TrendForce: 2025 Global LED Lighting Market Trend Report Published

According to the analysis of TrendForce's latest report "2025 Global LED Lighting Market Trend - Data Database and Vendor Strategy", in 2024, the led general lighting market was affected by the sluggish demand in the three major markets in Europe, the United States and China, and the market output value showed negative growth, and the revenue of the industry's head lighting companies declined as a whole. However, the led intelligent lighting and niche led plant lighting markets have shown a reverse trend of growth.

Looking forward to 2025, the led general lighting market is mainly driven by the demand for the replacement of LEDs by the renovation and transformation of the stock market, as well as the demand for led high light quality, healthy and comfortable lighting and intelligent lighting products, which will drive the return of positive growth in output value. led plant lighting is expected to usher in the next growth stage with the return of vertical farms.

General Lighting Market

In 2024, the Federal Reserve will continue to maintain high interest rates, the Chinese market will experience deflation, the European economy will continue to be weak due to geopolitical factors, and Japan will be affected by the depreciation of the yen, and the market size measured in US dollars will also shrink. The three major markets of the United States, Europe and China, which used to be the main source of lighting market demand, will generally face certain pressures in 2024, which will affect the overall LED lighting output value. However, due to the improvement in market demand in 4Q24 and the accelerated penetration of LED, the decline in market output value has narrowed slightly. In 2024, the LED lighting output value fell by 4.2% to US$56.058 billion.

Looking forward to 2025, it is expected that the global economic situation will improve slightly, and the construction industry closely related to the LED lighting industry will show signs of mild recovery. New installations and renovations, as well as public infrastructure projects, including the slow improvement of municipal sports fields, will bring positive contributions to the LED lighting industry, especially the demand for renovation and replacement of LEDs in the existing market and the increased demand for LED high-light quality, healthy and comfortable lighting and smart lighting products.

However, with the adjustment of the global supply chain layout, global production capacity is still expanding, competition is expected to further intensify, and some regions may include LED lighting in the scope of trade policy adjustments in 2025, and relevant measures may suppress LED lighting market demand. Based on comprehensive analysis, TrendForce estimates that the global LED lighting market will resume positive growth in 2025 to US$56.626 billion.
From the perspective of LED lighting products, TrendForce believes that with the increase in investment in infrastructure, municipal sports, entertainment fields and the number of electric vehicle charging installations, there will be opportunities to reconfigure outdoor lighting. Therefore, it is expected to continue to drive the growth of outdoor lighting products including LED street lights, LED floodlights (Floodlight) and LED parking lot lights.

In the mid- to long-term outlook, it is expected that after 2026, the residential and non-residential construction markets will include market segments such as healthcare, new manufacturing and infrastructure. Driven by activities such as sustainable development including carbon reduction, it will also be accompanied by people’s pursuit of a healthy and comfortable light environment, and LE The upgrade of D products to intelligent control systems is expected to drive the LED lighting industry to achieve substantial growth in 2026. It should be noted that changes in the international trade environment may have a certain impact on market demand. Therefore, TrendForce remains cautiously optimistic about the future market. It is estimated that the market size will reach US$63.903 billion in 2029, with a compound annual growth rate of 2.7% from 2024 to 2029.

Intelligent lighting market

In 2024, in response to energy-saving market demand, there will be an increase in demand for LED lighting products that can achieve dimming and color matching and be equipped with intelligent control systems. The latest data from TrendForce shows that the global smart lighting market will grow by 17.6% in 2024.

In terms of application, it mainly benefits from the falling cost of smart lighting products and the increasing demand for energy saving in the professional lighting market (including commercial, outdoor and industrial), driving the growth of the IoT lighting market, especially in the outdoor and industrial lighting fields. Looking forward to 2025, it is expected that consumer market demand will improve and the smart home lighting market will rebound. Smart home lighting products include bulbs, filament lamps, ceiling lamps, etc. In addition, spotlights, downlights and light strip products are gradually penetrating into the smart home lighting field and growing rapidly.

Plant lighting market

The latest data from TrendForce shows that the global LED plant lighting market will reach US$1.315 billion in 2024, a year-on-year growth of 6.6%. According to TrendFore analysis and research, this round of recovery is not a simple downstream replenishment demand, but a real demand recovery with certain sustainability characteristics.

Looking forward to 2025, it is expected to come from a new round of lighting replacement. It is expected that higher photosynthetic photon flux (PPF) and photosynthetic photon flux efficiency (PPE) and centralized replacement of dimmable multi-channel products will stimulate demand growth. In addition, LEDs will continue to penetrate to replace traditional high-energy-consuming products. Regions such as Asia, the Middle East, North America, and Europe are investing heavily in vertical farms again, and the cultivated species are diverse and moving towards high-economic crops. Coupled with the investment of research institutions, it is expected to drive the LED plant lighting market to show rapid growth.

