Europe LED Lighting Market Outlook, 2028

Europe LED Lighting Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition Forecast & Opportunities.

Featured Companies

  • 1. General Electric Company
  • 2. Havells India Limited
  • 3. Panasonic Corporation
  • 4. Samsung Electronics Co., Limited
  • 5. Syska LED Lights Private Limited
  • 6. Koninklijke Philips
  • More...

A key factor driving the demand for 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' gradual replacement of traditional lighting products with LED technology-based products. Moreover, to generate cost savings for consumers, switching to energy-efficient LED lights has 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 phase out older and less efficient technologies to enhance the overall efficiency of the lighting industry in Europe. Other key factors driving the demand for LED products in Europe include infrastructure growth and a decline in the average price of LEDs.

According to the research report, "Europe LED Lighting Market Outlook, 2028," published by Bonafide Research, the market is projected to add USD 13.43 billion from 2023 to 2028. The rise in the number of stringent government regulations, such as the ban on less-efficient lighting sources and incentives and rebates on LED lighting, is expected to drive the market significantly over the forecast period. The region also has several standards that govern the safety and performance of indoor commercial lighting as well as garage illumination, roadway lighting, and parking lighting. Moreover, increasing awareness about energy conservation is further driving the market growth. The European commercial and industrial sector is flourishing owing to the growth of the regional automotive and IT industries. The region has also fully recovered from the 2008 financial crisis, and most industries affected by it have been recording steady growth over the years. In 2018, the region experienced the lowest office vacancy rates since the financial crisis. Favorable business conditions and growing individual economies are expected to improve the demand for LED lighting in the region over the forecast period.

In Europe, Germany dominated the overall regional market in 2022, and it is expected to continue this trend during the forecast period. Germany is expected to see higher demand during the forecast period due to the country's large manufacturing units of smart home equipment. Further, the rapid growth of the European market is attributed to the increasing adoption of LED lighting in residential spaces in countries such as Germany, the United Kingdom, and France as a result of improved energy efficiency and cost-effectiveness. More than 14% of household lighting in the UK is LED. In addition, increasing government support and initiatives for replacing incandescent bulbs with more energy-efficient LEDs are expected to boost market revenue growth in countries in the region. For example, the UK government's Green Homes Grant program will help homeowners install energy-efficient LED lights to save energy, which is expected to drive market revenue growth in the near future.

Similarly, the construction industry has observed notable growth from the commercial and industrial sectors in the past few years, as the need for commercial spaces is on the rise. To benefit from this trend, electricity supply companies have collaborated with the government to distribute subsidized LED lights to the commercial sector. As LED lighting considerably brings down electricity and maintenance costs as compared to traditional technologies such as gas-discharge lights, incandescent lights, and compact fluorescent lights, such collaborations are expected to further encourage the adoption of LED lighting solutions in the enterprise sector. According to the report, luminary products will lead the market in 2022 by more than 55%.

Integration of intelligent technology within the infrastructure and the presence of facilities to control lighting and the electrical device is expected to lower operating costs and offer the advantage of remote monitoring and control across the region. Due to the adoption of LED lighting, improved building energy efficiency is expected to tackle prevailing energy problems and subsequently cut down on electricity bills and put less pressure on the existing infrastructure. Also, with the increasing demand for smart buildings, which use emerging technology comprising of the Internet of Things, sensors, software, and the option for online connectivity to monitor and provide insightful solutions for achieving higher energy efficiency, which in turn is expected to propel the growth of the LED lighting market till 2028, Based on the installation types, the market is anticipated to be dominated by new LED lighting projects.

Europe's indoor LED lighting segment is anticipated to grow owing to the rise in residential construction activities and the focus of government authorities on home renovation projects. Furthermore, stringent government regulations, such as a ban on high-energy-consuming fluorescent and halogen bulbs, will accelerate the industry's value. Incentives and rebates on LED lighting are supporting the industry's demand for LED lights. The European government has mandated the Eco-Design regulation for selling lamps in Europe. The existing rules under European Regulation No. 874/2012 will be replaced by a new energy regulation that sets energy efficiency requirements, bulb lifetime, and warm-up time under the EU 2019/2015 regulation, effective September 1, 2021. Furthermore, companies in the region are launching new products to cater to consumer demands in design, energy efficiency, applications, and other functionalities. In August 2020, for instance, Osram Semiconductors of Germany launched the Synios S 2222 product series with a compact size, high brightness value, and wide color range of light sources. The Synios S 2222 product line comes in six different colors, providing high-quality, personalized lighting solutions for different application scenarios, such as architectural lighting.

