According to the latest report, titled “Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global lighting market size was USD 118.33 billion in 2019 and is projected to reach USD 163.72 billion by 2027, exhibiting a CAGR of 4.3% during the forecast period
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Lighting Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Lighting Market.
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A few top players in the industry are–
List of Key Companies Profiled:
- GE Lighting (Ohio, United States)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Panasonic Corporation (Osaka, Japan)
- OSRAM Licht AG (Munich, Germany)
- Schneider Electric SE (Rueil-Malmaison, France)
- Cree, Inc. (North Carolina, United States)
- CITIZEN ELECTRONICS CO., LTD. (Amanashi-ken, Japan)
- Lumerica (Vancouver, Canada)
- Havells India Ltd. (Uttar Pradesh, India)
- LEDtronics, Inc. (California, United States)
- Patriot LED (Ohio, United States)
- Acuity Brands, Inc. (Georgia, United States)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Lighting Market and the market concentration is described in the report.
On the basis of Geography, the Global Lighting Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Lighting Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Lighting Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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General Application to Rise Significantly in Upcoming Years: Fortune Business Insights™
Based on the lighting type, the market is categorized into LED, CFL, LFL, HID, halogens, incandescent, and others. By the application, it is segregated into general, automotive, backlighting, and others. Based on the end-user it is divided into, residential, commercial, and industrial. In terms of geography, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
However general application is expected to hold the major market share. In 2019, this segment stood at USD 93.4 billion. Automotive is also rising owing to increase usage of LEDs in Car interior and halogens in the headlights.
An overview of the Lighting Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Drivers & Restraints
Rising Construction Activities in Developing Economies to Propel Growth
Rising construction activities in developing economies such as India, China, and many African countries have opened up the massive potential for the growth of the artificial light market. Governments in these regions are working to provide homes to underprivileged populations. Thus fueling the market growth.
On the other hand, due to stringent government policies, many manufactures are facing difficulties to set new light manufacturing units. Besides, high investment in the R&D sector and reduced availability of raw materials, and lack of advanced manufacturing equipment in developing economies are obstructing the market growth.
- What is the driving factor for the growth of the Lighting Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Lighting Market?
- What is the major application area of the Lighting Market?
- Who are the Lighting Market manufacturers across the globe?
- Which geographical location is dominant in the Lighting Market?
- Which are the top industry players in the Lighting Market?
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