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Lighting Fixtures Market Size, Share, Impressive Company Growth, Report 2027

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Anjali Pawar
Lighting Fixtures Market Size, Share, Impressive Company Growth, Report 2027

The lighting fixtures market is growing globally, driven by the growth of the construction industry, the increasing awareness of energy-efficient lighting solutions, and the technological advancements in the industry. The market has been segmented by product type, application, and geography. The lighting fixtures segment dominated the market by product type, while the commercial segment dominated the market by application.


The global Lighting Fixtures Market was valued at USD 120.1 billion in 2020 and is expected to grow at a CAGR of 6.3% during the forecast period (2021-2028). The demand for lighting fixtures is driven by several factors, including the growth of the construction industry, the increasing awareness of energy-efficient lighting solutions, and the technological advancements in the industry.


Based on product type, the lighting fixtures market has been segmented into lamps, bulbs, and lighting fixtures. The lighting fixtures segment dominated the market in 2020, accounting for over 60% of the global market share. This is attributed to the increased adoption of energy-efficient lighting fixtures, the growing demand for decorative lighting fixtures, and the increasing awareness of smart lighting solutions. The bulbs segment is expected to grow at the fastest rate during the forecast period, owing to the increasing demand for LED bulbs and the growing trend of replacing incandescent bulbs with LED bulbs.


Based on application, the lighting fixtures market has been segmented into residential, commercial, and industrial. The commercial segment dominated the market in 2020, accounting for over 40% of the global market share. This is attributed to the growth of the construction industry, the increasing demand for energy-efficient lighting solutions in commercial buildings, and the increasing adoption of smart lighting solutions in commercial buildings. The residential segment is expected to grow at the fastest rate during the forecast period, owing to the increasing demand for energy-efficient lighting solutions in households and the growing trend of home automation.


Read more @ https://influentialblogging.blogspot.com/2023/04/the-global-lighting-fixtures-market-is.html


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Western Lighting
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img

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Lighting Fixtures Market to Garner Brimming Revenues over US$ 76 Billion all through 2025
bishu das 2018-10-19
img

The global market for lighting fixtures is estimated to reach a market size of over US$ 76 Billion all through 2025, up from a market value of over US$ 25.8 Billion during 2017.

Increased penetrations in LED lighting, as well as the need for smart fixtures, are the major aspects anticipated to fuel the overall growth in revenue terms of the worldwide market for lighting fixtures.

The market will be recording a healthy 14.2% CAGR all through the calculated period.Market Segmentation• Based on the type, the global market is segmented as Decorative & Residential Lighting, Architecture & Commercial Lighting, Outdoor Lighting and Industrial Lighting.

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