Europe LED Lighting Market Report, Forecast To 2024

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Europe LED Lighting Market Size to exceed 30bn
by 2024 growing at CAGR of 18
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Key Insights from Europe LED Lighting Market

• Europe LED lighting market is anticipated to grow
  over the forecast timeframe due to the factors
  such as increasing demand for energy efficient
  lighting solutions, need to cut-down electricity
  related costs, high disposable income, rising
  investments in infrastructure which include
  roadways, construction of new offices,
  residential complexes, parks, hotels, etc. among
  others.
• The market is majorly driven by the new
  installations which holds a revenue share of over
  65 in 2017. The government has launched several
  smart city initiatives across the region for
  deploying smart lighting solutions in the indoor
  and outdoor spaces. Furthermore, increasing
  adoption of the LED lamps in the region also
  foster the market growth. The need for
  energy-efficient lighting systems has increased
  significantly over the past decade to reduce
  energy consumption and improve energy security
  among the developed and the developing countries
  alike.

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Continued
Elderly care homes and healthcare facilities are
the emerging segments in the Europe LED lighting
market owing to the development of
patient-centric facilities and the focus on
providing the residents comfort security. To
keep elderly home residents in a secure
atmosphere and to maintain their health, the care
centers are adopting facility transformation
initiatives that include the replacement of
conventional lighting systems with the innovative
LED technologies. These lighting units improve
the residents moods and provide appropriate
illumination brightness that will support the
eyesight of the elderly people. The recently
developed LED lights are not compatible with the
traditional switching boards fixed across
residences, offices, buildings, etc., due to the
changes in circuitry designs challenging the
European LED lighting market growth. The
incompatibility issues result in increasing the
possibilities for changing the entire switch
systems, increasing the deployment cost of
consumers. LED bulbs are developed to generate a
lesser amount of heat as compared to the
conventional products. Fixing these bulbs in old
enclosed light fittings increases the heat
amount and results in failures.
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Germany Europe LED Lighting Market Size, by
End-Use, 2017 2024 (USD Million)

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Major Companies in Europe LED Lighting Market

• Acuity Brands Inc.
• Cooper Industries Inc.
• Endo Lighting Corporation
• General Electric Company
• Hubbell Incorporated
• OPPLE Lighting Co.Ltd.
• OSRAM Opto Semiconductors GmbH
• Philips Lighting Holding B.V.
• GreenStar Products Inc.
• The Zumtobel Group AG

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Industry Coverage

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Regional Insights in Europe LED Lighting Market

• Increasing instances of night light emissions
  that include unequal brightness in different
  areas under the traditional lights are leading to
  the replacement trend in the Germany LED lighting
  market. According to a study in Germany, the
  growing night-light emissions create different
  lighting atmospheres in different places and
  changes in the outdoor lighting systems. To
  reduce the impacts of such emissions, the outdoor
  lighting in several regions has been replaced by
  LEDs. Moreover, the advancements in industry
  verticals, such as automotive, hospitality,
  commercial, and manufacturing sectors, are
  creating chances for the transformation of
  lighting systems. The cost-saving benefits
  associated with LEDs account for the deployment
  of such systems in newly-developed projects.
  Moreover, the provision of LED products by
  leading industry players through their online and
  retail sales channels is driving the Europe LED
  lighting market growth.

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