Market Size of germany indoor led lighting Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 0.83 Billion |
|
|
Market Size (2030) | USD 1.20 Billion |
|
Largest Share by Indoor Lighting | Industrial and Warehouse |
|
|
CAGR (2024 - 2030) | 6.42 % |
|
|
Fastest Growing by Indoor Lighting | Industrial and Warehouse |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Germany Indoor LED Lighting Market Analysis
The Germany Indoor LED Lighting Market size is estimated at 0.83 billion USD in 2024, and is expected to reach 1.20 billion USD by 2030, growing at a CAGR of 6.42% during the forecast period (2024-2030).
0.83 Billion
Market Size in 2024 (USD)
1.20 Billion
Market Size in 2030 (USD)
4.77 %
CAGR (2017-2023)
6.42 %
CAGR (2024-2030)
Largest Segment by Indoor Lighting
61.06 %
value share, Industrial and Warehouse, 2023
In 2020, manufacturing companies recorded sales of EUR 2.096 trillion, following which Germany accounted for 26.6% of total manufacturing value added in 2021.
Largest Segment by Commercial
42.38 %
value share, Retail, 2023
The retail industry was the third-largest economic sector in the Germany. It generated 17% of the total GDP. Around 20% of retailers plan to increase investments in the future.
Fastest-growing Segment by Indoor Lighting
7.05 %
Projected CAGR, Industrial and Warehouse, 2024-2030
More than 80% of German manufacturers plan to invest EUR 10 billion (USD 10.52 billion) a year in smart manufacturing technologies, including the automotive industry, by 2025.
Fastest-growing Segment by Commercial
8.02 %
Projected CAGR, Retail, 2024-2030
Retail is the third-largest economic sector in the German economy, generating 17% of the total GDP.
Leading Market Player
25.92 %
market share, Signify (Philips), 2022
Signify Philips holds the largest market share individually. For a long time, Signify has been driving the shift from conventional fluorescent lighting to more environment-friendly LED.
Increasing development in the industrial sector and an increase in the number of residential houses are expected to drive the growth of LED lighting market
- In terms of value, industrial and warehouse lighting was expected to hold the largest share in 2023, followed by residential, commercial, and agricultural lighting. German industrial companies make a significant contribution to the country's prosperity at around 60% of total R&D expenditure. Companies are also involved in strategic development. For instance, in 2023, Osvětléní Černoch s.r.o. built a new production and storage hall to increase its industrial production capacity. This indicated an increase in the number of industries and storage areas and an increase in the use of LED lighting.
- In terms of volume, residential lighting accounted for the largest share in 2023, followed by commercial, industrial and warehouse, and agricultural lighting. From 2017 to 2020, Germany's homeownership rate declined slightly. About 49.1% of the population lived in apartments in 2021, and in 2022 it reached 46.7%. This made Germany one of the countries with the lowest home ownership rates and the largest market for rental apartments in Europe. This marked the growth of rental accommodation, which also accelerated the adoption of LEDs in the country.
- In the area of innovation, Philips unveiled the new Philips TrueForce LED high bay universal lamp in 2023. It is easy to install, has a low initial investment, saves energy, and is especially suitable for industrial applications in warehouses and retail areas. In 2019, the company expanded its presence in the cathedral city of Cologne with the opening of the TRILUX Light Campus. These developments are driving the growth of the LED lighting market.
Understand The Key Trends Shaping This Market
