The LED tube market is estimated to reach a valuation of USD 6,712.1 Million in 2022, registering growth at an impressive CAGR of 10.4% from 2022 to 2032. The share of the LED tube market in the tube light market is 21% to 26%. Further, sales in the LED tube market are projected to reach USD 18,062.8 Million by 2032.
LEDs are increasing adoption in educational institutes, theaters, hospitals, metro and railways stations, government offices, airports, stadiums, multinational companies, lighting up historical buildings and monuments, malls, performances and events, and various others. This can be attributed to the benefits such as environment-friendly nature, flexibility & durability, long life span, and high energy efficiency.
In addition, the demand is anticipated to witness a boost owing to the rising focus on smart city projects across the globe. The smart cities project focuses on energy efficiency and conservation of the environment resulting in a better future. This help in increasing awareness about the latest technologies and designs, which in turn is anticipated to create potential opportunities for the market participants operating in this market.
Construction businesses are increasingly using efficient lighting solutions, such as LED tubes in their business, to enhance energy efficiency and minimize CO2 emissions. Governments throughout the globe are focusing on the implementation of specified lighting product standards and banning the use of incandescent lighting products, which is driving the LED light bar market.
On the back of these favorable government initiatives governing the construction of innovative infrastructure, structures, and installations in many nations, contractors are leveraging the use of led lights in their construction. This is significantly aiding the growth of the LED tubes market in the construction industry.
Regionally, South Asia and North America are expected to witness steady growth over the upcoming decade. The growing expansion of the residential sector and construction industry across India and the USA will drive the demand in the market. Light-emitting diode (LED) tube is one of the most energy-efficient lightings. Due to their cost-effectiveness, demand for these LED tube lights is expected to surge rapidly over the forecast period.
As these lights can work better with control systems than fluorescent lights, the adoption of LED tubes is expected to surge in metro cities, especially across emerging economies. LED tube lights are cost-effective, durable, and eco-friendly, hence, key companies are amplifying their production over the upcoming decade.
| Attributes | Key Insights |
|---|---|
| Estimated LED Tube Market Size 2022 | USD 6,712.1 Million |
| Projected Market Value (2032) | USD 18,062.8 Million |
| Value CAGR (2022 to 2032) | 10.4% |
| Top Players Share in 2021 | 17% to 23% |
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Light-emitting diode (LED) tube lighting has evolved into the finest energy-efficient type of tube lighting. With superior energy conservation function and greater durability, led lights are dramatically changing fluorescent tube lights, often used in commercial and residential structures. LED tube lights, unlike fluorescent lights, function reliably with control systems.
Moreover, the improvement in the design of creative infrastructure in residential and public locations for decorating has created a greater market for LED tubes all over the world. The prevalence of these light tubes in theme-based restaurants, events and performances, and cafes are propelling the LED tube industry worldwide. On the back of these factors, the market is estimated to grow at a 10.40% CAGR during the forecast period.
Many factors are driving the adoption of LED tubes in the USA, including the growing demand for energy-efficient lighting systems, the decline in LED prices, and strict government regulations. As a relatively recent source of illumination, LEDs have seen rapid technological and economic development in the country, attracting investments.
The USA is one of the leading innovators, adopters, and investors in the global LED market. As LED tube lights become increasingly available in domestic products, the number is growing significantly. Local manufacturers, such as Acuity Brands, are key innovators both internationally and domestically.
Cree's new LED product, Cadiant, has brought new developments to the LED market. According to Cree, LED-based lamps in the United States no longer have a cost premium. In light of the inherent energy savings and long lifetime of LEDs, many consumers may continue using them over the forecast period, which is expected to increase the market growth significantly.
A growing trend in smart homes has led to an increased demand for LED tube systems that can be controlled remotely and are connected to other electronic devices. In addition to making connected lighting more accessible at the regional level, regional market vendors have also been bringing innovation globally.
A new generation of LED flat panels, L-Grid Edge Xtreme XL Select, with a selectable CCT and wattage option, has been launched by USA LED Ltd in July 2021. It is designed to deliver superior visual comfort to retail stores and offices while accelerating installation time.
