The Europe Electric Lighting Equipment Market should witness market growth of 6.8% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 111.9 million units, showcasing a growth of 3.8% (2019-2022).
Electric lighting equipment is also projected to profit from the technological progress of lighting equipment throughout the forecast period and is likely to offer a market expansion opportunity. In addition, there is a growing understanding of the impact of illumination on health and well-being, driving the demand for lighting options that can improve health outcomes. For instance, lighting solutions that simulate natural daylight can aid in regulating sleep-wake cycles and boosting productivity.
These lighting solutions also reduce glare and can help to minimize eye strain and headaches. Additionally, the market is showing potential due to a rise in the demand for personalized lighting solutions. As consumers show a greater interest in lighting options that are specifically tailored to satisfy their needs and preferences, manufacturers of electric lighting equipment have the potential to create more individualized lighting solutions. Human-centric lighting solutions can increase productivity, safety, and concentration in work or learning contexts.
Europe is the leader in developing safety and uniform performance standards for specific indoor commercial smart lighting for garages, roadways, and parking. Existing manufacturers are extending their product portfolio to enter the market, while established smart lighting manufacturers regularly upgrade their product offers. Modern urban living is being disrupted by technology, which has the potential to raise living standards. With all this, the adoption of lighting control systems would also surge in areas amid smart city concepts. As a result of the expansion of smart city projects and the urbanization of this region, the market will expand in the coming years.
The Germany market dominated the Europe Electric Lighting Equipment Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10.3 billion by 2030. The UK market is anticipated to grow at a CAGR of 5.9% during (2023-2030). Additionally, The France market should witness a CAGR of 7.6% during (2023-2030).
Based on Type, the market is segmented into General Lighting, Automotive Lighting and Back Lighting. Based on Sales Channel, the market is segmented into Offline and Online. Based on Application, the market is segmented into Residential, Commercial and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hubbell Incorporated, Eaton Corporation PLC, Stanley Electric Co. Ltd., Acuity Brands Lighting, Inc., ams-OSRAM AG, Savant Systems, Inc., Toshiba Corporation, Nichia Corporation, Everlight Electronics Co., Ltd., and Signify N.V.
Electric lighting equipment is also projected to profit from the technological progress of lighting equipment throughout the forecast period and is likely to offer a market expansion opportunity. In addition, there is a growing understanding of the impact of illumination on health and well-being, driving the demand for lighting options that can improve health outcomes. For instance, lighting solutions that simulate natural daylight can aid in regulating sleep-wake cycles and boosting productivity.
These lighting solutions also reduce glare and can help to minimize eye strain and headaches. Additionally, the market is showing potential due to a rise in the demand for personalized lighting solutions. As consumers show a greater interest in lighting options that are specifically tailored to satisfy their needs and preferences, manufacturers of electric lighting equipment have the potential to create more individualized lighting solutions. Human-centric lighting solutions can increase productivity, safety, and concentration in work or learning contexts.
Europe is the leader in developing safety and uniform performance standards for specific indoor commercial smart lighting for garages, roadways, and parking. Existing manufacturers are extending their product portfolio to enter the market, while established smart lighting manufacturers regularly upgrade their product offers. Modern urban living is being disrupted by technology, which has the potential to raise living standards. With all this, the adoption of lighting control systems would also surge in areas amid smart city concepts. As a result of the expansion of smart city projects and the urbanization of this region, the market will expand in the coming years.
The Germany market dominated the Europe Electric Lighting Equipment Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10.3 billion by 2030. The UK market is anticipated to grow at a CAGR of 5.9% during (2023-2030). Additionally, The France market should witness a CAGR of 7.6% during (2023-2030).
Based on Type, the market is segmented into General Lighting, Automotive Lighting and Back Lighting. Based on Sales Channel, the market is segmented into Offline and Online. Based on Application, the market is segmented into Residential, Commercial and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hubbell Incorporated, Eaton Corporation PLC, Stanley Electric Co. Ltd., Acuity Brands Lighting, Inc., ams-OSRAM AG, Savant Systems, Inc., Toshiba Corporation, Nichia Corporation, Everlight Electronics Co., Ltd., and Signify N.V.
Scope of the Study
By Type (Volume, Million Units, USD Million, 2019-2030)
- General Lighting
- Automotive Lighting
- Back Lighting
By Sales Channel (Volume, Million Units, USD Million, 2019-2030)
- Offline
- Online
By Application (Volume, Million Units, USD Million, 2019-2030)
- Residential
- Commercial
- Others
By Country (Volume, Million Units, USD Million, 2019-2030)
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Hubbell Incorporated
- Eaton Corporation PLC
- Stanley Electric Co. Ltd.
- Acuity Brands Lighting, Inc.
- ams-OSRAM AG
- Savant Systems, Inc.
- Toshiba Corporation
- Nichia Corporation
- Everlight Electronics Co., Ltd.
- Signify N.V.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Europe Electric Lighting Equipment Market by Type
Chapter 6. Europe Electric Lighting Equipment Market by Sales Channel
Chapter 7. Europe Electric Lighting Equipment Market by Application
Chapter 8. Europe Electric Lighting Equipment Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Hubbell Incorporated
- Eaton Corporation PLC
- Stanley Electric Co. Ltd.
- Acuity Brands Lighting, Inc.
- ams-OSRAM AG
- Savant Systems, Inc.
- Toshiba Corporation
- Nichia Corporation
- Everlight Electronics Co., Ltd.
- Signify N.V.
Methodology
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