Spain LED Lighting Market Overview, 2028

Spain LED Lighting Market Overview, 2028

The Spanish market is on a rapid transformation path toward LED technology. There is potential in both the residential and commercial sectors, which bodes well for the future of the LED lighting industry in Spain. The expansion of smart cities, rising wireless technology usage, and raising awareness of energy conservation are the main growth factors for this industry. A light-emitting diode (LED) is a semiconductor device that, when powered by electricity, emits non-coherent, narrow-spectrum light. Because they are more energy-efficient, have a longer lifespan, and require less electricity to operate, LED-based lights are preferable over conventional lighting technologies. Europe is one of the world's most inventive lighting marketplaces as the lighting industry transitions to solid-state lighting and LED sources.

According to the research report “Spain LED LightMarket Overview, 2028, published by Bonafide Research, the market will grow by USD 1.46 Billion in the upcoming year, 2022–2028. The luminaires segment dominated overall Spain LED light market share in 2022 and is expected to remain dominant during the forecast period. As designers explore methods to add more lighting controls, brightness, colors, durability, and energy-saving efficiency, LED lights will continue to be popular in 2022. Many distinctive lighting designs will alter and disappear when inefficient bulbs are replaced with LEDs. LED lighting starts to gain popularity in companies, hospitals, and schools in 2008. An LED's rated lifespan can reach 50,000 hours on average. This is around fifty times longer than an average incandescent, twenty to twenty-five times longer than an average halogen, and ten to ten times longer than an average CFL. A 50,000-hour LED will last more than 11 years when utilized for 12 hours each day.

Modern panel lights are now available in LEDs. The light-emitting diodes provide more benefits since it is more energy-efficient. It’s the best alternative for fluorescent lights since they are more stable. Commercial facilities will benefit from using LED panel lights. Some LED panel light manufacturers in Spain include AIRIS LED, Secom Lighting SL, Artesolar illumination, JISO ILUMINACION, LEDISSON, Kadylux Electronics SL, Antonio Lopez Garrido SA, ThreeLine Technology, and Globe Light.LUZLED Led lighting company is located in Spain, all its products are made in China under the verification of Spanish coordinators and staff.

The European Union's legislative regulations prohibiting the sale of inefficient lighting technologies have been a major driver of the demand for LED goods in Spain. 2019 saw the phase-out of incandescent lighting throughout Spain. Halogen lights with a directed beam were also phased out in 2019. Similarly to this, the area outlawed the sale of non-directional halogen bulbs in September 2018. These legislative changes have made it easier for customers to progressively switch from conventional lighting to items based on LED technology. Additionally, moving to energy-efficient LED lighting has produced major environmental advantages while saving money for customers. Due to the high cost of electricity in the area, governments, public investors, and private homes are all looking at energy-efficient lighting options. To boost consumer acceptance of LED goods and phase out older, less efficient technologies, the governments in the region are also offering subsidies and incentives. This will improve the overall efficiency of the lighting sector in Spain. Infrastructure development planned smart building initiatives, and a drop in the average price of LEDs are other significant factors influencing the demand for LED goods in Spain.

Some of the major LED lighting firms in Spain include Royal Eijkelkamp, NIVUS GmbH, IUL S.A, Metrohm AG, Monitor Technologies, LLC, Tana Oy, Analytik Jena - an EndressHauser Company, Delta-T Devices Ltd., AMETEK Land Instruments International Ltd, Ordisi, Cavenco, and EuroSMC S.A.

Covid19 impact
The COVID-19 epidemic has affected and will undoubtedly continue to affect the global lighting business. Residential constructions have been delayed in nations like China and India as a result of the government's strict lockdown procedures. Another effect of the pandemic on the LED lighting sector is the disruption in the supply of electrical components from China. The supply and demand in the lighting business have also been impacted by the paucity of raw materials needed to manufacture light casings, chips, and other components. Market expansion is anticipated to continue unabated during the shutdown. Due to the early closures in the business sector and industries like the automobile and retail, the pandemic has also had an impact on growth. The Lighting Industry Association (LIA) said that 89% of its members indicated that their businesses stayed open and had regained 95% of their revenues during the shutdown period.

Considered in this report
• Geography: Spain
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Spain LED Light market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Lamps :
• A-Type
• T-type
• Others (Can LED light bulbs, Flood LED light bulbs, Track LED light bulbs, Tube LED light bulbs, Etc.)
• Luminaries :
• Downlighting
• Decorative
• Directional
• Others

By Application:
• Indoor
• Outdoor

By Sales Channel:
• Retail/ Wholesale
• Direct Sale
• E-commerce

By Installation Type:
• New
• Retrofit

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the LED Lighting industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.