DUBLIN--(BUSINESS WIRE)--The "Lighting Fixtures Market, by Product Type, by Application, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
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 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. 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.
Key features of the study:
- This report provides an in-depth analysis of the global light fixtures market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2022 to 2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
- It profiles leading players in the global light fixtures market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
- The global light fixtures market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global light fixtures market
Market Segmentation
Global Light 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 Light Fixtures Market, By Application:
- Industrial & Commercial
- Residential
- Outdoor
- Architectural
- Others(Automotive, Aerospace, and Machinery)
Global Light Fixtures Market, By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Company Profiles
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/a7e085
