Europe LED Lighting Market Report and Forecast 2024-2032

Europe LED Lighting Market Outlook

The Europe LED lighting market size was nearly USD 20.03 billion in 2023. The market is estimated to grow at a CAGR of 9.2% during 2024-2032, to reach around USD 44.42 billion by 2032.

Key Trends in the Market

LED (light-emitting diode) lighting is one of the most energy-efficient and eco-friendly lighting technologies. It consumes less energy to generate the same amount of light as compared to other types of lighting such as linear fluorescent lighting and circadian rhythm electric lights. There are different types of LED lighting, including alphanumeric LEDs, LED strips, colour LEDs, and flash LEDs, among others.

• The lifespan of LED lighting solutions is superior to other lighting types such as incandescent, fluorescent, and low-pressure sodium vapour (LPS). LEDs can generally last for about 50,000 to 100,000 hours, whereas an average incandescent bulb only lasts up to 1,000 hours. This, coupled with their energy efficiency, low maintenance, and high-quality radiation, is supporting the Europe LED lighting market demand.

• Governments and organisations in Europe are actively introducing various initiatives to promote energy efficiency and sustainability, become carbon neutral, and reduce greenhouse gas emissions. For instance, in September 2021, the energy labelling and ecodesign regulations, adopted by the EU in 2019, came into effect. The regulations aimed to save 7 million tons of CO2 emissions by 2030 and ban halogen and fluorescent bulbs while promoting energy-efficient technologies like LED.

• The Europe LED lighting market growth can be attributed to advancements in LED technologies. Smart LED lighting systems that can be remotely controlled, provide enhanced functionality, and offer features like scheduling, customisation, and energy management, among others, are also gaining significant popularity in the country.

Increasing research activities aimed at developing innovative manufacturing techniques and materials that can enhance the versatility, durability, and energy efficiency of LED lighting are likely to favour the market growth in the forecast period.

• LED lights are eco-friendly as they are made without the use of toxic elements and ensure low heat emissions. This enables the users to mitigate their carbon footprints and promote a sustainable future. Moreover, LED lights ensure less energy wastage, they convert 95% of their energy into light with only 5% being squandered as heat.

Europe LED Lighting Market Segmentation

Based on product type, the market is bifurcated into lamps and luminaires. On the basis of application, the market is segmented into indoor and outdoor. On the basis of end use, the market is divided into commercial, industrial, and residential. The major regional markets for LED lighting in Europe include Germany, the United Kingdom, France, Italy, and others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Europe LED lighting market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Acuity Brands Inc. 

• Signify NV 

• Ams Osram AG 

• Eaton Corporation PLC 

• Savant Systems Inc. 

• Dialight plc 

• Zumtobel Group AG  

• TRILUX GmbH & Co. KG

• Opple Lighting Co. Ltd. 

• Seoul Semiconductor Co. Ltd. 

• Others

Market Share by End Use

As per the Europe LED lighting market analysis, the demand for LED lighting solutions in residential space is rising due to their durability, energy-efficiency, sustainability, and affordability as compared to conventional lighting such as Compact Fluorescent Light (CFLs). Moreover, LEDs are compact and directional, thus they are ideal for compact spaces such as kitchen counters and under-shelf lighting. As this lighting is available in various shapes and designs, it is also used to enhance the aesthetic appeal of residential spaces.

Market Share by Region

The United Kingdom accounts for a significant portion of the Europe LED lighting market share. According to the UK Department for Business, Energy and Industrial Strategy (BEIS), around 20% of the electricity generated in the UK is utilised in lighting applications and upgrading from conventional lighting to LEDs can save costs up to 80% for a business. Hence, businesses in the country are actively adopting efficient lighting options, including LEDs, to reduce their electricity consumption.

In September 2021, the UK government banned the sale of halogen light bulbs to combat climate change. Through this initiative, it aims to increase sales of LED light bulbs to 85% by 2030. Moreover, as the government aims to hit net-zero corporate carbon emissions by 2030, the demand for LED lighting with enhanced efficiency is increasing.

Competitive Landscape

Acuity Brands Inc. is an industrial energy-efficient technology company that deals in numerous brands, including Cyclone, Eureka, Pathway, and Indy™, among others. It is based in Atlanta, Georgia, with its operations across North America, Europe, and Asia.

Ams Osram AG is headquartered in Austria and operates in different industries, including automotive and mobility, lighting, computing, and medical and health, among others. It also manufactures various products in the lighting sector, including LEDs, lasers, photodetectors, sensors, lamps, and interfaces, among others.

Eaton Corporation PLC was founded in the year 1911 and is a power management company operating its business in more than 175 countries. It deals in a wide range of products, including actuators and motion control, clutches and brakes, cylinders, furniture, and golf grips, among others.

Other Europe LED lighting market players include Signify NV, Savant Systems Inc., Dialight plc, Zumtobel Group AG, TRILUX GmbH & Co. KG, Opple Lighting Co. Ltd., and Seoul Semiconductor Co. Ltd., among others.

Key Highlights of the Report

Europe LED Lighting Market Report Snapshots

Europe LED Lighting Market Size

Europe LED Lighting Market Trends

Europe LED Lighting Companies