According to TrendForce’s latest market research report 2022 Global LED Lighting Market Analysis-1H22, the lighting industry has increasingly emphasized the light quality of products (e.g., CRI, R9 value, and SDCM), and HCL for health. Moreover, the rising trends of luminaire digitalization and light- and color tuning in LED lighting products have stimulated smart LED penetration. Nowadays, new technological applications and potential demand have contributed to growth in the lighting market. TrendForce projects the global LED lighting market scale to reach USD 72.10 billion in 2022 (+11.7%YoY) and hit USD 93.47 billion in 2026(Remarks: LED lighting market size adds brands and white-box products in this report).

 

2022 LED Lighting Market Trend and Outlook

 

Regarding analysis on the market by product type, the demand for lamps and luminaires will grow in 2022. In the long run, however, that for LED lamps will slow down mainly due to decreased replacement demand and consumers’ increasing preference for luminaire products. The 2020-2022 CAGR for lamps and luminaires will be 8.5% and 12.0%, respectively.

 

Regarding product applications, in the coming years, lighting products will be engineered with various sensors and communication sensors, plus increased connected lighting penetration rate. Moreover, the demand for energy-saving LED modification will soar as the global community is striving for net-zero emissions. Therefore, applications for commercial, residential, outdoor, and industrial lighting will create opportunities for further market growth.

 

 

Global Connected LED Lighting Market Trend

 

Mainly benefiting from the decrease in the cost of integrated connected lighting solutions and the increasing demand for connected lighting systems by end consumers, driving the growth of IoT lighting market, particularly in connected residential lighting market. In addition, that of the government's investment in smart building lighting, smart city development and industrial automation also promotes the demand of connected lighting market. TrendForce estimates that the global connected LED lighting market scale will grow by 21.5% to USD 8.19 billion in 2022.

 

Global Lighting Market Policy and Regulation Analysis

 

TrendForce indicated that LED-related policies and regulations have become stricter following lighting technology innovation and changes in market demand.

 

CRI & R9: Quality of color reproduction is a crucial consideration for LED lighting applications. particularly those of commercial (retail, art exhibition, and photography), special (healthcare and printing), and high-end residential lighting products. Regionally speaking, the EU has been promoting the ErP new energy label, imposing much stricter requirements of the CRI and energy efficiency. In North America, DLC V5.1 will focus on three areas, namely light quality (performance and health), light controllability, and luminous efficacy. In China, policies proposed in 2022 will emphasize health impact of educational lighting products, where luminaires requesting assessment of blue light hazard to the retina are regulated by the strictest safety standard. Therefore, the demand for low blue light lighting will give rise to stable development for the human centric lighting market.

 

Global LED Horticultural Lighting Market Trend

 

In 2H21, the LED horticultural lighting market failed to meet expectations as applications and demand were sluggish due to delayed ocean freight schedules, shortage of PMICs, and broader factors such as negative political effects. Particularly, increased shipping costs exerted greater impact on end luminaire manufacturers.

 

Nonetheless, LED horticultural lighting applications are still on the rise thanks to rapid growth in medical and recreational cannabis markets across North America and other areas. Moreover, as extreme climate events occur more frequently, more indoor farms have been built to ensure food supply and security. Furthermore, farmers demand for more lighting products with the rise of smart agriculture. The said factors have boosted LED penetration. According to the latest data compiled by TrendForce, the LED horticultural lighting market scale will jump by 10.4% to USD 1.85 billion globally with a 2021-2026 CAGR of 13.0%.  

 

2020-2021(E) LED Lighting Suppliers Revenues Performance

 

As TrendForce’s latest analysis reveals, lighting market demand gradually recovered globally in 2021, along with increased prices of lighting products and their development trends of all-in-one luminaires and system smartification, thus lighting manufacturers are expected to see an increase of 3%-13% in revenues for 2021. Most of them, to identify customers’ needs and habits, have applied connected control technologies to create healthy, safe, and humanized lighting experiences, which will serve as a driving force behind the revenue growth. (By Christine Liu/Analyst of TrendForce Corp.)

 

TrendForce 2022 Global LED Lighting Market Analysis - 1H22

Release Date: February 11, 2022

File Format: PDF / Excel

Language: Traditional Chinese / English

Page: 120

 

Chapter I. Global Lighting Market Trend

•       TrendForce LED Lighting Market Scale- Methodology

•       TrendForce LED Lighting Market- Product Definition

•       TrendForce LED Lighting Market Product Definition- Lamps

•       TrendForce LED Lighting Market Product Definition- Luminaires

•       Connected Lighting to Create Second Growth Curve for LED Lighting Industry

•       2021-2026 Global LED Lighting Market Scale- by Product

•       2021-2026 Global LED Lighting Market Scale- by Region

•       2021-2022 Global LED Lighting Market Forecast- by Product

•       2021 Global LED Lighting Market - Value Based: by Region vs. Product

•       2022 Global LED Lighting Market - Value Based: by Region vs. Product

•       2026 Global LED Lighting Market - Value Based: by Region vs. Product

•       2021-2026 Global LED Lighting Market Forecast- by Application

 

