Decorative Lighting Market Is Expanding at an Impressive CAGR of 3.4% Throughout 2030

Decorative Lighting Market
Decorative Lighting Market

The global decorative lighting market size is expected to reach USD 51.77 Billion in 2030 and register a revenue CAGR of 3.4% over the forecast period, according to a latest report by Reports and Data. Increasing need for enhancing ambiance and increasing need for reducing eyestrain is expected to drive market revenue growth during the forecast period. Rapid growth of construction industry will increase application of decorative lighting for appealing aesthetics, which is also expected to boost revenue growth of the market going ahead. Increasing disposable incomes and rising interest in improving ambiance in the building are expected to boost the demand for decorative lighting.

In addition, architects are increasingly installing decorative lighting such as chandeliers, pendants, and sconces in their construction to improve aesthetics, which is expected to drive the market revenue growth during the forecast period. Furthermore, decorative lighting is widely installed in commercial and residential spaces due to benefits such as energy efficiency, design flexibility, low voltage operation, and others, which is also expected to boost the demand for decorative lighting. Moreover, increasing investments by private manufacturers in R&D to create smart decorative lighting to reduce human efforts are expected to drive the market revenue growth during the forecast period.

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Market Dynamics:

The global Decorative Lighting market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant based food products. Moreover, rising health conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.

Competitive Landscape:

The research report offers details about leading companies in the global Decorative Lighting market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.

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Major Companies:

  • Home Depot, Inc.,
  • Signify N.V.,
  • Hubbell, Inc.,
  • Acuity Brands, Inc.,
  • Osram Licht AG,
  • Fagerhult BV,
  • SAVANT TECHNOLOGIES LLC,
  • Amerlux LLC,
  • Maxim Lighting International, Inc.,
  • Bridgelux, Inc.,
  • Intense Lighting LLC,
  • Generation Brands LLC.

Market Segmentation:

The report also sheds light on the market segmentation based on type, application and region:

By Product Type Outlook

  • Chandelier
  • Pendants
  • Sconce
  • Ceiling
  • Wall Mount
  • Others

By Light Source Outlook

  • Light-Emitting Diode (LED)
  • Fluorescent
  • Incandescent
  • Others

By Price Range Outlook 

  • High-Range
  • Medium-Range
  • Low-Range

By Distribution Channel Outlook

  • Hypermarkets
  • Specialty Stores
  • Online
  • Others

By Application Outlook

  • Residential
  • Commercial

 Decorative Lighting Market Segmentation based on Regions:

North America

  • S.
  • Canada
  • Mexico
  • Europe
    • Germany
    • K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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