According to a report, the number of LED lamps installed for general lighting in Europe will grow from 288 million in 2014 to 2.9 billion units in 2019 at an CAGR of 58.7%.
The report forecasts that Western Europe will maintain its leadership in relative market share during 2014-2019. The use of LED lamps in general lighting in Northern Europe is forecast to increase at a slower pace. Southern and Eastern Europe are forecast to trail the market leaders, but both will grow at a faster annual rate than the other 2 sub-regions.The market forecast is also segmented by major lamp types: PAR, general service lamps/decorative, MR-compatible, tube and tape, streetlights, high-bay and other/miscellaneous LED lighting.
According to the report, the consumption value of LED general lighting lamps in Europe reached US$1 billion in 2014. The Commercial/Industrial user category is forecast to dominate in terms of relative market share during 2014-2019. However, both the Government and the Residential/Non-Specific are forecast for faster annual growth. The Commercial/Industrial sector is especially strong in PAR lamps, MR lamps and (near-term) general service lamps. Government is forecast to be a relative heavy user in the streetlight product category. The Residential sector is forecast to have relative strong usage in the general service and MR lamp types.