Decorative Lighting Market Size to Grow by USD 8.32 Mn, Driven by evolving lighting product design concept leading to premiumization

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

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

Key Highlights

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

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

  • APAC is expected to have a significant share in the decorative lighting market.

  • Market to observe 3.67% YOY growth in 2022.

View a comprehensive report summary that describes the market size and forecast as well as research methodology. The FREE sample report is available in PDF format

Market Dynamics

The decorative lighting market is expected to witness substantial growth during the forecast period, primarily due to the evolving lighting product design concept leading to premiumization. Growing demand for luxury decorative lighting products among premium customers has encouraged manufacturers to come up with new and unique designs in this category. Luxury decorative lighting products are also available for innovations, quality standards, modern designs, and the 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 enjoy huge demand among high-net-worth residential users. Several luxurious decorative lighting products are manufactured in Italythe UK, Spain, Germany, and the US. 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 the upcoming trends and challenges that will influence market growth. Explore additional information by Downloading a FREE Sample Report

Country Landscape

The global decorative lighting market is fragmented and is characterized by the presence of numerous vendors, including both international and regional players. These players offer distinct designs, patterns, and other advanced technology such as smart connectivity in lighting and LED technology. In this market, the vendors compete based on product quality, product innovation, product pricing, and product portfolio. They also focus on business expansion and product innovation to increase their profit margins and market share. The vendors form several competitive strategies to maintain their position in the market. Moreover, the probability of new players entering the market is low in the market. The market constitutes both established brands and private-label brands. Some of the prominent 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 full list of key vendors, their strategies, and the latest developments. Buy Now to gain access to exclusive local information

Key Segments

The decorative lighting market is segmented by product into ceiling, wall-mounted, and others. The ceiling segment is expected to be the largest segment of the global decorative lighting market during the forecast period. The ceiling segment includes fixtures that are mounted on a ceiling or hung from the ceiling. These include chandeliers, pendant lights, semi-flush, and flush-mounted lights; pool table lights, buffet lamps, kitchen island lights, 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 of various materials. Customers who do not have much ceiling space for big chandeliers opt for small-sized chandeliers, which are also known as 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 Americasaid Middle East and Africa. APAC is the dominating region and is expected to account for 49% of the global market share over the forecast period. Several manufacturers of decorative lights in this region are from China and Japan. The decorative lighting market in APAC is highly fragmented and competitive due to the presence of many domestic brands that offer a wide variety of products. The increasing preference for sleek lights such as lamps, pendant lights, and floor lamps is driving the growth of the regional market.

Identify potential segments and regions to invest in over the forecast period. View FREE Sample Report

Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the decorative lighting market report:

Regional Analysis

Market Player Information

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

  • Know the strategies adopted by vendors during the recovery phase. View our FREE Sample Report

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  • The outdoor landscape lighting market share in North America is expected to increase by USD 147.51 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.22%. The growing demand for LED lighting for different applications is notably driving the growth of the outdoor landscape lighting market North Americaalthough factors such as poor performance of LED lighting products at high temperatures may impede market growth.

  • The industrial and commercial LED lighting market is projected to grow by USD 41.56 billion with a CAGR of 17.44% during the forecast period 2021 to 2026. The declining manufacturing cost of LEDs is notably driving the industrial and commercial LED lighting market growth, although factors such as the limited thermal tolerance of LEDs installed in industrial facilities may impede the market growth.

Decorative Lighting Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.75%

Market growth 2022-2026

USD 8.32 billion

Market structure

fragments

YoY growth (%)

3.67

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 49%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

Table of contents:

1 Executive 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 Country Landscape

11 Country Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Email: media@technavio.com
Website: www.technavio.com/

Global Decorative Lighting Market 2022-2026

Global Decorative Lighting Market 2022-2026

Cision

Cision

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