Decorative Lighting Market Size Expected to Grow by USD 8.32 Million, Driven by Evolving Lighting Product Design Concept Leading to Premiumization – Technavio

NEW YORK, November 21, 2022 /PRNewswire/ — The decorative lighting market is growing at a CAGR of 4.75% and is expected to register incremental growth of $8.32 from 2021 to 2026. The report has analyzed the market size and growth and provides accurate predictions of the market growth. Download a Free Sample PDF Report

Highlights

• The report recognizes the following players as the major players in the decorative lighting market: AB Fagerhult, Acuity Brands Inc., Amerlux LLC, Bridgelux Inc., Capital Lighting Fixture Co., among others.

• The structure of the global decorative lighting market is fragmented in nature.

• APAC is expected to hold a significant share of the decorative lighting market.

• The market is expected to observe an annual growth of 3.67% in 2022.

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Market dynamics

The decorative lighting market is expected to witness substantial growth over the forecast period, primarily driven by the scalable lighting product design concept leading to premiumization. The growing demand for luxury decorative lighting products among high-end customers has encouraged manufacturers to come up with new, unique designs in this category. Luxury decorative lighting products are available according to innovations, quality standards, modern designs and latest trends formed by famous interior designers. Interior designers introduce innovative and attractive design concepts such as traditional, modern, contemporary and transitional. Decorative lighting products such as luxury chandeliers designed by interior designers are available at premium prices. These chandeliers are in high demand among wealthy residential users. Many luxurious decorative lighting products are made in ItalyGreat Britain, Spain, Germany, and the United States. Thus, the premiumization of decorative lighting products through distinctive design concepts has led to increased adoption by premium customers.

The story continues

The report also covers information on upcoming trends and challenges that will influence market growth. Explore additional information in FREE Sample Report Download

Supplier Landscape

The global decorative lighting market is fragmented and characterized by the presence of numerous vendors, including international and regional players. These readers feature distinctive designs, patterns and other advanced technologies such as smart connectivity in lighting and LED technology. In this market, vendors compete on the basis of product quality, product innovation, product price, and product portfolio. They also focus on business expansion and product innovation to increase their profit margins and market share. Sellers form several competitive strategies to maintain their position in the market. Moreover, the likelihood of new players entering the market is low in the market. The market consists of both established brands and own brands. Some of the major vendors in the global decorative lighting market include Fagerhult, Acuity Brands, Bridgelux, General Electric, Generation Lighting, Honeywell International, IDEAL INDUSTRIES Inc., Maxim Lighting International, OSRAM Licht, and Signify.

This report provides a comprehensive list of major vendors, their strategies, and the latest developments. Buy now to access exclusive supplier information

Key segments

The decorative lighting market is segmented by Product into Ceiling-Mounted, Wall-Mounted and Others. The ceilings segment is expected to be the largest segment in the global decorative lighting market during the forecast period. The ceiling segment includes luminaires mounted on the ceiling or suspended from the ceiling. These include chandeliers, pendant lights, semi-flush and recessed fixtures; pool table lamps, buffet lamps, kitchen island lamps and outdoor ceiling lights. These are widely used in residential and commercial places. They are also available in traditional, transitional and modern designs and are made from a variety of materials. Customers who do not have a lot of ceiling space for large chandeliers opt for small size chandeliers, also called mini chandeliers.

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Regional Growth Analysis

The global decorative lighting market is analyzed across five regions, namely APAC, Europe, North America, South Americathe Middle East and Africa. APAC is the dominant region and is expected to account for 49% of the global market share during the forecast period. Several manufacturers of decorative lighting in this region are from China and Japan. The decorative lighting market in Asia Pacific is highly fragmented and competitive due to the presence of many national brands that offer a wide variety of products. Rising preference for stylish fixtures such as lamps, pendants, and floor lamps is driving the growth of the regional market.

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Along with market data, Technavio offers customizations according to specific business needs. The following customization options are available for the Decorative Lighting market report:

Regional analysis

Information on market players

• Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.

• Know the strategies adopted by sellers during the recovery phase. Check out our FREE sample report

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Contents:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 Market Segmentation by Distribution Channel

7 Customer Landscape

8 Geographic landscape

9 drivers, challenges and trends

10 Supplier Landscape

11 Vendor Analysis

12 Appendix

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