Lighting fixture Market: In-Depth Qualitative Insights And Historical Data

The lighting fixture is an electronic device, which is used to create an artificial light. The global lighting fixture market was valued at US$ 163.02 billion in 2017 from US$ 153.15 billion in 2016. The market is projected to exhibit a CAGR of 7.8% during the forecast period (2017 – 2025), reaching US$ 297.26 million by 2025.

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Market Dynamics

The increasing smart city projects have become a key factor for the growth of the light fixture market. The smart city projects raised the demand for energy saving infrastructure, which boosts the market of lighting fixture. According to Indian general budget 2016 – 2017, the Government of India released a fund of US$ 49.4 million (RS 3205 crore) for the development of 100 smart cities across the economy. Moreover, the rising demand for reducing power consumption plays a major role in the growth of the lighting fixture market. The replacement of conventional light to modern LED become has the major driver for the lighting fixture providers. In addition, rising population, increasing construction industry, and rising disposable income especially in emerging economies have raised the global lighting fixture market.

Increasing smart city projects plays a major role in the growth of the lighting fixture market size globally

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. For instance, according to Indian General Budget 2016 – 2017, the Government of India released a fund of US$ 49.4 million for the development of 100 smart cities across the economy.

Market Taxonomy

This report segments the global lighting fixture market on the basis of product type, application, and geography. On the basis of product type, the market is segmented into ceiling, pendant & chandelier, wall mounted, recessed, portable, high bay, low bay, and others (emergency lighting, track lighting, and fan). On the basis of application, the market is segmented into industrial and commercial, residential, outdoor, architectural, and others (automotive, aerospace, and machinery). For a comprehensive understanding of market dynamics, the market is analyzed across key geographical regions namely, North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. Each of these regions is analyzed based on the market findings across major economies in these regions for a macro-level understanding of the market.

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. The high involvement of governmental bodies of various economies for energy saving has become one of the major factors for providing dominating position to the industrial and commercial application. The industrial and commercial applications are the two largest segment for energy consumption in the nation. According to energy saver, Office of Energy Efficiency & Renewable Energy in the U.S., with new standard of Energy Independence and Security Act (EISA) in 2015, the U.S. households save nearly US$ 6 billion.

Detailed Segmentation:

Global Lighting fixture Market, By Product Type:
◦ Ceiling, Pendant & Chandelier
◦ Wall Mounted
◦ Recessed
◦ Portable
◦ High bay and Low bay
◦ Others (Emergency lighting, Track lighting and Fan)

Global Lighting fixture Market, By Application:
◦ Industrial and Commercial
◦ Residential
◦ Outdoor
◦ Architectural
◦ Others (Automotive, Aerospace, Machinery)

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