Global General Lighting Market Size study & Forecast, by Product (LED lighting, Traditional lighting), by Application (Residential, Commercial, Outdoor, Industrial, Others) and Regional Analysis, 2022-2029

Global General Lighting Market Size study & Forecast, by Product (LED lighting, Traditional lighting), by Application (Residential, Commercial, Outdoor, Industrial, Others) and Regional Analysis, 2022-2029

Global General Lighting Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. The general lighting market refers to the market for lighting products used for general illumination purposes, such as in homes, offices, schools, hospitals, and other public spaces. These products include light bulbs, luminaires, and lighting fixtures, and are typically powered by electricity. The global general lighting market has been growing steadily over the past few years, driven by factors such as the increasing adoption of LED lighting technology, growing demand for energy-efficient lighting solutions, and the development of smart lighting systems. Moreover, retrofitting existing buildings and rising initiatives by the key market players is creating lucrative growth opportunity for the market over the forecast period 2022-2029.

Rising adoption of smart homes is a significant driver for the growth of smart lights. With the increasing popularity of smart home devices and voice assistants, consumers are looking for more convenient and connected ways to control their homes' lighting systems. According to Statista, in 2018 there were 118.89 million smart homes, with smart fire detection and smart lightning possessing the largest share it is projected that by 2023, there will be 162.97 million smart home devices installed in Canada, and. However, the high initial cost for setting up a unit for manufacturing general lighting stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global General Lighting Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the largest market for general lighting, owing to the presence of a large number of leading lighting manufacturers and the high adoption rate of advanced lighting technologies. The region has a highly developed infrastructure and a growing demand for energy-efficient lighting solutions, which drives the demand for general lighting. The United States is the largest market for general lighting in North America, accounting for a significant share of the global market. The Asia-Pacific region is expected to witness the highest growth rate in the general lighting market during the forecast period. The region is home to a large population and has a growing demand for energy-efficient lighting solutions. The increasing urbanization and infrastructure development activities in countries such as China and India are driving the demand for general lighting in the region.

Major market player included in this report are:
Acuity Brands Inc.
Advanced Lighting Technologies LLC
Bridgelux Inc.
Citizen Watch Co. of America Inc.
Cree Lighting
Delta Electronics Inc.
Dialight Plc
Eaton Corp. Plc
General Electric Co.
Hafele America Co.

Recent Developments in the Market:
In 2019, Signify (formerly known as Philips Lighting) announced that it had achieved carbon neutrality for all its operations globally, and committed to doubling its positive impact on the environment and society by 2025. The company has also been focusing on developing more energy-efficient LED lighting solutions for general lighting applications.
In 2020, Osram launched a new range of LED-based general lighting products for industrial and commercial applications, aimed at providing higher energy efficiency and longer lifespan compared to traditional lighting sources. The company has also been investing in developing smart lighting solutions for smart cities and buildings.
Global General Lighting Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Product:
LED lighting
Traditional lighting
By Application:
Residential
Commercial
Outdoor
Industrial
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Acuity Brands Inc.
Advanced Lighting Technologies LLC
Bridgelux Inc.
Citizen Watch Co. of America Inc.
Cree Lighting
Delta Electronics Inc.
Dialight Plc
Eaton Corp. Plc
General Electric Co.
Hafele America Co.

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