The latest report by IMARC Group, titled “Decorative Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the decorative lighting market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The global decorative lighting market size reached US$ 41.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.1% during 2024-2032.

Decorative Lighting Market Trends:

The global decorative lighting market is primarily driven by the growing demand for aesthetically pleasing and energy-efficient lighting solutions in residential, commercial, and public spaces. The increasing consumer focus on interior design and ambiance creation has led to a surge in demand for stylish and functional lighting fixtures. Advancements in lighting technologies, such as LED lighting, have revolutionized the market by offering energy-saving options without compromising on design or brightness. The rise in disposable income and changing lifestyle trends, particularly in urban areas, are further contributing to the expansion of the decorative lighting market.

Additionally, the hospitality industry, including hotels, restaurants, and entertainment venues, is increasingly adopting decorative lighting solutions to enhance guest experiences, further driving market demand. The growing focus on smart homes and automation technologies, which allow consumers to control lighting remotely, has also opened new avenues for innovation and growth in the market.

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Decorative Lighting Market Scope and Growth Analysis:

The scope of the global decorative lighting market includes various product types, such as chandeliers, pendants, wall sconces, table lamps, and floor lamps. The market is segmented by end-use sectors, including residential, commercial, and industrial applications, with the residential sector holding a significant share due to the rising trend of home renovation and interior enhancement projects. Geographically, North America and Europe are prominent markets for decorative lighting, owing to high consumer spending on home decor and technological adoption.

Meanwhile, the Asia-Pacific region is experiencing rapid growth, driven by increasing urbanization, rising disposable incomes, and a growing middle class in countries like China and India. The market is characterized by a blend of traditional and modern designs, with consumers seeking lighting solutions that align with contemporary design trends, as well as classic styles. Customization and personalization are becoming key factors influencing purchasing decisions, with many consumers opting for unique lighting fixtures that reflect their individual style preferences. Additionally, sustainability is becoming an important consideration in the decorative lighting market, with a growing demand for eco-friendly materials and energy-efficient lighting technologies. The increasing adoption of LED and smart lighting solutions that integrate with home automation systems is also shaping the future of the market, offering enhanced control and energy savings.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

1. Acuity Brands Inc.

2. Bridgelux Inc

3. Crest LED Lighting

4. Fagerhults Belysning AB

5. General Electric Company

6. Honeywell International Inc.

7. Hubbell Incorporated

8. Ideal Industries Inc.

9. Maxim Lighting

10. Nichia Corporation

11. Osram Licht AG (ams AG)

12. Signify Holding

Decorative Lighting Market Segmentation:

Our report has categorized the market based on region, product type, light source, distribution channel and end user.

Breakup by Product Type:

1. Chandelier

2. Pendant

3. Sconce

4. Flush Mount

5. Ceiling Mount

6. Wall Mount

7. Others

Breakup by Light Source:

1. LED

2. Fluorescent

3. Incandescent

4. Others

According to the report, LED represented the largest segment.

Breakup by Distribution Channel:

1. Supermarkets and Hypermarkets

2. Specialty Stores

3. Online Stores

4. Others

Breakup by End User:

1. Commercial

2. Household

Breakup by Region:

1. North America (United States, Canada)

2. Europe (Germany, France, United Kingdom, Italy, Spain, Others)

3. Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

4. Latin America (Brazil, Mexico, Others)

5. Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

1. Market Performance (2018-2023)

2. Market Outlook (2024-2032)

3. Porter’s Five Forces Analysis

4. Market Drivers and Success Factors

5. SWOT Analysis

6. Value Chain

7. Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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