Global Decorative Lighting Market Report and Forecast 2023-2028 (2024)

Global Decorative Lighting Market Outlook

The global decorative lighting market is expected to grow in the forecast period of 2023-2028 at a CAGR of 3.2%.

Global Decorative Lighting Market Report and Forecast 2023-2028 (1)

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Growing Demand for Decorative Lighting to Enhance Aesthetics in the Commercial and Domestic Sectors is Aiding the Market Growth

The rising trend of interior designing in both domestic and commercial buildings is aiding the market growth of decorative lighting. As lighting is one of the most significant aspects of interior designing, it is being widely deployed to enhance the aesthetics of an area. Moreover, the increasing remodelling and renovation activities in both developed and developing countries are leading to a surge in the use of decorative lighting, which is augmenting the market growth. The trend has been escalated during the COVID-19 outbreak that increased the focus of homeowners on interior designing owing to stay-at-home orders and national lockdowns, therefore significantly contributing to the industry growth.

Growing Demand for LED Decorative Lighting is Catalysing the Market Growth

The growing demand for LED decorative lighting owing to their cost-effectiveness and energy efficiency is aiding the industry growth. It is rapidly replacing incandescent decorative lighting owing to its durability and versatility, which is consequently surging its demand. In addition, LED lightings are available in diverse colours, shapes, and brightness, which makes them ideal for use in various decorative styles, hence invigorating the growth of the decorative lighting industry.

Decorative Lighting: Market Segmentation

Decorative lighting is a type of lighting that is deployed to enhance the beauty of enclosed space, home, and outdoor space. It can highlight various models, objects, and paintings in rooms and halls while increasing the overall aesthetics of rooms. Moreover, it is available in various textures, styles, shapes, and colours, among others, due to which it is increasingly deployed in residential and commercial spaces.

Global Decorative Lighting Market Report and Forecast 2023-2028 (2)

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The major light sources of decorative lighting are:

  • LED
  • Fluorescent
  • Incandescent
  • Others

The market can be broadly categorised on the basis of products into:

  • Ceiling
  • Wall Mounted
  • Others

Based on end use, the market is bifurcated into:

  • Commercial
  • Household

By distribution channel, the industry is divided into:

  • Offline
  • Online

The EMR report looks into the regional markets of decorative lighting like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Decorative Lighting Market Report and Forecast 2023-2028 (3)

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Rising Demand for Decorative Lighting in Residential Spaces to Provide Relaxation Effects to Bolster the Market Growth

The increasing trend of bedroom lighting that can provide relaxation effects while appealing to the eye is augmenting the industry growth. Moreover, the surging environmental consciousness is increasing the demand for decorative lights made up of organic materials, which is further bolstering the market growth. The rising demand for ceiling-mounted decorative lighting to transform rooms to enhance the aesthetics of rooms is fuelling the market growth. In addition, the advent of dynamic lighting that can be controlled by smartphones is significantly contributing to the growth of the decorative lighting industry.

The growing demand for smart decorative lighting to automate the intensity of lighting is augmenting the market growth. As smart lightings have features, such as occupancy and daylight sensors, it consumes a low amount of electricity and energy, which is further invigorating the market growth of decorative lighting. Furthermore, as smart lighting can also change the lighting moods as per space and mood preferences, the demand for decorative lighting is escalating, which is expected to propel the industry growth in the forecast period.

Key Industry Players in the Global Decorative Lighting Market

The report presents a detailed analysis of the following key players in the global decorative lighting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Acuity Brands Lighting Inc.
  • Maxim Lighting International, Inc.
  • Generation Lighting
  • Savant Systems, Inc.
  • Lowe's Companies, Inc.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

REPORT FEATURESDETAILS
Base Year2022
Historical Period2018-2022
Forecast Period2023-2028
Scope of the ReportHistorical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment-Light Source,Product,End Use,Distribution Channel,Region
Breakup byLight SourceLED,Fluorescent,Incandescent,Others
Breakup byProductCeiling,Wall Mounted,Others
Breakup byEnd UseCommercial,Household
Breakup byDistribution ChannelOffline,Online
Breakup by RegionNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market DynamicsSWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive LandscapeMarket Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies CoveredAcuity Brands Lighting Inc.,Maxim Lighting International, Inc.,Generation Lighting,Savant Systems, Inc.,Lowe's Companies, Inc.,Others
Report Price and Purchase OptionExplore our purchase options that are best suited to your resources and industry needs.
Delivery FormatDelivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description

