Energy efficient LED technologies drive a 36 per cent increase in market shareNews
Posted by: electime 15th November 2022
As a result of the Covid-19 pandemic, the UK lighting market value slumped by around 16 per cent in 2020. As the worst of the pandemic passed, the market began to recover with the economy largely reopening and in 2021, saw around a 2 per cent increase in value.
The market is made up of the following three sectors: lamps, luminaires and lighting controls and components. The luminaries’ sector is the market’s largest, with a 61 per cent value share, ahead of lamps (25 per cent) and lighting controls and components (14 per cent).
Lighting products and equipment based on LED technologies have been one of the market’s star performers in recent years. Amongst their numerous advantages, LEDs are widely recognised as being highly energy efficient with a long life. Their popularity has resulted in the share of the total lighting market increasing from 52 per cent in 2016 to 88 per cent in 2021.
With a 36 per cent share of sales, electrical wholesalers continue to represent one of the most important distribution channels due to their national/regional presence, the wide product range usually available and significant levels of customer loyalty. Although e-commerce operators are expected to increase their share of the UK market for lighting products at the retail level, due to online shopping becoming more prevalent amongst the UK population.
Head of Content and Editor of the Lighting Market Report UK 2022-2026, Abdul Tantouch comments on the market. He states that “despite the many changes and innovations brought about by the adoption of LED technologies within the industry, lighting remains a mature market. Growth within the market remains heavily dependent upon the performance of the UK construction industry, where any significant decline in activity can severely dampen demand for lighting products and equipment.