The output value of lighting LED this year is estimated at 8.11 billion US dollars

TrendForce, a research organization, said today that the lighting market is gradually recovering. Affected by the rising demand for energy saving from governments around the world and the rise in global raw material prices, it is estimated that the output value of the lighting LED market in 2022 will have the opportunity to reach 8.11 billion US dollars, with an annual growth rate of 8.11 billion US dollars 9.2%.

TrendForce launched the "Global LED Industry Database and Quarterly Update of LED Manufacturers" report, pointing out that, driven by factors such as healthy lighting and smart lighting, the lighting LED market size will continue to grow, and is expected to reach US$11.1 billion by 2026. The compound growth rate in 2026 is 8.4%.

TrendForce believes that in the next few years, with the promotion of human health lighting, smart lighting and other factors, the market size of lighting LED will continue to grow.

TrendForce said that despite the continued impact of the epidemic in 2022, with the popularization of vaccines and the recovery of economic activities, and the lighting market is a necessity for people's livelihood, there is a rigid demand, and the global carbon neutrality and energy saving needs are increasingly on the agenda. Large countries have adopted measures such as energy efficiency and low-carbon heating to achieve net zero emissions.

In addition, lighting is a major energy consumption item in buildings, accounting for 20% to 30% of total building energy consumption. Driven by the high demand for energy saving and the upgrading of policies and regulations, LED will further penetrate.