LED Lighting Market Regional Analysis

What makes Asia Pacific the top market for LED lighting in 2024?

Asia Pacific is the largest of the world's LED lighting markets, supported by accelerated urbanization, government policies promoting energy efficiency, and growing smart city initiatives. China and Japan are the major countries due to strong manufacturing bases and policies, and rising economies like India have strong growth prospects on the back of investment in infrastructure.

The China LED Lighting Market

China stands with its strong manufacturing base and high penetration across industries. China held around 34% market share of the regional indoor LED lighting market in 2024, influenced by industrial base and government policies supporting energy-efficient technologies. Urbanization in the country as well as smart city developments further drive demand for sophisticated LED lighting.

India LED Lighting Market

India is witnessing huge growth in LED lighting due to urbanization, expansion of infrastructure, and government schemes such as UJALA, which has handed out more than 370 million LED bulbs. Smart Cities Mission and an estimated 93 million dwellings by 2036 are the prime movers.

Japan LED Lighting Market

Japan's established LED market has excellence and innovation standards. Smart city development and LED retrofitting get stimulated by government subsidies. Office upgrade, commercial property, and entertainment venues contribute significantly.

How do emerging technologies in the North America Drive the Growth of the LED Lighting Market?

North America takes the leadership in the LED lighting market with excellent support from government for energy-saving technology and extensive smart city implementation. The United States is the leader in the market with massive R&D and infrastructure upgrade investments, while Canada emphasizes green lighting products, propelling consistent market growth within the region.​

US LED Lighting Market

United States dominates the LED lighting market this is propelled by stringent energy efficiency standards, including the 2023 phase-down of the overwhelming majority of incandescent bulbs, and initiatives like the Smart Street Lighting NY program that will replace 500,000 streetlights with LEDs by 2025. Cities around the world are incorporating large LED retrofit projects to promote energy efficiency and public safety, such as Chicago and Philadelphia.

Canada LED Lighting Market

Canada is witnessing rapid growth in LED lighting adoption, driven by government incentives and smart city programs. For example, the city of Laval gave the green light to replace 37,000 streetlights with LED and intelligent controls, in order to save USD 2.75 million a year. Such initiatives indicate Canada's interest in energy efficiency and upgrading public infrastructure. 

How is Europe Maintaining Its Position in LED Lighting Market?

Europe dominates the LED lighting market, with the country being driven by strict energy needs and government spending on green city lighting schemes. Germany and the UK are the leaders in high-end intelligent lighting schemes, with rapidly expanding Eastern European countries experiencing increasing demand supported by EU-funded innovation and energy-saving initiatives.​

Germany LED Lighting Market

Germany is at the forefront of transformation, fueled by effective energy efficiency policies and a focus on technological innovation. A focus on policies like the Energy Efficiency Act, that aims to reduce energy consumption by 26.5% by 2030, further fuels this transition. And technologies like ams OSRAM's h-Digi microLED module make choosing LED more viable across many sectors.

France LED Lighting Market

France is heading towards LED penetration driven by regulation and smart building policies. Halogen bulb phase-out has raised the penetration of the LED market from 45% in 2019 to 74% in 2023. Government policies promote energy saving through a 40% reduction in energy consumption by 2030, 15% being through lighting modernization. A good case in point is the USD 790.98 million Paris agreement for the installation of 70,000 LED streetlights as replacements for the current ones.

Spain LED Lighting Market

Spain has the fastest-growing LED lighting market in Europe. Government schemes, smart city projects of Madrid and Barcelona, and embracing energy-efficient solutions propel it. The uptake of smart lighting systems and the ban on incandescent bulbs also accelerate market growth.