According to the latest market research report "2022 Global LED Lighting Market Analysis (1H22)" by TrendForce, the lighting industry is paying more and more attention to the light quality of products (such as high color rendering, R9 value and color tolerance) and human health lighting, and As LED lighting products gradually move towards digital and intelligent dimming and color-adjusting lamps, the penetration rate of LED intelligence continues to increase. Under the new technology application and potential demand, the lighting market will grow again. TrendForce estimates that the global LED market will grow in 2022. The lighting market size reaches 72.10 billion US dollars (+11.7% YoY), and will grow steadily to 93.47 billion US dollars in 2026.
2022 LED Lighting Market Outlook
From the perspective of LED lighting product categories, the market demand for light source and lamp-type products will show growth in 2022, but in the long run, the market demand for LED light source-type products will slow down, mainly due to the decline in replacement demand and consumers' increasing preference for lamps and lanterns type product. The CAGR of light source type and lamp type products in 2020-2022 is 8.5% and 12.0%, respectively. From the perspective of the application market of LED lighting products, lighting products are equipped with various sensors and communication modules, and the penetration rate of intelligent lighting (Connected Lighting) has increased. In order to achieve the goal of "carbon neutrality" in the world, the demand for LED energy-saving renovation projects has increased, and the future commercial, home, outdoor and industrial lighting application markets will usher in new growth opportunities.