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Ceiling Lights Market : Global Demand Analysis & Opportunity Outlook 2023

Buy Now Report ID: 246 | Published Date: Feb 13, 2023

Market Segmentation

Our in-depth analysis segmented the global ceiling lights Market in the following segments:

By Technology

  • Halogen
  • Fluorescent
  • CFL (Compact Fluorescent Light)
  • LED (Light Emitting Diodes)
  • OLED (OrganicLight Emitting Diodes)

By Installation

  • Hanging Lighting Systems
  • Tile Lighting Systems
  • Mounted Lighting Systems

By End-User

  • Commercial
  • Corporate
  • Residential

By Region

Global ceiling lights market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis


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Global Ceiling Lights Market
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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.

                    

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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.


Growth Drivers and challenges

Market-Growth-Drivers

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.


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Top Featured Companies Dominating the Market

top-features-companies

    The key playersof ceiling lights market as follows:

    • Philips
      • Company Overview
      • Key Product Offerings
      • Business Strategy
      • SWOT Analysis
      • Financials
    • Jaguar Lighting
    • Havells
    • Wipro
    • SYSKA
    • Lumens Light and Living
    • CHELSOM Ltd
    • Surya Roshini
    • Ligman Lighting Inc.

    Scope and Context

    Overview of the Parent Market

    Analyst View

    Segmentation

    The Global Ceiling Lights Market is segmented as follows:

    • By Technology type Market Size and Y-O-Y Growth Analysis
    • By Installation type Market Size and Y-O-Y Growth Analysis
    • By End-User type Market Size and Y-O-Y Growth Analysis

    By Regions

    • North America (U.S., Canada) Market Size and Y-O-Y Growth Analysis
    • Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
    • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
    • Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
    • Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
    • Rest of World  Market Size and Y-O-Y Growth Analysis

    Market Dynamics

    Supply and Demand Risk

    Competitive Landscape

    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              


In-the-news

In The News


preview-analysis

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


Author Credits:  Abhishek Verma, Hetal Singh


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