Global Residential Lighting Market, By Lighting Source (Incandescent, Fluorescent, Light-Emitting Diode (LED) and Organic Light-Emitting Diode (OLED)), Fixtures (Recessed Fixture, Flush Mount, Vanity Fixture, Under Cabinet, Outdoor, Others), Product (Ceiling, Pendant and Chandeliers, Wall Mounted, Portable, Others), Distribution Channel (Offline, Online), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The residential lighting market size is valued at USD 23,062.77 million by 2028 is expected to grow at a compound annual growth rate of 6.20% in the forecast period of 2021 to 2028. Data Bridge Market Research report on residential lighting provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Residential lighting is the type of illuminating or lighting devices that are used in various residential households to provide desirable aesthetic and artificial lighting. These lighting products are powered through an outer power sources providing an artificial lighting solution.
The easy availability of cost-effective and attractive lights is expected to influence the growth of residential lighting market over the forecast period of 2021 to 2028. Also the increase in the levels of smart homes and integration of IoT services across the globe are also anticipated to flourish the growth of the residential lighting market. Furthermore, the presence of certain regulations and compliances regarding the usage of incandescent bulbs owing to their environmental effects resulting in high adoption of LED lighting is also likely to positively impact the growth of the market. Moreover, the high demand for decorative lighting in the residential segment and the high adoption of energy-efficient products such as LEDs & OLEDs are also expected create a huge demand for residential lighting as well as lifting the growth of the residential lighting market.
However, the rise in levels of rivalry from cheaper products manufactured in the China and lack of proper installation are expected to act as the major limitations for the growth of residential lighting in the above mentioned forecasted period, whereas the presence of lower quality of products can challenge the residential lighting market growth in the forecast period of 2021 to 2028.
Likewise, the high adoption of LED lights to replace the traditional incandescent lights and rapid urbanization in emerging economies are expected to create various new opportunities that will lead to the growth of the residential lighting market in the above mentioned forecasted period.
This residential lighting market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the residential lighting market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Residential Lighting Market Scope and Market Size
The residential lighting market is segmented on the basis of lighting source, fixtures, product and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The residential lighting market is segmented on the basis of lighting source into incandescent, fluorescent and light - emitting diode (LED) and organic light-emitting diode (OLED).
- On the basis of fixtures, the residential lighting market is segmented into Recessed Fixture, flush mount, vanity fixture, under cabinet, outdoor and others.
- Based on product, the residential lighting market is segmented into ceiling, pendant and chandeliers, wall mounted, portable and others.
- The distribution channel segment of the residential lighting market is segmented into offline and online.
Residential Lighting Market Country Level Analysis
The residential lighting market is analyzed and market size, volume information is provided by country, lighting source, fixtures, product and distribution channel as referenced above.
The countries covered in the residential lighting market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
Asia-Pacific leads the residential lighting market because of the high spending on electrification and urbanization by the regional governments. Middle East and Africa is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 owing to high consumption of lighting products.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Residential Lighting Market Share Analysis
The residential lighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to residential lighting market.
The major players covered in the residential lighting market report are Cree Lighting, Koninklijke Philips N.V., Hubbell, GENERAL ELECTRIC COMPANY, OSRAM Opto Semiconductors GmbH, ACUITY BRANDS LIGHTING, INC., Panasonic Corporation, Eaton, Kenroy Home, Briloner Leuchten GmbH & Co. KG, Legero Lighting India Pvt Ltd., NICHIA CORPORATION, Bridgelux, Inc., Zumtobel Group, EVERLIGHT, Hinkley, Inc., IKIO LED LIGHTING, Generation Lighting, Artcraft Lighting and Whitecroft Lighting among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.