Decorative lighting market size to grow by USD 9,990.33 million between 2022 and 2027; Advent of personalization and customization of decorative lighting products identified as a key trend - Technavio

NEW YORK, May 5, 2023 /PRNewswire/ -- Technavio has been monitoring the decorative lighting market, and it is expected to grow by USD 9,990.33 million between 2022 and 2027. As per the latest report, the market will progress at a CAGR of 5.34% during the forecast period. This report aids business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. The advent of personalization and customization of decorative lighting products is identified as the key trend in the market. Vendors in the market are focused on providing personalized and customized products with growing design market, evolving decorative lighting trends, and rising consumer interest in home decoration. For instance, Hangout Lighting provides personalization and customization of its decorative lighting products, such as chandeliers and pendant lights. The company allows customers to personalize the lighting products as per their requirements. Customers can choose cord colors, ceiling plate finish, socket style, and types of bulbs in their chandeliers. This trend is encouraging many vendors in the market to offer personalization and customization options. All these factors will positively influence the market growth over the forecast period. Download the Latest Sample Report within minutes!

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB Fagerhult, Acuity Brands Inc., Amerlux LLC, Bridgelux Inc., Capital Lighting Fixture Co., Crenshaw Lighting, Feit Electric Co. Inc., GE CURRENT A DAINTREE COMPANY, Generation Lighting, Honeywell International Inc., Hubbell Inc., Hudson Valley Lighting Inc., IDEAL INDUSTRIES Inc., Lowes Co. Inc, Maxim Lighting International, OSRAM GmbH, Shimera Project Lighting Pvt. Ltd., Signify NV, The Jaquar Group, and Voylite are some of the major market participants.

Although the evolving lighting product design concept leading to premiumization will offer immense growth opportunities, the high use of alternative lighting products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market is driven by the evolving lighting product design concept leading to premiumization. The increasing demand for luxury products among consumers has encouraged vendors to focus on product premiumization. They are focused on product innovation by incorporating modern designs, use of high-quality materials, and adopting the latest trends in interior design. For instance, some vendors are introducing decorative lighting products, such as luxury chandeliers designed by interior designers. These products have a high price tag and are in high demand among high-net-worth residential users. All these factors are driving the growth of the market.

Decorative Lighting Market 2023-2027: Segmentation

• Distribution Channel 
• Offline
• Online
• Product 
• Ceiling
• Wall Mounted
• Others
• Geography 
• APAC
• Europe
• North America
• South America
• Middle East and Africa

The market growth in the offline distribution channel segment will be significant over the forecast period. Offline stores allow customers to check and feel the product before purchasing. These stores offer a large portfolio and support and information on products, which is crucial in driving sales. Besides, many customers opt for retail lighting stores, especially specialty stores, due to the insights and personal assistance that the sales force provides. It helps them understand innovative features, the latest designs, patterns, and technology integrated into the products. Such factors drive the growth of the segment.

APAC will account for 49% of the market growth during the forecast period. The growth of the regional market can be attributed to various factors, including rising disposable income, growing urbanization, growth in living standards of households, increase in online shopping trends, and the growing hospitality sector. The rising expenditure capacities of consumers and the implementation of various government initiatives to enhance infrastructural development are other major factors driving the growth of the decorative lighting market in APAC.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions, download a sample report

Decorative Lighting Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our decorative lighting market report covers the following areas:

• Decorative Lighting Market Size
• Decorative Lighting Market Trends
• Decorative Lighting Market Analysis
• Decorative Lighting Market Five Forces Analysis
• Decorative Lighting Market Competitive Landscape

Decorative Lighting Market 2023-2027: Market Challenge

The high use of alternative lighting products is identified as the major challenge hindering the growth of the market. Decorative lighting products face stiff competition from traditional lighting products. Traditional products, such as normal bulbs and tube lights, are economical and provide the required brightness. Hence, they are used heavily by mass consumers. The increasing availability of low-cost LEDs will also pose a challenge to vendors operating in the market. Moreover, increased government support toward the adoption of LED lights will further challenge the sales of decorative lighting as well as the growth of the market in focus.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Decorative Lighting Market 2023-2027: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the decorative lighting market. Backed with competitive intelligence and benchmarking, our research report on the decorative lighting market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

• AB Fagerhult - The company offers various types of indoor and outdoor decorative lighting.
• Acuity Brands Inc. - The company offers various types of indoor and outdoor decorative lighting.
• Bridgelux Inc. - The company offers various types of decorative lighting, which are state-of-the-art color lines designed specifically for premium applications, producing unmatched LED light quality with brilliant color-rendering options.
• Honeywell International Inc. - The company offers various types of indoor ceiling decorative LED lighting solutions.
• Amerlux LLC
• Crenshaw Lighting
• Feit Electric Co. Inc.
• GE CURRENT A DAINTREE COMPANY
• Generation Lighting
• Hubbell Inc.
• Hudson Valley Lighting Inc.
• IDEAL INDUSTRIES Inc.
• Lowes Co. Inc
• Maxim Lighting International
• OSRAM GmbH

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Decorative Lighting Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist decorative lighting market growth during the next five years
• Estimation of the decorative lighting market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the decorative lighting market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of decorative lighting market vendors

Related Reports:

