Europe LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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
Key Questions Answered in This Report
1. What was the size of the Europe LED lighting market in 2022?
2. What is the expected growth rate of the Europe LED lighting market during 2023-2028?
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?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Lighting Industry
- 5.1 Global Lighting Market
- 5.1.1 Market Overview
- 5.1.2 Market Performance
- 5.1.3 Market Breakup by Region
- 5.1.4 Market Breakup by Technology
- 5.1.5 Market Breakup by Application
- 5.1.6 Market Forecast
- 5.2 Global LED Lighting Market
- 5.2.1 Market Overview
- 5.2.2 Market Performance
- 5.2.3 Market Breakup by Region
- 5.2.4 Market Breakup by Product Type
- 5.2.5 Market Breakup by Application
- 5.2.6 Market Forecast
- 6 Europe Lighting Market
- 6.1 Market Overview
- 6.2 Market Performance
- 6.3 Market Breakup by Country
- 6.4 Market Breakup by Technology
- 6.5 Market Breakup by Application
- 6.6 Market Forecast
- 7 Europe LED Lighting Market
- 7.1 Market Overview
- 7.2 Market Performance
- 7.3 Impact of COVID-19
- 7.4 Market Breakup by Country
- 7.5 Market Breakup by Product Type
- 7.6 Market Breakup by Installation
- 7.7 Market Breakup by Application
- 7.8 Market Forecast
- 7.9 SWOT Analysis
- 7.9.1 Overview
- 7.9.2 Strengths
- 7.9.3 Weaknesses
- 7.9.4 Opportunities
- 7.9.5 Threats
- 7.10 Value Chain Analysis
- 7.10.1 Overview
- 7.10.2 Primary Raw Material Suppliers
- 7.10.3 LED Chip Manufacturers
- 7.10.4 LED Package and Manufacturers
- 7.10.5 Lighting Products, Electronic Products and Automotive Parts Manufacturers
- 7.10.6 Product Distribution
- 7.11 Porters Five Forces Analysis
- 7.11.1 Overview
- 7.11.2 Bargaining Power of Buyers
- 7.11.3 Bargaining Power of Suppliers
- 7.11.4 Degree of Competition
- 7.11.5 Threat of New Entrants
- 7.11.6 Threat of Substitutes
- 7.12 Key Market Drivers and Success Factors
- 7.13 Key Risk Factors for LED Manufacturers
- 7.14 Comparison of LED’s with Conventional Lighting Technologies
- 8 Price Analysis
- 8.1 Key Price Indicators
- 8.2 Price Structure
- 8.3 Margin Analysis
- 9 Market Breakup by Country
- 9.1 Germany
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 United Kingdom
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 France
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Italy
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Spain
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Others
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 10 Market Breakup by Product Type
- 10.1 LED Lamps and Modules
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 LED Fixtures
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 11 Market Breakup by Installation
- 11.1 New Installation
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Replacement
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 12 Market Breakup by Application
- 12.1 Residential
- 12.1.1 Market Trends
- 12.1.2 Market Forecast
- 12.2 Outdoor
- 12.2.1 Market Trends
- 12.2.2 Market Forecast
- 12.3 Retail and Hospitality
- 12.3.1 Market Trends
- 12.3.2 Market Forecast
- 12.4 Offices
- 12.4.1 Market Trends
- 12.4.2 Market Forecast
- 12.5 Industrial
- 12.5.1 Market Trends
- 12.5.2 Market Forecast
- 12.6 Architectural
- 12.6.1 Market Trends
- 12.6.2 Market Forecast
- 12.7 Others
- 12.7.1 Market Trends
- 12.7.2 Market Forecast
- 13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Cree Inc.
- 13.3.2 Dialight PLC
- 13.3.3 Eaton Corporation Inc. (Cooper Industries LLC)
- 13.3.4 Osram Licht AG
- 13.3.5 Panasonic Corporation
- 13.3.6 Seoul Semiconductor Co., Ltd.
- 13.3.7 Signify N.V. (Philips Inc.)
- 13.3.8 TRILUX GmbH & Co. KG
- 13.3.9 Zumtobel Group AG
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