Europe LED Lighting Market has a significant Growth in Future | Acuity Brands, Cree, Dialight, GE, Hubbell Incorporated, Opple Lighting, Panasonic, Philips Lighting, Samsung Electronics, Sharp Electronics Corporation USA

Deployment of LED products in retrofit installations is a rapidly emerging trend across the Europe LED lighting market due to the low CO2 emissions benefits. Increasing infrastructure transformation projects going on in the European Union involves the transition of traditional halogen-based lighting systems. This factor along with electricity cost saving advantages is a major reason contributing to the growing demand for LED lamps and luminaires in the retrofit settings further contributing to the Europe LED lighting market growth. Moreover, the public infrastructure development and high investment in the LED-based street lighting projects also undergoes the replacement of conventional lamps & lights to LEDs.

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Luminaire products are gaining demand due to their capabilities to be incorporated with the smart lighting control systems. The recently developed luminaires offer human centric lighting capabilities that are gaining high popularity in the healthcare and elderly care homes developing the Europe LED lighting market. Additionally, the implementation of modern interiors in hotels, restaurants, and offices that have the luxurious and sophisticated designs creates need for efficient luminaires. The government incentives and initiatives to utilize low energy consuming and cost-effective lights in Europe is contributing to the demand for LED luminaires. All these factors along with cost saving benefits drive the Europe LED lighting market expansion.

The key players covered in this study: -

1. Acuity Brands
2. Cooper Industries, Inc.
3. Cree
4. Dialight
5. ENDO Lighting Corporation
6. Shanghai Feilo Acoustics Co., Ltd.
7. GE
8. Hubbell Incorporated
9. Iwasaki Electric Co Ltd
10. LG Innotek
11. Nichia Corporation
12. Ocean's King Lighting Science & Technology Co., Ltd
13. Opple Lighting
14. OSRAM Opto Semiconductors GmbH
15. Panasonic
16. Philips Lighting
17. Samsung Electronics
18. Seoul Semiconductor
19. Sharp Electronics Corporation USA
20. GreenStar LED Products, Inc
21. Virtual Extension

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The Europe LED lighting market is also fueled by new installations where consumers, spurred by greater energy cost savings, are replacing their conventional lighting solutions. Indeed, new installations, which accounted for a revenue share of approximately 65% of the industry share according to a 2017 estimate, would be witnessing sizable gains over 2018-2024, attributed to the EU’s ban on the distribution & sale of conventional one-directional halogen lamps.

Residential LED lighting application is experiencing substantial growth in the European Union due to the awareness created by government among the residential segment in the Europe LED lighting market. The steps taken by government agencies to promote the deployment & utilization of energy efficiency lights in household, apartments, hostels, etc. is compelling the European citizens to use LEDs. The EU energy policy and initiative to reduce climatic changes such as increased global warming, CO2 emissions, etc. creates awareness among the European households & promotes LED utilization. The construction of new households, apartment buildings, etc. with modern & intelligent facilities incur the need for more lights per home and further add up to the demand for products in the Europe LED lighting market.

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Clearly, all the above trends are playing a crucial role in the development of Europe LED lighting market, which is certain to proliferate the profitability quotient of this business sphere. A presumption validating the same is of Global Market Insights, Inc., that claims the Europe LED lighting to surpass a remuneration portfolio of USD 30 billion by 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
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This release was published on openPR.