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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 106 billion
• Forecast CAGR (2020-2025): 5.5%
• Forecast Market Size (2025): USD 140 billion
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Industry Definition and Major Segments
Lighting is the planned arrangement of lighting systems in a room, street, shopping complex, and other commercial and public places to achieve practical or aesthetic illumination effects.
The market on the basis of technology can be divided into:
• LED
• Fluorescent
• Halogen
• Incandescent
• Others
On the basis of product, the market is divided into:
• Bulbs
• Tube Lights
• Flood Lights
• Others
On the basis of application, the market is divided into:
• Indoor
• Outdoor
Based on end use, the industry is categorised into:
• Residential
• Commercial
• Industrial
• Hospital
• Others
By distribution channels, the market can be segmented into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others
The major regional markets for the product include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The lighting market growth is expected to be higher in developing countries due to the increase in the construction activities of residential and commercial infrastructure. The market players would be deploying more energy-efficient lighting, which will be more sustainable over time. The introduction of new cost-effective measures to manufacture LED lighting would lower the production cost of LED lights, making it more accessible. Also, metal-organic chemical vapour deposition (MOCVD) is increasingly being preferred in the manufacturing process of LED devices as governments are providing subsidies on the purchase of this semiconductor equipment.
Key Market Players
The major players in the market are Signify N.V. (AMS: LIGHT), OSRAM GmbH (ETR: OSR), Schneider Electric SE (EPA: SU), Nichia Corporation, GE Lighting (NYSE: GE), Eaton Corporation plc (NYSE: ETN), and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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