Lighting Equipment Market, (By Product Type: General Lighting, Automotive Lighting, Back Lighting. By Technology: LEDs, CFLs, LFLs, HIDs, Halogens, Incandescent. By End-Users: Residential, Commercial, Industrial. By Region - North America, Europe, Asia Pacific, and LAMEA) - Global Market Insights, Analysis, Growth, Trends, and Forecast 2022-2032

The global lighting equipment market was valued at $121.3 billion in 2021 and it is expected to reach $212.2 billion at a CAGR of 5.1% between 2022 and 2032. Lighting equipment is a kind of equipment, which is used to produce light energy. Two major factors such as the rapid growth of the worldwide population and increasing awareness amongst us to protect our environment and nature; hence, the global lighting equipment market is anticipated to witness a significant growth throughout the upcoming years.                     

By region, Asia-Pacific holds the maximum share of lighting equipment market across the globe.    

The growth rate of LED technology is increasing, which is further replacing the usage of Non-LED applications across the global market. Therefore, the adoption of energy-efficient lighting technology is growing in demand. Moreover, several major drivers such as increasing worldwide population, growing urbanization rate, integration and creation of advanced technology, and innovative products such as LED and other lights, are supporting the market to gain significant growth across the global market. These factors would serve as an opportunity for the lighting equipment market. Lighting equipment has several divisions such as lamps, fixtures, lighting controls, control gear, ballasts, and lighting management systems. The off-grid solar sector is growing significantly, as it is energy-efficient and provides other facilities for consumers. Over the last few years, the application of LEDs in the off-grid solar system has increased, which has further driven the market growth of lighting equipment. 

Source: SAI Research

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Based on product, the global lighting equipment market is segmented into general lighting, automotive lighting, and backlighting. The automotive lighting segment is expected to witness significant market growth during the forecast period due to its rising usage on the front, rear, sides, and other sides of the vehicle as well. Thus, it consists of lighting and signaling devices to benefit the customers and road users. It can alert other drivers and pedestrians to the presence of a vehicle while driving. General lighting is also expected to be the fastest-growing segment throughout the upcoming years due to the rising of LEDs in sectors such as stadiums, residences, offices, and others. 

Based on technology, the lighting equipment market is categorized into LEDs, CFLs, LFLs, HIDs, Halogens, and Incandescent. Among these, the LED segment is holding the largest market share across the globe. The adoption of LEDs is rising due to their usage in automotive vehicles, television screens, smart watches, smartphones, bulbs, and many more. Based on end-user, the residential segment is expected to dominate the lighting equipment market across the globe due to the rising demand for new and innovative products of lighting equipment at regular intervals. Additionally, the lighting manufacturing companies are focusing on designing new LED products, which will consume less electricity with better durability features. Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, Africa, and the Middle East Countries. Asia-Pacific region is expected to dominate the lighting equipment market in upcoming years due to the involvement of various small and large, registered and unregistered major players across the region.

According to the study, key players such as Philips Multinational Conglomerate Company (Netherlands), Eaton Corporation Company (U.S), AMS Company (Austria), General Electric Multinational Conglomerate Company (U.S), Warom Technology Inc Company (China), Zhejiang Tormin Electrical Co., Ltd. (Germany), Ocean’s King Lighting Company (China), Panasonic Industrial Conglomerate Company (Japan), Wolfspeed Company (U.S), Citizens Electric Corporation (U.S), Havells Home Appliance Company (India), LEDtronics Inc. (India), Acuity Brands (U.S), Lumerica Company (U.S), Koito Manufacturing Co. Ltd. (Japan), Stanley Electrics Company (Japan), Samsung Group Multinational Conglomerate Company (South Korea), Signify Lighting Company (Netherlands), LG Corporation Multinational Conglomerate Company (South Korea), Zumtobel Group Lighting Company (Austria), Seoul Semiconductor Co. Ltd (South Korea), Dialight Company (U.K), Trilux Company (Germany), MITSUBA Corporation Company (Japan), Valeo Automaker Company (France), Imasen Electric Industrial Co. Ltd. (Japan), among others are leading the global lighting equipment market. 

Scope of the Report:

The Global Lighting Equipment Market Has Been Segmented Into:

The Global Lighting Equipment Market – By Product Type: 

• General Lighting
• Automotive Lighting
• Back Lighting

The Global Lighting Equipment Market – By Technology:  

• LEDs
• CFLs
• LFLs
• HIDs
• Halogens
• Incandescent

The Global Lighting Equipment Market – By End-Users:

• Residential
• Commercial
• Industrial

The Global Lighting Equipment Market – By Regions:  

North America 

• U.S.
• Canada
• Mexico

Europe

• Germany
• France
• Italy
• U.K.
• Russia
• Rest of Europe Countries

Asia-Pacific

• India
• China
• Japan
• South Korea
• North Korea
• Rest of Asian Countries

LAMEA

• Brazil
• Saudi Arabia
• Rest of LAMEA