UK LED Lighting Market to grow at Steady Rate till 2026
Increase in consumer
awareness and rise in demand for environment-friendly lighting system is expected
to drive the United Kingdom LED Lighting market in forecast period.
According to TechSci Research report, “United Kingdom LED Lighting Market By Type (LED Bulbs & Lamps, Batten Lights,
Downlights, Others) By Application (Outdoor Lighting, Indoor Lighting) By
Installation Type (New Installation and Retrofit Installation) By End User
(Commercial, Residential, Others) By Distribution Channel (Direct Sales,
Retail) By Company, By Region, Forecast & Opportunities, 2026”, The United Kingdom LED Lighting market is expected
to witness steady growth in the next five years. LED lights produce light more
efficiently than the traditional light bulbs which comprises of fluorescent and
incandescent lights. LED light emits electromagnetic energy as light after the
power supply is switched on, therefore turning the energy directly into light
without changing into heat leading to direct conversion of energy directly into
light and leaves meagre amount of energy as wastage. LED lights are highly
reliable in nature as they can operate even in colder temperatures and can
tolerate more vibrations and impact than the other light bulbs due to absence
of fragile parts in LED light bulb. LED light bulbs are highly directional in
nature which reduce the energy consumption as no light is wasted or trapped
within diffusers and reflectors. LED lights offer a wide range of color
temperature and color over incandescent light bulbs without using any kind of
gel or filters. LED lights uses actual diode which is altered to change the
color of the bulb. Rise in disposable income among the people is aiding to
increase the expenditure capacity which is leading to higher adoption of LED
lights for the forecast period.
Since the onset of pandemic COVID-19, lockdown restrictions
were imposed all over the country. Complete shutdown was observed, and people
started practicing social distancing and following the precautionary
guidelines. Imposition of strict regulations and policies by leading
authorities, which led to huge losses suffered by major industry players. Manufacturing
units were temporarily shut down and loss of availability of skilled labors led
to market decline. Construction activities were halted for COVID period, and
the economy of United Kingdom faced a huge setback. However, after the lifting
of lockdown restrictions, the companies are expected to be again operational
with lower production volume and the market is expected to pick up the pace
eventually.
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United
Kingdom LED Lighting market is segmented into type, application, installation
type, end user, distribution channel, regional distribution, and company. Based
on end user, market can be divided into commercial, residential, and others.
The commercial end user segment is expected to hold major market share for the
forecast period, 2022-2026. Continuous technological advancement is enabling
companies to launch new products which is boosting the demand for LED lighting
in commercial spaces. Rapid urbanization and surge in construction activities
for development of commercial sectors is paving the way for the growth of the
LED lighting market. Based on installation type, market can be fragmented into
new installation and retrofit installation. The retrofit installation segment
is expected to dominate the market for the next five years due to rising
replacement of incandescent lights with energy efficient light as they are
offer a longer working life and consumes lower amount of energy.
Philips
Lighting UK, General Electric Company, Bamford Lighting, EGLO UK, Liteplan
Limited, Dextra Lighting Ltd, Signify Commercial UK Ltd, FW Thorpe plc, Thorn
Lighting Ltd, Crompton Lamps Limited, Maclean Electrical Group, Eaton
Corporation Plc are the leading players operating in United Kingdom LED
Lighting market. Manufacturers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving customer
demand with respect to better efficiency and durability, several LED Lighting
manufacturers are coming up with their technologically advanced offerings.
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“Launch
of government initiatives in United Kingdom such as Green House Grant Scheme
and the mission to achieve 2050 emission target is promoting the need for green
building investment plan. Integration of intelligent technology within the
infrastructure and presence of facility to control lighting along with
electrical devices is expected to lower down the running costs and offers the advantage
of remote monitoring and control. Due to 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
uses emerging technology comprising of 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 2026” said Mr. Karan Chechi, Research Director
with TechSci Research, a global research-based management consulting firm.
“United Kingdom LED
Lighting Market By Type (LED Bulbs & Lamps, Batten Lights, Downlights,
Others) By Application (Outdoor Lighting, Indoor Lighting) By Installation Type
(New Installation and Retrofit Installation) By End User (Commercial,
Residential, Others) By Distribution Channel (Direct Sales, Retail) By Company,
By Region, Forecast & Opportunities, 2026” has
evaluated the future growth potential of United Kingdom LED Lighting market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of United Kingdom LED
Lighting market.
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