New Delhi, June 22, 2021: Increase in consumer awareness and rise in demand for environment-friendly lighting system is expected to drive the United KingdomLED Lightingmarket 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 KingdomLED 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 lightand 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 againoperational with lower production volume and the market is expected to pick up the pace eventually.
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United KingdomLED Lighting market is segmented into type, application, installation type, end user, distribution channel, regional distribution, and company. Based onend 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 oninstallation 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 Plcare the leading players operating in United KingdomLED 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 advantageof 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-basedmanagement 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 KingdomLED 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 KingdomLED Lightingmarket.
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