Decorative Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Decorative Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global decorative lighting market size reached US$ 40.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 50.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.

Decorative lighting is an illumination source manufactured using incandescent, fluorescent and light-emitting diodes (LED) that emit faded or bright lights of different colors. Chandelier, ceiling, flush-mount, pendants, and sconce are some of the commonly used decorative lightings. These lights are available in various shapes, textures, styles, and sizes and can be customized accordingly. Decorative lighting assists in enhancing the beauty of living spaces and homes by increasing the overall aesthetics of the room. It can easily be hardwired or plugged into an outlet and powered using a battery or solar energy. It can also be used in indoor and outdoor lighting to highlight various models, paintings, and objects in rooms and halls. As a result, decorating lightings are widely used across salons, restaurants, and households.

Decorative Lighting Market Trends:

The increasing demand for decorative lighting in the residential and commercial sectors is one of the key factors driving the growth of the market. Decorative lighting aids in illuminating workspaces within the home and is widely used in ceilings, tables, kitchens, walls, and under cabinets. In line with this, the changing design styles and trends in interior designing toward creating space, improving space efficiency, lighting effect, and enhancing aesthetic appeal is favouring the market growth. Moreover, various technological advancements, such as the introduction of smart sensors in decorative lighting, is providing a considerable boost to the market growth. Additionally, the increasing demand for decorative lighting has compelled the key manufacturers to collaborate and introduce umpteen other advanced product variants, such as sensor-based decorative lighting, which is providing an impetus to the market growth. Apart from this, the rising expenditure capacities of the consumers and the implementation of various government initiatives to enhance infrastructural development are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global decorative lighting market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, light source, distribution channel and end user.

Breakup by Product Type:

Chandelier

Pendant

Sconce

Flush Mount

Ceiling Mount

Wall Mount

Others

Breakup by Light Source:

LED

Fluorescent

Incandescent

Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets

Specialty Stores

Online Stores

Others

Breakup by End User:

Commercial

Household

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Acuity Brands Inc., Bridgelux Inc., Crest LED Lighting, Fagerhults Belysning AB, General Electric Company, Honeywell International Inc., Hubbell Incorporated, Ideal Industries Inc., Maxim Lighting, Nichia Corporation, Osram Licht AG (ams AG) and Signify Holding.

Key Questions Answered in This Report:

How has the global decorative lighting market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global decorative lighting market?

What are the key regional markets?

What is the breakup of the market based on the product type?

What is the breakup of the market based on the light source?

What is the breakup of the market based on the distribution channel?

What is the breakup of the market based on the end user?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global decorative lighting market and who are the key players?

What is the degree of competition in the industry?