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Press Releases
Benefiting from HCL and Smart Lighting, LED Lighting Output Value to Reach US$11.1 Billion by 2026, Says TrendForce 

2022/04/07

LED

According to TrendForce’s “Global LED Industry Data Base and LED Player Movement Quarterly Update” report, demand for high-standard LED products in the lighting market will enter a growth stage. Generally speaking, the price of lighting LED products is stable. However, due to the recent rise in global raw material prices, the unit price of products looks to trend higher. Coupled with high demand for energy conservation from governments around the world, the output value of the lighting LED market in 2022 is forecast to have an opportunity to reach US$8.11 billion, or 9.2% growth YoY. In the next few years, the scale of the lighting LED market will continue growing due to the promotion of human centric lighting (HCL), smart lighting, and other factors and is expected to reach US$11.1 billion by 2026, with a compound annual growth rate (CAGR) of 8.4% from 2021 to 2026.

Press Releases
Increased Demand on Food Safety Projected to Propel Annual Horticultural Lighting LED Revenue for 2021 to US$399 Million, Says TrendForce

2021/09/08

LED

Thanks to favorable policies by governments worldwide as well as massive adoption of horticultural LED lighting products in the medical and recreational marijuana markets in North America, horticultural lighting LED revenue saw an explosive growth in 2020, reaching US$301 million, a 57% YoY increase, according to TrendForce’s 2021 Global LED Lighting Market Outlook - Light LED and LED Lighting Market Trend report. This growth is expected to maintain its momentum throughout 2021, during which the market is expected to reach US$399 million in revenue, a 33% YoY increase.

Press Releases
Price Hike of Lighting LED Products in 2Q21 Projected to Propel Lighting LED Market Revenue for 2021 to US$6.709 Billion, Says TrendForce

2021/05/25

LED

Product prices across the overall lighting LED market are expected to increase by about 0.3%-2.3% QoQ in 2Q21, according to TrendForce’s latest investigations. This price hike can primarily be attributed to the fact that overall demand in the LED lighting market has been rebounding since 1Q21 and remaining in an uptrend since 2Q21. Furthermore, the industry-wide shortage of LED components in the upstream supply chain, caused by the onset of the COVID-19 pandemic, has yet to be addressed, thereby compelling lighting product manufacturers to ramp up their procurement activities this year in order to avoid a component shortage, which they suffered last year. TrendForce hence expects this bullish trend in the LED supply chain to result in a US$6.709 billion yearly revenue for the lighting LED market in 2021, a 3.43% growth YoY.

Press Releases
Yearly Revenue of Horticultural LED Expected to Grow by Nearly 40% in 2020, While COVID-19 Pandemic Unexpectedly Propels Market Demand, Says TrendForce

2020/11/23

LED

Owing to the gradual legalization of marijuana cultivation and the pandemic-induced surge of recreational and medical marijuana markets in North America, horticultural LED has become one of the fastest-growing lighting markets in 2020, according to TrendForce’s latest investigations. Moreover, as the COVID-19 pandemic’s impact on the food supply chain starts to surface, capital expenditure (CAPEX) for indoor agricultural infrastructure has once again shown an upward momentum due to the rising demand for equipment replacement and procurement, resulting in a rapid growth in enterprise orders for horticultural LED. Global yearly horticultural LED revenue is expected to reach US $158 million in 2020, a 39.7% increase YoY.

Press Releases
Global LED Smart Street Light Revenue Projected to Exceed US$1 Billion by 2024, Says TrendForce

2020/08/11

LED

Downstream LED lighting demand is highly correlated with the state of the overall economy, according to TrendForce’s latest investigations. LED lighting manufacturers, such as Signify, Acuity Brands, Zumtobel, Leotek (a subsidiary of Lite-On Group), and Unilumin, have each released new outdoor smart lighting products and integrated smart lighting solutions, which are likely to raise the penetration rate of smart LED street lights. TrendForce predicts the global LED smart street light market (which includes only luminaires and single lighting control systems) to reach US$1.094 in total revenue, with a CAGR of 8.2% from 2019 to 2024.