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The Europe LED lighting market reached a value of US$ 16.7 Billion in 2020. 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. Looking forward, IMARC Group expects the Europe LED lighting market to exhibit strong growth during 2021-2026.
Market Breakup by Country
Germany currently represents the largest market for LED lighting in the European region.
Market Breakup by Product Type
LED lamps and modules currently dominate the market, holding the largest share.
Market Breakup by Application
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:
The Europe LED lighting market size was valued at US$ 16.7 Billion in 2020.
According to the estimates by IMARC Group, the Europe LED lighting market is expected to exhibit a strong growth during 2021-2026.
The growing number of smart building projects and significant decline in the average prices of LEDs represent some of the key drivers in the Europe LED lighting market.
The introduction of stringent measures under the European Union’s policy for banning the sales of incandescent and mercury-based lighting solutions, represents one of the key trends in the Europe LED lighting market.
Region-wise, the market has been classified into Germany, United Kingdom, France, Italy, Spain and Others, where Germany dominates the global market.
The key companies in the Europe LED lighting 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 and Zumtobel Group AG.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several European countries resulting in temporary closure of numerous manufacturing units and supply chain disruptions of LED lighting.
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