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Lighting Fixtures Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 09:40 AM, 14th September, 2017 REP-ID-360 Category: ICT & Electronics

Lighting Fixtures Market Overview

Lighting fixture is an electronic device which is used to create artificial light by using an electrical lamp. Lighting fixture is very effective in terms of decoration and is used by lighting designers for decoration purposes. These fixtures are used in almost every sector such as resident, home décor, transportation and construction and others. Apart from that, lighting fixtures are produce sufficient amount of light and consume less amount of energy as compared to other conventional lighting systems.

Market Size & Forecast

Global lighting fixtures market is growing at a compound annual growth rate (CAGR) of 7.1% during forecast period 2017-2024. The global lighting fixtures market is projected to reach to a valuation about USD 216.45 Billion by the end of year 2024. The rising demand for energy saving lighting fixtures has propelled the growth of global market of lighting fixtures. The global lighting fixture market is driven by Asia-Pacific region. Asia-Pacific accounted for the highest share about 39% of the global lighting fixtures market.

High population density is one of the key elements propelling the growth of the lighting fixtures market in Asia Pacific region and is anticipated to continue its dominance over the forecast period. Further, rise in demand for lighting fixtures in developing economics such as China, India and others is expected to augment the demand for the global lighting fixture market in near future. On the other hand, North America and Europe region are expected to witness a sluggish growth over the forecast period. Replacement of conventional lighting system with modern lighting fixtures is anticipated to positively impact the growth of the market.

Market Segmentation

Our-in depth analysis of the global lighting fixtures market includes the following segments:

By Product Type

  • Ceiling
  • Fans
  • Chandeliers
  • Pendants
  • Recessed
  • Utility
  • Wall

By Application

  • Residential
  • Commercial
  • Architectural

By Light Source

  • Incandescent
  • Fluorescent
  • Gas Discharge
  • Metal Halide
  • LED
  • OLED

By Region

Global lighting fixture market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers & Challenges

Commercial, residential and industrial sectors are now witnessing higher capital investment in infrastructure development. Further, this factor is increasing the demand for lighting fixtures in these sectors. Some of the government initiatives, such as promotion for LED lighting, energy conservation and others have given boost to the global market of lighting fixtures. Over the past few years, it has been seen that modern lighting fixtures are being adopt over conventional lighting fixtures due to its attractive look and low power consumption capability. This factor is expected to impel the growth of the lighting fixture market over the forecast period. Urbanization and enhancement of infrastructure of the buildings are some of the major drivers increasing the demand for lighting fixtures. These activities are expected to increase with remarkable growth rate in near future. Apart from that, factors such as rising per capita income and rising awareness of energy consumption among the consumers have led them to replace the conventional lighting fixture with modern lighting fixtures.

The rising disposable income coupled with changing lifestyle has resulted in the adoption of advanced and attractive lighting fixture. Lighting fixtures have wide range of application in various sectors such as automobile, aerospace, industries construction and others. Further, the global lighting fixtures market is expected to witness growth over the forecast period on the account of the positive growth in end-use industries.

However, presence of local vendors has affected the overall revenue of the global market. Further, low cost offering by the local vendors is reducing the market share of the organized players.

Key Players

  • Acuity Brands Lighting Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Advanced Lighting Technology Inc.
  • Bajaj Electricals Ltd
  • Cooper Industry PLC
  • Cree Inc.
  • Evolution Lighting
  • Fagerhults bElysning AB
  • GE Lighting
  • Grote industries Inc.
  • Havells
  • HELLA KgaA Hueck & Co.
  • Hubbell Lighting Inc.
  • Spaulding Lighting Inc.
  • Juno Lighting Group

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global lighting fixtures market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Light Source Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & 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

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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