Global Ceiling Lights Market Overview
Ceiling lights are commonly utilized for offering general illumination and are highly popular and feasible in major populated areas and in rooms with lower ceilings. These are basically a light fixture which is connected with ceiling. Over the past few years it has been notified that advanced lighting systems established importance in numerous sectors such as healthcare, corporate, and residential, etc. owing to its enhanced design and technology.
Rapid pace in urbanization across the globe and increasing infrastructural facilities backed by rising investment are the major factors which are creating significant demand for ceiling lights all across the globe. Expansion of corporate sectors and increasing demand for modular and compact ceiling lights in these sectors augmented the growth of ceiling lights globally. Moreover, key players of ceiling lights are focusing towards producing energy efficient and brighter ceiling lights for the various end-use. On the other hand, remodeling of residential and commercial sectors across the globe is augmenting the demand for ceiling lights.
Continuous research and development in the field of lighting technology to provide energy efficient and compact lighting systems is propelling the demand for energy saving ceiling lights. Apart from this, growing trend towards advanced lighting technology such as LED, CFL, etc. amongst the urban folk and rising concern towards energy savings lighting systems in various sectors are some of the key elements driving the growth of ceiling lights market.
Market size and forecast
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 is expected to exhibit a exponential growth during the forecast period on account of increasing demand for modular tile lighting systems in corporate and commercial sector. It has been observed that compact design and energy efficient characteristics of tile lighting systems are swelling the demand for such ceiling lights across the globe.
Regionally, Asia-Pacific is anticipated to witness a remarkable growth in the overall ceiling lights market across the globe over the forecast period i.e. 2016-2023. The market is chiefly driven by the growing demand for ceiling lights from major economies such as India, China, Japan, etc. 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. Besides this, increasing adoption of energy efficient lighting systems among various end-use sectors such as corporate, healthcare, residential, etc. is boosting the growth of ceiling lights market.
Europe and North-America are expected to be the largest markets for ceiling lights by 2023 due to presence of hi-tech and advanced infrastructure in the regions. Rebounding of residential sector in North-America region owing to remodeling of outmoded structures is expected to fuel the demand for ceiling lights in near future. Moreover, Middle-East region is expected to be the fastest growing market during the forecast period i.e. 2016-2023. Rapid development in infrastructural facilities on account of huge investment is further expected to spur the demand for new generation ceiling lights. Apart from this, the higher demand for ceiling lights from the premium hotels and corporate building which are under construction in the Middle-East region is anticipated to expand the ceiling lights market at a considerable rate till 2023.
Our in-depth analysis segmented the global ceiling lights Market in the following segments:
Global ceiling lights market is further classified on the basis of region as follows:
Growth Drivers and challenges
Rising popularity of new generation ceiling lights across the globe is one of the key factors swelling the demand for ceiling lights. Besides this, increasing investment in real estate sector which is leading to expand the modern and advanced infrastructure facilities are augmenting the demand for modular ceiling lights to attract the consumers. Moreover, 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 low power consumption which will further uplift the demand for ceiling lights during the forecast period i.e. 2016-2023.
Likewise, government initiatives towards adoption of energy saving lighting technology are pushing consumers to adopt new generation ceiling lights across the globe. For instance, various subsidy policies for the manufacturers of lighting systems by the government authorities is helping to reduce the cost of LED and OLED lighting systems.
On the other hand, presence of stringent regulations on the manufacturing of CFL and LED lights, high cost of new generation lighting systems and lack of awareness in undeveloped countries are some of the factors which are hampering the growth of ceiling lights market.
The key playersof ceiling lights market as follows:
Scope and Context
Overview of the Parent Market
The Global Ceiling Lights Market is segmented as follows:
Supply and Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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