Europe Led Driver Market Size & Outlook, 2023-2030
Europe led driver market, 2017-2030 (US$M)
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Europe led driver market highlights
- The Europe led driver market generated a revenue of USD 10,511.7 million in 2023.
- The market is expected to grow at a CAGR of 9.6% from 2024 to 2030.
- In terms of segment, driver ic was the largest revenue generating component in 2023.
- Driver IC is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 10,511.7 million |
| Market revenue in 2030 | USD 19,951.5 million |
| Growth rate | 9.6% (CAGR from 2023 to 2030) |
| Largest segment | Driver ic |
| Fastest growing segment | Driver IC |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Driver IC, Discrete Component |
| Key market players worldwide | Microchip Technology Inc, Cree LED, Hubbell Inc, Signify NV, Samsung Electronics Co Ltd, Lutron Electronics, Macroblock, Analog Devices Inc, NXP Semiconductors NV, Onsemi Intelligent Technology, Ams-OSRAM AG, Rohm Co Ltd, STMicroelectronics NV, Texas Instruments Inc, Eaglerise Electric & Electronic, Ace Led Light Co. |
Other key industry trends
- In terms of revenue, Europe region accounted for 21.2% of the global led driver market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 22,504.7 million by 2030.
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LED Driver Market Scope
LED Driver Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe led driver market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to led driver market will help companies and investors design strategic landscapes.
Driver ic was the largest segment with a revenue share of 41.68% in 2023. Horizon Databook has segmented the Europe led driver market based on driver ic, discrete component covering the revenue growth of each sub-segment from 2017 to 2030.
The European Union's legislative regulations prohibiting the sale of inefficient lighting systems have been a major driver of LED product demand in Europe. In Europe, incandescent bulbs were eliminated out in 2009. Directional halogen bulbs were phased out in 2016.
Similarly, the selling of non-directional halogen bulbs was prohibited i n the region in September 2018. Consumers have been able to gradually replace old lighting items with LED technology-based products thanks to these governmental actions.
Furthermore, moving to energy efficient LED lights has given major environmental benefits in addition to financial savings for consumers. Households, public investors, and governments in the region are being forced to adopt energy saving lighting solutions due to the region's high energy costs.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe led driver market , including forecasts for subscribers. This continent databook contains high-level insights into Europe led driver market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Europe led driver market size, by country, 2017-2030 (US$M)
Europe LED Driver Market Outlook Share, 2023 & 2030 (US$M)
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