Europe LED Lighting Market 2021-2026: Size, Growth, Outlook, Share, Key Players, Demand

According to the latest report by IMARC Group, titled “Europe LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Europe LED lighting market size reached a value of US$ 16.7 Billion in 2020. . Looking forward, IMARC Group expects the Europe LED lighting market to exhibit strong growth during 2021-2026. A light-emitting diode (LED) is a semiconductor device that is widely utilized for numerous residential, commercial and industrial purposes. It generates a non-coherent and narrow-spectrum light upon passing an electric current through it. These lighting solutions are compact in size, have a long shelf life and offer low heat output. They are also extremely reliable, facilitate fast switching and generate minimum radiation emission. Apart from this, since these lights are environment-friendly in nature and consume lesser amounts of energy, their usage can save around 90% of the overall energy. As a result, they are extensively replacing conventional lighting technologies, such as incandescent and fluorescent lights, across the European region.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Europe LED Lighting Market Trends:

The market is primarily driven by the increasing power consumption and the high energy costs in Europe. This has led to the rising demand for energy- and cost-efficient lighting solutions, which is being further facilitated by the growing environmental-consciousness among the masses. The market is further driven by the numerous favorable policy measures set by the European Union (EU) over several years. The region has gradually phased out inefficient lighting technologies, such as incandescent, directional halogen and non-directional halogen lamps, which has largely influenced the demand for LED lighting. Governments of several countries are also offering subsidies and incentives to facilitate the adoption of LED lights among the masses, thereby creating a positive outlook for the country. Some of the other factors contributing to the market growth include reducing average selling prices of LEDs, significant infrastructural growth and growing preference for smart construction in the region.

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Key Market Segmentation:

Competitive Landscape with Key Player:

• 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
  

Market Breakup by Product Type

• LED Lamps and Modules

• LED Fixtures
  

Market Breakup by Application

• Retrofit

• Retail and Hospitality

• Outdoor

• Offices

• Architectural

• Residential

• Others
  

Market Breakup by Country

• Germany

• United Kingdom

• France

• Italy

• Spain

• Others
  

Key Highlights of the Report:

• Market Performance (2015-2020)

• Market Outlook (2021- 2026)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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