In 2022, The Output Value Of The LED Lighting Market Will Exceed 8.1 Billion US Dollars

Governments around the world have higher and higher requirements for energy saving. It is expected that the output value of the lighting LED market will have the opportunity to reach 8.11 billion US dollars in 2022, with a year-on-year increase of 9.2%. In the next few years, the lighting LED market size will continue to grow driven by factors such as human-centric lighting (HCL), smart lighting, etc., and is expected to reach US$11.1 billion by 2026, with a compound annual growth rate(CAGR) of 8.4% from 2021 to 2026.

Even though under the continued impact of the epidemic in 2022, the popularity of vaccines and the recovery of economic activity, at the same time with the growing rigid demand of the lighting market as a daily necessity in recent years and the global "carbon neutrality" background, the energy saving proceeding has prompted many major countries to achieve net-zero emissions by adopting measures such as energy efficiency improving and low-carbon heating. Lighting is the main energy consumer in buildings, accounting for 20%-30% of total building energy consumption. Driven by the upgrade of aging equipment, the penetration rate of LED will continue to increase. In addition, smart lighting can also achieve the purpose of timely energy saving.

The gradual recovery of the lighting market is clearly reflected in the 2021 vendor revenue rankings.