According to recent reports, the global urban population has escalated from 751 million in 1950 to over 4.2 billion in 2018 and is further projected to hit 7.7 billion by 2050. With demographic changes, smart city projects, many of which are emerging in Europe, have been identified as an effective and promising way to improve cities. In Europe, the increasing rate of smart city projects is indirectly expected to favor the growth of LED lighting, given the demand for smart and sustainable lighting products. It is prudent to mention that this trend has also been majorly fuelling the smart lighting market, which is recently traversing a lucrative roadmap, given the crucial role these components play in smart city infrastructure. Furthermore, the regional government has launched several smart city programs to deploy smart lighting solutions in outdoor and indoor spaces. The demand for sustainable and energy-efficient lighting systems will drive the Europe LED lighting market to new heights in the coming years. Based on the sales channel, the retail-wholesaler segment dominates the market, followed by direct sales.

Cities in various countries of Europe, including Germany, are developing and applying strategies to improve the public, commercial, and residential lighting infrastructure of the countries by reducing costs and improving the urban environment, giving the decorative lighting segment an opportunity to grow. Furthermore, emerging technologies such as the Internet of Things and the widespread adoption of smart homes are fuelling the growth of technology-enabled decorative lighting. For instance, in August 2020, Ledvance GMBH, a Germany-based company, announced the LEDVANCE and Bosch Smart Home lighting solutions for the smart home. The integration of LEDVANCE Smart+ products into the Bosch Smart Home System makes the application even easier for customers; it is a high-quality solution for a safe home without the need for an additional bridge. Decorative lighting and LEDs are also widely used in offices across the country. In order to provide efficient and healthy lighting facilities, several organizations in Europe are utilizing intelligent lighting systems and LED products, further supporting industry growth.

Covid-19 Impacts:
In 2020, the COVID-19 pandemic negatively impacted the global market, and Europe was no exception to that. Strict lockdowns and temporary suspensions of construction sites resulted in a decline in demand for LED lighting. However, in the second quarter of 2021, construction activities witnessed growth with the introduction of new as well as redesigned projects, thus leading to the gradual recovery of the LED lighting market in the European region.

Recent Developments:
• In December 2022, the Ukraine government announced that it will be providing the Ukrainians will be given 5 LED lamps for replacing their incandescent lamps. This initiative will help Ukraine save energy during these difficult times.
• In March 2020, Signify, which is a world leader in lighting, expanded its collaboration with Italy-based Planet Farms, which is a leading operator of vertical farms in Europe. The collaboration is expected to enable Plant Farms in producing and delivering the tastiest aromatic herbs and lettuce to its customers in Italy all year round. Signify is expected to provide Planet Farms with the Philips Greenpower LED production module managed with the Philips GrowWise Control System. Signify also made an agreement with Planet Farms to provide horticulture LED grow lights to its additional five vertical farms that the company is planning to build in different countries in Europe, including the U.K. and Switzerland, in the coming years.
• May 2022 - SYSKA LED, a major LED lighting solutions provider, announced the launch of Syska LED Recessed SMD Downlight (Glowslick-SSK-SLP). The innovative Syska LED Recessed SMD Downlight is the perfect lighting solution for indoor applications, as it can be used in malls, stores, homes, showrooms, and office spaces.
• June 2021 - Syska announced the launch of new LED Lights under the ‘T5 LED Batten’ brand in India for only Rs 449 and Rs 549. Syska T5 LED Batten (PC) and Syska T5 LED Batten (AL) LED have surged the protection of 4KV and are installed with 440V OVP(Over Voltage protection).

Major Companies present in the market:
Samsung, Koninklijke Philips Nv, Panasonic Corporation, Opple Lighting Co. Limited, Osram Licht Ag, Valeo Sa, General Electric Company, Hubbell Incorporated, Magneti Marelli Spa, Seoul Semiconductor, Havells India Limited, Signify Holding, Acuity Brands Lighting Inc., Stanley Electric Co. Ltd, NVC Lighting Technology Corporation, Siteco Gmbh, Everlight Electronics Co. Ltd LG Electronics

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

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

Countries covered in the report:
• Germany
• United Kingdom
• France
• Spain
• Italy
• Russia

By Product:
• Lamps
• Luminaries

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.

