Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

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.

The global lighting fixtures market is estimated to account for US$ 349.92 Bn in terms of value by the end of 2027.

Market Dynamics- Drivers

  1. Rapid transition from conventional lighting technology to advanced lighting technology is expected to drive growth of the global lighting fixtures market during the forecast period

The global lighting industry is rapidly moving from conventional lighting technology such as incandescent and fluorescent lighting to advanced and energy-efficient LED lighting technology. Strict regulatory norms on energy consumption and rising consumer awareness regarding energy efficiency have led to a significant increase in demand for advanced lighting fixtures. Furthermore, the demand for better lighting including lighting distribution, color temperature, and color consistency is expected to drive growth of the market during the forecast period.

  1. High growth in construction industry is expected to propel the global lighting fixtures market growth over the forecast period

High demand for lighting fixtures is attributed to increase in construction activities worldwide, especially in emerging economies such as Africa, Latin America, and Asia Pacific. This is owing to increasing investment in construction industry leading to accelerated infrastructure development in public, commercial, residential, and utility sectors. Thus, these factors are expected to propel the global lighting fixtures market growth over the forecast period.

Statistics:

APAC held dominant position in the global lighting fixtures market in 2019, accounting for 38.2% share in terms of value, followed by North America, Europe and RoW respectively.

Figure 1: Global Lighting Fixtures Market Share (%), in terms of Value, By Region, 2019

Lighting Fixtures  | Coherent Market Insights

Market Dynamics- Restraint

  1. High initial investments are expected to hinder the global lighting fixtures market growth over the forecast period

Installation of lighting fixtures requires high initial investment. Advanced lighting fixtures such as LED lighting fixtures require high cost as compared to incandescent or fluorescent lighting fixtures. As a result of this, customers are unwilling to replace conventional lighting fixtures with advanced technologies, which in turn, is expected to hinder the global lighting fixtures market growth in the near future.

  1. Complex purchasing decision in lighting fixtures industry is expected to hamper the global lighting fixtures market growth during the forecast period

The purchasing decision of lighting fixtures is not made by end users alone though it involves different professionals including architects, lighting designers, and electrical engineers. The involvement of different professionals has led to the purchasing process being made complex, which in turn is restraining the growth of the lighting fixtures market. Hence, these factors are expected to restrict the market growth over the forecast period.

Market Opportunities

  1. Replacement of conventional fixtures with advanced fixtures can provide major opportunities

Retrofitting of conventional fixtures with advanced lighting fixtures is a major growth opportunity. These lighting fixtures are designed for optimal performance. Traditional lighting source technologies such as incandescent and fluorescent lighting are gradually phased out. Furthermore, advent of advanced lighting source technologies such as LED and OLED are aimed at reducing energy consumption, which boosts the demand for retrofitting activities. Increasing demand for advanced lighting is simultaneously opening new avenues for the lighting fixture manufacturers due to the installation of high-end advanced lighting fixtures that are retrofitting traditional lighting fixtures.

  1. Development of wireless technology for LED lighting solutions can offer major opportunities

Major companies in the market are focused on offering wireless technology in LED lighting solutions. Wireless LED solutions can be operated with smartphones, offering enhanced efficiency and energy savings. Thus, market players can capitalize on opportunities by providing novel solutions in the market and gain a competitive edge.

Figure 2: Global Lighting Fixtures Market Value (US$ Bn), 2017 - 2027

Lighting Fixtures  | Coherent Market Insights

The global lighting fixtures market was valued at US$ 186.30 Bn in 2019 and is forecast to reach a value of US$ 349.92 Bn by 2027 at a CAGR of 8.3% between 2020 and 2027.

Market Trends

  1. Product research and development is a major trend in the market

Key players involved in the market are focused on research and development activities, in order to innovate novel products. For instance, in May 2015, Acuity Brands Inc. launched complete lighting solutions powered with integrated LED lighting and control systems. Furthermore, Cooper Lighting LLC launched Halo ALLSLOPE light-emitting diode (LED) downlight system. This new product is specifically designed for slope ceiling applications in the residential, hospitality, retail, and institutional sectors. In October 2015, Juno Lighting Group introduced AccuLite ALX-Series LED high bay luminaires.

  1. High demand for smart homes is another major trend

The demand for smart homes is increasing rapidly, especially in developed countries such as the U.S, Canada, France, Germany, and the U.K. These smart home projects are incorporating smart lights with wireless technology and Wi-Fi-connected solutions. Moreover, there is high demand for motion-operated LED lights that save energy as well as costs.

Competitive Section

Major companies operating 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, and Hubbell Lighting, Inc.

Key Developments

  1. Major companies in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in September 2019, Acuity Brands Lighting Inc., a subsidiary of Acuity Brands, Inc., acquired The Luminaires Group, a major provider of specification-grade luminaries.
  2. Key players in the market are focused on mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in June 2017, OSRAM Licht AG acquired LED Engin Inc., a lighting solutions developer.

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 2019 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 (2020-2027), considering 2019 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”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Global Lighting Fixtures Market, By Product Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Ceiling, Pendant and Chandelier
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Wall Mounted
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Recessed
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Portable
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • High Bay and Low Bay
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others (Emergency Lighting, Track Lighting, and Fan)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  5. Global Lighting Fixtures Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Authorized Service dealer
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Industrial & Commercial
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Residential
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Outdoor
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Architectural
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others(Automotive, Aerospace, and Machinery)Local Application
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Lighting Fixtures Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • Acuity Brands, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Zumtobel Lighting GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Cooper Lighting, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Panasonic Corporation Eco Solutions Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • OSRAM Licht AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Koninklijke Philips N.V.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • LSI Industries Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Juno Lighting Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hubbell Lighting, Inc.Catalyst Retail Pvt. Ltd.
        • kCompany Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse XX market data tables and XX figures on “Global Lighting Fixtures Market-forecast to 2027”.

Frequently Asked Questions

The global Lighting Fixtures market size was valued at US$ 186.30 billion in 2019 and is estimated to exhibit a CAGR of 8.3% between 2020 and 2027.
Ceiling, Pendant & Chandelier segment held the major market share in 2019 owing to an Rapid transition from conventional lighting technology to advanced lighting technology is expected to drive growth of the global lighting fixtures market during the forecast period.
Major factor driving the growth of global Lighting Fixtures market during the forecast period Rapid transition from conventional lighting technology to advanced lighting technology, High growth in construction industry
Major factors hampering the growth of the Lighting Fixtures market during the forecast period constitutes of High initial investments
APAC Lighting Fixtures market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the 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, and Hubbell Lighting, Inc.
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