Global LED Lighting Market TOC
Japanese Players
LED Lighting Market size was valued at USD 96.47 billion in 2024 and is likely to exceed USD 542.98 billion by the end of 2037, registering over 14.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of LED lighting is evaluated at USD 107.43 billion.
Furthermore, the market is also expected to generate volume of 242.23 billion units by the end of 2035, up from volume of 14.45 billion units in the year 2022. The growth of the market is set to be dominated by the growing demand for electricity. Lighting makes up roughly 15% of a typical home's electricity consumption, and shifting to LED lighting may result in annual energy savings of USD 225 for the typical household.
Moreover, even though LEDs are more expensive than conventional incandescent bulbs, they nonetheless result in cost savings due to their long lifespan and extremely low energy use. However, LED light bulbs have grown significantly less expensive since their introduction to the market, and prices are projected to fall considerably as more products becomes accessible.
Author Credits: Abhishek Verma
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