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Decorative Lighting Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 120
  • SKU: IRTNTR44900
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The decorative lighting market share is expected to increase by USD 8.32 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.75%.

This decorative lighting market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers decorative lighting market segmentation by product (ceiling, wall-mounted, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The decorative lighting market report also offers information on several market vendors, including AB Fagerhult, Acuity Brands Inc., Amerlux LLC, Bridgelux Inc., Capital Lighting Fixture Co., Crenshaw Lighting, Feit Electric Co. Inc., General Electric Co., Generation Lighting, Honeywell International Inc., Hubbell Inc., Hudson Valley Lighting Inc., IDEAL INDUSTRIES Inc., The Jaquar Group, Maxim Lighting International, Nichia Corp., OSRAM GmbH, Shimera Project Lighting Pvt. Ltd., Signify NV, and Voylite among others.

What will the Decorative Lighting Market Size be During the Forecast Period?

Decorative Lighting Market Size

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Decorative Lighting Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The evolving lighting product design concept leading to premiumization is notably driving the decorative lighting market growth, although factors such as the perceived value gap of customers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the decorative lighting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Decorative Lighting Market Driver

The evolving lighting product design concept leading to premiumization is one of the key drivers supporting the decorative lighting market growth. Interior designers introduced innovative and attractive design concepts such as traditional, modern, contemporary, and transitional. Decorative lighting products such as luxury chandeliers designed by interior designers are available at premium prices. These chandeliers enjoy huge demand among high-net-worth residential users. Several luxurious decorative lighting products are manufactured in Italy, the UK, Spain, Germany, and the US. Thus, the premiumization of decorative lighting products through distinctive design concepts has led to increased adoption by premium customers contributing to market growth, which is expected to continue during the forecast period.

Key Decorative Lighting Market Trend

The increasing use of smart lighting systems is one of the key decorative lighting market trends that is contributing to the market growth. Smart lighting systems are used in decorative lighting products such as chandeliers, lamps, string or tape lights, and pendants in which smart LEDs are used. For instance, Signify came up with Philips Hue, a smart lighting system that uses wireless technology for smart connectivity. Philips Hue products can be connected wirelessly using Wi-Fi and Bluetooth technologies. In addition, Philips Hue's smart lighting system can be controlled through voice-control platforms such as Amazon Alexa, Siri (by Apple), Google Assistant, and Cortana (by Microsoft). Hence, the rising use of smart lighting systems will drive market growth during the forecast period.

Key Decorative Lighting Market Challenge

The perceived value gap of customers is one of the factors hindering the decorative lighting market growth. For instance, the priority for customers is to purchase decent-quality decorative lighting products at affordable prices. However, their design may vary. This is due to the presence of many retailers offering multiple designs. The presence of many local retailers makes the market more fragmented, therefore making the penetration of international brands difficult. This creates a high-value gap while buying decorative lighting products, which are more design-driven. The prices of decorative lighting products vary according to distinctive designs. This creates a challenge for established brands and influences them to lower the prices of their products, thereby, hindering the market growth. 

This decorative lighting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global decorative lighting market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the decorative lighting market during the forecast period.

Who are the Major Decorative Lighting Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • AB Fagerhult
  • Acuity Brands Inc.
  • Amerlux LLC
  • Bridgelux Inc.
  • Capital Lighting Fixture Co.
  • Crenshaw Lighting
  • Feit Electric Co. Inc.
  • General Electric Co.
  • Generation Lighting
  • Honeywell International Inc.
  • Hubbell Inc.
  • Hudson Valley Lighting Inc.
  • IDEAL INDUSTRIES Inc.
  • The Jaquar Group
  • Maxim Lighting International
  • Nichia Corp.
  • OSRAM GmbH
  • Shimera Project Lighting Pvt. Ltd.
  • Signify NV
  • Voylite

 

This statistical study of the decorative lighting market encompasses successful business strategies deployed by the key vendors. The decorative lighting market is fragmented and the vendors are deploying growth strategies such as product quality, product innovation, product pricing, and product portfolio to compete in the market.

