14 Biggest Lighting Companies in the World
In this article, we will discuss the 14 Biggest Lighting Companies in the World. You can skip our detailed industry analysis and go directly to the 5 Biggest Lighting Companies in the World.
Good lighting is an essential need in our daily lives. With the rise in population and advancement in technology, the use of lighting in activities such as photography and interior design has also become more important. As the world moves towards sustainability, energy-efficient and environmentally clean lighting is one of the main focuses of modern-day lighting companies. Just like every other industrial sector in the world, the lighting sector has also faced difficulties due to Covid-19. A huge disruption in the supply chain was felt because China is the source of a significant percentage of components used by the lighting industry. Since Covid-19 is believed to be originated in Wuhan city of China, it was the first country to undergo a complete lockdown prohibiting any further manufacturing of these components, which was a huge blow to the lighting sector. In 2019, the global lighting market size was estimated at $118.33 billion and is expected to reach $163.72 billion by 2027.
The rise in the adoption of solar power technology is expected to greatly boost the lighting market. According to a published report by the program initiated by World Bank "Lighting Global", the global off-grid market size of the solar sector is $1.75 billion. The solar power sector is important to the lighting industry because it will enable electricity access to people in remote areas where electricity is currently not available, creating demand for lighting products. With the world going towards sustainability, the lighting market of GCC (Gulf Co-operation Council) is also expected to emerge as a major market due to it
Even if we analyze the global lighting market region-wise, developing regions seem to be the most promising ground for the growth of the lighting sector, especially the Middle East, Asia Pacific, and Africa. The market in the Middle East can expect robust growth mainly due to the rising population, which drives huge investments in infrastructure and mega-events, ultimately increasing the demand for lighting systems. With the world moving towards sustainability, the countries in the Gulf Cooperation Council (GCC) are expected to be a major market in the near future for sustainable lighting products, with the council showing strong intent to reduce the carbon footprint.
Photo by Omar Tursi? on Unsplash
The lighting market is divided into several segments. These include LEDs, LFLs (LED flat lamps), CFLs (compact fluorescent lamps), HIDs (High-Intensity Discharge), incandescent, and halogens. The LED segment is expected to be the highest-growing segment due to several reasons, including its increasing applications and low maintenance cost. LEDs are much more efficient and environmentally friendly compared to other segments with far fewer carbon footprints. This environmentally driven edge has compelled several big manufacturers to shift to LEDs over the past decade. In 2020, the value of the global LED market stood at $76 billion. The market value is expected to grow to $160 billion by 2026, with a CAGR of over 13% in the coming years. A report by Statsita presented a breakdown of the global LED market based on its applications. In 2021, general lighting applications accounted for 33% of the worldwide revenue of the LED market, while the automotive sections accounted for 18%.
Our Methodology
We have picked the 14 biggest lighting companies in the world and have ranked them in order of their annual revenue.
14. Nichias Corporation (TYO:5393)
Annual revenue 2021: $408 Million
Nichias Corporation (TYO:5393) is a Japan-based company that was founded in 1956. Nichias Corporation (TYO:5393) is a chemical engineering and manufacturing company that deals in the production and distribution of phosphors (a solid material that emits light when exposed to radiations of UV or electron beam), LEDs, laser diodes, and other battery materials. Some of the company’s LED products include NS2W763F-HG, NS2W764F-HG, and NS2W765F-HG. Nichias Corporation (TYO:5393)'s sales in 2021 stood at $408 million.
In addition to Nichias Corporation (TYO:5393), General Electric Company (NYSE:GE), Panasonic Holdings Corporation (TYO:6752), and Samsung Electronics Co., Ltd. (KRX:005930) are included in our list of 14 biggest lighting companies in the world.
13. Cree Lighting
Annual revenue 2021: $526 million
Cree Lighting is a US-based manufacturer that specializes in manufacturing LED lighting. Since 2008, Cree Lighting has installed over 125+ million led lights. The portfolio of Cree Lighting contains 2,500+ patents, and it is among the leading companies in the LED sector. The company has several renowned brands under its portfolio, including CREE LIGHTING?, C-LITE?, and SAVR?. Some of the leading products of the company include C-Lite? DDA-SCCT Series, C-Lite? AL Series, C-Lite? DD Series, and C-Lite? BRQ-SCCT Series. The annual revenue of Cree Lighting in 2021 was $526 million.
12. Everlight Electronics Co., Ltd.
Annual revenue 2021: $897.84 million
Everlight Electronics Co., Ltd. is a Taiwanese company that manufactures LEDs. The company is the 5th largest LED package manufacturer in the world. It was founded in 1983 and is headquartered in the New Taipei City of Taiwan. The company offers lighting products in several categories, including high-power lighting, low-power lighting, horticulture lighting, and agriculture lighting. Everlight Electronics Co., Ltd.'s annual revenue in the year 2021 stood at $897.84 million.
