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

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

Technavio has announced its latest market research report titled Global Decorative Lighting Market 2022-2026

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.

View a comprehensive summary of the report that describes the market size and forecast along with the research methodology. The Sample FREE Report is available in PDF format

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 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.

Identify potential segments and regions to invest in during the forecast period. See a sample FREE report

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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  • The industrial and commercial LED lighting market should grow by $41.56 billion with a CAGR of 17.44% during the forecast period 2021 to 2026. Decreasing LED manufacturing costs are notably driving the growth of the industrial and commercial LED lighting market, although factors such as tolerance Limited thermal of LEDs installed in industrial facilities could hamper market growth.

Decorative Lighting Market Scope

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 4.75%

Market Growth 2022-2026

$8.32 billion

Market structure

Fragmented

Annual growth (%)

3.67

Regional analysis

APAC, Europe, North America, South America and MEA

Successful market contribution

APAC at 49%

Main consumer countries

United States, China, Japan, Germany and United Kingdom

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

AB Fagerhult, Acuity Brands Inc., Bridgelux Inc., General Electric Co., Generation Lighting, Honeywell International Inc., IDEAL INDUSTRIES INC., Maxim Lighting International, OSRAM GmbH and Signify NV

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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

About Technavio

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

contacts

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Global Decorative Lighting Market 2022-2026

Global Decorative Lighting Market 2022-2026

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