United Kingdom (UK) LED Lighting Market Overview, 2028

United Kingdom (UK) LED Lighting Market Overview, 2028

Actual Market Research 31-12-2022 63 Pages Figures : 6 Tables : 13 Region : Europe Country : United Kingdom Category : Energy & Utility Lighting & Luminaires

During the projected period, the United Kingdom LED lighting market is anticipated to expand significantly. Since LED lights have so many benefits, including a longer lifespan, lower heat output, and a very intense and dazzling nature, the demand for them has skyrocketed in the United Kingdom. Energy-efficient lights are becoming more and more necessary in commercial and residential settings to offer sufficient illumination for improved working and living conditions, presenting an attractive potential for the LED lighting industry. Since LED lighting is so energy-efficient, switching over to it can result in significant cost savings, which is anticipated to have an impact on the market's expansion. In the UK, government programs to encourage the use of emission-free and energy-efficient systems are creating a strong demand for the installation of LED lights since they are durable and environmentally beneficial. Additionally, the enforcement of energy-efficient legislation is assisting in reducing the sales of halogen and incandescent lights. Market participants are pouring a lot of money into expanding the spectrum and enhancing the production and quality of LED lights to modernize the current technological infrastructure. According to the research report “UK LED LightMarket Overview, 2028," published by Bonafide Research, the market will grow by USD 2.06 Billion in the upcoming period, 2022–2028. The luminaires segment dominated the overall UK LED light market share in 2022 and is expected to remain dominant during the forecast period. The luminaires market is more reliant on the levels of new build and refurbishment activity, particularly in the non-domestic sector. Luminaire market growth has been underpinned by investment in street lighting, rising levels of house completions as well as improvements in construction output for both the domestic and non-domestic sectors. In addition to outlining some of the lighting-design components of the solid-state lighting project, Future Designs has announced the creation of unique LED luminaires that will be used in many of the stations for the new Crossrail transit line in London, UK. The Rotolight NEO3 and AEOS 2 have arrived to revolutionize LED lighting for all creatives after being introduced through a record-breaking Kickstarter campaign. According to a market study done in the UK, 25% of consumers seek online recommendations before purchasing lighting items, and more than half of them replace their lighting fixtures due to energy efficiency. This consumer's propensity for seeking assistance will enhance demand for energy-efficient lighting items like LED lighting technologies, which will in turn foster the market's expansion. The demand for LED lighting has been on the rise since incandescent lighting was banned in 2009. Within the years 2008 to 2011, the demand for LED lighting nearly tripled, and it is anticipated to increase by 20% in the upcoming period. The market share of LED lighting is anticipated to grow significantly over the next few years in contrast to other lighting kinds. The UK lighting market will grow as a result of its rising demand. The launch of government initiatives in the United Kingdom such as the Green House Grant Scheme and the mission to achieve the 2050 emission target is promoting the need for a green building investment plan. Integration of intelligent technology within the infrastructure and the presence of a facility to control lighting along with electrical devices is expected to lower running costs and offers the advantage of remote monitoring and control. Due to the adoption of LED lighting, the improved building energy efficiency is expected to tackle prevailing energy problems and subsequently cut down the electricity bills and put less pressure on the existing infrastructure. Also, with the increasing demand for smart buildings which use emerging technology comprising of the internet of things, sensors, software, and the option for online connectivity to monitor and provide insightful solutions for achieving higher energy efficiency which in turn is expected to propel the growth of the LED lighting market till 2028. The market for LED lighting in the United Kingdom is divided into segments based on type, application, installation style, end user, distribution method, regional distribution, and firm. Outdoor lighting and interior lighting are two more market divisions that may be made based on application. For the anticipated time, a significant market share is anticipated to belong to the interior lighting sector. Energy-efficient LED lighting must be installed to support on-going infrastructure work and forthcoming development projects. The UK's high demand for interior lighting and consumers' rising purchasing power are fuelling the expansion of this market. Since LED lighting currently accounts for over 45% of the global lighting industry, it will continue to rise. Ceiling and wall lighting fixtures now have a higher export value. Additionally, it will help the UK lighting market expand. The newest energy-efficient lighting technologies, such as occupancy sensors, smart automated lighting controls, etc., are opening up prospects for the UK lighting market to expand. For instance, an occupancy-based lighting system reduces lighting energy use by about 24% on average. It will help the government achieve its goal of reducing greenhouse gas emissions by reducing the construction of power plants and the generation of CO2, which is made possible by lighting technology's cost-effectiveness due to its lower energy usage. The demand for LED lighting is also being driven by this cost-effectiveness. Only incandescent bulbs, which are used for approximately three hours every day, have a lifetime of 2000 hours. The lifespan of an LED bulb is roughly 25,000 hours. The lifespan of LED lights is significantly longer in comparison. As a result, replacement LED bulb sales will suffer, which might impede the market's expansion. Some major companies operating in the UK LED lighting market include, among others, Philips Lighting UK, General Electric Company, Bamford Lighting, EGLO UK, Lite plan Limited, Dextra Lighting Ltd, Signify Commercial UK Ltd, FW Thorpe plc, Thorn Lighting Ltd, Crompton Lamps Limited, Maclean Electrical Group, and Eaton Corporation Plc. To be competitive in the market, major corporations are creating cutting-edge technology and introducing new services. The creation of new services and mergers and acquisitions are two other competitive tactics. Covid19 impact on the LED Light Market The COVID-19 epidemic has had a significant negative impact on nearly every area of the global economy, particularly the hotel industry. Because China, which is also the source of this epidemic, is a major supplier of both finished electronic goods and raw materials, it has had a significant impact on the market for electronic gadgets. Price changes, supply interruptions, and output losses affected the whole industrial sector. Although these difficulties could spur local manufacturers in the UK to advance their enterprises and processes, the scarcity of essential raw materials is a significant barrier. The market began to expand after the covid 19. Considered in this report • Geography: UK • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • UK 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.

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