The global decorative lighting market size is expected to
reach USD 42.9 billion by 2025, according to a new report by Grand View
Research, Inc., expanding at a CAGR of 3.1% over the forecast period.
Increasing deployment of decorative lighting in shopping malls, complexes, and
retail shops have been playing a vital role in the market growth. The bright
light adds a charm to place, along with giving it a warm and welcoming vibe.
Additionally, the lighting helps in showcasing the products better and making
it appear attractive. The trend has further extended its roots in decorating
washrooms of malls, complexes, airports, and restaurants in order to offer a
remarkable service to its customers.
The color of light plays a crucial
role in the adoption of fixtures. Consumers have become aware about the effect
of the color temperature. Three varieties including soft white, bright/cool
white, and daylight are generally used. Soft white or warm white light bulbs
are best suited for bedrooms and living rooms, as these offer traditional,
warm, and cozy look. The bright or cool white light is suitable for kitchen and
other similar workspaces including offices, as these offer a quick energetic
ambience. The daylight is considered ideal for working, reading, or applying
makeup as they enhance the color contrast.
Asia Pacific is expected to remain one
of the lucrative markets over the next few years. Population growth and
urbanization in developing economies such as China and India have paved a way
for the lighting fixture firms to find new opportunities in the region.
Additionally, rising spending on renovation as well as development of tourist
destinations by the governments of China, India, Maldives, and Sri Lanka at the
domestic level is expected to increase the establishment of new hotels as well
as restaurants, where decorative lighting fixtures will expand the market
reach.
Some of the key players operating in
the decorative lighting market for decorative lighting are ACUITY BRANDS
LIGHTING, INC.; Signify Holdings; NICHIA CORPORATION; Hubbell; Crest LED Lighting;
GENERAL ELECTRIC COMPANY; OSRAM GmbH; Cree Lighting; Crest LED Lighting; and
CRENSHAW LIGHTING. New product launches are expected to remain key strategies
among the industry participants in order to expand their market size.
Additionally, consumers are expected to consider energy efficient products with
smart features as one of the key buying criteria over the next few years. For
instance, in October 2018, Jaquar launched its copper chandelier with a silver
plating. The three-tier chandelier is decorated with European crystals, along
with LED E14. It offers smart and energy efficient lighting.
Browse full research report on Decorative Lighting Market: https://www.grandviewresearch.com/industry-analysis/decorative-lighting-market
Further key findings from the report suggest:
- By
product, sconce held the largest share of over 35.0% in 2018 due to
availability of a variety of products in the market, and each of which
plays an essential role in creating a unique ambience
- Flush
mount products are expected to expand at the fastest CAGR of 3.8% from
2019 to 2025. The ceiling mounted product is increasingly adopted owing to
its inclusion in interior decoration by most designers
- By
light source, LED sourced products are expected to witness the fastest
growth from 2019 to 2025. Fluorescent sourced products are expected to
generate a revenue of USD 13.0 billion by 2025
- The
commercial application segment accounted for more than 70.0% share of the
global revenue in 2018.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/decorative-lighting-market/request/rs1
Grand View Research has segmented the global decorative lighting
market on the basis of product, light source,
application, and region:
Decorative Lighting Product Outlook (Revenue, USD Million, 2015 -
2025)
- Chandeliers
- Pendants
- Sconce
- Flush
Mount
- Others
Decorative Lighting Light Source Outlook (Revenue, USD Million,
2015 - 2025)
- LED
- Fluorescent
- Incandescent
- Others
Decorative Lighting Application Outlook (Revenue, USD Million,
2015 - 2025)
- Commercial
- Household
Decorative Lighting Regional Outlook (Revenue, USD Million, 2015 -
2025)
- North
America
- U.S.
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- India
- Central
& South America
- Brazil
- Middle
East & Africa
- South
Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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