Europe LED Lighting Market Report 2021-2026: Industry Trends, Share, Size, Growth, Opportunity and Forecast – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Europe LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The Europe LED lighting market reached a value of US$ 16.7 Billion in 2020. Looking forward, the Europe LED lighting market to exhibit strong growth during 2021-2026.
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.
Market Breakup by Country
- Germany
- United Kingdom
- France
- Italy
- Spain
- Others
- Germany currently represents the largest market for LED lighting in the European region.
Market Breakup by Product Type
- LED Lamps and Modules
- LED Fixtures
LED lamps and modules currently dominate the market, holding the largest share.
Market Breakup by Application
- Retrofit
- Retail and Hospitality
- Outdoor
- Offices
- Architectural
- Residential
- Others
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:
- How has the Europe LED lighting market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Europe LED lighting market?
- What is the breakup of the Europe LED lighting market based on the country?
- What is the breakup of the Europe LED lighting market based on the product type?
- What is the breakup of the Europe LED lighting market based on the application?
- What are the various stages in the value chain of the Europe LED lighting industry?
- What are the key driving factors and challenges the Europe LED lighting industry?
- What is the structure of the Europe LED lighting industry and who are the key players?
- What is the degree of competition in the Europe LED lighting industry?
For more information about this report visit https://www.researchandmarkets.com/r/b6gj3x
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