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How has the Energy-Efficient Lighting market size evolved in recent years?

In the past few years, the market size for energy-efficient lighting has seen substantial growth. It is projected to increase from $55.27 billion in 2024 to $60.3 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. Factors contributing to the growth during the historic period include government policies, environmental consciousness, cost-effectiveness, and consumer demand.

What are the predictions for the energy-efficient lighting market size in the coming years?

The market size for energy-efficient lighting is projected to witness robust growth in the coming years, escalating to $80.9 billion by 2029 with a compound annual growth rate (CAGR) of 7.6%. The predicted growth over the forecast period can be associated with factors such as the integration of smart lighting, progress in urbanization and infrastructure, targets for energy efficiency, market widen in developing nations, and promotional programs and rebates. The key trends foreseen during the forecast period encompass the incorporation of the internet of things (IoT), lighting solutions that are human-centric, the adoption of circadian lighting, the advancement of Li-Fi technology, and the growth of the horticultural lighting market.

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What key factors are fueling the growth of the energy-efficient lighting market?

The surge in the energy-efficient lighting market is projected to be prompted by the government’s efforts to enhance energy efficiency. These endeavours are characterized by the deployment of programs, strategies, or measures to curb energy usage and boost energy effectiveness. Government actions play a crucial role in propelling the development of energy-efficient lighting by setting standards, backing research and development, and encouraging collaboration across sectors. For example, the Department for Energy Security and Net Zero, a government department based in the UK, reported in March 2024 that approximately 318,600 energy efficiency measures were implemented via government plans in 2023, a significant rise of 49% compared to 2022. As a result, the energy-efficient lighting market is being stimulated by the government’s initiatives to improve energy efficiency.

How is the global energy-efficient lighting market divided into key segments?

The energy-efficient lighting market covered in this report is segmented –

1) By Type: High-Intensity Discharge Lamps (HID), Linear Fluorescent Lamps (LFL), Light Emitting Diodes (LED), Other Types

2) By Application: Residential, Commercial, Industrial, Outdoor, Other Applications

3) By End-User: Government, Healthcare, Education, Retail, Hospitality, Other End-Users

Subsegments:

1) By High-Intensity Discharge Lamps (HID): Metal Halide Lamps, High Pressure Sodium (HPS) Lamps, Low Pressure Sodium (LPS) Lamps

2) By Linear Fluorescent Lamps (LFL): T5 Fluorescent Lamps, T8 Fluorescent Lamps, T12 Fluorescent Lamps

3) By Light Emitting Diodes (LED): LED Bulbs, LED Tubes, LED Fixtures

4) By Other Types: Compact Fluorescent Lamps (CFL), Organic Light Emitting Diodes (OLED), Induction Lamps

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Who are the key firms paving the way for growth in the energy-efficient lighting market?

Major companies operating in the energy-efficient lighting market are General Electric Company, Schneider Electric SE, ABB Group, Toshiba corporation, Philips Lighting, Eaton Corporation, Signify N.V., OSRAM GmbH, Hubbell Lighting Inc., Acuity Brands, Zumtobel Group AG, Seoul Semiconductor Co. Ltd., Cree Inc., Bajaj Electricals Ltd., Leviton Manufacturing Co. Inc., Dialight, Lumileds Holding B.V., Cooper Lighting, The Lighting Quotient, Bridgelux Inc., Soraa Inc., Advanced Lighting Technologies Australia Inc., Nichia Corporation, Savant Systems Inc.

Which trends are expected to transform the energy-efficient lighting market?

Leading corporations in the energy-efficient lighting market are honing in on the creation of novel products, including those with various color temperature choices, particularly in cooler shades (3000K and 4000K). Color temperature is a reference to the perceived appearance of light coming from a source, expressed in Kelvin (K), demonstrating whether a light seems warm (more toward yellow/red hues) or cool (more bluish). November 2022 saw the Netherlands-based lighting company, Signify, debut ultra-efficient lighting solutions, purporting to be 50% more efficient than the conventional LED products. This new line of ultra-efficient lighting delivers notable energy savings, up to 60% when compared to typical LEDs. Complying with recent energy efficiency standards, they are reported to have longevity up to 100,000 hours. Perfect for a range of commercial environments, they offer significant cost savings and a reduced carbon footprint. They also come in varying wattages and color temperatures to accommodate different customer tastes.

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What regions are contributing significantly to the growth of the energy-efficient lighting market?

Europe was the largest region in the energy-efficient lighting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy-efficient lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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