Lighting Product Market Regional Overview, Business Status And Top Manufacturers

Lighting Product Market expected to grow at a CAGR of 4.5% through 2023 to 2029, reaching nearly USD 154.29 Bn.

Lighting Product Market Report Scope and Research Methodology

Report Scope:

The Global Lighting Product Market has achieved remarkable growth, with a market size valued at US$ 113.38 billion in 2022. It is expected to continue this growth trajectory, projecting a robust CAGR of 4.5% from 2023 to 2029, ultimately reaching nearly US$ 154.29 billion.

Research Methodology:

This comprehensive market analysis accounts for the impact of the COVID-19 pandemic on market leaders, followers, and disrupters, ensuring a nuanced and accurate assessment.

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What are Lighting Product Market Dynamics?

Key drivers fueling the growth of the global lighting product market from 2023 to 2029 include the increasing demand for energy-efficient lighting solutions in residential and commercial sectors, a growing consumer appetite for upgraded domestic lighting, and government initiatives promoting energy-saving technologies. Additionally, the flourishing real estate industry, particularly in high-end communities, is driving the demand for yard lamps.

LED lighting, consuming 80% less energy compared to traditional lighting, has garnered significant adoption. LED bulbs, devoid of harmful materials found in fluorescent bulbs, are attracting consumers away from conventional lighting sources. The global trend toward phasing out traditional lighting in countries like China, Brazil, and European nations is expected to further drive LED adoption.

The lighting industry is transitioning from analog to digital technologies, paving the way for smart and networked LED lights. Users can now control, measure, and monitor light efficiency, meeting contemporary consumer demands for wireless lighting, dimmers, and smart sensors. IoT technology enables smart lights connected to Wi-Fi to manage warmth, brightness, and color options.

Lighting Product Market Segmentation?

The market is divided into LED Tubes & Bulbs, T8 LED Tubes & Bulbs, and Others (Incandescent, High Intensity Discharge) based on the kind of product. This is a result of the strict laws that forbid using inefficient light bulbs. The use of incandescent bulbs for general lighting has been outlawed in some areas, and replacement of incandescent bulbs with more energy-efficient bulbs is required. These are the main advantages that are anticipated to propel the LED Tubes & Bulbs segment's growth in the global market from 2023 to 2029.

The market is divided into four categories based on the kind of lighting fixture: ceiling fixtures, recessed lighting fixtures, strip lighting fixtures, and others (such as chandeliers and pendant lights). This is because interior illumination is used extensively in homes, hospitals, workplaces, shopping centres, and educational facilities. Wall-mounted and ceiling-mounted indoor and outdoor lighting fixtures produce a more attractive and brighter ambience. The presence of several ceiling lighting fixture designs for both commercial and residential applications is anticipated to fuel the growth of the ceiling fixtures market.

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Who are Lighting Product Market Key Players?

1. Home Depot
2. Lowes
3. Target
4. Wal-Mart
5. Bed Bath & Beyond
6. Sam's Club
7. Costco
8.Menards
10. Kim Lighting
11. Innovative Lighting
12. Cree
13. Baja Designs
14. Grote
15. Rigid Industries
16. DECO Lighting
17. BIOS
18. LSI Industries
19. Nichia
20. Osram
21. Brightlux
22. Everlight

Table of content for the Lighting Product Market includes:

Part 01: Executive Summary

Part 02: Scope of the Lighting Product Market Report

Part 03: Global Lighting Product Market Landscape

Part 04: Global Lighting Product Market Sizing

Part 05: Global Lighting Product Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

Asia Pacific maintains its dominance in the Global Lighting Product market, holding a significant market share of 48% in 2022, with expectations to sustain this lead through 2029. This is attributed to increased government support for energy-efficient lighting adoption in emerging economies. Initiatives like India's Domestic Efficient Lighting Programme (DELP) aim to replace incandescent and CFL bulbs with LED lighting, boosting market growth.

North America is set to grow rapidly at a CAGR of from 2023 to 2029 due to increased demand for smart lights equipped with Bluetooth-enabled audio systems, air purifiers, and home automation.

Europe is anticipated to be the fastest-growing region in the forecast period, driven by the superior quality, long lifespan, and energy efficiency of available lighting fixtures.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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