According to IMARC Group latest report titled “Decorative Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on decorative lighting market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global decorative lighting market reached a value of US$ 38.25 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 48.4 Billion by 2027 exhibiting a CAGR of 3.70% during 2022-2027.
Decorative lighting refers to lighting fixtures manufactured using LED, fluorescent, and incandescent elements that emit light. These products offer an authentic, natural, and brilliant appearance, providing general illumination or accentuating other lightings. The lights are highly customizable as they are available in a wide range of shapes, sizes and variants, such as bright, faded or mixed. In addition, they can be operated via electricity, battery, or solar energy. As a result, decorative lights find extensive applications across residential spaces, retail outlets and other venues.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global decorative lighting market is primarily driven by considerable growth in the real estate industry. A significant rise in the expansion of residential and commercial sectors across the globe is contributing to the sales of decorative lighting. Also, the easy availability of these products via offline and online organized retail channels is complementing the market growth. In line with this, continual product innovations are providing a boost to the market growth. Other factors, such as rapid urbanization, inflating disposable income levels and shifting lifestyle preferences of the masses, are also providing an impetus to the market growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Acuity Brands Inc.
- Bridgelux Inc
- Crest LED Lighting
- Fagerhults Belysning AB
- General Electric Company
- Honeywell International Inc.
- Hubbell Incorporated
- Ideal Industries Inc.
- Maxim Lighting
- Nichia Corporation
- Osram Licht AG (ams AG)
- Signify Holding
Decorative Lighting Market Segmentation:
Our report has categorized the market based on region, product type, light source, distribution channel and end user.
Breakup by Product Type:
- Flush Mount
- Ceiling Mount
- Wall Mount
Breakup by Light Source:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
Breakup by End User:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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