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Architectural lighting Market 2023 - By Size, Share, Growth And Global Forecast Report 2032
Architectural Lighting Market
The Business Research Company's Architectural lighting Global Market Report 2023 identifies Increasing demand for energy-efficient lighting solutions as the major driver for the Architectural lighting market's growth in the forecast period. Energy-efficient lighting is a luminaire that reduces power expenditures and carbon dioxide emissions while maintaining light quality in use. Energy-efficient lighting solutions utilize less energy to create the same amount of light as traditional lighting solutions while having a longer lifespan. Additionally, the growing use of LED lighting solutions has increased the demand for energy-efficient lighting solutions.
The global architectural lighting market size is expected to grow from $7.74 billion in 2022 to $8.42 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The global architectural lighting market size is expected to reach $11.31 billion in 2027 at a CAGR of 7.7%.
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Major competitors in the Architectural lighting market are Acuity Brands Lighting Inc., Siteco Beleuchtungstechnik GmbH, Signify Holdings BV, OSRAM GmbH, Cree Inc., General Electric Company.
A key trend in the Architectural lighting market includes product innovations. Major companies operating in the architectural lighting market are focused on developing innovative solutions to strengthen their position in the market. For instance, in November 2022, SloanLED Co., a US-based lighting product manufacturer and developer, announced the release of Symphony Area Light, a dynamic addition to the Symphony Series of architectural lighting fixtures. The product integrates perfectly with the architectural landscape while providing superior performance and uniformity enabling larger pole spacing and lower power density. This device is unique for its ability to deliver up to 50,000 lumens and 171 lm/W, as well as an IP66-rated fixture with autonomous motion and daylight controls.
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The Architectural lighting market is segmented -
• By Type: Incandescent Lights, Fluorescent Lights, High Intensity Discharge (HID) Lights, Light Emitting Diode (LED) Lights, Other Types
• By Lighting Type: Ambient, Task, Accent
• By Application: Wall Wash, Cove Lighting, Backlighting, Other Applications
• By End-User: Residential, Commercial, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Architectural lighting market.
The Business Research Company's "Global Architectural lighting Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Architectural lighting Market Include:
1. Executive Summary
2. Architectural Lighting Market Characteristics
3. Architectural Lighting Market Trends And Strategies
4. Architectural Lighting Market - Macro Economic Scenario
5. Architectural Lighting Market Size And Growth
…………………………………..
26. Africa Architectural Lighting Market
27. Architectural Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Architectural Lighting Market
29. Architectural Lighting Market Future Outlook and Potential Analysis
30. Appendix
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