Press release
Lighting Fixture Market Detailed Analysis & Focusing growth prospects with challenges, analysis of regional trends
lighting fixture
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Growing investment in smart city projects in developing economies is major factor for growth of the market. Moreover, increasing number of construction of smart building has propelled demand for energy saving infrastructure.
Industrial and commercial segment holds the dominating position in the lighting fixture market.
On the basis of application type, the global lighting fixture market is segmented into industrial and commercial, residential, outdoor, architectural, and others (automotive, aerospace, and machinery). The industrial and commercial application segment held the dominant position in 2016 and is projected to retain its dominance throughout the forecast period. In 2017, the industrial and commercial application generated the revenue of US$ 66.99 billion up from US$ 62.67 billion.
Asia Pacific holds a dominant position in the global lighting fixture market
On the basis of geography, the global Lighting Fixture market is segmented into North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. According to Coherent Market Insights, Asia Pacific held a dominant position in the global lighting fixture market in 2016 and is projected to retain its dominance throughout the forecast period. The market in the Asia Pacific was valued at US$ 58.28 billion in 2016. The high density of population has become one of the major factors for growth of the market. India and china are the two densely populated economies in this region.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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