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As power shortages and outages continue to increase across Japan, LED tubes have become increasingly popular. The growing demand for energy-efficient light bulbs is a major driving force behind the Japan LED tube market.
Furthermore, the Japanese government has begun the phase-out of incandescent light bulbs, which has accelerated the demand for LED tubes. The government also aimed to phase out fluorescent light tubes in 2020 as they were considered inefficient. Combined with a gradual shift toward sustainable products, this has stimulated the demand for LED tubes in Japan, creating a positive outlook for LED products. The selling prices of LED in Japan have also declined significantly, another significant factor contributing to the growth of the industry.
Other factors contributing to the market growth include infrastructure development and smart city projects across Japan. Due to these factors, the market is expected to grow moderately during the forecast period.
Incentives and rebates on LED tube lighting and the ban on less-efficient lighting sources are expected to drive the market significantly due to stringent government regulations. As well as regulating the safety and performance of indoor commercial lighting, the region also has several standards governing garage illumination, road illumination, and parking illumination.
As a result of the growth of the regional automotive and information technology industries, the European commercial & industrial sector is flourishing as well. Furthermore, increasing awareness about energy conservation is boosting the Europe LED tube market. As the need for commercial spaces is on the rise, the construction industry has also witnessed significant growth over the past few years from the commercial and industrial sectors.
Stringent regulations on the import of lighting products are benefiting European LED tube manufacturers. Due to rising trade tensions between the USA and China, European companies have benefited from the American market's demand for European LED tubes. There are several prominent players in the market, including Signify Holdings, Acuity Brands Lighting Inc., OSRAM GmbH, Eaton, and LEDVANCE GmbH. Increasing market share requires market leaders to expand their capabilities and venture into new areas like horticultural lighting and U.V. lighting.
LED tube light solutions based on Li-Fi and sensor technology are disrupting the industry with new entrants. LED light companies use mergers and acquisitions to expand their product portfolios, grow geographically, and gain market share.
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A rapid decline in LED tube prices in Korea demonstrates the increasing adoption of LED tubes in residential applications. Taking advantage of successive technological advances, LED tube production costs have been significantly reduced in Korea.
LED tube in Korea is expected to see promising growth with consistent growth in residential construction activities. In addition to the implementation of government regulations and incentives for using energy-efficient lights, the residential segment is expected to grow rapidly.
Due to their energy efficiency and long life, LED solutions are quickly replacing conventional light sources in major markets. In addition, increasing consumer awareness about the long-term cost benefits is motivating Korean customers to switch to LED tube lights instead of conventional lighting.
Social and Economic Transformation in the Country to Boost the Sales of LED Tubes
As per FMI, India is considered to be one of the fastest-growing markets for LED tubes and is predicted to hold a significant share of the South Asia LED tubes market. The market in India is anticipated to rise at a CAGR of 22.8% during the forecast period.
Rapid economic and social developments in the country are contributing to increased urbanization. As a result, there is a growing need for energy-efficient tubes in India. Meanwhile, the number of nuclear families fuels the use of featured LED tubes, boosting India's LED tube market.
Favorable Government Measures in Russia to Aid the Growth of the LED Tube Market
The Russian government has implemented significant initiatives to improve the energy efficiency of the lighting industry. This includes laws mandating a certain percentage of LED products in national or provincial construction projects.
Furthermore, the Russian government banned incandescent bulbs, hastening the adoption of LED light bars. Other factors driving the LED light bar business in the country include strong demand in the commercial sector, significant international athletic events, and big infrastructure projects.
China LED Tube Market to Benefit from Rising Construction Activities in the Country
China is one of the most lucrative East Asia LED tube markets and is expected to account for mammoth's share in the market. The LED tube market in China is anticipated to rise due to rising development in industry and urbanization. Also, the transitioning preference of customers towards eco-friendlier products is fueling the demand in the country.
Furthermore, China's large population has increased government initiatives such as airports, motorways, and renewable energy projects. As diverse construction equipment, techniques, and vehicles are integrated with LED tubes, the rising projects will likely boost demand for LED tubes in the country.
