Lighting Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 139.53 Billion |
| Market Size (2030) | USD 196.88 Billion |
| CAGR (2025 - 2030) | 7.13% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Lighting Market Analysis
The Lighting Market size is estimated at USD 139.53 billion in 2025, and is expected to reach USD 196.88 billion by 2030, at a CAGR of 7.13% during the forecast period (2025-2030).
- The global lighting market has undergone substantial changes, propelled by technological innovations, a heightened focus on sustainability, and evolving consumer preferences. LED lighting, celebrated for its energy efficiency, durability, and declining costs, has captured a significant share of the market.
- The rise of smart lighting systems, particularly those harnessing the power of IoT (Internet of Things) and sensors drives market growth. These smart-systems not only offer energy savings but also enable remote control, automation, and customization (such as through mobile applications). IoT-driven lighting solutions are increasingly prevalent, especially in commercial and industrial arenas. Such systems facilitate automated control, real-time monitoring, and data analysis, thereby enhancing operational efficiency and optimizing energy consumption.
- Global energy efficiency regulations, notably in the European Union and the U.S., are accelerating the shift towards energy-efficient lighting solutions. Governments are incentivizing the adoption of LED lighting and other energy-saving technologies. Furthermore, heightened environmental awareness among consumers plays a pivotal role in market growth. Energy-efficient lighting not only curtails energy consumption but also minimizes carbon footprints, resonating with eco-conscious consumers, especially in residential settings.
- As cities, particularly in developing economies, undergo rapid urbanization and expansion, the demand for lighting across residential, commercial, and industrial sectors surges. This heightened need for urban infrastructure is propelling the demand for street lighting, smart lighting, and advanced lighting systems.
- Although the costs of smart lighting systems have been decreasing, the initial investment for these solutions, particularly in large-scale commercial and industrial applications, remains high. This significant upfront cost continues to impede widespread adoption.
- Inflation impacts the prices of essential raw materials, including copper, aluminum, phosphors, and semiconductors, all vital for lighting products, particularly LEDs. Rising costs of these materials lead to increased production expenses for manufacturers, who may then transfer these costs to consumers, resulting in price hikes for lighting products. Furthermore, as inflation rises, disposable income for consumers typically shrinks, prompting more cautious spending. Consequently, in the lighting sector, there's a noticeable dip in demand for premium or luxury lighting solutions, with consumers leaning towards prioritizing essential products and services.
Lighting Market Trends
LED is Expected to Hold Signficant Share
- LED lamps, or light-emitting diode lamps, are a type of lighting fixture that uses LED technology to produce light. LED lamps are designed to replace traditional incandescent or fluorescent lamps, providing the same or better lighting quality while using less energy and lasting longer.
- Moreover, the surging popularity of smart lighting systems, controllable via smartphones and other devices, has further fueled the demand for LED lights. This surge is attributed to the fact that, unlike fluorescent systems, LED lighting seamlessly integrates with smart controls. This integration fosters intelligent and responsive environments in homes, offices, and urban settings, ensuring light is delivered precisely when and where needed.
- In the retail industry, LEDs' bright illumination effectively highlights products on display and helps set the desired mood within the store. Both retail outlets and offices benefit financially in the long run from LEDs. These lamps consume less energy, boast an extended lifespan, and don't emit heat, facilitating easier temperature regulation.
- LED luminaires offer significant environmental benefits. Unlike fluorescent lamps that contain toxic materials like mercury, LED luminaires are safer to use and easier to dispose of. Furthermore, they emit less heat than traditional lamps, which reduces the need for air conditioning and lowers energy consumption.
Asia Pacific is Expected to Witness a High Market Growth Rate
- The Asia Pacific region is set to witness a rise in demand for lighting solutions, primarily due to the increasing need for energy-efficient lighting and various government initiatives promoting their use across different industries. LED lights are becoming more popular in the region because of their low power consumption, long lifespan, and wide range of color options.
- Innovative features such as dimming technology, motion sensors, and Bluetooth connectivity are driving the growth of LED lights in the Asia Pacific market. Additionally, smart lighting products like voice-activated lights, motion sensors, and timers are becoming more popular in commercial and residential settings due to their convenience and energy-saving benefits. The growing demand for energy-efficient lighting among numerous end-users is expected to boost market growth in the Asia Pacific region. Many professionals prefer LED lighting for its competitive advantages over conventional compact fluorescent lamps and other lighting options.
- LED lighting enhances worker productivity, improves quality control, and simplifies operations. These lighting solutions are also safe and cost-effective. LED lighting improves light levels and quality while significantly reducing energy consumption. These factors are driving the adoption of energy-efficient lighting within the studied timeframe. In India, key players in the LED lighting market are finding significant business potential due to factors such as increasing internal demand, zero tariffs on LED lights, and the promotion of the 'Make in India' initiative.
