LED Lighting Market 2018 Global Sales, Size, Share, Competitive Analysis, Upcoming Opportunities | LED Industry Forecast by Installation Type, Product, Application

“LED Lighting Market”
Market Research Future published a half-cooked research report on “Global LED Lighting Market- Forecast to 2023” Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023. The LED Lighting Market is expected to grow at approximately USD 105 Billion by 2023, at 14% of CAGR between 2017 and 2023.

LED Lighting Market – Overview

Light emitting diode (LED) technology represents a major technological breakthrough and offers new prospects in the lighting industry. Light-emitting diode (LED) is one of today’s most energy-efficient and rapidly-developing lighting technologies. Due to high energy efficiency of LEDs, it offers significant energy saving. According to the European Commission (EC), the implementation of LEDs can save up to 70% of energy used for lighting as well as the energy costs. Moreover, maintenance costs can be reduced significantly. The importance of LED technology in the lighting industry has increased rapidly in the last few years. Bright, power-saving light emitting diodes produce not only pleasant light but also offer ecological and financial advantages compared with conventional light bulbs such as incandescent bulbs and CFLs. LEDs emits light in a specific direction thus reducing the need for reflectors and diffusers that can trap light. This feature makes LEDs more efficient for recessed down lights and task lighting.


The LED lighting Market is expected to grow owing to increasing demand by consumers for energy efficient lighting systems, various initiatives taken by the government for energy efficiency. With the advancement of LED technology and the variety of integrative smart applications, the lighting industry is growing rapidly. However, the high installation cost may restrain the growth of LED lighting market.


The prominent players in the Global LED Lighting Market are Phillips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), Osram Licht AG(Germany), Cree Inc. (U.S.), Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight Plc. (U.K.), Zumtobel Group AG (Austria), Samsung (South Korea), Sharp Corporation (Japan), among others, are profiled in Market Research Future analysis and are at the forefront of competition in the Global LED Lighting market.


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Industry News

January 18, Philips Lighting introduces new GreenPower LED toplighting at IPM Essen with higher efficacy, light output and a longer lifetime

Philips Lighting, the world leader in lighting, announced that the introduction of new GreenPower LED toplighting modules at IPM Essen that helps greenhouse growers improve the growth of lettuce, herbs and high-wire vegetable crops. The new version offers a higher light efficacy of up to 3.3 µmol/J, a longer lifetime of 35,000 burning hours and exceptional energy efficiency compared to the former toplighting module. It is designed to cost-efficiently enhance growth of high-wire tomato and cucumber crops by producing the optimal amount of light in a full LED system, while using less energy.


May 18, Philips Lighting acquires Chinese urban lighting company LiteMagic Technologies

Philips Lighting, the world leader in lighting, announced that it has entered into an agreement to acquire Shenzhen LiteMagic Technologies Co., Ltd., a Chinese manufacturer and seller of lighting luminaires and control systems for urban and façade lighting.With this acquisition, Philips Lighting expands its high-end portfolio of façade lighting with a complementary portfolio of luminaires and control systems to capture growth in the mid segment of the urban market.  It also helps the company to better capitalize on the large and fast-growing market for urban lighting in China. 


May 18, Samsung Electronics Begins Offering LED Component Solutions for Horticulture Lighting

Samsung Electronics, a world leader in advanced digital component solutions, announced that it is now offering LED component solutions that have been optimized for horticulture lighting. The company’s new horticulture LED lineup features a newly developed “red LED” in additions to key existing Samsung “white LED” package and module families to include horticulture lighting specifications. Samsung’s new horticultural LED – the LH351B Red – is a high-power package providing a wavelength of 660 nanometers (nm) with a photosynthetic photon flux (PPF)* value of 2.15 micromoles per second (μmol/s) (350mA), which makes it optimal for most types of horticulture lighting. The 660-nm wavelength helps to accelerate the growing of plants including their photosynthesis, as well as enrich the blooming of flowers.


LED lighting Market – Segmentation

Segmentation by Installation Type: New Installation and Retrofit Installation.

Segmentation by Product: Lamps and Luminaires.

Segmentation by Application: Indoor Lighting and Outdoor Lighting

Segmentation by Regions:  North America, Europe, APAC and Rest of the World.


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LED lighting Market – Regional Analysis

The regional analysis of LED Lighting Market is studied for North America, Europe, Asia Pacific and Rest of the World. LED lighting market is gaining momentum in Asia-Pacific region due to rapid infrastructure-building activities being undertaken in this region. In developing countries like India, Government had made available LED lights at subsidized rates to promote the use of LED lights over halogens and incandescent lighting products. Europe is expected to witness a healthy growth due to the rising demand for outdoor application paired with stringent energy efficiency regulation. The European Union has set the target to reduce their energy consumption by 20% by the year 2020. LED outdoor lighting will play an important role to achieve EU targets.


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