Italy LED Lighting Market Overview, 2028

One of Europe's biggest markets for lighting in Italy. Italian lighting goods can be either ornamental or technological, and they can be used inside or outdoors. Italy's national economy is driven by the lighting industry, which also contributes significantly to exports. Although the value of manufacturing has increased in recent years, it must nevertheless take into account a rapidly changing consumer market that is becoming more cost-conscious and environmentally conscious, as well as regulations that are always changing. Italian businesses' offerings must thus be able to foresee and handle these changes and adjust both manufacturing and marketing to a rising emphasis on LEDs and smart lighting. The light-emitting diode (LED) is a semiconductor device that produces non-coherent, narrow-spectrum light when powered by electricity. LED-based lighting is preferred to conventional lighting technologies because it uses less energy, has a longer lifespan, and costs less to operate. The transformation of the lighting business to solid-state lighting and LED sources has made Europe one of the most imaginative lighting markets in the world. According to the research report “Italy LED LightMarket Overview, 2028," published by Bonafide Research, the market will grow by USD 1.50 Billion in the upcoming period, 2022–2028. The luminaires segment dominated overall Spain LED light market share in 2022 and is expected to remain dominant during the forecast period. ASSIL, the National Association of Lighting Manufacturers, unites companies producing LEDs, light sources, and electrical components for lighting on the Italian market, its member firms represented an industry with a global turnover of USD 3.11 Billion. ASSIL comprises over 80 producers of LED, light sources, and electrical lighting components. By assuming that the income reported by ASSIL accounts for more than 65% of the sector's overall Italian lighting industry turnover, we may project that the worldwide national lighting revenue in 2020 will be USD 4,78 Billion. It should be mentioned that in 2014, the Italian lighting industry's global sales were projected to have totaled USD 4,47 Billion. The three-day Italian lighting exhibition is hosted by the Consortium Tecnoimprese exhibition company, once a year, with the support of the local government, as well as the Italian Electronics Association and the Italian Lighting Association, as Italy‘s only and most professional international electronic lighting Exhibition, exhibition scale is increasing year by year. The Italian International Electronic Lighting Show in the last product quality, design novel, set technology, innovation, and design in one, can be described as Italy LED lighting, home intelligent lighting technology milestone development, and for the next expansion of the exhibits category, Display lighting new technology laid the foundation. Italy does not produce enough LED lights domestically to cover the demand, which has increased in recent years and is expected to grow more. Therefore, the country must import energy-efficient lighting, as well as intelligent control systems including hardware and software, since the domestic industry is underdeveloped. According to World Bank Data, Italy had a population of 59,109,668 in 2021, with a gender ratio of 49% males to 51.3% women. There is potential in both the residential and commercial sectors, which bodes well for the future of the smart lighting industry in Italy. The expansion of smart cities, rising wireless technology usage, and raising awareness of energy conservation are the main growth factors for this industry. The market for light-emitting diodes (LEDs) is anticipated to continue to develop at the greatest rate over the projected period. Declining LED costs, ease of maintenance, and high energy efficiency are anticipated to drive this segment's growth. Some LED lighting stores in Italy include PUK ITALY GROUP LTD, LLD LIGHT SRL, Led Italy Srl, Illuminazione LED GOLED, Linea Light Srl, Lanzini Illuminazione, Tre D Italy S.r.l, LED lights PLG, L&S Italia, AEC Illuminazione, Novalux srl. The decrease in lighting costs is a key factor in the market's expansion in Italy. The price erosion is the cause of their expanding use in a variety of settings, such as illumination for homes, businesses, and factories. These are just a few of the brands that Gineico Lighting work with that are at the forefront of Italian lighting design: Luciferos, Fabbian, Antonangeli, Fontana Arte, Krea Design, Melogranoblu, Buzzi & Buzzi, VeniceM, InEs Art Lighting, Quicklighting, and Gineico Marine. Covid19 impact on the LED light Market The COVID-19 pandemic has and will undoubtedly continue to have an impact on the worldwide lighting industry. Due to the governments' tight lockdown policies, residential construction has been delayed in countries like China and India. The disruption in the supply of electrical components from China is another impact of the pandemic on the LED lighting industry. The lack of raw materials required for the production of light casings, chips, and other components has also had an impact on supply and demand in the lighting industry. It is projected that throughout the shutdown, the market will expand unabatedly. The pandemic has also influenced growth since early closures in the commercial sector and industries like the automotive and retail were a result. Considered in this report • Geography: Italy • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Italy LED Light market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Lamps : • A-Type • T-type • Others (Can LED light bulbs, Flood LED light bulbs, Track LED light bulbs, Tube LED light bulbs, Etc.) • Luminaries : • Downlighting • Decorative • Directional • Others By Application: • Indoor • Outdoor By Sales Channel: • Retail/ Wholesale • Direct Sale • E-commerce By Installation Type: • New • Retrofit The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the LED Lighting industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.