Industry Background:
Lighting is an important component in architecture which allows the people to appreciate the designs of the building. It also enhances the color and texture of an architecture and hence enhances the appearance. The architectural lightings attracts the consumers as it is used in tasks or events in the right amount. In addition is applies to theatre, dance, opera and other performances. Since, it enhances the viewing experience, it is an integral part of stage shows. These advantages are increasing the demand of stage and architectural lighting.This growth is primarily driven by Increasing Live Performances and Stage Shows and Rising Usage of Lights in Buildings and Architectures.
Globally, a noticeable market trend is evident Adoption of Smart Wireless Lighting Controls. Major Manufacturers, such as Martin Professional (Denmark), Color Kinetics (United States), Lumen Pulse (China), Chauvet (United States), Osram (Germany), Vari-Lite (United States), SGM Lighting (Denmark), ACME (India), ADJ (Netherlands) and Traxon (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2018, Lumen Pulse has acquired Sternberg Lighting which is a manufacturer of architectural and decorative street lighting.
Market Drivers
- Increasing Live Performances and Stage Shows
- Rising Usage of Lights in Buildings and Architectures
Market Trend
- Adoption of Smart Wireless Lighting Controls
Restraints
- Fluctuating raw material prices
Opportunities
Superior Product Quality and Easy Management and Increasing Popularity of Spotlights and Floodlights
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