LED T8 has High Demand and is Mostly Preferred in the LED Tube Market
Based on the product type, the LED T8 holds a considerable share in the overall sales of the LED tubes market. A T8 LED tube consumes only 17 watts and emits 2200 lumens. T8 LED light bulbs have a 50,000-hour lifetime rating, more than three times the 15,000-hour typical lifespan of fluorescent lights. Also, consider the warranty length; LED equivalents are for 5 years from the date of purchase.
Commercial Sector to Generate Maximum Revenue in the LED Tube Market
In terms of end-user, commercial use is expected to hold a significant share during the forecast tenure. The commercial segment consists of cyber hubs, malls, clubs, restaurants, and other places. Interior lighting fixtures play an important role due to the extensive use of lights. The LED tubes feature an ongoing ability that allows commercial places to leverage the long time use of the lights. Hence there is a high demand for LED tubes from the commercial sector.
Specialty Stores Are Anticipated to Drive the Sales in LED Tube Market
Regarding sales channels, specialist stores are expected to hold a significant share of the LED tube market, which is anticipated to grow steadily during the forecast tenure. Specialist stores offer a wide range of selections of LED tubes. They also provide unique light solutions and suggestions for the area space based on consumer preference and fixtures.
Moreover, specialty store experts help to identify budget-friendly products. Meanwhile, in upcoming years the online retailers market is also anticipated to rise rapidly and will support the growth of the LED tube market.
To enhance the worldwide footprint and grab a large revenue share, market players are focused on new product launches and mergers and acquisitions. To meet the growing demand for LED tubes throughout the world, producers are working on expanding product lines or incorporating innovative goods into their individual portfolios.
For instance:
Don't Stay in the Dark - Get Lit with LED Tube Options from OSRAM, Syska, And Toshiba
LED tube is a great way to make the commercial property more energy efficient. LED tubes are used in many different settings, including warehouses, manufacturing plants, offices, and retail stores. LED tubes are becoming a popular option for decorative lighting for homes too!
Osram Licht AG is a German manufacturer of electric lighting with headquarters in Munich and Premstätten (Austria). Osram sees itself as a high-tech photonics firm with a growing emphasis on sensor technologies, visualization, and light treatment. Customers are served by the corporation in the consumer, automotive, healthcare, and industrial technology sectors. Osram's operating firm is Osram GmbH.
The company has been dedicated to innovation, research, and development, leading to its recent product offering. An adjustable backlight that uses advanced sensor technology is one of their most innovative products. It gives the option of manually adjusting the light for brightness or automatic mode with different light levels, providing ultimate convenience for all customer needs.
In May 2022, OSRAM, a global pioneer in optical solutions, announced the launch of the OSLON Optimal family of LEDs for horticulture lighting, based on the newest ams OSRAM 1mm2 chip, which offers a fantastic mix of high efficiency, dependable performance, and great value.
Another prominent player, Syska, is an India-based manufacturer of LED lighting systems. LED bulbs, LED tube lights, power banks, dry irons, street lights, smartwatches, shavers, and other goods are available from the firm, allowing consumers to obtain new and energy-efficient lighting solutions.
This year, Syska is excited to introduce a new, improved line of LED tubes. The newest models offer high-quality lighting while using up to 80% less energy than traditional fluorescent bulbs.
In June 2021, Syska introduced two new LED lighting products in India: The T5 LED Batten-SSK-SQ2201 (PC-polycarbonate) and the Syska T5 LED Batten (AL-Aluminum)-SSK-SQ2201 (Rs 449 and Rs 549, respectively).
Moreover, Toshiba Corporation, abbreviated TOSHIBA, is a Japanese global conglomerate corporation based in Minato, Tokyo, Japan. Its wide range of goods and services includes power systems, industrial and social infrastructure, escalators and elevators, electronic components, semiconductors, hard disk drives (HDD), printers, batteries, and lights, as well as IT solutions like quantum cryptography, which was developed at Cambridge Research Laboratory and Toshiba Europe, situated in the United Kingdom, and is now being commercialized.