Product Insights and News

  • AB Fagerhult - The UK and Ireland segment includes the operations of the company in the UK and Ireland. The company offers its decorative lightings under the brand names ateljé Lyktan, iGuzzini, LED Linear, and WE-EF.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The decorative lighting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Decorative Lighting Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the decorative lighting market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Decorative Lighting Market?

Decorative Lighting Market Market segmentation by region

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49% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the decorative lighting market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Rising disposable income will facilitate the decorative lighting market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 originated in China and later spread into APAC. This had a negative impact on the regional market. However, in 2021, the initiation of mass COVID-19 vaccination drives by the governments of APAC countries led to the lifting of lockdown restrictions and the resumption of activities in offline retail channels. Thus, such factors are expected to drive the growth of the regional market during the forecast period.

What are the Revenue-generating Product Segments in the Decorative Lighting Market?

Decorative Lighting Market Segmentation

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The decorative lighting market share growth in the ceiling segment will be significant during the forecast period. For example, flush mount lights do not have any gap between them and the ceiling. Based on the gap between the lights and the ceiling, the difference between semi-flush and flush-mounted lights can be easily determined. Semi-flush mount lights are attached to the ceiling with supporting parts that create a gap. Kitchen island lights, pool table lights, buffet lamps, and outdoor ceiling lights are other types of ceiling lights. These lights are available in contemporary, transitional, and modern designs and patterns. These products contribute to the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the decorative lighting market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Decorative Lighting Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.75%

Market growth 2022-2026

$ 8.32 billion

Market structure

Fragmented

YoY growth (%)

3.67

Regional analysis

APAC, Europe, North America, South America, the Middle East and Africa

Performing market contribution

APAC at 49%

Key consumer countries

US, China, Japan, Germany, and the UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB Fagerhult, Acuity Brands Inc., Amerlux LLC, Bridgelux Inc., Capital Lighting Fixture Co., Crenshaw Lighting, Feit Electric Co. Inc., General Electric Co., Generation Lighting, Honeywell International Inc., Hubbell Inc., Hudson Valley Lighting Inc., IDEAL INDUSTRIES Inc., The Jaquar Group, Maxim Lighting International, Nichia Corp., OSRAM GmbH, Shimera Project Lighting Pvt. Ltd., Signify NV, and Voylite

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Decorative Lighting Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive decorative lighting market growth during the next five years
  • Precise estimation of the decorative lighting market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the decorative lighting industry across APAC, Europe, North America, South America, and the Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of decorative lighting market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Electrical components and equipment market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Analysis
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Ceiling - Market size and forecast 2020-2025
      • Exhibit 17: Ceiling - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Ceiling - Year-over-year growth 2020-2025 (%)
    • 5.4 Wall-mounted - Market size and forecast 2020-2025
      • Exhibit 19: Wall-mounted - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Wall-mounted - Year-over-year growth 2020-2025 (%)
    • 5.5 Others - Market size and forecast 2020-2025
      • Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Market Segmentation by Distribution channel

    • 6.1 Market segments
      • Exhibit 24: Distribution channel - Market share 2020-2025 (%)
    • 6.2 Comparison by Distribution channel
      • Exhibit 25: Comparison by Distribution channel
    • 6.3 Offline - Market size and forecast 2020-2025
      • Exhibit 26: Offline - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Offline - Year-over-year growth 2020-2025 (%)
    • 6.4 Online - Market size and forecast 2020-2025
      • Exhibit 28: Online - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Online - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Distribution channel
      • Exhibit 30: Market opportunity by Distribution channel

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 32: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 33: Geographic comparison
    • 8.3 APAC - Market size and forecast 2020-2025
      • Exhibit 34: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 35: APAC - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 36: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 North America - Market size and forecast 2020-2025
      • Exhibit 38: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: North America - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 40: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 44: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 45: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • Exhibit 46: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Overview
          • Exhibit 47: Vendor landscape
        • 10.2 Competitive scenario
          • 10.3 Landscape disruption
            • Exhibit 48: Landscape disruption
            • Exhibit 49: Industry risks

