The Europe Industrial and Commercial LED Lighting Market would witness market growth of 17.1% CAGR during the forecast period (2022-2028).
The brightness of LED lights sets them apart from conventional lights and makes them better suited for commercial real estate projects. They produce strong illumination and ideal visibility owing to their capability to shine brighter than regular light bulbs, two elements that are very important in places used for both indoor and outdoor activities.
They are a sensible lighting option for business settings where it is important to save maintenance expenses while guaranteeing that commercial buildings like warehouses & manufacturing facilities are adequately lighted. For commercial real estate assets, using LED lighting technology can be advantageous in a number of ways.
It is not unexpected that commercial usage of LED lighting has grown to be such a significant trend in contemporary facilities given the significant energy savings as well as the multiple environmental and health advantages. The eyes will not tire as quickly from LED lighting's lack of glare. As a result, business owners would discover that it boosts employee happiness and workplace efficiency. Additionally, the increased visibility provided by these lights' improved precision enhances worker safety.
Due to the region's increasing adoption of smart lighting to save energy and reduce energy costs, which is spurring market revenue development, Europe is boosting the usage of smart commercial lighting solutions. The region's first connected city lighting system with multi-level intelligent control, which utilizes a GIS-based management system to link street lamps to the Internet of Things and gives cities control over each lamp's performance, has enhanced requirement for smart commercial lighting solutions.
The Germany market dominated the Europe Industrial and Commercial LED Lighting Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,730.3 million by 2028.The UK market is experiencing a CAGR of 16.1% during (2022 - 2028). Additionally, The France market would display a CAGR of 18% during (2022 - 2028).
Based on Product Type, the market is segmented into LED Lamps and LED Fixtures. Based on Application, the market is segmented into Indoor Lighting and Outdoor Lighting. Based on End User, the market is segmented into Commercial and Industrial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Industrial and Commercial LED Lighting Market will Hit $91.5 Billion by 2028, at a CAGR of 17.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dialight PLC, Eaton Corporation, General Electric (GE) Co., Signify N.V., AMS AG (OSRAM Licth AG), Syska LED Lights Private Limited, Toshiba Corporation, Zumtobel Group AG, Deco Lighting, Inc., and Wolfspeed, Inc.
By Product Type
By Application
By End User
By Country
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