11. Sanan Optoelectronics Co., Ltd (SHA:600703)
Annual revenue 2021: ￥12.42 billion
Sanan Optoelectronics Co., Ltd (SHA:600703) is a China-based company founded in 2000. The company specializes in research, development, manufacture, and sales of LED-based products and chips. The core segments in which Sanan Optoelectronics Co., Ltd (SHA:600703) operates in are LED chips, optical communications, integrated microwave circuits, and power electronics. The total annual revenue in 2021 of Sanan Optoelectronics Co., Ltd (SHA:600703) stood at ￥12.42 billion.
10. Acuity Brands, Inc. (NYSE:AYI)
Annual revenue 2021: $3.46 billion
Founded in 1892, Acuity Brands, Inc. (NYSE:AYI) is headquartered in Atlanta, Georgia but its operations run throughout North America, Europe, and Asia. Acuity Brands, Inc. (NYSE:AYI) is a lighting and building management firm that currently has 13,000 employees. In 2021, the revenue for the year 2021 of Acuity Brands, Inc. (NYSE:AYI) stood at $3.46 billion.
Wedgewood Partners made the following comment about Acuity Brands, Inc. (NYSE:AYI) in its Q3 2022 investor letter:
Acuity Brands, Inc. (NYSE:AYI) contributed to portfolio performance as the Company continued to generate strong revenue growth while protecting margins in the face of a particularly difficult inflationary environment. The Company's fiscal fourth quarter results (released in early October) reflected +12% revenue growth with over +15% adjusted operating margins that are near all-time highs from a year ago. Acuity is managing inflationary pressure by constantly re-engineering their lighting and control products while also enacting more than a half-dozen price increases over the past 2 years. The Company's backlog continues to build as commercial office, education and industrial facilities owners invest in much needed renovations. The secular move toward more energy-efficient commercial lighting solutions is a long-term driver for Acuity products. For example, California recently banned the sale of compact and linear fluorescent lamps. Although Acuity does not sell lightbulbs, it stands to benefit from future demand for luminaires and lighting controls for LED units that will inevitably replace these fixtures.
9. Osram Licht AG
Annual revenue 2020: $3.59 billion
Headquartered in Munich, Osram Licht AG is a German photonics company that provides sustainable lighting solutions that focuses on sensor technology and other light-based technologies. Some of the company's leading products include Chip LED 0402, Firefly 0402, Duris E 2835, and Duris E 5050 RGBW. Osram Licht AG’s business is divided into three primary segments: Opto Semiconductors, Automotive, and Digital. The company’s revenue in 2020 was reported at $3.59 billion.
8. LG Innotek Co Ltd (KS:011070)
Annual revenue 2021: ?5.72 trillion
LG Innotek Co Ltd (KS:011070), a subsidiary of LG Display Co, is a company that deals in designing, manufacturing, and selling electronic materials, components, and electronic devices. LG Innotek Co Ltd (KS:011070) was founded in 1958 initially as Goldstar Co., Ltd and was a pioneer in lighting technology. It was the first Korean-based company to establish its presence overseas. The company’s key segments include Optics Solution, Substrate & Material, Automotive Components, and Electronic Components. LG Innotek Co Ltd (KS:011070) generated ?5.72 trillion in revenue in 2021.
7. Signify NV (AMS:LIGHT)
Annual revenue 2021: €6.86 billion
Previously part of Koninklijke Philips N.V., Signify NV (AMS:LIGHT) was formed in 2016 as a result of a spin-off of the lighting division of Koninklijke Philips N.V. Signify NV (AMS:LIGHT) is now a leading company in the lighting industry and has several known brands under its portfolio including Interact, Philips Dynalite, Philips Hue, and Color Kinetics. Signify NV (AMS:LIGHT)’s LED offerings include LED tubes, LED MasterConnect, LED spots, LED bulbs, and LED PL lamps. The company generated €6.86 billion in sales in 2021.
6. Koito Manufacturing Co., Ltd (OTC:KOTMY)
Annual revenue 2020: $7.35 billion
Founded in 1915 and with an experience of over 100 years, Koito Manufacturing Co., Ltd (OTC: KOTMY) is one of Japan's leading companies in this industry. The sectors Koito Manufacturing Co., Ltd (OTC: KOTMY) mainly engages in are automotive lighting, aircraft parts, train vehicle parts, and electrical and measuring equipment. The company’s product line-up includes LED Headlamps, Fog Lamps, Discharge Headlamps, LED Marine Lamps and LED Rear Combination Lamps. The annual revenue of Koito Manufacturing Co., Ltd (OTC: KOTMY) in 2020 stood at $7.35 billion.
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Disclosure: None. 14 Biggest Lighting Companies in the World is originally published on Insider Monkey.
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