The general lighting market is estimated to grow at a CAGR of 6.97% between 2022 and 2027. The size of the market is forecasted to increase by USD 50.7 billion. The market is segmented by product (LED lighting and traditional lighting), application (residential, commercial, outdoor, industrial, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The outdoor landscape lighting market is estimated to grow at a CAGR of 6% between 2022 and 2027. The size of the market is forecasted to increase by USD 704.78 million. The market is segmented by application (ATG and underwater), source (led and traditional), end-user (commercial and residential), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global decorative lighting market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global decorative lighting market 2017 - 2021 ($ million)

• 4.2 Distribution channel Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 42: Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 43: Chart on Product - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 45: Chart on Comparison by Product
• Exhibit 46: Data Table on Comparison by Product

• 7.3 Ceiling - Market size and forecast 2022-2027
• Exhibit 47: Chart on Ceiling - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Ceiling - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Ceiling - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Ceiling - Year-over-year growth 2022-2027 (%)

• 7.4 Wall mounted - Market size and forecast 2022-2027
• Exhibit 51: Chart on Wall mounted - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Wall mounted - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Wall mounted - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Wall mounted - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 55: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 59: Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 AB Fagerhult 
• Exhibit 112: AB Fagerhult - Overview
• Exhibit 113: AB Fagerhult - Product / Service
• Exhibit 114: AB Fagerhult - Key offerings

• 12.4 Acuity Brands Inc. 
• Exhibit 115: Acuity Brands Inc. - Overview
• Exhibit 116: Acuity Brands Inc. - Business segments
• Exhibit 117: Acuity Brands Inc. - Key news
• Exhibit 118: Acuity Brands Inc. - Key offerings
• Exhibit 119: Acuity Brands Inc. - Segment focus

• 12.5 Amerlux LLC 
• Exhibit 120: Amerlux LLC - Overview
• Exhibit 121: Amerlux LLC - Product / Service
• Exhibit 122: Amerlux LLC - Key offerings

• 12.6 Bridgelux Inc. 
• Exhibit 123: Bridgelux Inc. - Overview
• Exhibit 124: Bridgelux Inc. - Product / Service
• Exhibit 125: Bridgelux Inc. - Key offerings

• 12.7 Capital Lighting Fixture Co. 
• Exhibit 126: Capital Lighting Fixture Co. - Overview
• Exhibit 127: Capital Lighting Fixture Co. - Product / Service
• Exhibit 128: Capital Lighting Fixture Co. - Key offerings

• 12.8 Crenshaw Lighting 
• Exhibit 129: Crenshaw Lighting - Overview
• Exhibit 130: Crenshaw Lighting - Product / Service
• Exhibit 131: Crenshaw Lighting - Key offerings

• 12.9 GE CURRENT A DAINTREE COMPANY 
• Exhibit 132: GE CURRENT A DAINTREE COMPANY - Overview
• Exhibit 133: GE CURRENT A DAINTREE COMPANY - Product / Service
• Exhibit 134: GE CURRENT A DAINTREE COMPANY - Key offerings

• 12.10 Generation Lighting 
• Exhibit 135: Generation Lighting - Overview
• Exhibit 136: Generation Lighting - Product / Service
• Exhibit 137: Generation Lighting - Key offerings

• 12.11 Honeywell International Inc. 
• Exhibit 138: Honeywell International Inc. - Overview
• Exhibit 139: Honeywell International Inc. - Business segments
• Exhibit 140: Honeywell International Inc. - Key news
• Exhibit 141: Honeywell International Inc. - Key offerings
• Exhibit 142: Honeywell International Inc. - Segment focus

• 12.12 Hubbell Inc. 
• Exhibit 143: Hubbell Inc. - Overview
• Exhibit 144: Hubbell Inc. - Business segments
• Exhibit 145: Hubbell Inc. - Key offerings
• Exhibit 146: Hubbell Inc. - Segment focus

• 12.13 Hudson Valley Lighting Inc. 
• Exhibit 147: Hudson Valley Lighting Inc. - Overview
• Exhibit 148: Hudson Valley Lighting Inc. - Product / Service
• Exhibit 149: Hudson Valley Lighting Inc. - Key offerings

• 12.14 IDEAL INDUSTRIES Inc. 
• Exhibit 150: IDEAL INDUSTRIES Inc. - Overview
• Exhibit 151: IDEAL INDUSTRIES Inc. - Product / Service
• Exhibit 152: IDEAL INDUSTRIES Inc. - Key offerings

• 12.15 Maxim Lighting International 
• Exhibit 153: Maxim Lighting International - Overview
• Exhibit 154: Maxim Lighting International - Product / Service
• Exhibit 155: Maxim Lighting International - Key offerings

• 12.16 OSRAM GmbH 
• Exhibit 156: OSRAM GmbH - Overview
• Exhibit 157: OSRAM GmbH - Business segments
• Exhibit 158: OSRAM GmbH - Key offerings
• Exhibit 159: OSRAM GmbH - Segment focus

• 12.17 Signify NV 
• Exhibit 160: Signify NV - Overview
• Exhibit 161: Signify NV - Business segments
• Exhibit 162: Signify NV - Key news
• Exhibit 163: Signify NV - Key offerings
• Exhibit 164: Signify NV - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

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