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Report Overview
The global lighting market size reached around USD 128.76 Billion in 2024. The market is projected to grow at a CAGR of 7.30% between 2025 and 2034 to reach nearly USD 260.48 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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China aims to introduce more than 300 light products in 2024, as an attempt to enhance its competitiveness in the market.
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According to the United Nations, the global population will grow to just under 10bn by 2050.
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The United States has planned to transform the nation’s energy use so that more technologies run on clean energy by 2050.
Global Lighting Market Analysis by Region
The Asia Pacific is experiencing rapid urbanisation, industrialisation, and economic development, which provides substantial opportunities for the lighting market expansion. Countries like China and India are leading this expansion, driven by their massive population bases, growing middle classes, and increasing investments in infrastructure development. This growth is not only in residential and commercial lighting but also in industrial and public infrastructure projects, which require advanced lighting solutions.
The Middle East and Africa lighting market is also witnessing growth, fuelled by infrastructure investments, a rising population, and increasing number of mega-events. The Middle East is hosting significant international events, such as World Expos and sports tournaments, necessitating extensive infrastructure development, including state-of-the-art lighting systems.
Meanwhile, Europe and North America are increasingly focusing on technological advancements while following the regulatory environment for sustainability.
Lighting Market Report Snapshots
*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.*
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Key Questions Answered in the Report
In 2024, the market reached an approximate value of USD 128.76 Billion.
The market is projected to grow at a CAGR of 7.30% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 260.48 Billion by 2034.
The major drivers of the market are the rising disposable incomes, increasing population, rapid urbanisation, and growing infrastructure projects.
The key trends aiding the market expansion include growing health awareness, improving food production capabilities, and growing demand for plant-based and natural products with the rising trend of veganism.
The different lighting products in the market are bulbs, streetlights, downlights, tube lights, and flood lights, among others.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major players are Signify Holding, OSRAM GmbH, Eaton Corporation, Cree Lighting, Nichia Corporation, GE Lighting, Seoul Semiconductor Co., Ltd., Everlight Electronics Co., Ltd., Hubbell Incorporated, Zumtobel Group, Siteco GmbH, Panasonic Holdings Corporation, and Havells India Ltd., among others.
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