Lighting Power Market size was valued at USD 110 Billion in 2024 and is projected to reach USD 150 Billion by 2033, exhibiting a CAGR of 4.5% from 2026 to 2033.
The global Lighting Power Market was valued at USD 4.65 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. This growth is primarily driven by increasing demand for energy-efficient lighting systems and advancements in LED technology. The surge in infrastructure development, especially in emerging economies, and government initiatives promoting smart city projects have further propelled market expansion. Additionally, heightened environmental awareness and regulatory mandates are pushing for the adoption of sustainable lighting solutions across residential, commercial, and industrial sectors. The integration of IoT with lighting systems is creating new avenues for intelligent power management, thereby amplifying the market’s growth trajectory.
Regionally, Asia-Pacific dominated the market in 2022, accounting for over 35% of the global revenue share, fueled by rapid urbanization, industrial growth, and widespread infrastructure development in countries such as China, India, and Southeast Asia. North America followed, contributing around 28% of the market, supported by advanced technological adoption and strict energy efficiency regulations. Europe held a 22% share, driven by sustainability policies and renovation projects across developed nations. Meanwhile, the Middle East & Africa and Latin America are emerging as significant markets with growing construction activities and government support for energy-efficient lighting systems. Key opportunities in the market include the rising demand for smart lighting solutions in commercial buildings, the expansion of electric vehicle infrastructure requiring integrated lighting, and increased investments in renewable energy-powered lighting systems in rural and remote areas.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Lighting Power Market
LED (Light Emitting Diode)
CFL (Compact Fluorescent Lamp)
Incandescent
Halogen
Smart Lighting Solutions
Residential
Commercial
Industrial
Outdoor/Public Lighting
Automotive Lighting
Households
Businesses
Government Entities
Transport Sector
Healthcare Facilities
Battery-powered Lighting
AC-powered Lighting
Solar-powered Lighting
Hybrid Systems
Embedded Lighting
Surface-mounted Lighting
Suspended Lighting
Track Lighting
Portable Lighting
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Lighting Power Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Lighting Power Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Lighting Power Market, By Type
6. Global Lighting Power Market, By Application
7. Global Lighting Power Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Lighting Power Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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