The lighting fixture is an electronic device, which is used to create an artificial light. The global lighting fixture market was valued at US$ 163.02 billion in 2017 from US$ 153.15 billion in 2016. The market is projected to exhibit a CAGR of 7.8% during the forecast period (2017 – 2025), reaching US$ 297.26 million by 2025.
Market Dynamics:
The increasing smart city projects have become a key factor for the growth of the light fixture market. The smart city projects raised the demand for energy saving infrastructure, which boosts the market of lighting fixture. According to Indian general budget 2016 – 2017, the Government of India released a fund of US$ 49.4 million (RS 3205 crore) for the development of 100 smart cities across the economy. Moreover, the rising demand for reducing power consumption plays a major role in the growth of the lighting fixture market. The replacement of conventional light to modern LED become has the major driver for the lighting fixture providers. In addition, rising population, increasing construction industry, and rising disposable income especially in emerging economies have raised the global lighting fixture market.
Market Taxonomy
This report segments the global lighting fixture market on the basis of product type, application, and geography. On the basis of product type, the market is segmented into ceiling, pendant & chandelier, wall mounted, recessed, portable, high bay, low bay, and others (emergency lighting, track lighting, and fan). On the basis of application, the market is segmented into industrial and commercial, residential, outdoor, architectural, and others (automotive, aerospace, and machinery). For a comprehensive understanding of market dynamics, the market is analyzed across key geographical regions namely, North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. Each of these regions is analyzed based on the market findings across major economies in these regions for a macro-level understanding of the market.
Key features of the study:
This report provides an in-depth analysis of the lighting fixture market with market size (US$ Million) and CAGR (%) for the forecast period: 2017 – 2025, considering 2016 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players.
It profiles leading players in the global lighting fixture market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies.
Key companies covered as a part of this study include Acuity Brands Lighting, Inc., Acuity Brands, Inc., American Electric Lighting, Bajaj Electricals Ltd., Cooper Lighting, LLC, Hubbel Lighting, Inc., Juno Lighting Group, Koninklijke Philips N.V., LSI Industries. and Zumtobel Lighting GmbH.
Insights from this report will allow marketers and management authorities of companies to make informed decisions with respect to their future product launch, technology upgrades, market expansion, and marketing tactics.
Various strategy matrices used in analyzing the lighting fixture market would provide stakeholders vital inputs to make strategic decisions accordingly.
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