Market Overview

The lighting fixture is an electronic device, which is attached to wall or ceiling 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. The demand for reducing power consumption has become one of the major factors for growth of the lighting fixture market. The replacement of conventional light to modern LED has become the major driver for growth of lighting fixture manufacturers. The growing construction industry, rising population, and increasing disposable income worldwide, especially in emerging economies has boosted growth of the global lighting fixture market.

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.

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)

Global Lighting fixture Market, By Geography:

North America

By Country

U.S.

Canada

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Key companies covered as a part of this study include Acuity Brands Lighting, Inc., Acuity Brands, Inc., American Electric Lighting, Bajaj Electricals Ltd., Cooper Lighting, LLC, Hubbel Lighting, Inc., Juno Lighting Group, Koninklijke Philips N.V., LSI Industries. and Zumtobel Lighting GmbH.


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