Escalating Growth in Real Estate Sector to Boost the Global Ceiling Lights Market Growth, according to our research report Global Ceiling Lights Market Outlook 2023.
Global ceiling lights market is segmented into technology type. Among this segment, OLED technology is expected to showcase a significant growth in near future on account of growing adoption for energy efficient and durable ceiling lights in various corporate and healthcare sectors.The global ceiling lights market is projected to register a CAGR of 11.6% over the forecast period i.e. 2016-2023. Further, the ceiling tile lighting systems segment is expected to exhibit a significant growth during the forecast period on account of increasing demand for modular tile lighting systems in corporate and commercial sector. The compact design and energy efficient characteristics of tile lighting systems are swelling the demand in residential areas across the globe.
Asia-Pacific is anticipated to witness a remarkable growth in the overall market for ceiling lights across the globe over the forecast period. Rapid expansion of infrastructural sector owing to urbanization is expected to drive the market for ceiling lights in Asia-Pacific region over the next seven years. Increasing adoption of energy efficient lighting systems among various end-use sectors such as corporate, healthcare, residential, etc. is boosting the growth for ceiling lights market.
Advanced Technology: Technical Dynamics
Introduction of advanced lighting technology such as OLED which is much more compact and energy efficient over conventional bulbs are gaining traction across the globe. The advanced lighting technology also offers longer life span and lower power consumption which will uplift the demand for ceiling lights during the forecast period i.e. 2016-2023. Continuous research and development in the field of lighting technology to provide energy efficient and compact lighting systems is propelling the market growth of ceiling lights globally.
Growth in Urbanization: Fortify
Rapid pace in urbanization across the globe and increasing infrastructural facilities backed by rising investment are the major driving factor for the market of ceiling lights market. Expansion of corporate sectors and increasing demand for modular and compact ceiling lights in these sectors augmented the growth for ceiling lights market globally.
Conversely, presence of stringent regulations on the manufacturing of CFL and LED lights, high cost of new generation lighting systems and dearth of awareness in undeveloped countries are some of the factors which are hampering the growth of ceiling lights market.
The report titled “Global Ceiling Lights Market Outlook 2023” delivers detailed overview of the Global Ceiling Lights Market in terms of market segmentation by Technology Type, by Installation Type, by End-user Type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global ceiling lights market which includes company profiling of Philips, Osram,Havells,Wipro, SYSKA and Moser Baer,etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the Global Ceiling Lights Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stake holders to align their market centric strategies according to the ongoing and expected trends in the future.