Global Lighting Fixtures and Luminaires Market to Reach $145.3 Billion by 2030: Surging Demand for LED Lighting Emerges as the Fundamental Growth Driver

Global Market for Lighting Fixtures and Luminaires

Dublin, July 10, 2023 (GLOBE NEWSWIRE) -- The "Lighting Fixtures and Luminaires: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.The global market for Lighting Fixtures and Luminaires estimated at US$84.1 Billion in the year 2022, is projected to reach a revised size of US$145.3 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2022-2030.

Non-Portable, one of the segments analyzed in the report, is projected to record a 7.4% CAGR and reach US$111 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Portable segment is readjusted to a revised 5.2% CAGR for the next 8-year period. The U.S. Market is Estimated at $16.1 Billion, While China is Forecast to Grow at 8.7% CAGRThe Lighting Fixtures and Luminaires market in the U.S. is estimated at US$16.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$31.6 Billion by the year 2030 trailing a CAGR of 8.7% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 5.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$27.2 Billion by the year 2030.Select Competitors (Total 645 Featured) -

Acuity Brands Lighting, Inc.

American Electric Lighting

Holophane

Juno Lighting Group

Lithonia Lighting

Amerlux, LLC

Bajaj Electricals Ltd.

Cree Lighting

GE Current

Eaton Corporation plc

ELK Group International, Inc.

Fagerhults Belysning AB

FW Thorpe Plc

Havells India Limited

Hella KGaA Hueck & Co.

Hubbell, Inc.

Koito Manufacturing Company Ltd.

LEDvance GmbH

LSI Industries, Inc.

Lutron Electronics Co., Inc.

NVC Lighting Technology Corporation

OMS, a.s.

OPPLE Lighting Co., Ltd.

Osram GmbH

Panasonic Corporation

Seren Lighting Ltd.

Schreder SA

Signify N.V.

Color Kinetics

Targetti Sankey S.p.A.

Technical Consumer Products, Inc.

Toshiba Lighting & Technology Corporation

TRILUX GmbH & Co. KG

Venture Lighting International, Inc.

Zumtobel Group AG

Thorn Lighting Ltd.

Key Attributes:

Report Attribute

Details

No. of Pages

1667

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$84.1 Billion

Forecasted Market Value (USD) by 2030

$145.3 Billion

Compound Annual Growth Rate

7.1%

Regions Covered

Global

Key Topics Covered: I. METHODOLOGYII. EXECUTIVE SUMMARY1. MARKET OVERVIEW

Impact of COVID-19 Pandemic and Looming Global Recession

2020: A Year of Disruption & Transformation

As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?

World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022

COVID-19 Pandemic Impacts Smart Lighting Market

Smart Lighting Solutions to be part of Recovery Plans of European Countries

Home Office Trend Drives Demand for Lighting with Smart Features

IoT- and LED-Powered Platforms to Allow Safe Return of People to Workplaces

COVID-19 Pandemic Fuels Demand for Touch Free LED Lighting Devices

An Introduction to Lighting Fixtures and Luminaires

Types of Lighting Fixtures

End-Use Sectors

Lighting Fixtures and Luminaires: Shaping the Future of Energy Efficient Lighting Technologies

Global Market Prospects & Outlook

Developing Regions Poised to Record Healthy Gains

Construction Activity: A Key Demand Determinant

World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022

Investments in Infrastructure Projects Support Market Demand

Projected Infrastructure Investment Needed (in US$ Trillion) by Region Over the Period 2016-2040

Global Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040

Competition

An Intensely Competitive Marketplace

Lighting Fixtures and Luminaires Competitor Market Share Scenario Worldwide (in %): 2020

LED Luminaires Market Share Breakdown by Leading Competitors (in %): 2020

Leading Players in the Global General Lighting Market (In %) for 2020

M&A Emerges as Viable Approach Amid Growing Competition

World Brands

Recent Market Activity

Lighting Fixtures and Luminaires - Global Key Competitors Percentage Market Share in 2021 (E)

Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)

2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS

Prominent Technologies and Trends with Potential to Transform Lighting Industry

IoT and Artificial Intelligence Gain Significance in Lighting Applications

Surging Demand for LED Lighting Emerges as the Fundamental Growth Driver for the Market

Typical LED Downlight Luminaire Cost (In %) by Component

Global LED Lighting Market by Segment (in %) for 2020

LED Lamps and Luminaires' Penetration Varies Across General Lighting Segments

LED Luminaires Adoption in Commercial Buildings Set to Increase

Wider Uptake of LED Lighting in Industrial Facilities to Drive Demand for Industrial LED Luminaires

Efficiency Requirements Boost LED Luminaires Demand

LED Outdoor Lighting Poised for High Adoption in the Future

Global LED Lighting Market by Application (in %): 2020

LED Lighting Adoption Faster in Countries with High Power Costs

High Power Costs Supports Adoption of LED Lighting Systems: Household Electricity Prices (in US$ per kWh) by Country (December 2020)

