Europe LED Lighting Market Report

Market Overview:

The Europe LED lighting market size reached US$ 20.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.9 Billion by 2028, exhibiting a growth rate (CAGR) of 10.7% during 2023-2028.

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 report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type, installation and application.

Breakup by Country:

• Germany
• United Kingdom
• France
• Italy
• Spain
• Others
   

Germany currently represents the largest market for LED lighting in the European region.

Breakup by Product Type:

• LED Lamps and Modules
• LED Fixtures
   

LED lamps and modules currently dominate the market, holding the largest share.

Breakup by Installation:

• New Installation
• Replacement
   

There is an increase in the new installation of LED lighting solutions across Europe on account of the growing adoption of efficient lighting technologies.

Breakup by Application:

• Residential
• Retail and Hospitality
• Outdoor
• Offices
• Architectural
• Industrial
• Others
   

LED lighting products find application in the residential sector of the region due to stringent regulations implemented by governing authorities.

Competitive Landscape:

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:

• Cree Inc.
• Dialight PLC
• Eaton Corporation Inc. (Cooper Industries LLC)
• Osram Licht AG
• Panasonic Corporation
• Seoul Semiconductor Co., Ltd.
• Signify N.V. (Philips Inc.)
• TRILUX GmbH & Co. KG
• Zumtobel Group AG

Report Coverage: