LED lighting stocks are companies who manufacture and develop LED lighting technology and energy efficient lighting systems.
The LED lighting industry has been on a steady growth trajectory, and it is projected to continue growing in 2023 and beyond.
With the rising demand for energy-efficient lighting solutions, coupled with increased awareness about environmental, social, and governance (ESG) factors, LED lighting stocks have become an attractive investment opportunity.
The global LED lighting market was last valued at $70.94 billion in 2022, and is projected to grow at a CAGR of 11% from 2023 – 2030 (Grand View Research, 2022).
The energy efficiency of LED lighting is a significant driver of the industry’s growth.
LEDs consume up to 90% less energy than traditional incandescent bulbs, and they have a much longer lifespan.
This translates to lower energy bills and reduced maintenance costs for consumers and businesses.
ESG in LED Lighting Industry
ESG factors are also driving the demand for LED lighting solutions.
As environmental concerns become more pressing, businesses and consumers are increasingly prioritizing sustainable and environmentally friendly products.
LED lighting solutions are an excellent way for businesses to reduce their carbon footprint and showcase their commitment to sustainability.
Best LED Lighting Stocks to Watch for 2023
- Acuity Brands
- Hubbell
- Wolfspeed
- General Electric Company
- Eaton Corporation
- Universal Display Corporation
- Veeco Instruments
1. Acuity Brands (NYSE: AYI)
- Ticker: AYI
- Dividend Yield: 0.33%
- Market Cap: $5.03 Billion
Acuity Brands Inc. is a leading provider of LED lighting solutions for commercial, industrial, and residential applications.
The company has a market capitalization of $5.03 billion and operates in over 30 countries.
Acuity Brands’ commitment to sustainability has helped it gain a competitive edge in the market.
This has helped it attract a growing customer base and secure a strong market position.
2. Hubbell (NYSE: HUBB)
- Ticker: HUBB
- Dividend Yield: 1.65%
- Market Cap: $14.49 Billion
Hubbell Incorporated is a multinational manufacturer of electrical and lighting products, including LED lighting solutions.
The company has a market capitalization of $14.49 billion and operates in over 100 countries.
Their products include both residential, commercial and industrial LED lighting solutions for consumers and businesses.
The company has invested heavily in research and development to create more efficient and cost-effective LED lighting solutions.
3. Wolfspeed (NYSE: WOLF)
- Ticker: WOLF
- Dividend Yield: N/A
- Market Cap: $5.14 Billion
Wolfspeed Inc. is a technology company that provides power and radio frequency (RF) solutions, including LED lighting solutions.
The company has a market capitalization of $5.14 billion and operates in over 20 countries.
Wolfspeed’s LED lighting solutions offer superior performance and energy efficiency compared to traditional lighting solutions.
Their products are used in a variety of applications, including industrial, automotive, and residential lighting.
4. General Electric Company (NYSE: GE)
- Ticker: GE
- Dividend Yield: 0.32%
- Market Cap: $110.03 Billion
General Electric Company is a multinational conglomerate that produces a wide range of products, including LED lighting solutions.
The company has a market capitalization of $110.03 billion and operates in over 100 countries.
GE is a leader in LED lighting solutions and includes their line of LED products, Sun filled, LED+, and grow light LED.
With more than a century of track record, General electric is a top LED lighting stock to consider for 2023.
5. Eaton Corporation PLC (NYSE: ETN)
- Ticker: ETN
- Dividend Yield: 2.01%
- Market Cap: $67.71 Billion
Eaton Corporation Plc is a multinational power management company that produces a range of products, including LED lighting solutions.
The company has a market capitalization of $67.71 billion and operates in over 175 countries.
Their designs and specifications are built to withstand some of the toughest weather conditions.
Eaton offers LED lighting solutions for both industrial and commercial applications.
6. Universal Display (NASDAQ: OLED)
- Ticker: OLED
- Dividend Yield: 1.02%
- Market Cap: $6.59 Billion
Universal Display Corp. is a technology company that provides OLED lighting and display solutions.
The company has a market capitalization of $6.59 billion and operates in over 20 countries.
Their technology is used in a variety of applications, including lighting, automotive, and consumer electronics.
Universal Display’s products offer superior performance and energy efficiency compared to traditional lighting solutions, making them an attractive option for consumers and businesses alike.
7. Veeco Instruments (NASDAQ: VECO)
- Ticker: VECO
- Dividend Yield: N/A
- Market Cap: $992.84 Million
Veeco Instruments Inc. is a technology company that provides advanced equipment solutions for the LED lighting industry.
The company has a market capitalization of $992 million and operates in over 20 countries.
Their products and services help LED manufacturers to reduce production costs, improve performance, and increase yields.
Veeco’s technology has been recognized as a key driver of the LED lighting industry’s growth, and its products are widely used by leading LED manufacturers around the world.
Best LED Lighting Stocks: In Now the Time to Buy in 2023?
The LED lighting industry presents a compelling opportunity for investors looking to capitalize on the growing demand for energy-efficient and sustainable lighting solutions.
The seven companies listed above, are among the best LED lighting stocks to buy for 2023.
They offer a wide range of products and services to meet the needs of various industries and consumers.
By carefully evaluating these companies’ focus on innovation, sustainability, and market position, investors can identify the best LED lighting stocks to buy and position themselves to benefit from the industry’s growth.
Disclosure: The author holds no position mentioned in this article. Freedom Stocks has a disclosure policy.
