Market Analysis: Global Residential Lighting Market
Global residential lighting market is expected to register a substantial CAGR of 5.09% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growth levels of urbanization globally, as well as the rise in levels of construction of residential infrastructures worldwide.
Market Definition: Global Residential Lighting Market
Residential lighting can be defined as the illuminating/lighting devices that are utilized in various residential households to provide desirable aesthetic and artificial lighting. These lighting products are powered through an external power sources providing an artificial lighting solution. With growing prevalence of IoT and smart homes, manufacturers have started integrating the lighting products with smart homes and providing customized illuminating devices according to the need of the users.
- Rapid innovations and advancements in technologies in the market; this factor is expected to flourish the growth of the market
- Significant rise in the levels of smart homes and integration of IoT services globally resulting in greater usage of smart residential lighting; this factor is expected to enhance the growth of the market
- Presence of certain regulations and compliances regarding the usage of incandescent bulbs due to their environmental effects resulting in greater adoption of LED lighting; this factor is expected to drive the growth of the market
- Increasing levels of rivalry from cheaper products manufactured in the China region; this factor is expected to restrain the growth of the market
- Presence of lower quality of products flooding the market resulting in hindrance towards the adoption of these products; this factor is expected to restrain the growth of the market
Segmentation: Global Residential Lighting Market
- Recessed Fixture
- Flush Mount
- Vanity Fixture
- Under Cabinet
By Lighting Source
- Light-Emitting Diode (LED) & Organic Light-Emitting Diode (OLED)
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In April 2018, Lutron Electronics Co., Inc announced that they had agreed to acquire Ketra. Ketra’s lighting products will be integrated with Lutron’s lighting control and together they will be able to provide for residential applications as well as in commercial environments.
- In March 2018, Masco Corporation announced that they had completed the acquisition of The L.D. Kichler Co. for an approximate amount of USD 550 million. This acquisition will improve the product portfolio of Masco Corporation for lighting products for residential and commercial end-users.
Competitive Analysis: Global Residential Lighting Market
Global residential lighting market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of residential lighting market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players: Global Residential Lighting Market
Few of the major competitors currently working in the global residential lighting market are Cree, Inc.; Koninklijke Philips N.V.; Hubbell; GENERAL ELECTRIC COMPANY; Signify Holding; Osram; ACUITY BRANDS LIGHTING, INC.; Panasonic Corporation; Masco Corporation; Eaton; Kenroy Home; Briloner Leuchten; Legero Lighting India Pvt Ltd; NICHIA CORPORATION; Semiconductor Co., Ltd.; Zumtobel Group; EVERLIGHT; Hinkley Lighting; IKIO LED LIGHTING; Generation Lighting; Artcraft Lighting; Whitecroft Lighting; Airfal International; Nessa.in; Lutron Electronics Co., Inc; Havells India Ltd.; New Sunshine and LEDURE LIGHTINGS LIMITED.
Research Methodology: Global Residential Lighting Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved