Lighting Fixtures Market, By Application (Passenger Vehicles and Commercial Vehicles), By Product Type (Ceiling, Pendant and Chandelier, Wall Mounted, Recessed, Portable, High Bay and Low Bay, Others (Emergency Lighting, Track Lighting, and Fan), By Appli

Lighting Fixtures Market, By Application (Passenger Vehicles and Commercial Vehicles), By Product Type (Ceiling, Pendant and Chandelier, Wall Mounted, Recessed, Portable, High Bay and Low Bay, Others (Emergency Lighting, Track Lighting, and Fan), By Application (Industrial & Commercial, Residential, Outdoor, Architectural, Others(Automotive, Aerospace, and Machinery)) and by Region (North America, Europe, Asia Pacific, RoW) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

A light fixture or light fitting is an electrical device containing an electric lamp that provides illumination. The primary components of a lighting fixture include a lamp socket, for holding purpose, and a fixture body. Lighting fixtures with an electrical lamp are termed as a luminaire. Furthermore, lighting fixture is also comprised of electric ballast, reflectors, aperture, and an outer shell, which acts as a protective cover for the electric lamp. Over the years, lighting fixtures have evolved from conventional lighting technology and fluorescent lamps to energy-efficient lighting technology such as LED lamps.
Market Dynamics
The rapid adoption of advanced lightning solution such as LED is driving the global lightning fixtures market over the forecast period. LED devices provides certain benefits over the florescent lighting. For instance, LEDs have a longer lifespan, nearly about 100,000 hours, as compared to incandescent bulb with 1000 hours and CFL with 8000 to 10,000 hours lifespan. LEDs can also reduce the labor cost and achieve lower maintenance work due to a longer operational life. Furthermore, LED lighting fixture is far more efficient than conventional incandescent bulbs. Due to these features provided by LED, it is expected to increase over the forecast period. According to Coherent Market Insights analysis, the global LED market was valued US$ 11.8Mn in 2021 and expected to reach US$ 27.4 Mn by 2027.
Increasing construction activities across the globe is expected to grow across the globe in specially developing economies such as India, China, Brazil and many others. In these countries witnessed large development in public, commercial, residential, and utility sectors. Thus, increasing construction activity across the globe is expected to drive the global lighting fixtures market over the forecast period.
However, high initial investments, maintenance cost and lack of awareness among consumers are expected to restrain the global lighting fixtures market over the forecast period.
Market Taxonomy
This report segments the global lighting fixtures market on the basis of Product Type Application and region. On the basis of Product Type, the global lighting fixtures market is segmented into Ceiling, Pendant and Chandelier, Wall Mounted, Recessed, Portable, High Bay and Low Bay and Others (Emergency Lighting, Track Lighting, and Fan). On the basis of Application, the global lighting fixtures market is segmented Industrial & Commercial, Residential, Outdoor, Architectural, Others (Automotive, Aerospace, and Machinery). On the basis of region, the global lighting fixtures market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
Key features of the study:
This report provides an in-depth analysis of the global lighting fixtures market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022 - 2028), considering 2021 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global lighting fixtures market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the global lighting fixtures market are Acuity Brands, Inc., Zumtobel Lighting GmbH, Cooper Lighting, LLC, Panasonic Corporation Eco Solutions Company, General Electric Company, OSRAM Licht AG, Koninklijke Philips N.V., LSI Industries Inc., Juno Lighting Group, Hubbell Lighting, Inc. and others.
The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global lighting fixtures market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global lighting fixtures market.
Detailed Segmentation:
Global Lighting Fixtures Market, By Product Type:
Ceiling, Pendant and Chandelier
Wall Mounted
Recessed
Portable
High Bay and Low Bay
Others (Emergency Lighting, Track Lighting, and Fan)
Global Lighting Fixtures Market, By Application:
Industrial & Commercial
Residential
Outdoor
Architectural
Others(Automotive, Aerospace, and Machinery)
Global Lighting Fixtures Market, By Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Company Profiles
Acuity Brands, Inc.*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
Zumtobel Lighting GmbH
Cooper Lighting, LLC
Panasonic Corporation Eco Solutions Company
General Electric Company
OSRAM Licht AG
Koninklijke Philips N.V.
LSI Industries Inc.
Juno Lighting Group
Hubbell Lighting, Inc.
*Browse all the market data tables and figures on “Global Lighting Fixtures Market- Forecast to 2027”