OLED Lighting Remains a Niche Category

Demand for Waterproof LED Luminaires Witnesses a Surge

Government Policies Spur Adoption of Energy Efficient Lamps and Luminaires

LED Lighting for Hazardous Environments

Advances in Foundation Technology and Processes Allow LEDs to become Smarter

Advances in LED Domain Allow Luminaires to Evolve at Lighting Speed

Lighting Innovations to Support Performance, Quality and Connectivity

Increasing Adoption of LEDs in Innovative Niche Lighting Markets Favor Market Expansion

Proliferation of Smart Lighting, Connected Home Technology and Digitization Drive Healthy Market Growth

Global Smart Lighting Market by Application (in %) for 2020

Global Smart LED Lighting Market by Distribution Channel (in %): 2020

Superior Attributes of Smart Lighting over Traditional Lighting to Boost Market Prospects

Smart Intelligent LED Lighting Catalyzes Growth Prospects

Commercial Lighting: Adoption of Smart Lighting Systems Surges As a Measure to Cut Energy Costs

Lighting Technology Advancements for Commercial Buildings

An Insight into Top Trends in Commercial Lighting

Residential Sector: A Potential Laden Application Segment in the Long Run

Smart Lighting for Homes Surges amidst the Pandemic

Demand Rises for Smart, Energy Efficient Lighting Systems in Industrial Applications

Connected, Embedded, and Sustainable Lighting Drive Enormous Changes in Luminaire Design and Functionality

Connected Lighting to Witness Emergence of Several New Trends

Lighting Controls in Fixtures Offer Higher Savings, Energy Efficiency, and Space Efficiency, Augurs Well for Market Expansion

Controls for Connected, Intelligent, and Advanced LED luminaires

Rise of Smart Cities and Focus on Smart Energy Management Opens Up Opportunities for Smart Lighting Products

Global Market for Smart City Technologies in US$ Million for the Years 2019 and 2025

Smart Lighting Systems Find High Demand from Street Lighting Networks

Connected Street Lighting to Surge Post Pandemic

New Smart City Projects Spur Market Growth for Smart Street Lighting Systems

Consumer Spending on Smart Home Technologies Gathers Steam, Presenting Opportunities for Smart Lighting Solutions

Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025

Global Smart Home Market Breakdown by Technology (in %) for 2018 and 2022

Demand Rises for Energy Efficient Lighting Systems in Industrial Applications

Lighting Technologies for Industrial Spaces: Features, Rated Hours and Applications

Modernization Initiatives to Spur Demand for Industrial Luminaires

Latest Trends and Innovations in Industrial LED Lighting Industry

Smart Lighting Deployments Gain Momentum in Government Buildings and Public Lighting

Smart Lighting Solutions to Meet Needs of Healthcare Facilities

Advances in Lighting System & Controls Drive Adoption in Healthcare Facilities

Automotive Remains a Core End-Use Sector for Lighting Systems

Global Automotive Lighting Market by Technology (in %) for 2020

Global Automotive Lighting Market Breakdown (in %) by Segment: 2020

Pandemic's Impact on Automobile Production Affects Vehicular Lighting Products Market

World Automobile Production in Million Units for 2008-2022

Automobile Production % YoY Change Across Select Countries: 2020 Vs 2019

Noteworthy Trends in Next-Generation Automotive Lighting

Laser Light Represents Cornerstone Technology for Automotive Headlight

Stylish and Decorative Luminaires Drive Market Growth for Architectural Fixtures

Global Architectural LED Market by Application (in %) for 2020

Sculptural Lighting Fixtures Stand to Make Gains

Innovative Architectural Lighting Trends & Innovations

Home Decor Trends Drive the Portable Lighting Fixtures Market

Specialty Lighting Applications to Boost Demand for Smart Lighting Systems

UV Light Emerges as Important Weapon in War against COVID-19 Pandemic

Continuous Innovations & Changing Design Trends: The Mark of Lighting Fixtures Market

Transformative Trends in Lighting Designs

Lighting Design Considerations for a Post-COVID World

Emerging Lighting Trends: An Overview

Review of Select Interior Lighting Design Trends

Fixture Designs Impact Performance and Environment

Key Design Trends in the Lighting Fixtures Market

A Review of Select Innovative LED Fixtures

Lighting Decor Trends

Demographic and Socioeconomic Trends Influence Market Prospects

Ballooning Global Population

World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100

Urbanization Trend

World Urban Population in Thousands: 1950-2050P

Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050

Growing Middle Class Population

Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030

Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030

Improving Standards of Living

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/hwuwtz

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Global Market for Lighting Fixtures and Luminaires