Outdoor
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Lighting Market by End Use
        8.7.1    Residential
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Commercial
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Industrial
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Agricultural
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2016-2020)
            8.7.4.3    Forecast Trend (2021-2026)
        8.7.5    Hospital
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2016-2020)
            8.7.5.3    Forecast Trend (2021-2026)
        8.7.6    Others
    8.8    Global Lighting Market by Distribution Channel
        8.8.1    Supermarkets and Hypermarkets
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Convenience Stores
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
        8.8.3    Specialty Stores
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2016-2020)
            8.8.3.3    Forecast Trend (2021-2026)
        8.8.4    Online
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2016-2020)
            8.8.4.3    Forecast Trend (2021-2026)
        8.8.5    Others
    8.9    Global Lighting Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Comparative Analysis
13    New Technology
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Company Profiles
        14.3.1    Signify N.V.
            14.3.1.1    Company Overview
            14.3.1.2    Product Portfolio
            14.3.1.3    Demographic Reach and Achievements
            14.3.1.4    Certifications
        14.3.2    OSRAM GmbH
            14.3.2.1    Company Overview
            14.3.2.2    Product Portfolio
            14.3.2.3    Demographic Reach and Achievements
            14.3.2.4    Certifications
        14.3.3    Schneider Electric SE
            14.3.3.1    Company Overview
            14.3.3.2    Product Portfolio
            14.3.3.3    Demographic Reach and Achievements
            14.3.3.4    Certifications
        14.3.4    Nichia Corporation
            14.3.4.1    Company Overview
            14.3.4.2    Product Portfolio
            14.3.4.3    Demographic Reach and Achievements
            14.3.4.4    Certifications
        14.3.5    GE Lighting
            14.3.5.1    Company Overview
            14.3.5.2    Product Portfolio
            14.3.5.3    Demographic Reach and Achievements
            14.3.5.4    Certifications
        14.3.6    Eaton Corporation plc
            14.3.6.1    Company Overview
            14.3.6.2    Product Portfolio
            14.3.6.3    Demographic Reach and Achievements
            14.3.6.4    Certifications
        14.3.7    Others
15    Industry Events and Developments


List of Figures and Tables

1.    Global Lighting Market: Key Industry Highlights, 2016 and 2026
2.    Global Lighting Historical Market: Breakup by Technology (USD Billion), 2016-2020
3.    Global Lighting Market Forecast: Breakup by Technology (USD Billion), 2021-2026
4.    Global Lighting Historical Market: Breakup by Product (USD Billion), 2016-2020
5.    Global Lighting Market Forecast: Breakup by Product (USD Billion), 2021-2026
6.    Global Lighting Historical Market: Breakup by Application (USD Billion), 2016-2020
7.    Global Lighting Market Forecast: Breakup by Application (USD Billion), 2021-2026
8.    Global Lighting Historical Market: Breakup by End Use (USD Billion), 2016-2020
9.    Global Lighting Market Forecast: Breakup by End Use (USD Billion), 2021-2026
10.    Global Lighting Historical Market: Breakup by Distribution Channel (USD Billion), 2016-2020
11.    Global Lighting Market Forecast: Breakup by Distribution Channel (USD Billion), 2021-2026
12.    Global Lighting Historical Market: Breakup by Region (USD Billion), 2016-2020
13.    Global Lighting Market Forecast: Breakup by Region (USD Billion), 2021-2026
14.    North America Lighting Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    North America Lighting Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Europe Lighting Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Europe Lighting Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Asia Pacific Lighting Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Asia Pacific Lighting Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Latin America Lighting Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Latin America Lighting Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Middle East and Africa Lighting Historical Market: Breakup by Country (USD Billion), 2016-2020
23.    Middle East and Africa Lighting Market Forecast: Breakup by Country (USD Billion), 2021-2026
24.    Global Lighting Market Structure

Key Questions Answered in the Report

What was the global lighting market size in 2020?

In 2020, the global lighting market attained a value of nearly USD 106 billion. 

What is the growth rate of the market?

The market is projected to grow at a CAGR of 5.5% between 2021 and 2026.

What is the forecast outlook of the market for 2021-2026?

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 140 billion by 2026.

What are the major industry drivers?

The major drivers of the industry, such as rising disposable incomes, increasing population, rapid urbanisation, growing infrastructure projects, and favourable government regulations, are expected to aid the market growth.

What are the key industry trends of the global lighting market?

The key trends guiding the growth of the lighting market include the adoption of smart lighting products and the rising technological advancements.

What are the major regional markets of lighting, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What is the leading technology type of lighting in the industry?

The leading technology type of lighting in the industry is LED.

What are the major lighting products in the industry?

The major lighting products in the industry are bulbs, streetlights, downlights, tube lights, and flood lights, among others.

What are the dominant application segments in the industry?

The dominant application segments in the industry are indoor and outdoor.

What are the major end-use sectors in the industry?

The major end-use sectors in the industry are residential, commercial, industrial, agricultural, and hospital, among others.

What are the leading distribution channels in the market?

The leading distribution channels in the industry are supermarkets and hypermarkets, convenience stores, specialty stores, and online, among others.

Who are the key industry players, according to the report?

The major players in the industry are Signify N.V., OSRAM GmbH, Schneider Electric SE, Nichia Corporation, GE Lighting, and Eaton Corporation plc, among others.

Analyst Review

The global lighting market attained a value of USD 106 billion in 2020, driven by the rising infrastructure investments. Aided by the technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 5.5%. The lighting market is projected to reach USD 140 billion by 2026.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By technology, the industry can be segmented into LED, fluorescent, halogen, and incandescent, among others, with LED accounting for the largest market share. Based on product, the industry is divided into bulbs, streetlights, downlights, tube lights, and flood lights, among others. The industry on the basis of application is bifurcated into indoor and outdoor. Based on end use, the market is segmented into residential, commercial, industrial, agricultural, and hospital, among others. The major distribution channels in the industry are supermarkets and hypermarkets, convenience stores, specialty stores, and online, among others. The major regional markets for lighting are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Signify N.V., OSRAM GmbH, Schneider Electric SE, Nichia Corporation, GE Lighting, and Eaton Corporation plc, 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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