3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary

5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Decorative Lighting Market Analysis

8.1 Key Industry Highlights
8.2 Global Decorative Lighting Historical Market (2018-2022)
8.3 Global Decorative Lighting Market Forecast (2023-2028)
8.4 Global Decorative Lighting Market by Light Source
8.4.1 LED
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Fluorescent
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Incandescent
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Decorative Lighting Market by Product
8.5.1 Ceiling
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Wall Mounted
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Others
8.6 Global Decorative Lighting Market by End Use
8.6.1 Commercial
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Household
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Decorative Lighting Market by Distribution Channel
8.7.1 Offline
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Online
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.8 Global Decorative Lighting Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Decorative Lighting Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Decorative Lighting Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Decorative Lighting Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Decorative Lighting Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Decorative Lighting Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape

16.1 Market Structure
16.2 Company Profiles
16.2.1 Acuity Brands Lighting Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Maxim Lighting International, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Generation Lighting
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Savant Systems, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Lowe's Companies, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market

List of Key Figures and Tables

1. Global Decorative Lighting Market: Key Industry Highlights, 2018 and 2028
2. Global Decorative Lighting Historical Market: Breakup by Light Source (USD Million), 2018-2022
3. Global Decorative Lighting Market Forecast: Breakup by Light Source (USD Million), 2023-2028
4. Global Decorative Lighting Historical Market: Breakup by Product (USD Million), 2018-2022
5. Global Decorative Lighting Market Forecast: Breakup by Product (USD Million), 2023-2028
6. Global Decorative Lighting Historical Market: Breakup by End Use (USD Million), 2018-2022
7. Global Decorative Lighting Market Forecast: Breakup by End Use (USD Million), 2023-2028
8. Global Decorative Lighting Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
9. Global Decorative Lighting Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
10. Global Decorative Lighting Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Decorative Lighting Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Decorative Lighting Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Decorative Lighting Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Decorative Lighting Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Decorative Lighting Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Decorative Lighting Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Decorative Lighting Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Decorative Lighting Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Decorative Lighting Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Decorative Lighting Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Decorative Lighting Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Decorative Lighting Market Structure

Global Decorative Lighting Market Report and Forecast 2023-2028 (2024)

FAQs

What is the smart lighting market forecast? ›

The smart lighting market is projected to witness a CAGR of 20.2% over the forecast period. The fast shift from conventional lighting to linked lighting technologies, as well as the increasing prevalence of smart cities, are likely to provide significant potential for market growth over the forecast period.

How big is the global lighting market? ›

The global LED lighting market size was worth USD 70.94 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030.

What is the forecast for LED lighting? ›

The global LED lighting market size was valued at USD 77.79 billion in 2021 and is projected to grow from USD 85.02 billion in 2022 to USD 264.08 billion by 2029, exhibiting a CAGR of 17.6% during the forecast period.

What is the CAGR of the LED industry? ›

LED Modules and Light Engines Market Growth: The overall demand for LED Modules and Light Engines is projected to grow at a CAGR of 11.2% between 2022 and 2032, totalling around US$ 115,729.3 Million by 2032.

What is the next lighting technology? ›

So a number of researchers are already looking for the successor to LED lighting. According to Steven DenBaars, a researcher at the University of California at Santa Barbara (UCSB), we will be using lasers in the future. Laser diodes are much smaller than LEDs. A laser diode has a number of important benefits.

What is the biggest lighting company? ›

Top 10 Largest LED Lighting Manufacturers in the World
  • Acuity Brands. Founded: 2001. Headquarters: Atlanta, GA, United States. ...
  • Cree. Founded: 1987. ...
  • GE Lighting. Founded: 1911. ...
  • Osram. Founded: 1919. ...
  • Nichia Corporation. Founded: 1956. ...
  • Seoul Semiconductor. Founded: 1992. ...
  • Zumtobel Group. Founded: 1950.

