LED Lighting Market expanding at a CAGR of 10.5% from 2022 to 2030
LED Lighting Industry Overview The global LED lighting market size is anticipated to reach USD 132.96 billion by 2030, expanding at a CAGR of 10.5% from 2022 to 2030, according to a new study by Grand View Research Inc. Increasing consumer demand for energy-efficient lighting solutions is expected to increase demand for LED lighting products such as A-lamps and T-lamps. LED lighting offers advantages such as less heat emission, more bright light, energy-saving, and low cost which is attracting consumers. These mentioned benefits of LED lighting compared to other lighting solutions and high demand from the construction sector for residential & commercial applications are factors expected to drive market. LED Lighting Market Segmentation Grand View Research has segmented the global LED lighting market on the basis of product, application, end use, and region: Based on the Product Insights, the market is segmented into Lamps and Luminaires . The...