UK LED Lighting Market Forecast

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Size in 2023: USD 2.7 Billion

Market Forecast in 2032: USD 5.8 Billion

Market Growth Rate: 8.60% (2024-2032)

How Big is the UK LED Lighting Industry ?

The UK LED lighting market reached USD 2.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 8.60% during 2024-2032.

UK LED Lighting Market Trends:

The growing use of energy-efficient solutions in homes and businesses, which lower energy consumption and expenses, is the main factor propelling the UK market. Additionally, as more sectors look for sustainable lighting solutions, the market is being driven by the increased demand for eco-friendly options. Furthermore, a major reason driving growth is the growing government rules that encourage greater product utilization as a result of energy-saving measures.

Additionally, the industry is expanding faster due to the declining costs of LED components, which makes these lighting configurations more affordable. Additionally, ongoing technological developments in smart lighting systems are increasing demand by piqueing consumer attention. In addition, the usage of LEDs in public and industrial areas is being encouraged by growing urbanization and infrastructure development.

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UK LED Lighting Market Scope and Growth Analysis:

The growing need for smart and connected lighting solutions is expanding the market's reach and changing the way lighting systems are utilized. Additionally, the market outlook is being improved by the more adaptable and customized applications made possible by the Internet of Things' (IoT) incorporation into lighting systems. Additionally, the potential for creative and energy-efficient solutions is growing due to continuous research and development in the field of LED technology.

Furthermore, government incentives for implementing sustainable practices are playing a crucial role in expanding the market and promoting broad sector adoption. Additionally, new growth prospects are being made possible by the diversification into specialty lighting for agriculture and healthcare. According to the market report, growing expenditures on urban infrastructure are boosting the need for outdoor LED applications, thereby expanding the industry's reach.

UK LED Lighting Industry Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest UK LED lighting market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.

Product Type Insights:

  • LED Lamps and Modules
  • LED Fixtures

Installation Insights:

  • New Installation
  • Replacement

Application Insights:

  • Residential
  • Outdoor
  • Retail and Hospitality
  • Offices
  • Industrial
  • Architectural
  • Others

Regional Insights:

  • London
  • South East
  • North West
  • East of England
  • South West
  • Scotland
  • West Midlands
  • Yorkshire and The Humber
  • East Midlands
  • Others

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Other Key Points Covered in the Report:

  • COVID-19 Impact on the Market
  • Porter's Five Forces Analysis
  • Strategic Recommendations
  • Market Dynamics
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape
  • Top Winning Strategies
  • Recent Industry News
  • Key Technological Trends & Development

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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