General Lighting
How Are the key drivers contributing to the expansion of the general lighting market?
The steady growth in construction activities worldwide is driving up the demand for general lighting. There’s a necessity for lighting fixtures in office premises and residential buildings and this demand enhances in correlation with the increase in construction ventures. A study by Global Construction Perspectives and Oxford Economics predicts a surge of over 70% in the global construction market by 2025. This anticipated spike in construction activities is expected to positively stimulate the expansion of the general lighting market.
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What growth opportunities are expected to drive the general lighting market’s CAGR through 2034?
The market size for general lighting has experienced robust growth over the past few years. The market expects to expand from $99.17 billion in 2024 to $105.28 billion in 2025, at a compound annual growth rate (CAGR) of 6.2%. Factors contributing to this growth during the historic period include strong economic growth in burgeoning markets, a surge in voice assistant devices, a low-interest rate environment, enhanced internet penetration, heavy investment, and a rise in per capita income.
Projection for the general lighting market size suggests a significant expansion in the coming years, with estimates reaching $128.86 billion by 2029 through a compound annual growth rate (CAGR) of 5.2%. This forecasted growth is largely credited to the consistent hike in construction activities, falling manufacturing costs of LEDs, urbanization acceleration, escalating electricity usage, and population growth. Key trends within this period consist of an escalating demand for LI-FI (light fidelity), advances in human-centric and smart lighting, wellness-focused lighting technology, an uptick in mergers and acquisitions, the emergence of wi-fi enabled LED bulbs, new product deployments, and a heightened demand for LED lights due to their energy efficiency.
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What are the emerging trends shaping the future of the general lighting market?
There is a growing trend among businesses in utilizing Li-fi (Light Fidelity) network for the production of standard lighting equipment. Li-Fi, a wireless optical networking technology, leverages light-emitting diodes (LEDs) for transmitting data. It features bulbs that have a compact chip facilitating the modulation of light for data communication at a speed of up to 224 gigabits per second. In the year 2022, an announcement was made by Kyocera SLD Laser regarding their creation of the fastest Li-Fi system to date in the world.
Which growth-oriented segments of the general lighting market are leading the industry’s development?
The general lighting market covered in this report is segmented –
1) By Product Type: Light Emitting Diode (LED), Compact Fluorescent Lamps (CFL), Linear Fluorescent Lamps (LFL), High Intensity Discharge (HID), Halogens, Incandescent
2) By End User: Residential, Commercial, Outdoor, Industrial And Others
Subsegments:
1) By Light Emitting Diode (LED): LED Bulbs, LED Tubes, LED Downlights, Smart LED Lighting, Architectural LED Lighting
2) By Compact Fluorescent Lamps (CFL): Standard CFLs, CFL Reflectors, Dimmable CFLs, Specialty CFLs
3) By Linear Fluorescent Lamps (LFL): T5 Fluorescent Tubes, T8 Fluorescent Tubes, T12 Fluorescent Tubes, High Output (HO) Fluorescent Tubes
4) By High Intensity Discharge (HID): Metal Halide Lamps, High-Pressure Sodium (HPS) Lamps, Low-Pressure Sodium (LPS) Lamps, Mercury Vapor Lamps
5) By Halogens: Halogen Bulbs, Dimmable Halogen Lamps, Specialty Halogen Lamps
6) By Incandescent: Standard Incandescent Bulbs, Decorative Incandescent Lamps, Dimmable Incandescent Bulbs, Rough Service Incandescent Bulbs
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What regions are leading the charge in the general lighting market?
Asia-Pacific was the largest region in the general lighting market in 2024. North America was the second-largest region in the global general lighting market share. The regions covered in the general lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the general lighting market?
Major companies operating in the general lighting market include Schneider Electric SE, Panasonic Corporation, Signify N.V., Osram Licht AG, Acuity Brands, Inc., Eaton Corporation PLC, GE Lighting, Advanced Lighting Technologies, LLC, Honeywell International Inc., Wipro Limited, Surya Roshni Ltd., Havell’s India Limited, SSK Group, Halonix, Param LED Products, MLS Lighting, NVC International Holdings Limited, OPPLE Lighting, San’an Optoelectronics Co., Ltd, Meka Electric Corporation, YEELIGHT, Odeer Lighting, Longhorn Intelligent Tech Co., LTD, Koninklijke Philips N.V., Decon Lighting Pvt. Ltd., Cooper Lighting, LG Innotek, Toshiba, Perfand LEd, Lena Lighting, PXF Lighting, Es-System, ELBA, Alpha Lighting, Tes-Lamp, Newled, Elux, Bergmen, Ideal Industries, Digital Lumens, Dimonoff, Cree, LSI Industries Inc., Energy Focus, Inc., Lumileds, OM lighting, UL, Dialight, Sylvania Lighting, Regency Lighting, Frederico Lopes Leal, Light Tool Industries E Comercio Ltd., Larsa Lighting, Arrco, Murano Lighting, Led world me, UC Lighting, Lutron, TRUST LED, Citizen Electronics Co. Ltd., Shell Petroleum Development Corporation, Light Line Investment Ltd
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What Is Covered In The General Lighting Global Market Report?
• Market Size Forecast: Examine the general lighting market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the general lighting market for a structured understanding.
• Key Players Overview: Analyze major players in the general lighting market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the general lighting market.
• Segment Contributions: Evaluate how different segments drive overall growth in the general lighting market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the general lighting market.
• Industry Challenges: Identify potential risks and obstacles affecting the general lighting market.
• Competitive Landscape: Review strategic developments in the general lighting market, including expansions, agreements, and new product launches.
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