Since they use only a fifth of the electricity required by a comparable incandescent bulb, light-emitting diodes (LEDs) are currently among the most energy-efficient light sources in the world. As more and more countries are getting close to phasing out conventional bulbs, LEDs are continuing their march to the top of the market. The penetration rate of LEDs into the global lighting market was rising between 2012 and 2019 and is expected to reach a penetration of some 76 percent in 2025.
The global LED market and leading manufacturers
The global market size of LED lighting is projected to rise as well, from some 70 million U.S. dollars in 2019 to almost 100 U.S. dollars in 2023. Not surprisingly, this market is attracting both old and new players in the lighting industry. The world’s leading light bulb-makers, such as Signify and Osram, and specialized LED manufacturers, such as Cree and Nichia, can all be found on the list of leading LED companies worldwide, generating revenue up to some 2 billion U.S. dollars from LED sales annually.
LED penetration rate of the global lighting market based on sales from 2012 to 2030
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Joint Research Centre. (January 15, 2021). LED penetration rate of the global lighting market based on sales from 2012 to 2030 [Graph]. In Statista. Retrieved December 06, 2024, from https://www.statista.com/statistics/246030/estimated-led-penetration-of-the-global-lighting-market/
Joint Research Centre. "LED penetration rate of the global lighting market based on sales from 2012 to 2030." Chart. January 15, 2021. Statista. Accessed December 06, 2024. https://www.statista.com/statistics/246030/estimated-led-penetration-of-the-global-lighting-market/
Joint Research Centre. (2021). LED penetration rate of the global lighting market based on sales from 2012 to 2030. Statista. Statista Inc.. Accessed: December 06, 2024. https://www.statista.com/statistics/246030/estimated-led-penetration-of-the-global-lighting-market/
Joint Research Centre. "Led Penetration Rate of The Global Lighting Market Based on Sales from 2012 to 2030." Statista, Statista Inc., 15 Jan 2021, https://www.statista.com/statistics/246030/estimated-led-penetration-of-the-global-lighting-market/
Joint Research Centre, LED penetration rate of the global lighting market based on sales from 2012 to 2030 Statista, https://www.statista.com/statistics/246030/estimated-led-penetration-of-the-global-lighting-market/ (last visited December 06, 2024)
LED penetration rate of the global lighting market based on sales from 2012 to 2030 [Graph], Joint Research Centre, January 15, 2021. [Online]. Available: https://www.statista.com/statistics/246030/estimated-led-penetration-of-the-global-lighting-market/