Decorative Lighting Market Size to Grow by $8.32 Million, Driven by Evolution of Lighting Product Design Concept Leading to Premiumization

NEW YORK, November 21, 2022 /PRNewswire/ — The decorative lighting market is growing at a CAGR of 4.75% and is expected to post incremental growth of USD 8.32 from 2021 to 2026. The report analyzed the market size and growth and provides accurate market growth forecasts. Download a free PDF report example

Technavio has announced its latest market research report titled Global Decorative Lighting Market 2022-2026

Main highlights

  • The report acknowledges the following key players in the decorative lighting market: AB Fagerhult, Acuity Brands Inc., Amerlux LLC, Bridgelux Inc., Capital Lighting Fixture Co. among others.

  • The structure of the global decorative lighting market is fragmented in nature.

  • APAC is expected to have a significant share in the decorative lighting market.

  • Market to observe 3.67% YoY growth in 2022.

View a comprehensive summary of the report describing the market size and forecast, as well as the research methodology. The FREE Sample Report is available in PDF format

Market dynamics

The decorative lighting market is predicted to witness substantial growth over the forecast period mainly due to the evolving lighting product design concept leading to premiumization. The growing demand for luxury decorative lighting products among premium customers has encouraged manufacturers to come up with new and unique designs in this category. The luxury decorative lighting products are available as per innovations, quality standards, modern designs and the latest trends formed by famous interior designers. Interior designers introduce innovative and attractive design concepts such as traditional, modern, contemporary and transitional. Decorative lighting products such as luxury chandeliers designed by interior designers are available at premium prices. These chandeliers are in huge demand among wealthy residential users. Several luxurious decorative lighting products are manufactured in ItalyThe UK, Spain, Germany, and the United States. Thus, the premiumization of decorative lighting products through distinctive design concepts has led to higher adoption by premium customers.

The report also covers insights into the upcoming trends and challenges that will affect the growth of the market. Explore more information for Download a FREE sample report

Seller landscape

The global decorative lighting market is fragmented and is characterized by the presence of numerous suppliers, both international and regional. These players offer distinct designs, models and other advanced technologies such as intelligent connectivity in lighting and LED technology. In this market, vendors compete based on product quality, product innovation, product price, and product portfolio. They also focus on business expansion and product innovation to increase profit margins and market share. Vendors form different competitive strategies to maintain their position in the market. Also, the probability of new players entering the market is low. The market includes both established brands and private brands. Some of the prominent vendors in the global decorative lighting market include Fagerhult, Acuity Brands, Bridgelux, General Electric, Generation Lighting, Honeywell International, IDEAL INDUSTRIES Inc., Maxim Lighting International, OSRAM Licht, and Signify.

This report provides a comprehensive list of key vendors, their strategies and latest developments. Buy now to gain access to exclusive supplier information

Key segments

The decorative lighting market it is segmented by product into ceiling, wall mount and others. The ceiling segment is expected to be the largest segment of the global decorative lighting market during the forecast period. The ceiling segment includes devices that are mounted on a ceiling or suspended from the ceiling. These include chandeliers, pendant lights, semi-recessed and recessed lights; pool table lights, buffet lamps, kitchen island lights and outdoor ceiling lights. These are widely used in residential and commercial places. They also come in traditional, transitional and modern designs and are made from different materials. Customers who don’t have much ceiling space for large chandeliers opt for small chandeliers, also known as mini chandeliers.

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Analysis of regional growth

The global Decorative Lighting market is analyzed into five regions namely, APAC, Europe, North America, South Americathe Middle East And Africa. APAC is the dominant region and is expected to account for 49% of the global market share over the forecast period. Several decorative light manufacturers in this region come from China And Japan. The decorative lighting market in APAC is highly fragmented and competitive due to the presence of many national brands offering a wide variety of products. The growing preference for elegant lights such as lamps, pendant lamps and floor lamps is driving the growth of the regional market.

Identify potential segments and regions to invest in over the forecast period. View the FREE sample report

Together with the market data, Technavio offers customizations according to the specific needs of the companies. Following customization options are available for the Decorative Lighting market report:

Regional analysis

Information on market players

  • Detailed analysis and profiling of other market players, supplier segmentation and supplier offers.

  • Know the strategies adopted by suppliers during the recovery phase. View our FREE sample report

Related reports:

  • The market share of outdoor landscape lighting in North America an increase of is expected USD 147.51 million from 2021 to 2026 and the market growth momentum will accelerate to a CAGR of 5.22%. The growing demand for LED lighting for different applications is driving the growth of the outdoor landscape lighting market in particular North Americaalthough factors such as poor performance of high temperature LED lighting products may hinder the growth of the market.

  • The industrial and commercial LED lighting market it is expected to grow USD 41.56 billion with a CAGR of 17.44% during the forecast period 2021 to 2026. Declining LED manufacturing costs are particularly driving the growth of the industrial and commercial LED lighting market, although factors such as limited thermal tolerance of LEDs installed in industrial plants could hinder market growth.

Scope of the decorative lighting market

Report coverage

Details

Page number

120

Reference year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerates to a CAGR of 4.75%

Market growth 2022-2026

$8.32 billion

Market structure

Fragmented

Year-Over-Year Growth (%)

3.67

Regional analysis

APAC, Europe, North America, South America and MEA

Performing market contribution

49% APAC

Main consuming countries

United States, China, Japan, Germany and the United Kingdom

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Profiled companies

AB Fagerhult, Acuity Brands Inc., Bridgelux Inc., General Electric Co., Generation Lighting, Honeywell International Inc., IDEAL INDUSTRIES INC., Maxim Lighting International, OSRAM GmbH and Signify NV

Market dynamics

Analysis of the main market, drivers and barriers to market growth, analysis of the fast and slow growing segments, the impact of COVID-19 and future consumer dynamics and market condition analysis for the forecast period.

Customization expertise

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

Summary:

1 Executive summary

2 Market landscape

3 Market sizing

4 Analysis of the five forces

5 Market segmentation by product

6 Market segmentation by distribution channel

7 Customer landscape

8 Geographical landscape

9 Drivers, challenges and trends

10 Vendor landscape

11 Vendor analysis

12 Appendix

About Technavio

Technavio is a world-leading technology research and consulting company. Their research and analysis focuses on emerging market trends and provides useful insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, covering 800 technologies, spanning 50 countries. Their client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base is based on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in the markets existing and potential and evaluate their competitive positions within evolving market scenarios.

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Global decorative lighting market 2022-2026

Global decorative lighting market 2022-2026

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