Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 51.87 Billion | USD 114.66 Billion | 8.4% | 2024 |
FrequentlyAsked Questions
The global energy efficient lighting market is expected to grow due to increasing government regulations promoting energy conservation, rising electricity costs, and growing consumer awareness of the environmental and economic benefits of LED and other energy-saving lighting solutions.
According to a study, the global energy efficient lighting market size was worth around USD 51.87 Billion in 2024 and is expected to reach USD 114.66 Billion by 2034.
The global energy efficient lighting market is expected to grow at a CAGR of 8.4% during the forecast period.
Asia-Pacific is expected to dominate the energy efficient lighting market over the forecast period.
Leading players in the global energy efficient lighting market include ABB (Switzerland), Eaton (Ireland), General Electric (US), Philips (Netherlands), Toshiba Corporation (Japan), Advanced Lighting Technologies Australia Inc. (Australia), Schneider Electric (France), NICHIA CORPORATION (Japan), Digital Lumens Inc (US), Bridgelux (US), among others.
The report explores crucial aspects of the energy efficient lighting market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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