2022 Global LED Lighting Market Analysis Report Published

According to TrendForce's latest report "2022 Global LED Lighting Market Analysis Report-2H22", according to TrendForce research, in the first half of 2022, the world will fall into high inflation, a downturn in economic prosperity, and conflicts between Russia and Ukraine. Rising energy costs, the downturn in the real estate cycle and recurring epidemics have seriously affected the demand for home and commercial lighting markets. However, the reopening of the economy in Europe and the United States and frequent commercial activities have stimulated a rebound in consumption. This, coupled with the demand for energy-saving renovation projects in Europe and Japan, has made up for the decline in the commercial lighting market. In addition, the good performance of economic activities in Southeast Asia has offset the severe decline in market demand in China.

In the second half of 2022, with the successive introduction of stimulus policies, market demand will improve in the fourth quarter. Comprehensive analysis shows that in the context of high inflation, LED lighting product prices are firm, and TrendForce has lowered its global LED lighting market size in 2022 to US$64.96 billion (+0.5% YoY). 
Looking to the future, the future lighting industry will pay more attention to the light quality of products (such as high luminous efficiency, high color rendering, R9 value and color tolerance), human-related healthy lighting and intelligence. Therefore, TrendForce estimates that the global LED lighting market will be US$78.36 billion in 2026, with a compound growth rate of 3.9% from 2021 to 2026 

LED smart street light market

Although LED street light construction projects have slowed down in the first half of 2022 due to the epidemic and the Russia-Ukraine conflict, in the second half of the year, with the release of favorable policies, there will be an opportunity to grow by 7% to US$840 million for the whole year despite the low base period. In the future development of smart city construction, it is expected that a new round of installation will begin in 2023. Achieving the most important functions and needs through smart control is a key factor in promoting the growth of smart street lights. With the increase in LED smart penetration rate, the compound annual growth rate from 2021 to 2026 is expected to reach 15.5%.

In terms of communication protocols, according to the latest data from TrendForce, PLC adoption proportion will account for approximately 76.6% in 2021, followed by ZigBee, accounting for approximately 13.3%. NB-IoT has just reached maturity in application and is growing rapidly. Due to its wide coverage through network infrastructure, low power consumption and low construction costs, it has a development trend to replace ZigBee. It currently accounts for 7.0% of the smart street light control market. In addition, the communication technology of 4G transmission The proportion of technology used in smart street lights is also gradually increasing.

LED plant lighting market

In the past two years, the LED plant lighting market has experienced rapid growth driven by the North American cannabis market. However, starting from the second half of 2021, market demand began to weaken due to supply chain disruptions and North America's crackdown on illegal cannabis cultivation. In 2022, affected by the slowdown in the legalization of cannabis in North America and the sharp decline in the market in China, the growth rate of the plant lighting market continues to slow down. However, in response to the increase in replacement demand for LED equipment in greenhouses in Europe, and under the stable price of lighting products, the market size is estimated to be US$1.79 billion, with an annual growth rate of 6.6%.

Looking to the future, in the context of food security and global climate change, smart agriculture is increasingly put on the agenda of governments. Coupled with the continued advancement of cannabis legalization, the LED plant lighting market demand will maintain a steady growth trend in the future. TrendForce estimates that the market size will reach US$2.89 billion in 2026, with a compound growth rate of 11.5% from 2021 to 2026.

Revenue of lighting manufacturers

According to the latest statistical analysis by TrendForce, the total lighting revenue of the top 30 lighting manufacturers is expected to grow by an average of 1%-3% in 2022. It is worth noting that the increase in mergers and acquisitions by leading companies, coupled with the optimization of product portfolios, the total lighting revenue of the top 10 lighting manufacturers is expected to grow by more than 3%. In 2022, the conflict between Russia and Ukraine will lead to rising energy costs, and the demand for LED energy-saving is increasing, which will accelerate the replacement of traditional lighting products. It is estimated that the average growth of LED lighting revenue of the top 20 lighting manufacturers will be 2%-5%.

Many lighting manufacturers are gradually providing customers with a healthier, smarter and more convenient lighting experience with professional solutions of "lighting products" + "digital systems". At the same time, focusing on niche application markets with high gross profit margins will be the continuous driving force for the revenue growth of lighting manufacturers. (Text: TrendForce Analyst Liu Lingling)

TrendForce 2022 Global LED Lighting Market Analysis-2H22

Publication date: February 11, 2022; August 8, 2022
Language: Traditional Chinese / English
Format: PDF and EXCEL
Number of pages: 100-130 (each time)

Chapter 1 Global Lighting Market Trends

TrendForce LED Lighting Market Scale - Research Methodology
TrendForce LED Lighting Market Product Definition
TrendForce LED Lighting Market Product Definition Explanation - Light Source Type
TrendForce LED Lighting Market Product Definition Explanation - Lamps
Smart lighting drives LED lighting industry second growth curve
2021-2026 Global LED lighting market size estimate - product category
2021-2026 Global LED lighting market size estimate - amount vs. region
2021-2022 Global LED lighting market size estimate - product type
2021-2026 Global LED lighting market size - application type
2021 Global LED lighting product market size - amount basis: region vs. product type
2022 Global LED lighting product market size - amount basis: region vs. Product Category
202 6 Global LED Lighting Product Market Scale - Amount Basis: Region vs. Product

