Lighting market driven by LEDs grows

The global lighting market continues to perform strongly in 2022: $120 billion, with an estimated annual growth rate of more than 7% over the next five years. In Europe, the total market, comprising luminaires, lamps and digitally controlled lighting systems, is worth around EUR 22.5 billion, with a growth rate of 8% by 2021, according to the report by CSIL and Expert Market Research.

 

 

 

 

Thanks to technological developments, the lighting sector has also evolved over time: LED technology has introduced a revolution in the industry. LED sources have the advantage of being much more energy efficient than incandescent bulbs, have a longer lifetime and are very flexible in terms of management. In 2008-2009, LEDs accounted for just 5% of the European lighting market, but ten years later, in 2019, the share has risen to 70% and is expected to grow by a further 10% by 2023.  By 2022, the value of LED bulbs stood at around EUR 1.7 billion, compared to 826 million for conventional ones.

According to Expert Market Research, the increase in demand for LEDs is the result of increased environmental awareness and governmental initiatives in favour of LED technology. Increasing scarcity of resources combined with rising energy costs have made this solution the most attractive to many consumers.

 

 

As in the previous year, the majority of the market in 2022 is in the residential segment, worth over EUR 6.2 billion and up by 4%. There is, however, considerable growth (almost 13%) in the commercial segment, which jumps from 5.5 billion to over 6.1 billion, trailing the domestic segment. The increase in the industrial market, on the other hand, is close to 10%, reaching almost 3.5 billion, while outdoor lighting reaches 4 billion in consumption.
The report also notes a significant increase in demand for lighting systems in the Middle East, mainly due to huge investments in infrastructure, population growth and mega-events, such as the World Cup in Qatar at the end of 2022, which have made new systems necessary.

 

 

 

According to the CSIL report, Beghelli maintains its position as Italian and European leader in the emergency lighting market, with a market share in Europe of 15.2%. Emergency lighting includes escape route lighting, anti-panic lighting and specific lighting for high-risk areas, solutions for buildings open to the public and workplaces, but also for homes. The main driver of market growth in the coming years is the replacement of existing luminaires (relamping) that no longer meet current safety standards.