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 50: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 51: Market positioning of vendors
          • 11.3 AB Fagerhult
            • Exhibit 52: AB Fagerhult - Overview
            • Exhibit 53: AB Fagerhult - Business segments
            • Exhibit 54: AB Fagerhult - Key news
            • Exhibit 55: AB Fagerhult - Key offerings
            • Exhibit 56: AB Fagerhult - Segment focus
          • 11.4 Acuity Brands Inc.
            • Exhibit 57: Acuity Brands Inc. - Overview
            • Exhibit 58: Acuity Brands Inc. - Business segments
            • Exhibit 59: Acuity Brands Inc. - Key news
            • Exhibit 60: Acuity Brands Inc. - Key offerings
          • 11.5 Bridgelux Inc.
            • Exhibit 61: Bridgelux Inc. - Overview
            • Exhibit 62: Bridgelux Inc. - Product and service
            • Exhibit 63: Bridgelux Inc. - Key news
            • Exhibit 64: Bridgelux Inc. - Key offerings
          • 11.6 General Electric Co.
            • Exhibit 65: General Electric Co. - Overview
            • Exhibit 66: General Electric Co. - Business segments
            • Exhibit 67: General Electric Co. - Key news
            • Exhibit 68: General Electric Co. - Key offerings
            • Exhibit 69: General Electric Co. - Segment focus
          • 11.7 Generation Lighting
            • Exhibit 70: Generation Lighting - Overview
            • Exhibit 71: Generation Lighting - Product and service
            • Exhibit 72: Generation Lighting - Key offerings
          • 11.8 Honeywell International Inc.
            • Exhibit 73: Honeywell International Inc. - Overview
            • Exhibit 74: Honeywell International Inc. - Business segments
            • Exhibit 75: Honeywell International Inc. - Key news
            • Exhibit 76: Honeywell International Inc. - Key offerings
            • Exhibit 77: Honeywell International Inc. - Segment focus
          • 11.9 IDEAL INDUSTRIES INC.
            • Exhibit 78: IDEAL INDUSTRIES INC. - Overview
            • Exhibit 79: IDEAL INDUSTRIES INC. - Product and service
            • Exhibit 80: IDEAL INDUSTRIES INC. - Key offerings
          • 11.10 Maxim Lighting International
            • Exhibit 81: Maxim Lighting International - Overview
            • Exhibit 82: Maxim Lighting International - Product and service
            • Exhibit 83: Maxim Lighting International - Key offerings
          • 11.11 OSRAM GmbH
            • Exhibit 84: OSRAM GmbH - Overview
            • Exhibit 85: OSRAM GmbH - Business segments
            • Exhibit 86: OSRAM GmbH - Key offerings
            • Exhibit 87: OSRAM GmbH - Segment focus
          • 11.12 Signify NV
            • Exhibit 88: Signify NV - Overview
            • Exhibit 89: Signify NV - Business segments
            • Exhibit 90: Signify NV - Key news
            • Exhibit 91: Signify NV - Key offerings
            • Exhibit 92: Signify NV - Segment focus

          12 Appendix

          • 12.1 Scope of the report
            • 12.2 Currency conversion rates for US$
              • Exhibit 93: Currency conversion rates for US$
            • 12.3 Research methodology
              • Exhibit 94: Research Methodology
              • Exhibit 95: Validation techniques employed for market sizing
              • Exhibit 96: Information sources
            • 12.4 List of abbreviations
              • Exhibit 97: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Decorative Lighting Market market growth will increase by $6908.53 million during 2022-2026.
            The decorative lighting market market is expected to grow at a CAGR of 4.75% during 2022-2026.
            Technavio has segmented the decorative lighting market market by product (Ceiling, Wall-mounted, and Others) ,distribution channel (Offline and Online) , and geographic (APAC, Europe, North America, South America, and MEA).
            AB Fagerhult, Acuity Brands Inc., Bridgelux Inc., General Electric Co., Generation Lighting, Honeywell International Inc., IDEAL INDUSTRIES INC., Maxim Lighting International, OSRAM GmbH, Signify NV are a few of the key vendors in the decorative lighting market market.
            APAC will register the highest growth rate of 47.38% among the other regions. Therefore, the decorative lighting market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the decorative lighting market market growth are:
            • Evolving lighting product design concept leading to premiumization
            • Increasing use of smart lighting systems
            The decorative lighting market market vendors should focus on grabbing business opportunities from the ceiling segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

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