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.

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.

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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Lighting Fixtures market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Lighting Fixtures market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Lighting Fixtures market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Lighting Fixtures market?
• Which is the largest regional market for Lighting Fixtures market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Lighting Fixtures market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Lighting Fixtures market worldwide?