BlueWeave Consulting Global LED Lighting Market Growth Analysis by Prod

Global LED Lighting Market, by Product, by End-Use Industry, by
Application, by Distribution Channel, by Region; Size and Forecast,
2014-2025
Global LED Lighting Market
Global electricity consumption has been increasing rapidly in several industrial and residential sector.
Due to industrial revolution and shift in consumer preference toward better infrastructure, technology
& gadgets and lifestyle. Owing to rising demand for electricity and depleting natural resources such as
coal, oil, etc. electricity cost is also increasing. According to International Energy Agency (IEA) lighting
accounts for over 19.1% of global electricity consumption and creates 1.9 billion tons of CO2 emissions
annually. Switch to LED lighting will help in saving average 50% in energy costs, which results in global
savings of USD 160 billion and 1.5 billion barrels of oil every year thereby diminishing prices of LED
lighting will propel the demand for LED lightning over the years.
According to a new market report published by BlueWeave Consulting, the Global LED lighting
Market was valued at US$ 34.0 Bn in 2017 and is expected to expand at a CAGR of 13.7% from 2018 to
2025, reaching US$ 98.4 Bn by the end of the forecast period.
The growing need among consumer for energy efficient lighting systems for various purposes is
driving the Global LED Lighting market.
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Rising urban population and consumer shift towards energy efficient lighting system will positively drive
the LED lighting Market. Since the scarcity of natural resources and costs of energy are increasing, LED
lighting is among the most cost-effective products to reduce the depletion of natural energy resources.
The demand for energy-efficient lighting systems is increasing across residential, commercial, and
industrial sectors due to growing industrialisation across the globe, increase in residential areas with
better interior decorations owing to the changing lifestyle of people. The lower cost of operation along
with reduced heat losses makes them the appropriate replacement for incandescent lights. Significant
reductions in the price of LED lighting systems in recent years have enhanced the adoption of various
LED lighting products worldwide. In addition, governments have introduced favourable regulations
regarding the conventional lighting and energy consumption across the United States, European Union,
China, and India that are expected to favor the market demand for LED lighting.
The Global LED Lighting market is segmented on the basis of product, end-user industry, application, and
distribution channel. On the basis of product, the market is segmented into LED bulbs, led