Europe LED Lighting Market Size, Share, Trends Analysis Report 2020-2027

Europe LED Lighting Market Size, Share, Trends Analysis Report 2020-2027

Europe LED Lighting Market By Type (Lamp, Luminaire), By Application (Indoor, Outdoor), By End-Use (Residential, Commercial, Industrial, Government, Others), By Region, Segmental Trends Analysis Report 2020-2027

Europe LED Lighting Market Trends Analysis

The Europe LED lighting market was valued at USD 5,227.3 million in 2019 and it is expected to witness a growth rate at a cagr of 11.3% over the forecast period. The covid-19 had created a substantial impact on the European LED lighting industry, most of the manufacturing facilities in countries such as the Netherland and Germany were shutdown which adversely impacted the overall demand and supply chain. The government is expected to support the lighting industry by offering some economic package for the manufacturers, to improve the economical balance in the region. 

The European region has one of the strictest regulatory policies related to the lighting sector, the governments have formed various regulations and have started many promotional programs to increase the adoption of energy-efficient lighting such as LED in the region. Many private sector companies are also launching various schemes and subsidies to attract commercial and industrial customers. The rebate policy has significantly helped the lighting industry to transform from traditional lighting sources such as incandescent and CFL to highly advanced LED lightings.

The substantial growth in the construction industry in the recent few years has positively benefited the growth of the LED lighting market in Europe. The industrial and commercial LED lighting market in Europe witnessed the highest growth rate of over19% between 2017 to 2019. However, due to the covid-19 pandemic, the overall growth rate of the regional market has decreased to 11.3% from the previous estimate of 18.5%.

The LED lightings are a highly advanced lighting technology that offers many benefits compared to traditional lighting sources such as incandescent and CFL lamps. The key advantage of using LED light is very low power consumption, it is assumed that the LED lamp has a shelf life of 50,000 hours, which is equivalent to 18 incandescent bulbs. Therefore LED lights are economic, power-efficient, less heat-producing, and provide better brightness with its cool daylight.

Segmental Trends Analysis & Forecast

  • Product Segment:  the European LED lighting market can be segregated based on the product type into lamps and luminaires. The Luminaire segment is anticipated to witness the fastest growth rate over the forecast period owing to increasing demand from the commercial and industrial sectors. The prices of LED lamps in the European region have decreased notably in the last decade, mainly due to technological innovation in the LED lighting manufacturing process. Therefore the adoption of LED lamps in Europe has witnessed a sudden growth post the year 2014. Growing awareness about solid-state lighting (SSL) among citizens of the European region and increasing demand for energy-efficient Technologies is anticipated to boost the demand for LED lamps in the upcoming few years in the region.
  • Application Segment:  European LED lighting market can be segmented based on the application type into indoor and outdoor segments. The indoor segment accounted for the largest Market share in 2019, considering the high demand for LED lamps from the residential segment. However the outdoor LED lighting market is anticipated to grow at the fastest growth rate between 2020 to 2027, the growth can be attributed to stringent government regulation for industrial lighting, increasing demand for public place safety & security and, growing construction of commercial complexes in the region. The European government street light replacement project is expected to further boost the demand for outdoor LED lighting market in Europe.
  • End-Use Segment: Based on the end-use, the European LED lighting market has been segregated into residential, commercial, and industrial segments. The commercial and industrial lighting segment is witnessing a high growth rate for the last few years, the growth can be attributed to stringent government regulation for improving safety at the workplace.
    The residential lighting market accounted for greater than 40% market share in 2019, growing urbanization and increasing construction of residential buildings is expected to boost the demand for residential is LED lighting in the European region.
  • Country Segment: Among various European countries, the Netherland and Germany are the largest manufacturers of LED lightings, these countries have the presence of prominent LED lighting manufacturers such as Philips Lighting and Osram. These country’s export their lighting products throughout the world. The UK Government Energy Efficiency program has substantially increased the adoption of the LED lighting market in the UK, the government is offering various rebate and tariff programs for replacement of existing traditional light sources with the LED lamps, the government has collaborated with various electricity providers for implementation of this program.

Europe LED lighting market share analysis 2020

Europe LED lighting market is highly competitive in nature with the presence of large LED lighting manufacturers such as Philips Lighting and Osram. Europe accounts for nearly 35% of Global LED lighting export. However, In the recent few years due to the emergence of e-commerce and international shopping trends, the European LED lighting manufacturers are facing fears of competition from the Chinese LED lighting manufacturers. China is the largest exporter of LED lightings to Europe, however, the Chinese manufacturers are assumed to supply substandard quality products to the European Nations, therefore the government is planning to implement minimum quality standards for imported lighting. This step will encourage the regional lighting manufacturers and shall help to boost their sales in Europe.

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