The global decorative lighting market will be driven by the growing demand for decorative lighting to enhance aesthetics in the commercial and domestic sectors during the forecast period 2022-2027
Global Decorative Lighting Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the decorative lighting market, assessing the market based on its segments such as light source, product, end-use, distribution channel, and regional markets, among others. the report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 3.2%
The growth of the industry is aided by the increased demand for decorative LED lighting, which is both cost effective and energy efficient. Due to its endurance and adaptability, it is rapidly replacing incandescent decorative lighting, resulting in increased demand. Additionally, LED lighting is available in a wide range of colors, shapes and brightness, making it perfect for use in a wide range of decorative designs, driving the growth of the decorative lighting industry. . The growing popularity of interior design in residential and commercial structures is contributing to the expansion of the decorative lighting industry. Lighting is commonly used to enhance the aesthetics of a space as it is one of the most important parts of interior design. Additionally, growing remodeling and remodeling activities in both developed and developing countries are resulting in an increase in the use of decorative lighting, which is driving the growth of the market. The trend has been accelerated by the COVID-19 outbreak, which has shifted household focus to home decor due to stay-at-home orders and nationwide lockdowns, leading to major development in the industry.
Industry definition and major segments
Decorative lighting is used to enhance the aesthetics of an enclosed environment, such as a home or outdoor space. It can draw attention to different designs, objects and artworks in rooms and hallways while improving the overall aesthetics of the space. It is also available in a variety of textures, designs, shapes, and colors, among others, which is why it is becoming increasingly popular in residential and commercial settings. Decorative lighting consists of fluorescent, incandescent, and LED bulbs that generate bright or faded colors. The finished product has an authentic and luminous appearance. Decorative lights are used as decorations in homes, businesses and other places.
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The main light sources for decorative lighting are:
The market can be broadly categorized on the basis of products into:
On the basis of end-use, the market is split into:
By distribution channel, the industry is split into:
• In line
Major Regional Markets of the Decorative Lighting Market are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa Regions
The growth of the industry is aided by the growing trend of bedroom lighting which can have relaxing effects while being pleasing to the eye. Additionally, growing environmental awareness is driving the demand for decorative lighting fixtures made of organic materials, which is fueling the expansion of the market. The market is growing due to an increased demand for decorative ceiling lighting to reshape spaces and enhance their attractiveness. The introduction of smartphone-controllable dynamic lighting is also propelling the decorative lighting market forward. Market growth is driven by increased demand for smart decorative lighting that automates lighting intensity. Smart lighting uses less power and energy than traditional lighting as it has features such as occupancy and daylight sensors, which is fueling the development of the decorative lighting market. Additionally, as smart lighting can vary lighting moods based on space and mood preferences, the demand for decorative lighting is increasing, which is expected to drive the growth of the industry throughout the forecast period.
Main market players
The major market players are Acuity Brands Lighting Inc., Maxim Lighting International, Inc., Generation Lighting, Savant Systems, Inc., Lowe’s Companies, Inc., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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