Lighting fixture is an electronic device which is used to create artificial light by using an electrical lamp. Lighting fixture is very effective in terms of decoration and is used by lighting designers for decoration purposes. These fixtures are used in almost every sector such as resident, home décor, transportation and construction and others. Apart from that, lighting fixtures are produce sufficient amount of light and consume less amount of energy as compared to other conventional lighting systems.
Lighting Fixtures Market: Key Players
The research study includes profiles of leading companies operating in the global lighting fixtures market. Key players profiled in the report include: Everlight Electronics Co. Ltd., Siemens, General Electric, Koninklijke Philips N.V., Cree Inc., General Electric, Hubbell Lighting Inc., Acuity Brands Inc., Eaton Corporation & Panasonic Corporation.
Drivers for the Global Lighting fixtures Market:
Due to increase in government spending on smart cities and emergence of smart cities concept together lead to surge in demand for construction of smart building. Therefore increase in need for smart building is raising demand for energy saving infrastructure such as LED lighting fixture, which leads to growth of lighting fixture market globally. With rapid changing style, appearances, trend and fashion in lighting industry, consumers with high disposable incomes are switching and replacing lighting products to adopt newly launch lighting product, which leads to unnecessary dumping of working lighting products, owing to which the concept of refurbished lighting fixture market is trending currently. With rising benefits of LED lighting, old metal halide fixture are being replaced by LED lighting fixture to attain better lighting effects, cost saving amount and to promote energy saving products. Replacing old technology with new technology is a key trend adopted by indoor and outdoor lighting fixture that fuels the growth of the global lighting fixture market.
Opportunities for the Global Lighting fixtures Market:
Government of many regions are focusing on initiating various lighting projects, which are anticipated to propel the growth of lighting fixture infrastructure. While the lighting project focuses on electrifying the rural part of the regions particularly villages in MEA region and putting emphasis on eradicating traditional lighting product such as kerosene-based lighting products to reduce the negative effect of traditional lighting product on human health are the major factor, which is projecting to the significant growth of LED Lighting fixture market. Additionally, to create ambience at hotels and restaurants, owner of the respective places are spending in lighting fixtures to create an aesthetic and ambience for the visitors. Owing to increase in application of decorative lighting in restaurants, hotel, homes, offices and other such places are the major factor spurring the growth of the lighting fixtures market.
Restrains for the Global Lighting fixtures Market:
The presence of local vendors has affected the revenue of the global market. Furthermore , low cost offering by the local vendors is reducing the market share of the organized players. While the Lack of awareness regarding installation costs and payback periods are the factors hampering the growth of the market. However, the development of alternative technologies are the major restraints for the growth of this market. Moreover, a relatively high cost of LEDs and low penetration of wireless digital technology remain the primary growth inhibitors in Asia-Pacific countries such as China, India, and Latin America. Thus all these factors are hampering the growth of the market.
Region Wise, Global Lighting fixtures Market Analysis:
Report covers the region wise analysis, global Lighting fixtures market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global Lighting fixtures market share followed by North America & Europe. While the Asia Pacific leads the global Lighting fixtures market due to the High population density in key markets including China and India is a crucial factor for the regional growth. Furthermore, increasing spending on electrification and urbanization by the regional governments is expected to promote the utility of residential lighting fixtures. Thus all these factors are boosting the growth of the Lighting fixtures market in Asia-Pacific region.
Global Lighting fixtures Market: Product analysis
- Ceiling, Pendant and Chandelier Lighting Fixtures
- Wall Mounted Lighting Fixtures
- Recessed Lighting Fixtures
- Portable Lighting Fixtures
- High Bay and Low Bay Lighting Fixtures
- Others
Global Lighting fixtures Market: Application analysis
- Industrial and Commercial
- Residential
- Outdoor
- Architectural
- Others
Global Lighting fixtures Market: Region analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- ASEAN
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of L.A.
- Middle East and Africa
- Turkey
- GCC
- UAE
- South Africa
- Rest of Middle East
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