Chapter 2 LED Smart Street Light Market Development Trend

2021-2026 Global Smart Street Light Market Scale
2021-2022 Global Smart Street Light Market Scale - Technology
Smart Street Light Regional Market Analysis
2009-2020 China Road Lighting Lamp Stock Market
Smart Street Light Regional Market Analysis
2018-2022 China Smart Street Light Project Situation
China Smart Street Light Supply Chain Analysis
Situation of smart street light projects in North America
Current status and development opportunities of smart street lights in Europe
Development process of street lights
Definition of smart street lights
Smart street light functions
Main types of smart street lights
Smart street light market driving force: smart city construction
Smart street light market driving force: policy support of various countries
Smart street light industry chain and major manufacturers analysis
Smart street light project construction cost and price analysis
Smart Street Light Market Opportunities and Challenges

Chapter 3 Analysis of Lighting Market Policies and Regulations

Analysis of the impact of policies and regulations on the general lighting market
Light quality - CRI vs. R9
Europe - Illumination (LUX) vs. Glare Index Requirements (UGR)
Europe - ErP New Energy Label
Europe - EU Green Deal
North America - DLC requirements for general lighting
North America - DLC requirements for plant lighting
China - Low Blue Light (RG0)
Policy - Other regions

Chapter 4 LED plant lighting supply and demand market trends

4.1 LED plant lighting demand market

2021-2026 LED plant lighting market size - LED lamps
2021-2026 LED plant lighting market size - amount vs. application
2021-2022 LED plant lighting market size - amount vs. Regional
Progress of Marijuana Legalization in North America

4.2 Basic overview of LED plant lighting

Main driving factors for the growth of LED plant lighting market
Distribution of crops in major plant lighting markets
Plant cultivation case analysis-cannabis
Plant cultivation case analysis-strawberry
Deep UV LED plant lighting solution analysis- 1
Deep UV LED plant lighting solution analysis- 2
Deep UV LED plant lighting solution analysis- 3
LED Technical requirements for plant lighting application scenarios
Analysis of main lamp types of LED plant lighting
LED plant lighting product specifications and price analysis-greenhouse
LED plant lighting product specifications and price analysis-vertical farm

4.3 LED plant lighting supply market

2021-2026 Agricultural Lighting LED Market Size - LED Packaging
2021-2026 Agricultural Lighting LED Market Size - Power Category
High-power LED market share gradually increases
Analysis of plant lighting LED specifications of major manufacturers
Productivity steadily improves year by year
Plant Lighting Supply Chain List

Chapter 5 Revenue and Product Trends of Lighting Manufacturers

List of global representative lighting manufacturers
2020-2021 Revenue ranking of the top 20 lighting manufacturers: Total lighting revenue
2020-2021 Revenue ranking of the top 20 lighting manufacturers: LED lighting revenue
2021-2022(E) Top 20 lighting manufacturers: Total lighting revenue estimate
2021-2022(E) Top 20 lighting manufacturers: LED lighting revenue estimates
Manufacturer revenue and product dynamics analysis
Signify
Zumtobel
Fagerhult
Glamox Group
Acuity Brands
GE Current
Hubbell
Panasonic
Endo Lighting
IWASAKI
2021-2022(E) Top 10 Chinese Lighting Manufacturers: Lighting and LED Lighting Revenue Estimation
Analysis of Revenue and Product Dynamics of Chinese Manufacturers
MLS/LEDVANCE
Op Lighting
NVC Lighting
Sunshine Lighting

Chapter 6 Lighting Product Specifications and Requirements

Regional market requirements for filament lamps - Overview of finished product specifications
Regional market requirements for filament lamps - LED specifications and prices
Regional market requirements for filament lamps - LED filament market development trends
Regional market requirements for street lamps - Overview of finished product specifications
Regional market requirements for flat panel lamps - Overview of finished product specifications
Regional market requirements for flat panel lamps - LED specification requirements
Regional market requirements for flat panel lamps - Finished product market development trends
Regional market requirements for trough lamps - Overview of finished product specifications
Regional market requirements for trough lamps - LED specification requirements
Regional market requirements for patio lamps - Overview of finished product specifications
Regional market requirements for patio lights - LED specification requirements
Regional market requirements for explosion-proof lamps - Overview of finished product specifications
Regional market requirements for explosion-proof lamps - LED specification requirements

Chapter 7 Lighting Level Packaging Market

2021-2026 Lighting Level Packaging Market Scale - Application Category
2021-2026 Lighting Level Packaging Market Scale - Packaging Category
2021-2022 Lighting Level Packaging Market Scale - Power Category

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