Lighting Fixture Market This Report Covers Main Segments like by Source ( Incandescent,Fluorescent,LED & OLED) , by Product (Ceiling, Pendant & Chandeliers, Wall Mounted, Portable, Others) by Application ( Residential, Commercial) And by Distribution Channel (Offline, Online)
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Lighting Fixture Market was US$ 114.16 Bn in 2022 and is expected to grow at CAGR 5.21% in forecast period.
By Segment Wise Our Report Shows That
Source Segment with the Highest Growth
Incandescent lighting fixtures use incandescent bulbs as their light source. These bulbs contain a filament that heats up and emits light when an electric current passes through it. Incandescent fixtures are known for their warm, yellowish light, but they are less energy-efficient and have a shorter lifespan compared to other lighting technologies.
Because they create light from a metallic filament, incandescent bulbs are no longer in use. Due to its superior qualities to incandescent bulb, fluorescent lamp contributed the most share (52.23%) in 2021. Fluorescent lamps use gas to produce light, which requires less energy. As a result, they have a longer lifespan, are more energy efficient, and are less expensive, which have contributed to the fluorescent lamp segment’s strong demand and market expansion.
Increasing demand for energy-efficient products in the residential and commercial sectors is anticipated to drive the market
Ceiling fixtures are mounted on the ceiling and provide general illumination for a room. They come in various styles, including chandeliers, pendant lights, flush mount lights, and semi-flush mount lights. Chandeliers and pendant lights often serve as decorative focal points in spaces like dining rooms and foyers, while flush and semi-flush mount lights offer more subtle ambient lighting.
by Application:
- Residential Lighting: Residential lighting fixtures are designed for use in homes, apartments, and other living spaces. This segment includes a wide range of fixtures for bedrooms, living rooms, kitchens, bathrooms, dining areas, and outdoor spaces, catering to various lighting needs and design aesthetics.
- Commercial Lighting: Commercial lighting fixtures are used in commercial buildings, offices, retail stores, restaurants, hotels, and other business spaces. This segment includes fixtures for general illumination, task lighting, accent lighting, and architectural lighting to create appealing environments and enhance functionality.
By Distribution Channel:
With the rise of e-commerce, many lighting fixtures are sold through online retailers and marketplaces. Consumers can browse and purchase a wide range of fixtures online, often with the convenience of home delivery. Online retailers provide a vast selection, reviews, and the ability to compare products easily.
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Lighting Fixture Market Region wise Growth:
- North America: North America has been a significant market for lighting fixtures due to ongoing urbanization, residential and commercial construction projects, and a focus on energy efficiency. The adoption of LED technology has been substantial in this region, driven by its energy-saving benefits. Demand for smart lighting solutions and innovative designs has also contributed to market growth.
- Europe: Europe has been at the forefront of energy-efficient lighting adoption due to stringent regulations and a strong emphasis on sustainability. The transition from traditional lighting technologies to LEDs has been rapid, both in residential and commercial applications. The market has also seen growth in architectural and decorative lighting fixtures.
- Asia-Pacific: The Asia-Pacific region has experienced rapid urbanization and infrastructure development, driving the demand for lighting fixtures across residential, commercial, and industrial sectors. Countries like China and India have been key drivers of growth due to their massive populations and ongoing construction activities. The adoption of LED technology and the rise of smart lighting solutions have been notable trends.
- Latin America: Latin America has shown steady growth in the lighting fixture market, with increased construction activities and urban development in major cities. Energy efficiency and cost savings have been driving the shift towards LED lighting, especially in commercial spaces. Economic conditions, regulatory changes, and infrastructure investments impact the regional growth.
- Middle East and Africa: The Middle East and Africa region have witnessed growth driven by infrastructure projects, urbanization, and increasing tourism. The demand for lighting fixtures is significant in hospitality, commercial, and residential sectors. Energy-efficient lighting solutions have gained popularity, along with decorative and architectural lighting.
Lighting Fixture Market Key Players are:
1. Everlight Electronics Co., Ltd. 2. Siemens 3. General Electric 4. Koninklijke Philips N.V.; 5. Cree Inc. 6. General Electric 7. Hubbell Lighting, Inc. 8. Acuity Brands, Inc. 9. Eaton Corporation 10. Panasonic Corporation 11. OSRAM Licht AG 12. Nichia Corporation 13. Osram 14. Philips N.V. 15. Zumtobel Lighting GmbH 16. LSI Industries Inc. 17. Juno Lighting Group 18. RENRGIZ Technology 19. Shunde Xinhua Electrical Co. Ltd, 20. Fanzen International Lighting
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