The Europe LED lighting market reached a value of US$ 18.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34.5 Billion by 2027, exhibiting a CAGR of 11.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A light-emitting diode (LED) refers to a semiconductor device that produces non-coherent and narrow-spectrum light when electricity passes through it. LED based lights are preferred over conventional lighting technologies as they are environment-friendly, have longer life span, are energy efficient and have low power consumption. With the lighting industry transformation towards LED sources and solid-state lighting, Europe represents one of the most innovative lighting markets across the globe.
A key factor driving the demand of LED products in Europe has been the European Union’s policy measures banning the sale of inefficient lighting technologies. In 2009, Europe phased out incandescent lamps in the region. In 2016, directional halogen lamps were also phased out. Similarly, in September 2018, the region also banned the sale of non-directional halogen lamps. These policy measures have facilitated consumers to gradually replace their traditional lighting products with LED technology-based products. Moreover, to generate cost-savings for consumers, switching to energy efficient LED lights have provided significant environmental benefits. The high energy costs in the region are forcing households, public investors and governments to consider energy saving lighting solutions. The governments across the region are also providing subsidies and incentives to increase the adoption of LED products among consumers and phasing out older and less efficient technologies to enhance the overall efficiency of the lighting industry in Europe. Other key factors driving the demand of LED products in Europe include infrastructure growth, upcoming smart building projects and decline in the average prices of LEDs.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe LED lighting market, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on product type, installation and application.
Breakup by Country:
Germany currently represents the largest market for LED lighting in the European region.
Breakup by Product Type:
LED Lamps and Modules
LED lamps and modules currently dominate the market, holding the largest share.
Breakup by Installation:
Breakup by Application:
Retail and Hospitality
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players operating in the market are:
Eaton Corporation Inc. (Cooper Industries LLC)
Osram Licht AG
Seoul Semiconductor Co., Ltd.
Signify N.V. (Philips Inc.)
TRILUX GmbH & Co. KG
Zumtobel Group AG Key Questions Answered in This Report
1. What was the size of the Europe LED lighting market in 2021?
2. What is the expected growth rate of the Europe LED lighting market during 2022-2027?
3. What are the key factors driving the Europe LED lighting market?
4. What has been the impact of COVID-19 on the Europe LED lighting market?
5. What is the breakup of the Europe LED lighting market based on the product type?
6. What is the breakup of the Europe LED lighting market based on the installation?
7. What is the breakup of the Europe LED lighting market based on the application?
8. What are the key regions in the Europe LED lighting market?
9. Who are the key players/companies in the Europe LED lighting market?