Lighting manufacturer strategies

According to TrendForce, the global lighting market demand will still be sluggish in 2024, especially affected by the new installation market. Except for a few manufacturers that have achieved revenue growth due to their own operating strategies, most other manufacturers have insufficient revenue momentum and are still experiencing varying degrees of decline. Among them, European and American brand companies are deeply affected by project stagnation or delay, and the revenue decline has further expanded; Chinese OEM manufacturers are facing fierce competition, and both shipments and prices have declined. The revenue of the top 20 lighting manufacturers is expected to be US$24.134 billion, a year-on-year decline of 4.7%, and has continued to decline. Despite this, the ranking of the top five lighting manufacturers has not changed, followed by Signify, Acuity Brands, Panasonic, LEDVANCE / MLS Lighting and Zumtobel. The industry structure is stable.

TrendForce analysis believes that, overall, the lighting market is a mature market, highly fragmented and highly competitive, and the scale effect is particularly important at this time. At the same time, segmented lighting markets with relatively high barriers such as plant lighting, marine lighting and medical lighting are key application areas for future enterprise competition and penetration. For example, Acuity Brands, the leading lighting manufacturer in the North American market, is actively participating in the gas station lighting market that it has not entered before, hoping to gain more market share. It can be seen that resources are further concentrated in large manufacturers, and in the future the lighting market will have a big player, Evergrande. In addition, digital transformation is still the development direction that enterprises are constantly pursuing. LED lighting + intelligent control systems will be widely rolled out to the market in the future, opening up opportunities for growth in secondary replacement demand. (Text: TrendForce Consulting)

TrendForce 2025 Global LED Lighting Market Trends - Database and Manufacturer Strategies

Part1: Database and Manufacturer Strategies
Publication Time: February 15, 2025; August 15, 2025
Format: PDF and Excel
Language: Traditional Chinese / English

Part2: LED Lighting Market Dynamics Monthly Report
Publication Time: Every 20 Japanese
Format: PDF
Language: Traditional Chinese / English

[EXCEL] Database and manufacturer strategy

Part 1 Introduction

1.1 Market research methods NEW
1.2 GDP of major economies NEW
1.3 Exchange rate conversion NEW

Part 2 General Lighting Market Analysis (2025-2029)

2.1 LED general lighting market size estimate - production value & shipments & price - product category
2.2 LED general lighting market size estimate - production value - product category - light source type & lamp type
2.3 LED general lighting market size estimate - production value - region
2.4 LED general lighting market size estimate - production value & shipments - product category & region
2.5 LED general lighting market size estimate - production value - application category
2.6 LED general lighting market size estimate - stock penetration rate
2.7 Lighting-level packaging market size estimate - production value & shipments - application category
2.8 Lighting-level packaging market size estimate - production value & shipments - power category
2.9 Lighting-level packaging market size - production value & shipments - Packaging Type
2.10 Lighting Level Packaging Market Scale- Output Value - Color Temperature NEW
2.11 Lighting Level Packaging Market Scale - Output Value - Color Rendering NEW
2.12 Lighting LED Package Product Price

Part 3 Analysis of Smart Lighting Market Scale (2025-2029)

3.1 LED smart lighting market size analysis - production value - application NEW
3.2 LED smart lighting market size analysis - production value - region NEW

Part 4 Agricultural lighting market size analysis (2025-2029)

4.1 LED plant lighting market size analysis - production value - application
4.2 LED plant lighting market size analysis - production value - region
4.3 Agricultural lighting LED market size analysis - output value & shipment volume - power category NEW
4.4 Agricultural lighting LED market size analysis - output value & shipment volume - chip color category NEW
4.5 Agricultural lighting LED price
4.6 Plant lighting LED manufacturer revenue ranking (2023-2024) NEW

Part 5 Lighting manufacturer revenue ranking and revenue estimate

5.1 Revenue ranking of the top 20 lighting manufacturers - total lighting and LED lighting (2023-2024)
5.2 Revenue ranking of the top 20 lighting manufacturers - application (2023-2024) NEW
5.3 Revenue ranking of the top 10 lighting LED manufacturers (2023-2024) NEW

Part 6 LED Lighting product specification requirements and price trends

6.1 Regional market development trends of LED filament lamps
6.2 Regional market development trends of LED street lamps
6.3 Regional market development trends of LED flat lamps
6.4 Regional market development trends of LED trough lamps
6.5 Regional market development trends of LED ceiling lights
6.6 Regional market development trends of LED explosion-proof lamps
6.7 Regional market development trends of LED plant growth lamps NEW

【PDF】Database and Vendor Strategies

Revenue and Development Strategies of Lighting Manufacturers
Analysis of Manufacturer Revenue and Product Dynamics
Signify
Zumtobel
Fagerhult
Acuity Brands
Current Lighting Solutions
Panasonic
Analysis of Revenue and Product Dynamics of Chinese Manufacturers
MLS / LEDVANCE
Op Lighting
NVC Lighting

2. Monthly Report on LED Lighting Market Dynamics

Foreword
TrendForce Viewpoint
Lighting LED Package Manufacturer Market Dynamics
LED Lighting Manufacturer Market Dynamics
Lighting Policies and Regulations
Niche Lighting Market Dynamics