Toshiba Singapore LED Lighting Systems announced the launch of its E-CORE LED bulbs and reflector lamps in the area, which are long-lasting, high-quality, and energy-efficient. These items are generally intended for commercial and industrial applications, as well as residential and general use. Toshiba Lighting is devoted to producing lighting solutions that meet every demand by focusing on quality, lumen class, and design innovation.
| Attribute | Details |
|---|---|
| Estimated Market Size 2022 | USD 6,712.1 Million |
| Projected Market Value (2032) | USD 18,062.8 Million |
| Value CAGR (2022 to 2032) | 10.4% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania & Middle East and Africa (MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, France, Spain, Italy, Russia, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand |
| Key Segments Covered | Product Type, End Use, Sales Channel, and Region |
| Key Companies Profiled | Koninklijke Philips N.V.; Acuity Brands, Inc.; IDEAL INDUSTRIES, INC.; Eaton Corporation; SAVANT TECHNOLOGIES LLC.; OSRAM Gmbh; Seoul Semiconductor; Zumtobel Group; Bajaj Electricals; Wipro Ltd; NEPTUN lights inc; Havells; Syska; Foshan Electrical and Lighting Co., Ltd; LED Tube Lighting Pty. Ltd.; Panasonic Corporation; Opple Lighting Co., Ltd.; Crompton Greaves Consumer Electricals Limited.; HPL Electric & Power Ltd; Toshiba Ltd; Other (on request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global LED tube market reached a valuation of USD 6,166.9 Million in 2021.
The global LED tube market grew at 7.1% CAGR between 2017 and 2021.
The growing popularity of online stores, new product lines, rising LED tube adoption trends, easy accessibility on portals, and increasing awareness of environment-friendly effects, etc. are the key trends in the market.
Leading players operating in the global LED tube market are Koninklijke Philips N.V., Acuity Brands, Inc.., IDEAL INDUSTRIES, Inc., Eaton Corporation, SAVANT TECHNOLOGIES LLC., OSRAM Gmbh, Seoul Semiconductor, Bajaj Electricals, Wipro Ltd, and Toshiba Ltd. among others.
North America LED tube market is projected to grow at a 9.1% CAGR during the forecast period.
Leading players in the global LED tube market are estimated to account for approximately 17% to 23% of the total market share.
Europe LED tube market is anticipated to expand at 11.0% CAGR over the forecast period.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market - Pricing Analysis 6. Global Market Demand (in Value or in USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 7. Market Background 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product Type 8.1. LED T5 8.2. LED T8 8.3. LED T10 8.4. LED T12 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End Use 9.1. Residential 9.2. Commercial 9.3. Industrial 9.4. Architectural 9.5. Hospital 9.6. Education Institutes 9.7. Safety & Security 9.8. Other End-Use Application 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Sales Channel 10.1. Wholesalers/Distributors 10.2. Hypermarkets/Supermarkets 10.3. Specialist Stores 10.4. Exclusive Stores 10.5. Department Stores 10.6. Independent Electronic Stores 10.7. Online Retailers 10.8. Other Sales Channel 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia 11.6. Oceania 11.7. Middle East and Africa (MEA) 12. North America Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Latin America Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Europe Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. East Asia Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. South Asia Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Oceania Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. MEA Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Key Countries Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Koninklijke Philips N.V. 21.2. Acuity Brands, Inc. 21.3. IDEAL INDUSTRIES, INC. 21.4. Eaton Corporation 21.5. SAVANT TECHNOLOGIES LLC. 21.6. OSRAM Gmbh 21.7. Seoul Semiconductor 21.8. Zumtobel Group 21.9. Bajaj Electricals 21.10. Wipro Ltd 21.11. NEPTUN lights inc 21.12. Havells 21.13. Syska 21.14. Foshan Electrical and Lighting Co., Ltd 21.15. Lighting Pty. Ltd. 21.16. Panasonic Corporation 21.17. Opple Lighting Co., Ltd. 21.18. Crompton Greaves Consumer Electricals Limited 21.19. HPL Electric & Power Ltd 21.20. Toshiba Ltd. 21.21. Others (As per Request) 22. Assumptions and Acronyms Used 23. Research Methodology
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LED Tube Market
