Lighting Fixtures Gone Advance Novel Lighting Technologies Such As LED And OLED Promise Optimal Functioning
The global lighting market is transitioning from traditional lighting
technologies to novel and more energy-efficient technologies such as
OLED and LED lamps, which is a key factor driving the market for
lighting fixtures. Rapid expansion of the construction industry
around the world has triggered rapid infrastructural development
primarily in rural and semi-urban areas. This has substantially
increased the installation of lighting fixtures in public,
residential, and commercial buildings. The market for lighting
fixtures thus gains impetus from the rising construction activities
worldwide.
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Global Lighting Fixtures Market Witnessing Varying Impact from
Increased LED Installations
Swifter erosion of LED prices may lead to an increased market share
for LED lighting fixtures in the near future. Demand from both
residential and commercial sectors for lighting fixtures is likely to
increase in forthcoming years. With surging investments to fuel
construction activities around the world, the demand for lighting
fixtures is anticipated to increase across the residential,
commercial, and industrial sectors. Rising demand for more
energy-efficient light sources that last for longer periods also
boosts the market for lighting fixtures. However, as noted in market
surveys, the prevailing demand structure will gradually shift towards
fixtures and lighting systems in the general lighting market. With
expansion of architectural activities, the demand for lighting
fixtures is expected to increase.
APAC Lighting Fixtures Demand Expected to Rise
The revenue generated globally through lighting fixtures is expected
to reach US$215.29 bn by the end of 2021. This market is expected to
progress at a CAGR of 6.9% between a forecast period from 2015 to
2021. Owing to its high-population-density countries and the rapid
industrialization of emerging economies, the Asia Pacific region is
expected to reach US$82.26 bn in lighting fixtures revenue by 2021.
It is expected to consistently lead the market between 2015 and 2021.
Of the various application sectors that require lighting fixtures,
the industrial and commercial sectors have constantly dominated the
demand by revenue. By the end of 2021, these sectors will
collectively generate a revenue of US$89.93 for lighting fixtures
players globally.
The information presented in this review is based on a Transparency
Market Research report, titled, “Lighting Fixtures Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 –
2021.”
Read Full Report @
http://www.transparencymarketresearch.com/lighting-fixture-market.html
The top producers of lighting fixtures across the world are
Koninklijke Philips N.V., Acuity Brands, Inc., Hubbel Lighting, Inc.,
Cooper Lighting, LLC, Zumtobel Lighting GmbH, LSI Industries, Juno
Lighting Group and Bajaj Electricals Ltd.
Key Takeaways:
- China takes up largest revenue share in lighting fixtures market, expected to reach US$45.47 bn by 2021
- North America revenue from lighting fixtures expected to reach US$64.10 bn by 2021
- Recessed lighting fixtures expected to lead the market revenue for now, expected value to be US$58.38 bn by 2021
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