- Developing countries, notably India and Vietnam, are witnessing a surge in demand for LED lighting, including smart LEDs, presenting a significant opportunity for domestic markets. For example, MeitY (India) projected India's LED production value at approximately INR 144 billion for the fiscal year 2021. Additionally, India launched the Unnat Jyoti by Affordable LEDs for All (UJALA) program to encourage widespread LED adoption, alongside the Domestic Efficient Lighting Program (DELP) to replace incandescent bulbs with LEDs.
- In parallel, China's "Thousand Cities Million Lights Initiative" aims to swap out conventional lights for energy-efficient LEDs in over 1,000 cities. Japan, on the other hand, rolled out the Lighting Standardization Act to enhance lighting efficiency via LEDs. The heightened demand for LED products stems from increased awareness of their efficiency and proactive government initiatives across the region. Such endeavors are poised to drive the growth of the Asia-Pacific lighting market in the foreseeable future.
Lighting Industry Overview
The lighting market is highly fragmented, with global and local conglomerates and specialized players operating across various segments. While several large multinational companies dominate specific high-value segments, numerous regional and niche players contribute to the overall competition, making the market highly diverse. This fragmentation is driven by the demand for the lighting market across a wide range of end-user verticals, allowing both large and small companies to coexist and thrive in the market.
Leading companies in the lighting market include Signify N.V., Wipro Ltd., Bajaj Electricals Ltd, Halonix, Havells India Limited, Syska, MIC Electronics, Surya Roshini, Crompton Greaves Consumer Electricals Limited, and OSRAM GmbH. These companies have established strong brand recognition and extensive global operations, enabling them to command significant market share. Their strengths lie in innovation, broad product portfolios, and strong distribution networks. These leaders often engage in strategic acquisitions and partnerships to maintain their competitive edge and expand their market reach.
Major companies operating in the market are focusing on mergers and acquisitions, innovation and product development owing to rising demand for LED lamps and luminaires/fixtures. Key vendors focus on creating energy-efficient LED lighting solutions. Additionally, they're emphasizing the development of smart, connected lighting systems. By integrating IoT, sensors, and AI, these systems aim to deliver energy-saving solutions across residential, commercial, and industrial sectors.
Lighting Market Leaders
-
Signify N.V.
-
Wipro Ltd.
-
Havells India Limited
-
OSRAM GmbH
-
Heliospectra AB.
- *Disclaimer: Major Players sorted in no particular order
Lighting Market News
- February 2024: Nichia has unveiled chip-scale packaging (CSP) LEDs that offer distinct light distribution capabilities, setting it apart from traditional LEDs. Central to this innovation are the newly introduced Cube Direct Mountable Chips. These chip-scale packaging (CSP) LEDs are engineered to enhance light emission, particularly from the sides of the package.
- October 2023: ams OSRAM has launched its first street-approved LED retrofit lamp for H1 sockets. The OSRAM NIGHT BREAKER H1-LED upgrades low-beam and high-beam headlights to advanced LED technology. It emits bright white light with a color temperature of up to 6,000 Kelvin. A key feature of this LED retrofit lamp is its low glare level, which is up to 40 percent less than the allowed maximum value.
Lighting Industry Segmentation
Lighting, or illumination, refers to the intentional application of light for practical or aesthetic purposes. It encompasses both artificial sources, such as lamps and fixtures, and the natural capture of daylight.
The study tracks the revenue accrued through the sale of lighting products by various players across the globe. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyses the overall impact of COVID-19 aftereffects and other macroeconomic factors on the market. The report’s scope encompasses market sizing and forecasts for the various market segments.
The lighting market is segmented by product type (luminaires/fixtures, and lamps), light source(LED and conventional), application(commercial, industrial, and residential), and geography (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The market sizes and forecasts regarding value (USD) for all the above segments are provided.
| By Product Type | Luminaires/Fixtures |
| Lamps | |
| By Light Source | LED |
| Conventional | |
| By Application | Commercial |
| Industrial | |
| Residential | |
| By Geography*** | North America |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Middle East and Africa | |
| Latin America |
| Luminaires/Fixtures |
| Lamps |
| LED |
| Conventional |
| Commercial |
| Industrial |
| Residential |
| North America |
| Europe |
| Asia |
| Australia and New Zealand |
| Middle East and Africa |
| Latin America |
Lighting Market Research Faqs
How big is the Lighting Market?
The Lighting Market size is expected to reach USD 139.53 billion in 2025 and grow at a CAGR of 7.13% to reach USD 196.88 billion by 2030.
What is the current Lighting Market size?
In 2025, the Lighting Market size is expected to reach USD 139.53 billion.
Who are the key players in Lighting Market?
Signify N.V., Wipro Ltd., Havells India Limited, OSRAM GmbH and Heliospectra AB. are the major companies operating in the Lighting Market.
Which is the fastest growing region in Lighting Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Lighting Market?
In 2025, the Asia Pacific accounts for the largest market share in Lighting Market.
What years does this Lighting Market cover, and what was the market size in 2024?
In 2024, the Lighting Market size was estimated at USD 129.58 billion. The report covers the Lighting Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Lighting Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Lighting Industry Report
Statistics for the 2025 Lighting market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Lighting analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
