Market Synopsis: Global Architectural Lighting Market
The major factor which driving the global architectural lighting market is architectural lighting reduced the overall energy expenditure. Growing technology advancement and developments in urban landscape fueling growth of the market. In addition, rising demand for architectural lighting with temperature control features and modern design for areas of applications includes restaurants, museums, shops, malls, and homes are estimated to propel the growth of the market over the forecast period. The architectural lighting are used as household and commercial purposes. Furthermore, rising number of LED in architectural lighting in outdoor and indoor areas of building allows it incorporated into recessed floor light, decorative pendant, strip light, and façade lighting. The high LED based architectural lighting features a low carbon footprint, lower energy consumption, and minimize adverse impact on the environment. The uncertain situation due to the coronavirus may affect the trend of the global architectural lighting market in the next few years. The global architectural lighting market is expected to register steady growth during the forecast period, 2022-2030.
Impact of Covid-19 pandemic on market
COVID-19 crisis impacted manufacturers involved in various industries and obstructed the entire supply chain, from raw materials to end product delivery. Moreover, government and policymakers are mostly engaged in handling and controlling the medical crisis to meet a healthy and safe environment for the nation’s population. The lack of understanding to manage economic risks and the business sector is expected to put the economic and industrial growth towards vulnerability. The report will include the impact of COVID-19 on the target market in detail.
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Market Dynamics: Global Architectural Lighting Market
Rising number of commercial and residential buildings, hospitals, hotels are likely to boosting the growth of the global architectural lighting market. Moreover, rising awareness about green technology made manufactures to develop environment friendly and energy efficient decorative lights.
The high cost of machines is expected to hinder the growth of the global all-terrain crane market. Also, the manufacturers are abided by various standards and norms regulated by the governing bodies differ in much geography which might hamper the market growth.
The market player has an opportunity to invest in an emerging market to gain more sales benefit over the forecast period. Moreover, infrastructure projects in the developing nations are expected to provide lucrative growth of this market.
Market Segmentation: Global Architectural Lighting Market
The global Architectural Lighting market is segmented based on capacity, application, and regions.
The global Architectural Lighting market is segmented based on the capacity as high intensity discharge (HID) lights, light emitting diode (LED) lights, fluorescent lights, and incandescent lights. The major factor which helps to anticipate the growth of this segment of the market is to reduce energy consumption cost and availability of appealing LED lighting fixtures.
Based on end-user, the global architectural lighting market is segmented into residential and commercial. The commercial segment of end-user hold a large amount of market share and estimated to remain the highest revenue contributor during the forecast period. Rising the usage of lighting for enhanced exterior and interior architectural beauty of commercial building includes hotels, restaurants, airports, museums, resorts, and many other are helps to drive this segment.
Regional Overview: Global Architectural Lighting Market
In the region, the global Architectural Lighting market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific’s architectural lighting market is projected to endure its dominance owing to rapid urbanization and improvement in infrastructure. The per capital income of developing nations such as China, India, increases the spending power of the people in this region. Moreover, the government support for extensively adoption of solar LED products in construction and commercial spaces anticipated to grow the architectural lighting market in this region.
Europe’s architectural lighting market is expected to grow with a significant CAGR over the forecast period, as rising adoption of energy-efficient lighting systems coupled with advanced control systems across the region.
Competitive Landscape: Global Architectural Lighting Market
The key players operating in the global Architectural Lighting market include General Electric Company, Philips Lighting Holding B.V., OSRAM GmbH, Feilo Sylvania, TCP International Holdings Ltd., SeaGull Lighting, Orion Energy Systems Inc., Acuity Brands Lighting, Inc., W.W. Grainger, Inc., Cree, Inc., GE Lighting LLC, Samsung Groups, Epistar corporation, Toshiba Lighting and Technology Corporation, Verbatim Ltd, Cooper Industries Plc, Galaxia Electronics Co., Ltd. and other players.
Investment in new product categories with a differentiated pricing strategy enables the manufactures to lure new customers and gain prominent market share in the various product category. Moreover, the industrial giants are building a strong distribution network to penetrate the potential market.
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Detailed Segmentation: Global Architectural Lighting Market
|The base year for estimation||2021|
|Market representation||Revenue in USD Million & CAGR from 2022-2030|
|Market Segmentation||By Type – High Intensity Discharge (HID) Lights, Light Emitting Diode (LED) Lights, Fluorescent Lights and Incandescent Lights
By Lighting Type – Accent Lighting, Ambient Lighting, and Task Lighting
By End-user – Residential and Commercial
|Regional Scope||North America – U.S., Canada
Europe – Germany, UK, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America – Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors, and trends|
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2028. For the purpose of this study, analyst has segmented the global architectural lighting market report based on the type, lighting type, end-user and region.
Global Architectural Lighting Market, By Type:
- High Intensity Discharge (HID) Lights
- Light Emitting Diode (LED) Lights
- Fluorescent Lights
- Incandescent Lights
Global Architectural Lighting Market, By Lighting Type:
- Accent Lighting
- Ambient Lighting
- Task Lightings
Global Architectural Lighting Market, By Lighting Type:
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Global Architectural Lighting Market, By Region:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- General Electric Company*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Philips Lighting Holding B.V.
- OSRAM GmbH
- Feilo Sylvania
- TCP International Holdings Ltd.
- SeaGull Lighting
- Orion Energy Systems Inc.
- Acuity Brands Lighting, Inc.
- W.W. Grainger, Inc.
- Cree, Inc.
- GE Lighting LLC
- Samsung Groups
- Epistar corporation
- Toshiba Lighting and Technology Corporation
- Verbatim Ltd
- Cooper Industries Plc
- Galaxia Electronics Co., Ltd.