LED Lighting Market Size Is Projected To Reach USD 168.87 Billion By 2030
San Francisco, 3 May 2024: The Report LED Lighting Market Size, Share & Trends Analysis Report By Product (Lamps, Luminaires), By Application, By Installation Type, By Sales Channel, By End-use, By Region, And Segment Forecasts, 2024 - 2030 The global LED lighting market size is expected to reach USD 168.87 billion by 2030, expanding at a CAGR of 11.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. Demand for LED lighting devices like A-lamps and T-lamps is anticipated to rise in response to rising customer demand for energy-efficient lighting solutions. Clients are attracted to LED lighting due to its benefits like lower heat emission, brighter light, energy savings, and low cost. The advantages of LED lighting over other types of lighting, coupled with the increasing demand from the building industry for both residential and commercial applications, are factors likely to propel the market growth. Additionally, automakers are concentrating on releas