Global Lighting Fixtures and Luminaires Market Report 2021: Market to Reach $112.9 Billion by 2027 – An Intensely Competitive Marketplace – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Lighting Fixtures and Luminaires Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Lighting Fixtures and Luminaires Market to Reach $112.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Lighting Fixtures and Luminaires estimated at US$79.2 Billion in the year 2020, is projected to reach a revised size of US$112.9 Billion by 2027, growing at a CAGR of 5.2% over the analysis period 2020-2027.
Non-Portable, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$85.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Portable segment is readjusted to a revised 3.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $15.3 Billion, While China is Forecast to Grow at 6.7% CAGR
The Lighting Fixtures and Luminaires market in the U.S. is estimated at US$15.3 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$23.7 Billion by the year 2027 trailing a CAGR of 6.7% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.
Parts & Accessories Segment to Record 4.8% CAGR
In the global Parts & Accessories segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.1 Billion in the year 2020 will reach a projected size of US$10.8 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$20.8 Billion by the year 2027, while Latin America will expand at a 5.2% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Pandemic Impacts Smart Lighting Market
- Home Office Trend Drives Demand for Lighting with Smart Features
- Types of Lighting Fixtures
- End-Use Sectors
- Lighting Fixtures and Luminaires: Shaping the Future of Energy Efficient Lighting Technologies
- Global Market Prospects & Outlook
- Developing Regions Poised to Record Healthy Gains
- Construction Activity: A Key Demand Determinant
- Investments in Infrastructure Projects Support Market Demand
- An Intensely Competitive Marketplace
- M&A Emerges as Viable Approach Amid Growing Competition
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 394 Featured)
- Acuity Brands, Inc.
- American Electric Lighting
- Holophane, Inc.
- Juno Lighting Group
- Lithonia Lighting Company
- Amerlux, LLC
- Bajaj Electricals Ltd.
- Cree, Inc.
- GE Current
- Eaton Corporation plc
- ELK Group International, Inc.
- Fagerhults Belysning AB
- Sylvania Lighting
- FW Thorpe Plc
- Havells India Limited
- Hella KGaA Hueck & Co.
- Hubbell, Inc.
- Koito Manufacturing Company Ltd.
- LEDvance GmbH
- LSI Industries, Inc.
- Lutron Electronics Co., Inc.
- NVC (Huizhou) Lighting Technology Corporation
- OMS, a.s.
- Opple Lighting
- Osram GmbH
- Panasonic Corporation
- Seren Lighting
- Schreder Group GIE
- Signify N.V.
- Color Kinetics
- Targetti Sankey S.p.A.
- Technical Consumer Products, Inc.
- Toshiba Lighting & Technology Corporation
- TRILUX GmbH & Co. KG
- Venture Lighting International, Inc.
- Zumtobel Group AG
- Thorn Lighting
3. MARKET TRENDS & DRIVERS
- Prominent Technologies with Potential to Transform Lighting Industry
- Surging Demand for LED Lighting Emerges as the Fundamental Growth Driver for the Market
- LED Lamps and Luminaires’ Penetration Varies Across General Lighting Segments
- LED Luminaires Adoption in Commercial Buildings Set to Increase
- Wider Uptake of LED Lighting in Industrial Facilities to Drive Demand for Industrial LED Luminaires
- Efficiency Requirements Boost LED Luminaires Demand
- LED Outdoor Lighting Poised for High Adoption in the Future
- LED Lighting Adoption Faster in Countries with High Power Costs
- OLED Lighting Remains a Niche Category
- Demand for Waterproof LED Luminaires Witnesses a Surge
- Government Policies Spur Adoption of Energy Efficient Lamps and Luminaires
- Advances in Foundation Technology and Processes Allow LEDs to become Smarter
- Advances in LED Domain Allow Luminaires to Evolve at Lighting Speed
- Lighting Innovations to Support Performance, Quality and Connectivity
- Proliferation of Smart Lighting, Connected Home Technology and Digitization Drive Healthy Market Growth
- Connected, Embedded, and Sustainable Lighting Drive Enormous Changes in Luminaire Design and Functionality
- Lighting Controls in Fixtures Offer Higher Savings, Energy Efficiency, and Space Efficiency, Augurs Well for Market Expansion
- Controls for Connected, Intelligent, and Advanced LED luminaires
- IoT and Artificial Intelligence Gain Significance in Lighting Applications
- Rise of Smart Cities and Focus on Smart Energy Management Opens Up Opportunities for Smart Lighting Products
- Smart Lighting Systems Find High Demand from Street Lighting Networks
- Consumer Spending on Smart Home Technologies Gathers Steam, Presenting Opportunities for Smart Lighting Solutions
- Demand Rises for Energy Efficient Lighting Systems in Industrial Applications
- Lighting Technologies for Industrial Spaces: Features, Rated Hours and Applications
- Modernization Initiatives to Spur Demand for Industrial Luminaires
- Latest Trends and Innovations in Industrial LED Lighting Industry
- Automotive Remains a Core End-Use Sector for Lighting Systems
- With COVID-19 Severely Impacting Automobile Production Activity, Demand for Vehicular Lighting Products Set for Significant Decline
- Noteworthy Trends in Next-Generation Automotive Lighting
- Laser Light Represents Cornerstone Technology for Automotive Headlight
- Stylish and Decorative Luminaires Drive Market Growth for Architectural Fixtures
- Sculptural Lighting Fixtures Stand to Make Gains
- Innovative Architectural Lighting Trends & Innovations
- Home Decor Trends Drive the Portable Lighting Fixtures Market
- UV Light Emerges as Important Weapon in War against COVID-19 Pandemic
- Continuous Innovations & Changing Design Trends: The Mark of Lighting Fixtures Market
- Transformative Trends in Lighting Designs
- Review of Select Interior Lighting Design Trends
- Fixture Designs Impact Performance and Environment
- Key Trends in the Lighting Fixtures Market
- A Review of Select Innovative LED Fixtures
- Demographic and Socioeconomic Trends Influence Market Prospects
- Ballooning Global Population
- Urbanization Trend
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
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