Global Decorative Lighting Market Overview:
The term decorative lighting covers all the traditional classes of light fittings such as floor lights, pendants, chandeliers, etc. which differentiates them from technical or architectural lighting. Decorative lighting can offer general illumination for an entire room, focus on a small area for task or hobby lighting, or be used to accent other lighting and provide additional ambiance. Most decorative lighting can be both hardwired and plugged into an outlet and some can run on battery or solar power.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Use of Smart Lighting Systems and Rising Demand for Street Lighting Systems
Market Growth Drivers:
Increasing Demand for Decorative Lighting by Premium Customers and Rising Demand for Energy Efficient Decorative Lighting Products
Challenges:
Low Light Efficiency In Relation To the Fluorescent Sources
Restraints:
The Cost of Decorative Lights is high
Opportunities:
Increasing Number of Smart City Projects in Developing Economies
Competitive Landscape:
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Some of the key players profiled in the report are Jaquar Lighting Group (India), Royal Philips N.V. (Netherlands), Acuity Brands (United States), General Electric Company (United States), Maxim Lighting (United States), Signify N.V. (Netherlands), Diamond Life Group (China), EGLO Leuchten GmbH (Germany), Elstead Lighting (United Kingdom), LUMINAIRES GROUP (Canada) and Zumtobel Group (Austria). Additionally, following companies can also be profiled that are part of our coverage like Vast china lighting manufacture Co., Ltd. (China), HUAYI LIGHTING (China), Estiluz Lighting (Spain), ACCESS LIGHTING (United States) and Generation Brands (United States). Analyst at AMA Research see Chinese and United States Players to retain maximum share of Global Decorative Lighting market by 2028. Considering Market by Light Sources Types, the sub-segment i.e. Incandescent Bulb will boost the Decorative Lighting market. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Decorative Lighting market.
Latest Market Insights:
In June 2023, Acuity Brands, Inc. (NYSE: AYI), a leading provider of lighting and building management solutions, announced the acquisition of The Luminaires Group, a UK-based designer and manufacturer of architectural and decorative lighting. This acquisition expands Acuity Brands' portfolio of high-end decorative lighting solutions and strengthens its presence in Europe.
In October 2023, LBL Lighting Group, a leading provider of high-performance LED lighting solutions, announced the launch of its new Symphony Collection of decorative lighting fixtures. The Symphony Collection features a variety of innovative designs and advanced LED technology, offering homeowners and businesses a unique and energy-efficient way to enhance their spaces.
What Can be Explored with the Decorative Lighting Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Decorative Lighting Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Decorative Lighting
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Decorative Lighting market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Decorative Lighting market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Decorative Lighting, Suppliers of Decorative Lighting, Wholesalers, Distributors and Retailers of Decorative Lighting, Raw Material and Manufacturing Equipment Suppliers, Semiconductor and Electronic Component Manufacturers and Governmental Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.