Lighting fixture Market Size Worth $191.80 Billion By 2032 | CAGR: 6.40%

The global lighting fixture market size is expected to reach USD 191.80 billion by 2032, according to a new study by Polaris Market Research. The report “Lighting Fixture Market Share, Size, Trends, Industry Analysis Report, By Product (Ceiling, Pendant & Chandeliers, Wall Mounted, Recessed, Portable, High Bay and Low Bay, Others); By Source; By Application; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The Lighting fixture is an electrical device having an electric lamp that illustrates. The primary components of a lighting fixture contain a socket for retaining purposes and a fixture body. These fixtures with an electrical light are termed a luminaire. Furthermore, the lighting fixture comprises reflectors, electric ballast, an outer shell, and an aperture that acts as a shielding covering for the electric lamp. Over the years, these fixtures have developed from fluorescent and conventional lighting to energy-efficient lighting such as LED lamps.

The demand for lighting fixtures is expected to grow substantially due to the increasing consumer preference for upgraded domestic lighting and the rapid development of the real estate sector. The rising number of high-class communities also fuels the demand for yard lamps.

In the commercial sector, there is a growing adoption of lighting fixtures, particularly LED light modules. The ability of these fixtures to enhance the overall ambiance and aesthetic appeal of a place is driving their demand.

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One of the key factors contributing to the increasing adoption of LED lights is their energy efficiency. LED lights, like fluorescent and incandescent bulbs, consume 80% less energy than conventional ones. Additionally, LED bulbs do not contain toxic materials, unlike fluorescent bulbs. These advantages are prompting consumers to switch from traditional lights to LED lights.

Furthermore, the global movement to phase out traditional lighting in countries like China, Brazil, and various European nations is expected to impact LED light adoption significantly.

Furthermore, the emergence of elegant and connected LED lights is poised to become the next trend in smart home projects. This enterprise has significantly transformed from analog to digital systems, empowering users to control, measure, and monitor light efficiency. The integration of wireless lighting, dimmers, and advanced power devices with sophisticated detectors will cater to the demands of modern consumers. Smart bulbs with Wi-Fi connectivity allow users to seamlessly control factors such as warmth, brightness, and even multiple color options through IoT (Internet of Things) technology.

Lighting Fixture Market Report Highlights

• In 2022, the fluorescent lamps segment held the largest revenue share in the Lighting Fixture Market. Fluorescent lamps offer better characteristics than incandescent lamps, such as lower power consumption and longer lifespan. The demand for fluorescent light fixtures has been driven by their compatibility, brightness, and improved quality of light.
• The online channel segment is expected to accounted for the fastest market share during the forecast period. Online platforms provide a wide range of lighting fixtures, easy accessibility, and the ability to compare prices and reviews. Additionally, online retailers often offer competitive pricing and discounts. As a result, the online channel is expected to witness rapid growth and emerge as a dominant distribution channel in the Lighting Fixture Market.
• The Asia Pacific region dominated the largest market share in 2022 due to the increasing government support for energy-efficient lighting, exemplified by initiatives like the DELP scheme in India and the active promotion of energy conservation and environmental protection measures in countries like China. These factors drive the demand for energy-efficient lighting fixtures and propelling market growth in the region.
• North America is expected to witness the fastest growth in the lighting fixtures market due to the increasing demand for wireless lighting fixtures. Major regional companies are developing these fixtures to benefit from advantages like long-distance control, programmability, energy efficiency, and extended lifespan.
• The global key market players include Cooper Lighting, Cree Inc, Eaton Corporation, Everlight Electronics Co., Ltd., General Electric, Juno Lighting Group, Koninklijke Philips N.V., Nichia Corporation, OSRAM Licht AG, Panasonic Corporation, Siemens, Zumtobel Lighting GmbH.

Polaris Market Research has segmented the lighting fixture market report based on product, source, application, distribution channel, and region:

Lighting Fixture, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Ceiling
• Pendant & Chandeliers
• Wall Mounted
• Recessed
• Portable
• High Bay and Low Bay
• Others

Lighting Fixture, Source Outlook (Revenue - USD Billion, 2019 - 2032)

• Incandescent Lamps
• Fluorescent Lamps
• LED & OLED

Lighting Fixture, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Industrial & Commercial
• Residential
• Outdoor
• Architectural

Lighting Fixture, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Offline Channel
• Online Channel

Lighting Fixture, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Lighting Fixture Market Report Scope