The latest market report published by Credence Research, Inc. “Global Luxury Lighting Fixtures Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Luxury Lighting Fixtures Market generated revenue of around USD 18,280 million in 2021 and is anticipated to grow a CAGR of over 6.42% during the forecast period from 2021 to 2028 to reach around USD 29,202 million in 2028. While, cumulative growth opportunity presented by the global Luxury Lighting Fixtures is around USD 171.5 billion during 2022 to 2028.
Global Luxury Lighting Fixtures Market, 2021 – 2028 (USD Million)
The term light fixture, light fitting, or luminaire refers to an electrical appliance containing an electric lamp used to illuminate a space. The majority of light fixtures are comprised of a fixed body and one or multiple lamps. They may be in sockets for easy replacement, or, in the case of some LED lighting, they may be hardwired into the fixture itself. It is also possible that these fixtures have a switch for controlling the light, which can be either attached to the fixture body itself or connected to the power cord.
LED Lamps to Held the Largest Share
LED Lamps, HID Lamps, Fluorescent lights and Others are some of the important types of Luxury Lighting Fixtures production processes used across different region. However, LED Lamp is growing in demand owing to wide acceptance from end-users. While, fluorescent lights are likely to grow at a sluggish growth rate over the forecast period as compare to LED Lamps. HID Lamps will be the fastest growing segment during the analysis period.
Table Lamps to Grow at Rapid Pace
Table Lamps, Bath and Vanity, Floor Lamps, Chandeliers/Pendants, Outdoor Sconces, Linear lights, Wall Sconces and Others are major applications of the global Luxury Lighting Fixtures industry. Table lamps and Chandeliers/Pendants are most important segments of the global Luxury Lighting Fixtures market and held over 25% share in 2021. While, Bath & Vanity and floor lamps segments are likely to increase in demand in the years to come.
Hospitality to Hold Largest Share
Residential, Hospitality, Retail, Restaurant, MultiFamily (Condos), Office, Education, Government and Other are some of the major end-users of Luxury Lighting Fixtures. Hospitality segment is leading the demand for Luxury Lighting Fixtures followed by residential segment. Increasing disposable income is mainly fueling the demand for Luxury Lighting Fixtures in residential segment.
U.S. is Leading Luxury Lighting Fixtures Demand
U.S. is leading the Luxury Lighting Fixtures industry with over 35% share in 2021. Higher income levels and growing desire for luxury lifestyle in the regional is primary factors behind growth of this industry. Europe is second leading market for Luxury Lighting Fixtures with huge demand from UK, France and Germany. While, China, Japan and South Korea are dominating Asia Pacific Luxury Lighting Fixtures market.
Major players operating in the global Luxury Lighting Fixtures market include Alger Triton, Arteriors, Challenger Lighting Company, Curry and Company, Hammerton, Hinkley, Hubbarton Forge, Hudson Valley (Hudson Valley, Troy, Mitzi, Corbett), I Works, Illuminations, Meyda/ 2nd Ave., Renaissance, Renwil, Swarovski/Schonbek, Tech Lighting, Trinity lighting, Urban Electric and Visual Comfort. Global Luxury Lighting Fixtures market is characterized by the presence of large number of manufacturers across the world.
Global Luxury Lighting Fixtures Market by Type, 2016 – 2028
- LED Lamps
- HID Lamps
- Fluorescent lights
Global Luxury Lighting Fixtures Market by Application, 2016 – 2028
- Table Lamps
- Bath and Vanity
- Floor Lamps
- Outdoor Sconces
- Linear lights
- Wall Sconces
Global Luxury Lighting Fixtures Market by End-user, 2016 – 2028
- MultiFamily (Condos)
Global Luxury Lighting Fixtures Market by Technology, 2016 – 2028
Global Luxury Lighting Fixtures Market by Company, 2016 – 2028
- Biogas Products
- CNG Services
- EnviTec Biogas
- ETW Energietechnik GmbH
- Future Biogas Limited
- GM-Green Methane
- Green Elephant
- JV Energen
- Magne Gas
- Mailhem Ikos Environment
- Planet Biogas Global
- Schmack Carbotech