The Europe Energy Efficient Lighting Market would witness market growth of 7.8% CAGR during the forecast period (2022-2028).
External lighting, indoor lighting for residential buildings, and internal lighting for commercial buildings can all benefit from these energy-saving strategies. These programs not only lower energy consumption, but also improve lighting quality, improve safety and employee well-being, and reduce environmental impacts.
By replacing high power consumption lights such as incandescent, high discharge lamps, and so on with energy efficient lighting, more light may be produced from fewer lights. GPRS, GSM, and SCADA are just a few of the control technologies that employ this technology. Low-wattage lighting accessories, such as electronic ballasts and fixtures, are also being used to replace high-wattage lighting accessories. Traditional lighting (such as incandescent bulbs) is being replaced with energy efficient lighting (such as fluorescent lamps, CFL lighting, and LED lamps).
Lighting systems that have undergone technological improvements provide not only energy efficiency but also other advantages such as light ambiance and warmth. Additionally, these lighting systems improve the aesthetic appeal of the home while lowering the need for artificial heating and cooling, increasing product demand.
As part of the UK's larger efforts to combat climate change, the government stated on June 9, 2021, that the sale of halogen light bulbs will be phased out beginning in September. Fluorescent lights will be removed from shelves in September 2023, according to legislation introduced this month. Around two-thirds of bulbs sold in the United Kingdom are LED lights, which has had a significant impact on the country's building energy efficiency. They last 5 times longer and generate the same amount of light as typical halogen lightbulbs while using up to 80% less energy.
Higher-energy halogen lightbulbs were phased out of the UK market in 2018. From September 1, stores in the UK will be unable to sell the majority of halogen bulbs for regular household use due to the new legislation. To assist individuals in making the changeover, authorities have announced that all light bulbs would begin to have updated energy saving recommendations on their boxes via 'rescaled' energy labeling. The labels will replace the A+, A++, and A+++ designations with a new A-G scale that will simplify the way energy efficiency is displayed. The new labeling will raise the threshold for each class, ensuring that only a small percentage of bulbs are classed as A, allowing consumers to choose the most ecologically beneficial bulbs.
The Germany market dominated the Europe Energy Efficient Lighting Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,684.1 Million by 2028. The UK market is poised to grow at a CAGR of 6.9% during (2022 - 2028). Additionally, The France market would display a CAGR of 8.6% during (2022 - 2028).
Based on Type, the market is segmented into Light Emitting Diodes (LED), Linear Fluorescent Lamps (LFL), High-Intensity Discharge Lamps (HID) and Others. Based on Application, the market is segmented into Commercial, Industrial, and Home. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The North America Energy Efficient Lighting Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028). The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ams-OSRAM AG, Signify N.V., Savant Systems, Inc., Toshiba Corporation, ABB Group, Schneider Electric SE, Advanced Lighting Technologies Australia, Inc., Nichia Corporation, Bridgelux, Inc., and Digital Lumens, Inc. By Type By Application By CountryScope of the Study
Market Segments Covered in the Report:
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