Europe LED Lighting Market to Witness Exponential Growth - An Overview

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.
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.
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.
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.
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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.
Commercial applications are gaining traction in the Europe LED lighting market due to a high implementation of the modern & stylish lighting systems in hospitality centers, commercial buildings & offices, and healthcare facilities across Europe. In commercial set-ups including offices, banks, etc., LED lights provide a better working atmosphere to employees and create mood enhancement due to the situational illumination control features. Such facilities deploy the energy-efficient technologies to save the electricity costs and incorporate wireless lighting control systems.
The hospitality segment including restaurants, hotels, recreation centers, etc., in the European LED lighting market is increasingly adopting these technologies to efficiently manage the electricity resources and provide enhanced experience to consumers. Due to the rapidly-developing tourism sector in Europe and the demand for luxurious hospitality facilities by consumers & tourists, the hotel & restaurant owners are focusing on transforming their facilities with luxurious interiors, advanced lighting technology, and better services.
The LED lighting market in Europe is competitive owing to the presence of several players providing highly efficient and advanced LED technologies for various applications. The players are offering differentiated and application-specific products for several industries such as residential, commercial, hospitality, government, institutional, etc. Moreover, the companies have developed a strong distribution network across the European Union to address the requirements of local markets and household units.
The players operating in the Europe LED lighting market comprise 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, etc.