Who is the market leader in the lighting industry? ›

GE holds the largest market share, followed by Koninklijke Philips N.V. and Cree, Inc. This is attributable to the production of various products with innovative lighting technology which allows the company to hold the large market share among the other light manufacturing companies.

What is the lighting industry worth? ›

Industrial Lighting Market Worth USD 16.9 Billion at a CAGR of 7.80% by 2030- Report by Market Research Future (MRFR)

What is the new LED light technology in 2023? ›

In 2023, we can expect to see an increase in LED lighting made from sustainable materials such as bamboo, recycled plastics, and organic fibers. These materials not only reduce the environmental impact of LED lighting but also add a unique aesthetic to lighting fixtures.

Is the lighting industry growing? ›

Pune, India, April 19, 2023 (GLOBE NEWSWIRE) -- The global LED Lighting Market size was valued at USD 77.79 billion in 2021 and the market is projected to grow from USD 85.02 billion in 2022 to USD 264.08 billion by 2029,exhibiting a CAGR of 17.6% during the forecast period.

Will LEDs replace all light sources in the future? ›

Needless to say this is a tremendous achievement, and according to researchers, by 2030 approximately 87% of all light sources could be LEDs. A big part of why LED lighting is taking over the global market can be credited to just how more commercially viable they are.

What is a good 5 year CAGR for an industry? ›

For a company with 3 to 5 years of experience, 10% to 20% can really be a good cagr for sales. On the other hand, 8% to 12% can be considered as a good cagr for sales of a company with more than 10 years of experience into same business.

What is CAGR for 5 years? ›

A 5-year CAGR percentage indicates how much the investment has grown in the past 5 years. What does 10% CAGR mean? 10% CAGR means you earn 10% return on your investment every year. Simply put, it is the average rate at which your investment will grow during the investment tenure.

Is 5% CAGR high? ›

Stockopedia explains Sales CAGR

Sales growth of 5-10% is usually considered good for large-cap companies, while for mid-cap and small-cap companies, sales growth of over 10% is more achievable.

What is the newest most efficient lighting technology? ›

The light-emitting diode (LED) is today's most energy-efficient and rapidly-developing lighting technology. Quality LED light bulbs last longer, are more durable, and offer comparable or better light quality than other types of lighting.

What is the new invention of the lighting industry? ›

LED light bulbs are the new technology trends in the lighting industry which can't be avoided today. LED lighting fixtures have numerous benefits from environmental health to your own health. These lights are energy-efficient and they consume less electricity which eventually results in the reduction of energy bills.

Will lasers replace LEDs? ›

The input power of laser diodes can be increased maintaining high efficiency, Something that has limitations with LEDs. Nakamura therefore predicts, that in the future, all lights will be laser.

Who owns best lighting products? ›

Jeff Katz - CEO - Best Lighting Products | LinkedIn.

Who is the best LED manufacturer in the US? ›

Ranked first worldwide, CREE is based in the USA. This company manufactures LED chips ranging from 0.1W to 5W and COB LED bulbs from 5W to 200W. CREE bulbs can be used in all end-use applications, from indoor lighting to outdoor floodlighting. In second place is Nichia.

How big is the smart street lighting market? ›

Published Via 11Press: In 2022, the smart street lighting market was estimated to be worth USD 2.41 billion and reach its peak value of USD 13.4 billion by 2032 at a compound annual growth rate (CAGR) of 19.2% between 2022 and 2032.

What is the automotive lighting market forecast? ›

Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. The Global Automotive Lighting Market size is estimated to exceed USD 32.08 billion by 2030 and grow at a CAGR of 4.89% during the forecast period (2023-2030).

How big is the lighting industry? ›

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.

What is the market outlook for smart buildings? ›

Smart Buildings Market Analysis. The global smart buildings market size stood at USD 72.6 billion in 2021 and is projected to grow at a CAGR of 10.9% to reach over USD 121.6 billion by the end of 2026.

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