Europe LED Lighting Market to Reach USD 55.1 Billion by 2033, Impelled by Escalating Demand for Energy-Efficient Lighting Solutions

December 06, 2024 | Electronics and Semiconductors

The latest report by IMARC Group, titled “Europe LED Lighting Market Report by Product Type (LED Lamps and Modules, LED Fixtures), Installation (New Installation, Replacement), Application (Residential, Outdoor, Retail and Hospitality, Offices, Industrial, Architectural, and Others), and Country 2025-2033,” finds that the Europe LED lighting market size reached USD 24.7 Billion in 2024. A light-emitting diode (LED) is a semiconductor device that emits a non-coherent and narrow-spectrum light when an electrical current passes through it. LED light is environment-friendly, durable, and consumes 90% less energy as compared to conventional incandescent or fluorescent bulbs. It is also compact in size, physically robust, and has an extended shelf life. As a result, LED lighting is extensively utilized in Europe as a key light source for streetlights, walkways, outdoors, parking spaces, and task lighting across residential and commercial spaces.

Europe LED Lighting Market Trends:

The market is primarily driven by the escalating demand for energy-efficient lighting systems in the European region. In addition, the growing awareness regarding the low power consumption associated with LED lighting represents another major growth-inducing factor. Besides this, the governing agencies in the European region are introducing stringent policies to promote the utilization of sustainable lighting solutions, and ban directional and non-directional halogen lamps. This, coupled with the subsidies and incentives provided by the government to increase the adoption of LED products, has encouraged consumers to buy LED technology-based products. Moreover, the introduction of cost-effective smart LED lighting systems with improved control methods is also contributing to the market growth. Furthermore, significant developments in the infrastructures across the region and the declining prices of LEDs are expected to create a favorable market outlook in the coming years. Looking forward, IMARC Group expects the market value to reach USD 55.1 Billion by 2033, exhibiting a CAGR of 8.87% during the forecast period (2025-2033).

Market Summary:

Based on the product type, the market has been bifurcated into LED lamps and modules, and fixtures. At present, LED lamps and modules exhibit a clear dominance in the market.
On the basis of the installation, new installation holds a leading position in the market.
Based on the application, the market has been classified into residential, outdoor, retail and hospitality, offices, industrial, architectural, and others. Amongst these, the residential sector accounts for the majority of the total market share.
On the geographical front, Germany holds the leading position in the market. Other major countries include the United Kingdom, France, Italy, and Spain.
The competitive landscape of the market has also been analyzed in the report, with some of the key players being 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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Product Type Installation Application Country
Product Types Covered	LED Lamps and Modules, LED Fixtures
Installations Covered	New Installation, Replacement
Applications Covered	Residential, Outdoor, Retail and Hospitality, Offices, Industrial, Architectural, Others
Countries Covered	Germany, United Kingdom, France, Italy, Spain, Others
Companies Covered	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 etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Europe LED Lighting Market to Reach USD 55.1 Billion by 2033, Impelled by Escalating Demand for Energy-Efficient Lighting Solutions

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