Press release
Europe LED Lighting Market to Hit USD 32.57 Billion by 2030, Growing at an 8.83% CAGR
Europe LED Lighting Market
August 14, 2024 - The Europe LED Lighting market size was valued at USD 18.012 Bn. in 2023 and is expected to reach USD 32.57 Bn. by 2030, at a CAGR of 8.83%.
Europe LED Lighting Market Overview:
LED lights are cutting-edge lighting options that make use of light-emitting diodes, which are long-lasting and energy-efficient. The creation, marketing, and use of various lighting goods throughout European nations are all included in the Europe LED lighting market.
The European LED lighting market is seeing strong demand owing to technological advancements and energy-efficiency-related legislation. Part of a broader trend toward smart and sustainable technology is the increasing inclination away from traditional lighting sources and toward LED alternatives. This would lower maintenance expenses for the household and commercial sectors in addition to enabling increased energy savings.
๐๐ง๐ฅ๐จ๐๐ค ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ฎ๐ซ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:https://www.stellarmr.com/report/req_sample/europe-led-lighting-market/2340
What are Europe LED Lighting Market Dynamics?
The current trend driving the expansion of the LED lighting market in Europe is smart technologies.
The LED lighting industry in Europe is evolving due to numerous noteworthy trends that are being seen. As demonstrated by Signify N.V.'s 2022 introduction of the Philips Hue smart lighting line, which offers improved control and customization through smart devices, integration with smart technologies is a significant trend. The trend towards smarter and more energy-efficient lighting solutions is further shown by recent inventions like Signify's WiZ smart lighting system and the energy-efficient MASTER LEDtube UE, which was debuted in 2023. The market for LED lighting in Europe will also be impacted by the growing use of energy-efficient technologies.
The European Union's decision to phase out inefficient lighting by 2023 has expedited this. This kind of regulatory push has expedited the adoption of LEDs in both residential and business settings. Additional factors propelling the growth of the European LED Lighting Market include advancements in LED technology, which result in enhanced color rendering and efficiency. For instance, Osram Licht AG introduced new LED chips in 2023 that had a 30% greater energy efficiency than the model that came before it. These developments improve product functioning, expand application possibilities, and spur market expansion.
What is Europe LED Lighting Market Regional Insight?
Germany is the leading nation in the European LED lighting industry, accounting for the greatest part of the market because of its strong focus on environmental sustainability and energy efficiency. The need for cutting-edge LED lighting solutions is fueled by the country's thriving industrial and technical sectors. The use of LED technology is also supported by Germany's strict energy consumption restrictions and strong environment policy.
France and the United Kingdom are other big competitors in the market, in addition to Germany. The UK gains from its vast distribution networks and creative approaches to smart lighting, while France's emphasis on energy-efficient construction regulations fosters the expansion of LED lighting.
What is Europe LED Lighting Market Segmentation?
By Product Type
Lamps
Luminaries
By Installation Type
New Installation
Retrofit Installation
By Distribution Channel
online Store
Offline Store
By Application
Indoor Lighting
Outdoor Lighting
By End-use
Residential
Commercial
Industrial
Others
๐ ๐๐๐ ๐๐๐ญ ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ! @https://www.stellarmr.com/report/req_sample/europe-led-lighting-market/2340
Some of the current players in the Europe LED Lighting Market are:
Philips Lighting (Signify N.V.)
Osram Licht AG
Zumtobel Group AG
Trilux GmbH & Co. KG
Schneider Electric
Heraeus Noblelight
HELLA GmbH & Co. KGaA
๐ ๐จ๐ซ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐๐ก๐ข๐ฌ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฅ๐๐๐ฌ๐ ๐๐ข๐ฌ๐ข๐ญ:https://www.stellarmr.com/report/europe-led-lighting-market/2340
Key Questions answered in the Europe LED Lighting Market Report are:
Which region held the largest Europe LED Lighting Market share in the Europe LED Lighting Market?
What is the expected Europe LED Lighting Europe LED Lighting Market size by 2030?
Which factors are the opportunities for the Europe LED Lighting Europe LED Lighting Market growth?
What are investment opportunities for the Europe LED Lighting Europe LED Lighting Market?
What are the recent industry trends that were implemented to generate additional revenue streams for the Europe LED Lighting Market?
Which segment dominates the Europe LED Lighting Market?
Key Offerings:
Past Market Size and Competitive Landscape
Europe LED Lighting Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Europe LED Lighting Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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