Lighting Fixtures Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Overview:

The global market for lighting fixtures and concerned accessories is predominantly driven by new installations, which, subsequently is influenced by infrastructural development. Revival of the construction industry post economic recession is identified as one of the major factors driving lighting fixtures market worldwide. In addition, stringent energy efficiency norms and regulations coupled with greater awareness among people regarding optimum energy consumption is redefining the future of the lighting industry. The lighting fixture market has been witnessing strong growth with growing popularity of smart luminaires. Smart lighting fixtures are integral for developing smart cities due to their ability to curb operational costs and save energy. Initiatives taken by the governments around the globe to develop smart cities are influential in driving demand for smart lighting fixtures worldwide.


The global lighting fixtures market is experiencing an influx of energy efficient products such as LED lighting luminaires. LED lighting fixtures are quickly becoming popular across public and private environments. Benefits offered by the LED technology in terms of energy efficiency, durability, and cost savings are supporting the adoption of LED lighting fixtures across different application segments. The aforementioned factors are expected to support a CAGR of 7.3% during the forecast period 2021 - 2029.

Report Scope

This report analyzes the global lighting fixtures market in terms of product type, end-use application, and geography. Based on product type, the global lighting fixtures market has been categorized into portable lighting fixtures, non-portable lighting fixtures, and other variants including special purpose lighting fixtures and accessories. Furthermore, the global lighting fixtures market is also segmented based on end-use application into industrial, residential buildings, architectural & commercial, automotives, and outdoor. The geographical distribution of the global lighting fixtures market considered for this research study covers regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

The research study titled “Global Lighting Fixtures Market- Growth, Future Prospects and Competitive Analysis, 2021 - 2029” provides insights into the global lighting fixtures market in addition to market size and forecasts for the period from 2019 to 2029. The research study offers strategic in-depth analysis on market segments based on product type, end-use application and cross-sectional analysis geographic regions including North America, Europe, Asia Pacific, and RoW.

In order to enable decision makers, the research study covers competitive profiling of the leading lighting fixture manufacturers, prevailing competitive landscape and key developments taking place in the lighting industry. Some of the major players profiled in the report include Acuity Brands, Inc. General Electric Company, Cooper Lighting, LLC, Hubbell Lighting, Inc., Koninklijke Philips N.V., Crompton Greaves Ltd., Cree, Inc., Bajaj Electricals Ltd., Amerlux LLC, Panasonic Corporation, OSRAM GmbH, and LSI Industries, Inc. among others.

Other detailed analysis offered by the research report includes:

• Current and future market trends showing attractive investment areas within the lighting fixtures market
• Market dynamics covering market drivers, market inhibitors and challenges, and their impact on market estimations and forecasts
• Historic market size data (2019 & 2020)

Overall, the report provides a comprehensive view of the global lighting fixtures market, offering market size and forecasts for the period from 2019 to 2029, considering the aforementioned dynamics.

On the basis of type, the lighting fixtures market is categorized into following segments:

• Portable Lighting Fixtures
• Non-portable/Stationary Lighting Fixtures
• Others (Parts & Accessories, etc.)

In the base year 2020, the global lighting fixture market was led by the non-portable or stationary lighting fixture segment in terms of both revenue and shipments. The segment accounted for over 60% of the global market revenue in the same year. The trend is expected to prolong and the segment is expected to retain its leading position throughout the forecast period 2021 - 2029. The dominance of stationary lighting fixtures can be credited to their widespread adoption across residential, commercial, and automotive applications. The dominant position of non-portable lighting fixtures has been further buttressed by the resurgence in the construction activities and automotive production post economic recession. In addition to residential and commercial buildings, non-portable lighting fixtures are also extensively used in non-building settings including parks, roadways, and marinas among others.

On the basis of geography, the global lighting fixtures market is segmented into following regions and countries.

• North America
• United States
• Rest of North America
• Europe
• United Kingdom
• France
• Germany
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Rest of Asia Pacific
• Rest of the World
• Latin America
• Middle East and Africa

Asia Pacific is by far the largest and most attractive lighting fixture market worldwide. China and India represent two major lighting fixtures market in Asia Pacific. Improving standard of living coupled with initiatives taken by the government to ensure complete rural electrification are major factors driving demand for lighting fixtures in India. For instance, rural electrification initiatives including R-APDRP (Restructured Accelerated Power Development and Reforms Programme) and RGGVY (Rajeev Gandhi Grameen Vidyutikaran Yojana) have had positive impact on new lighting fixture installations in the country. The trend is expected to prolong and the region is expected to witness robust growth during the forecast period 2021- 2029. On the other hand matured markets including North America and Europe are expected to exhibit steady growth over the forecast period. The growth in these regions, especially the U.S., will be supported by demand for technologically advanced energy efficient fixtures.


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