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.
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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.
o Company Overview
o Key Product Offerings
o Business Strategy
o SWOT Analysis
o 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
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