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Companies Mentioned

  • General Electric Company
  • Havells India Limited
  • Panasonic Corporation
  • Samsung Electronics Co., Limited
  • Syska LED Lights Private Limited
  • Koninklijke Philips
  • LG Electronic
  • Signify Holding
  • OSRAM GmbH.
  • Everlight Electronics co. Ltd
  • Opple Lighting Co. Limited
  • Valeo Sa
  • Hubbell Incorporated
  • Magneti Marelli Spa
  • Seoul Semiconductor
  • Acuity Brands Lighting Inc.
  • Stanley Electric Co ltd
  • Nvc Lighting Technology Corporation

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers
  • 2.2. Challenges
  • 2.3. Opportunity
  • 2.4. Restraints
  • 2.5. Market Trends
  • 2.6. Covid-19 Effect
  • 2.7. Supply chain Analysis
  • 2.8. Policy & Regulatory Framework
  • 2.9. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Competitive Landscape
  • 6.1. Competitive Dashboard
  • 6.2. Business Strategies Adopted by Key Players
  • 6.3. Key Players Market Share Insights and Analysis, 2022
  • 6.4. Key Players Market Positioning Matrix
  • 6.5. Consolidated SWOT Analysis of Key Players
  • 6.6. Porter's Five Forces
  • 7. Global LED Lighting Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Size and Forecast, By Geography
  • 7.3. Market Size and Forecast, By Product Type
  • 7.4. Market Size and Forecast, By Application
  • 7.5. Market Size and Forecast, By Sales Channel
  • 7.6. Market Size and Forecast, By Installation Type
  • 8. Europe LED Lighting Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast By Product Type
  • 8.4. Market Size and Forecast By Application
  • 8.5. Market Size and Forecast By Sales Channel
  • 8.6. Market Size and Forecast By Installation Type
  • 8.7. Germany LED Lighting Market Outlook
  • 8.7.1. Market Size By Value
  • 8.7.2. Market Size and Forecast By Product Type
  • 8.7.3. Market Size and Forecast By Application
  • 8.7.4. Market Size and Forecast By Sales Channel
  • 8.7.5. Market Size and Forecast By Installation Type
  • 8.8. UK LED Lighting Market Outlook
  • 8.8.1. Market Size By Value
  • 8.8.2. Market Size and Forecast By Product Type
  • 8.8.3. Market Size and Forecast By Application
  • 8.8.4. Market Size and Forecast By Sales Channel
  • 8.8.5. Market Size and Forecast By Installation Type
  • 8.9. France LED Lighting Market Outlook
  • 8.9.1. Market Size By Value
  • 8.9.2. Market Size and Forecast By Product Type
  • 8.9.3. Market Size and Forecast By Application
  • 8.9.4. Market Size and Forecast By Sales Channel
  • 8.9.5. Market Size and Forecast By Installation Type
  • 8.10. Italy LED Lighting Market Outlook
  • 8.10.1. Market Size By Value
  • 8.10.2. Market Size and Forecast By Product Type
  • 8.10.3. Market Size and Forecast By Application
  • 8.10.4. Market Size and Forecast By Sales Channel
  • 8.10.5. Market Size and Forecast By Installation Type
  • 8.11. Spain LED Lighting Market Outlook
  • 8.11.1. Market Size By Value
  • 8.11.2. Market Size and Forecast By Product Type
  • 8.11.3. Market Size and Forecast By Application
  • 8.11.4. Market Size and Forecast By Sales Channel
  • 8.11.5. Market Size and Forecast By Installation Type
  • 8.12. Russia LED Lighting Market Outlook
  • 8.12.1. Market Size By Value
  • 8.12.2. Market Size and Forecast By Product Type
  • 8.12.3. Market Size and Forecast By Application
  • 8.12.4. Market Size and Forecast By Sales Channel
  • 8.12.5. Market Size and Forecast By Installation Type
  • 9. Company Profile
  • 9.1. Samsung
  • 9.1.1. Company Snapshot
  • 9.1.2. Company Overview
  • 9.1.3. Financial Highlights
  • 9.1.4. Geographic Insights
  • 9.1.5. Business Segment & Performance
  • 9.1.6. Product Portfolio
  • 9.1.7. Key Executives
  • 9.1.8. Strategic Moves & Developments
  • 9.2. Koninklijke Philips Nv
  • 9.3. Panasonic Corporation
  • 9.4. Opple Lighting Co. Limited
  • 9.5. Osram Licht Ag
  • 9.6. Valeo Sa
  • 9.7. General Electric Company
  • 9.8. Hubbell Incorporated
  • 9.9. Magneti Marelli Spa
  • 9.10. Seoul Semiconductor
  • 9.11. Havells India Limited
  • 9.12. Signify Holding
  • 9.13. Acuity Brands Lighting Inc.
  • 9.14. Stanley Electric Co. Ltd
  • 9.15. Nvc Lighting Technology Corporation
  • 9.16. Siteco Gmbh
  • 9.17. Everlight Electronics Co, Ltd
  • 9.18. LG Electronics
  • 10. Strategic Recommendations
  • 11. Annexure
  • 11.1. FAQ`s
  • 11.2. Notes
  • 11.3. Related Reports
  • 12. Disclaimer

