An increase in demand for the energy-efficient lighting system, reduction in LED product costs, and ongoing smart city construction projects going around the globe are the major factors driving the growth of the Global LED Lighting Market in the forecast period.

New York, March 10, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Global LED Lighting Market, By Type, By Application, By Installation Type, By End-Use, By Distribution Channel, By Region, Competition Forecast and Opportunities, 2026" - investments made by leading authorities in research and development activities to find innovative solutions to lower the cost of LED lighting are creating lucrative opportunities for the growth of the Global LED Lighting Market.Organizations install LED lighting in their office premises to reduce electricity costs as LED lights are highly energy-efficient and consume less energy to provide maximum output.The growing disposable income of consumers enables them to afford a quality lifestyle and upgrade to adopt the latest technologies for their indoor lighting.Growing internet penetration and proliferation of smart devices and the rise in awareness about using smart connected lighting systems that consumers can control using mobile devices from remote locations is expected to create enormous potential for Global LED Lighting Market in the forecast period.However, lack of consumer awareness and using LED with incandescent fixtures may hinder the growth of the Global LED Lighting Market in the forecast period.The Global LED Lighting Market can be segmented based on Type, Application, Installation type, End-use, Distribution channel, and region.Based on application, the market is bifurcated into indoor lighting and outdoor lighting.The outdoor lighting is expected to hold the largest market share in the forecast period. The rise in the number of product launches, product innovations, and the increased expenditure by the government on improving the outdoor lighting system is driving the demand for outdoor lighting all over the globe.Signify N.V, Acuity Brands Inc., Osram GmBH, Seoul Semiconductor Co., Ltd., Zumtobel Lighting GmbH, General Electric Co, Fagerhult Group, Hubbell Incorporated, Everlight Electronics Co Ltd., Foshan Electrical & Lighting Co Ltd, Endo Lighting Corp, LSI Industries Inc., FW Thorpe Plc, Havells India Ltd, Dialight plc are the major players operating in the Global LED Lighting Market.Years considered for this report:Historical Years: 2016-2019Base Year: 2020Estimated Year: 2021EForecast Period: 2022F-2026FObjective of the Study:• To analyze the historical growth in the market size of the global LED lighting market from 2016 to 2020.• To estimate and forecast the market size of global LED lighting market from 2021 to 2026F and growth rate until 2026F.• To classify and forecast the global LED lighting market based on type, application, installation type, end use, distribution channel, competitional landscape, and regional distribution.• To identify the dominant region or segment in the global LED lighting market.• To identify drivers and challenges for the global LED lighting market.• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global LED lighting market.• To identify and analyze the profiles of leading players operating in the global LED lighting market.• To identify key sustainable strategies adopted by market players in the global LED lighting market.The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.The analyst calculated the market size of the global LED lighting market using a bottom-up approach, wherein data for various end use segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size.Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.Key Target Audience:• LED lighting manufacturers/ distributors• Market research and consulting firms• Government bodies such as regulating authorities and policy makers• Organizations, forums, and alliances related to LED lightingThe study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.Report Scope:In this report, the Global LED Lighting Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:• Global LED Lighting Market, By Type:o LED Bulbs and Lampso Batten Lightso Downlightso Others• Global LED Lighting Market, By Application:o Outdoor Lightingo Indoor Lighting• Global LED Lighting Market, By Installation Type:o Retrofit Installationo New Installation• Global LED Lighting Market, By End Use:o Commercialo Residentialo Industrial• Global LED Lighting Market, By Distribution Channel:o Direct Saleso Retail• Global LED Lighting Market, By Region:o Asia-Pacific China India Japan South Korea Australia Singapore Vietnamo North America United States Canada Mexicoo Europe Russia Germany France United Kingdom Italyo Middle East & Africa UAE Saudi Arabia Egypt South Africa Turkey Nigeriao South America Brazil Argentina Colombia ChileCompetitive LandscapeCompany Profiles: Detailed analysis of the major companies present in the Global LED Lighting Market.Available Customizations:With the given Market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:Company Information• Detailed analysis and profiling of additional market players (up to five).Read the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________

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Global LED Lighting Market valued at USD66.83 billion in 2020 and is projected to grow with a CAGR of 3.73% to reach USD81.09 billion by 2026