The global decorative lighting market is anticipated to grow at a CAGR of 3.2% during the forecast period (2022-2028). Decorative lights cover all traditional kinds of light fittings such as floor lights, pendants, and many more which differentiates them from technical or architectural lightning. Decorative lighting is all about creating a mood and adding interest to a room by highlighting various objects and areas in the room such as painting. These lights can be used both inside the house and the outside. Lighting gives a pleasant look to space when these lights change the actual size of the room by creating a visually dynamic space.
Manufacturers are coming up with innovative ideas in terms of functionality, design, colors, and many more things. The availability of advanced technology in lighting and appealing light designs increases the demand for these decorative lighting. Additionally, change in the rapid lifestyle of the people owing to an increase in disposable income, and nowadays consumers are attracted to these LED lights as they are the perfect alternative for traditional lights and they are the best for decoration. All these factors are driving the growth of the global decorative lighting market. In addition, festivals and other occasions boost the growth of the market.
The market is segmented based on the light source, product, end-use, and distribution channel. Based on the product, the market is segmented into the ceiling, wall-mounted, and others. Ceiling lights are enhance the overall aesthetic look of any space. Most of them are less harsh and provide a distinct warmth to the ambiance. Mounted lights are fixtures that hang from the ceiling and these lights allow to be directed straight down from the light source.
Some major players in the market include Acuity Brands Lightning Inc., Koninklijke Philips NV, and General Electric Co., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. Maxim Lightning has over 6000 indoor and outdoor lighting products. Their new Outdoor light is named CABANA 1- Light brightens ups all areas of outdoor space and is available in various sizes.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Light Source
- By Product
- By End-Use
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Acuity Brands Lightning Inc., Koninklijke Philips NV, and General Electric Co., among others.
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Global Decorative Lighting Market Report by Segment
By Light Source
- LED
- Fluorescent
- Incandescent
- Others
By Product
- Ceiling
- Wall Mounted
- Others
By End-Use
- Commercial
- Household
By Distribution Channel
- Hypermarkets
- Supermarkets
- Specialty Stores
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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