List of Table

Table 1: Global LED Lighting Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Influencing Factors for Global LED Lighting Market, 2022
Table 3: Top 10 Counties Economic Snapshot 2020
Table 4: Economic Snapshot of Other Prominent Countries 2020
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global LED Lighting Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 7: Global LED Lighting Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 8: Global LED Lighting Market Size and Forecast, By Application (2017 to 2028F) (In USD Billion)
Table 9: Global LED Lighting Market Size and Forecast, By Sales Channel (2017 to 2028F) (In USD Billion)
Table 10: Global LED Lighting Market Size and Forecast, By Installation Type (2017 to 2028F) (In USD Billion)
Table 11: Europe LED Lighting Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 12: Europe LED Lighting Market Size and Forecast By Application (2017 to 2028F) (In USD Billion)
Table 13: Europe LED Lighting Market Size and Forecast By Sales Channel (2017 to 2028F) (In USD Billion)
Table 14: Europe LED Lighting Market Size and Forecast By Installation Type (2017 to 2028F) (In USD Billion)
Table 15: Germany LED Lighting Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 16: Germany LED Lighting Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 17: Germany LED Lighting Market Size and Forecast By Sales Channel (2017, 2022 & 2028F)
Table 18: Germany LED Lighting Market Size and Forecast By Installation Type (2017, 2022 & 2028F)
Table 19: UK LED Lighting Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 20: UK LED Lighting Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 21: UK LED Lighting Market Size and Forecast By Sales Channel (2017, 2022 & 2028F)
Table 22: UK LED Lighting Market Size and Forecast By Installation Type (2017, 2022 & 2028F)
Table 23: France LED Lighting Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 24: France LED Lighting Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 25: France LED Lighting Market Size and Forecast By Sales Channel (2017, 2022 & 2028F)
Table 26: France LED Lighting Market Size and Forecast By Installation Type (2017, 2022 & 2028F)
Table 27: Italy LED Lighting Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 28: Italy LED Lighting Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 29: Italy LED Lighting Market Size and Forecast By Sales Channel (2017, 2022 & 2028F)
Table 30: Italy LED Lighting Market Size and Forecast By Installation Type (2017, 2022 & 2028F)
Table 31: Spain LED Lighting Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 32: Spain LED Lighting Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 33: Spain LED Lighting Market Size and Forecast By Sales Channel (2017, 2022 & 2028F)
Table 34: Spain LED Lighting Market Size and Forecast By Installation Type (2017, 2022 & 2028F)
Table 35: Russia LED Lighting Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 36: Russia LED Lighting Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 37: Russia LED Lighting Market Size and Forecast By Sales Channel (2017, 2022 & 2028F)
Table 38: Russia LED Lighting Market Size and Forecast By Installation Type (2017, 2022 & 2028F)

List of Figures

Figure 1: Global LED Lighting Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Product Type 2028
Figure 4: Competitive Dashboard of top 5 players, 2022
Figure 5: Market Share insights of key players, 2022
Figure 6: Porter's Five Forces of Global LED Lighting Market
Figure 7: Global LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 8: Global LED Lighting Market Share By Region (2022)
Figure 9: Europe LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: Europe LED Lighting Market Share By Country (2022)
Figure 11: Germany LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 12: UK LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: France LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 14: Italy LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 15: Spain LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 16: Russia LED Lighting Market Size By Value (2017, 2022 & 2028F) (in USD Billion)

Feed Phosphate Market Research FAQs

On a regional level, the market has been classified into Germany, United Kingdom, France, Italy, Spain, and Others, where Germany currently dominates the Europe LED lighting market.

Some of the major players in the Europe LED lighting market include 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.

One disadvantage of LEDs is the high initial cost per bulb. Over time, however, LED lights will pay for themselves through energy savings and incredibly long lifespans.

Condensed fluorescent light (CFL) bulbs are the biggest competitor to LED lighting and LED light bulbs. However, theses bulbs have some setbacks.

Some people who have used LED bulbs have noticed that they are usually whiter and brighter than regular incandescent light bulbs. As such, some people feel that these LED bulbs make their home feel like a hospital operating room or a chemical laboratory. People are accustomed to warmer light.
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Europe LED Lighting Market Outlook, 2028

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