Chapter II. Connected Commercial Lighting Market Trend

•       2021-2026 Global Connected Lighting Market Scale- by Application

•       2021-2026 Global Connected Commercial Lighting Market Scale- by Region

•       Development Status of Connected Lighting Market

•       Connected Commercial Lighting Application Scenarios Demand Analysis

•       Connected Commercial Lighting Product Specifications Analysis

 

Chapter III. Lighting Market Regulations and Standards

•       Effects of Policies and Regulations on the General Lighting Market

•       Light Quality- CRI vs. R9

•       Europe- LUX vs. UGR

•       Europe- ErP New Energy Label

•       Europe- EU Green Deal

•       North America- DLC for General Lighting

•       North America- DLC for Horticultural Lighting

•       China- Low Blue Light (RG0)

•       Policies- Other Regions

 

Chapter IV. Horticultural Lighting and LED Market Trend

•       2021-2026 Global LED Horticultural Lighting Market Scale- LED Luminaries

•       2021-2026 Global LED Horticultural Lighting Market Scale- by Application

•       2021-2026 Global LED Horticultural Lighting Market Scale- by Region

•       Analysis on Regional Market of LED Horticultural Lighting- Americas

•       US Current Situation of Plant Factory and Development Trend Analysis

•       Analysis on Regional Market of LED Horticultural Lighting- EMEA

•       Major Vertical Farms List in Europe

•       Analysis on Regional Market of LED Horticultural Lighting- APAC

•       Large Plant Factories with Artificial Lighting (PFALs) in China

•       Artificial Light Sources for Horticultural Lighting Analysis

•       Main Luminaire Categories of LED Horticultural Lighting Analysis

•       LED Horticultural Lighting Products Specification and Price Analysis – Greenhouse

•       LED Horticultural Lighting Products Specification and Price Analysis – Vertical Farming

•       Horticulture Lighting LED Market Requirements

•       Horticultural Lighting LEDs Specification Requirements- by Applications

•       List of Major Horticultural Lighting Manufacturers

•       Driving Forces for Global LED Horticultural Lighting Market

•       Distribution of Main Horticultural Lighting Markets

•       Case Study of Plant Cultivation- Cannabis

•       Case Study of Plant Cultivation- Strawberry

•       2021-2026 Agricultural Lighting Market Scale- LED Package

•       Mainstream Horticultural Lighting LED Product Specifications

 

Chapter V. Lighting Player Revenue Ranking and Strategies

•       List of Global Typical Lighting Enterprises

•       2019-2020 Top 20 Lighting Player Revenue Ranking：Total Lighting

•       2019-2020 Top 20 Lighting Player Revenue Ranking：LED Lighting

•       2021(E) Top 20 Lighting Player Revenue Ranking：LED Lighting

•       Signify Revenue and Product Performance

•       Signify 2020-2021 Regional Market Revenue Analysis

•       Signify 2021-2022 Lighting Product Develop Strategy- Consumer Lighting Products

•       Zumtobel Revenue and Product Performance

•       Zumtobel 2020-2021 Regional Market Revenue Analysis

•       Fagerhult Revenue and Product Performance

•       Glamox Group Revenue and Product Performance

•       Acuity Brands Revenue and Product Performance

•       Acuity Brands 2021-2022 Lighting Product Develop Strategy

•       Acuity Brands 2021-2022 Market Operations Strategy

•       Hubbell Revenue and Product Performance

•       GE Current Revenue and Product Performance

•       Panasonic Revenue and Product Performance

•       Endo Lighting Revenue and Product Performance

•       Endo Lighting 2020-2021 Regional Revenue Analysis

•       Endo Lighting 2021-2022 Product Development Strategies

•       IWASAKI Revenue and Product Performance

•       2020-2021(E) Top 10 China’s Lighting Player- Lighting Revenue Ranking

•       2020-2021(E) Top 10 China’s Lighting Player- LED Lighting Revenue Ranking

•       MLS/LEDVANCE Revenue and Product Performance

•       Opple Lighting Revenue and Product Performance

•       NVC Lighting Revenue and Product Performance

•       Yankon Lighting Revenue and Product Performance

 

Chapter VI. Lighting Product Specification and Requirements

•       Filament Light Specification Overview By Regions

•       Filament Light Market Price Overview by Regions

•       Filament Light Market- LED Specification Requirements

•       Filament LED Market Trend

•       Streetlight Specification Overview By Regions

•       Panel Light Specification Overview By Regions

•       Panel Light Market- LED Specification Requirements

•       Panel Light Market Development Trend

•       Troffer Light Specification Overview By Regions

•       Troffer Light Market- LED Specification Requirements

•       High / Low Bay Specification Overview By Regions

•       High / Low Bay Market- LED Specification Requirements

•       Explosion-proof Light Specification Overview By Regions

•       Explosion-proof Light Market- LED Specification Requirements

 

Chapter VII. Lighting LED Market Scale

•       2021-2026 Lighting LED Market Scale- by Application

•       2021-2026 Lighting LED Market Scale- by Package

•       2021-2022 Lighting LED Market Scale- by Power