2Q 2023

Analyst Insight: Lighting Supply Chains

The lighting market is expanding globally due to national and corporate requirements for decarbonization and reduced energy consumption. The supply chain for lighting technologies remains robust after recovering from pandemic supply shocks. Asia Pacific leads the market in revenue, followed by North America and then Europe. LEDs continue to be the superior technological and value-driven choice for consumers; however, their concentrated production in the Asia Pacific region exposes these products to broader semiconductor supply concerns. In response to the pandemic and potential geopolitical conflicts, manufacturers have been exploring “reshoring,” or domestically siting manufacturing, closer to target markets. In the US, the CHIPS Act has provided $52.7 billion in incentives for semiconductor manufacturers to engage in domestic manufacturing capacity additions, while the EU has just approved a planned $47 billion for similar production-boosting efforts. The effects of increased supply and reduced prices may propagate across the lighting market by the end of the decade.

This Analyst Insight accompanies the first edition of the Lighting Forecast Database, published in 1Q 2023. The Database is indicative of four end-use segments and five lighting technologies across five principal geographic regions. It reports annual revenue and shipment forecasts of lamps and luminaires by technology, end use, building/area type, construction type, region, and year, representing the most comprehensive overview of the lighting market that Guidehouse Insights has published to date. Its purpose is to provide the best up-to-date forecast of lighting revenue and shipments available globally by highlighting key trends and dynamics across regional markets. The Database is updated frequently and published twice yearly.

Pages 15
Tables | Charts | Figures 6
  • How might supply chains affect the lighting market and LED technologies over the next decade?
  • How is annual lighting revenue expected to change for each global region over the next decade?
  • Which lighting end uses have the greatest potential for growth by 2032?
  • How will the revenue generated by different lighting technologies change over the next 10 years?
  • To what extent are lighting retrofits, compared with installations in new construction, expected to drive product shipments over the next decade?
  • How will the market share of LEDs change by 2032?
  • Lighting manufacturers
  • Smart hardware and software vendors
  • Lighting distributors
  • Energy efficiency advocates
  • Lighting associations
  • Investor community



Executive Summary

Overview: Technology Supply Status

Market Inflection Trends

Market Drivers and Barriers

Regional Market Overview

A Deeper Dive into LED Technology

LEDs Are Exposed to Broader Microchip Concerns

Regional Market Overview by End Use


Abbreviations, Resources & Contact

  • Annual Lighting Revenue by Technology, World Markets: 2023-2032
  • Total Lighting Revenue by Region, World Markets: 2023
  • Total Lighting Revenue by Region and Technology, World Markets: 2023
  • Percentage of Total Regional Lighting Shipments by End Use, World Markets: 2023-2032
  • Market Drivers and Barriers
  • Lighting Market Growth Potential, World Markets: 2023‐2032
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