Published by Persistence MarketResearch
Posted on October 11, 2021
Anticipated to reach a valuation of approximately US$ 29.7 Billion in 2019, the global demand for residential lighting fixtures is expected to grow at a steady rate of 4.5 percent CAGR, through the period of 2018-2026, considering growing sales of smart lighting solutions, energy-efficient products such as the LEDs, and growing demand for fancy lightings. Moreover, governments increasingly promoting the smart cities concept will boost residential lighting fixtures’ demand in the coming years, as indicated in a recent intelligence study on global residential lighting fixtures market published by Persistence Market Research.
“While the global revenue from the sales of residential lighting fixtures is anticipated to witness a steady year-on-year growth, the market study by Persistence Market Research indicates that the global sales of residential lighting fixtures, through 2026, will exceed a whopping US$ 40 Billion revenue. Such increasing global demand for residential lighting fixtures can safely be attributed to continuous developments and innovations in technology and increase in construction of smart and premium homes,” a senior research analyst elaborates.
PMR Spots Demand-Driving Trends, Globally
The market is currently witnessing a thriving trend of replacing old metal halide fixtures with LED lighting fixtures, arising from the many benefits of LEDs including better lighting effects and cost-efficient output, while also promoting low-energy consuming lighting products. Manufacturers, in North America are replacing old lighting technologies with newer ones for both indoor and outdoor lighting solution, thereby, influencing the demand for residential lighting fixtures.
On the other hand, Latin America is likely to witness trends around strategic partnerships between manufacturers of residential lighting fixtures and online retailers for an expansive online visibility of products. In Europe, increasing application of lighting solutions in the healthcare sector will remain a major trend. In emerging markets of SEA and Other of APAC, India projects lucrative investment opportunities, considering the ‘smart city’ initiatives by the government. In China, smart LED streetlights market will gain significance by 2020. To change the present lighting infrastructure, governments in Japan are partnering with key manufacturers of lighting fixtures.
For Detailed Insights On Enhancing Your Product Footprint, Request For Sample Report Here @ https://www.persistencemarketresearch.com/samples/25819
“Moreover, global climate change has translated into governments banning incandescent bulbs to meet a minimum energy efficiency level, thereby, favoring greener and more efficient technologies such as the LEDs. For instance, California became the first US state to ban incandescent bulbs, beginning 2018—a move that is expected to save consumers approximately US$ 1 Billion a year in energy bills”, adds the analyst
In the wheel of fortune, the report on residential lighting fixtures market, places key segments including fixture types, lighting source, pricing, and region in various growth quadrants, ranging from slow growth to very high growth quadrant. A majority of market segments fall in the high and very high growth quadrants. Regionally, Middle East and Africa fall in the slow growth quadrant, while Europe and China occupy a position in the medium growth quadrant. However, regions like North America, Latin America, SEA and Others of APAC, and Japan are among the fast growing revenue pockets. In terms of lighting source, incandescent is a slow-moving segment compared to fluorescent and LED and OLED—safely placed in the high growth quadrant owing to their energy-efficient attributes. On the basis of fixtures, while recessed fixtures and under cabinet lighting solution fall in the high-growth quad, adoption of vanity fixtures and outdoor fixtures is projected to remain high through 2026. In terms of pricing, premium residential fixtures are estimated to gain prominence in the coming years, hence, falls in very high growth quadrant. Drawing from an analysis of the wheel of fortune:
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The global residential fixtures market showcases a highly competitive landscape, considering presence of several leading global and regional players. Tier-1 manufactures of residential lighting fixtures including companies like Hubbell, General Electric, Signify, and OSRAM GmbH hold dominance over 45.5 percent market share compared to tier-2 players such as Cree, Panasonic, and Royal Philips NV trailing with 36.4 percent market share. Porter’s Five Force Analysis projects high threat of new entrants, bargaining power of buyers, and threat of substitutes. Bargaining power of suppliers will remain moderate owing to the high demand for advanced technologies, as per the analysis. To counter these, core forward market strategies include:
Company Profiles
Get Full Access Summary Buy Now @ https://www.persistencemarketresearch.com/checkout/25819
Related Reports
About us: Persistence Market Research
Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
The post Innovations Galore In The Residential Lighting Fixtures Market appeared first on Lake Shore Gazette.
Anticipated to reach a valuation of approximately US$ 29.7 Billion in 2019, the global demand for residential lighting fixtures is expected to grow at a steady rate of 4.5 percent CAGR, through the period of 2018-2026, considering growing sales of smart lighting solutions, energy-efficient products such as the LEDs, and growing demand for fancy lightings. Moreover, governments increasingly promoting the smart cities concept will boost residential lighting fixtures’ demand in the coming years, as indicated in a recent intelligence study on global residential lighting fixtures market published by Persistence Market Research.
“While the global revenue from the sales of residential lighting fixtures is anticipated to witness a steady year-on-year growth, the market study by Persistence Market Research indicates that the global sales of residential lighting fixtures, through 2026, will exceed a whopping US$ 40 Billion revenue. Such increasing global demand for residential lighting fixtures can safely be attributed to continuous developments and innovations in technology and increase in construction of smart and premium homes,” a senior research analyst elaborates.
PMR Spots Demand-Driving Trends, Globally
The market is currently witnessing a thriving trend of replacing old metal halide fixtures with LED lighting fixtures, arising from the many benefits of LEDs including better lighting effects and cost-efficient output, while also promoting low-energy consuming lighting products. Manufacturers, in North America are replacing old lighting technologies with newer ones for both indoor and outdoor lighting solution, thereby, influencing the demand for residential lighting fixtures.
On the other hand, Latin America is likely to witness trends around strategic partnerships between manufacturers of residential lighting fixtures and online retailers for an expansive online visibility of products. In Europe, increasing application of lighting solutions in the healthcare sector will remain a major trend. In emerging markets of SEA and Other of APAC, India projects lucrative investment opportunities, considering the ‘smart city’ initiatives by the government. In China, smart LED streetlights market will gain significance by 2020. To change the present lighting infrastructure, governments in Japan are partnering with key manufacturers of lighting fixtures.
For Detailed Insights On Enhancing Your Product Footprint, Request For Sample Report Here @ https://www.persistencemarketresearch.com/samples/25819
“Moreover, global climate change has translated into governments banning incandescent bulbs to meet a minimum energy efficiency level, thereby, favoring greener and more efficient technologies such as the LEDs. For instance, California became the first US state to ban incandescent bulbs, beginning 2018—a move that is expected to save consumers approximately US$ 1 Billion a year in energy bills”, adds the analyst
In the wheel of fortune, the report on residential lighting fixtures market, places key segments including fixture types, lighting source, pricing, and region in various growth quadrants, ranging from slow growth to very high growth quadrant. A majority of market segments fall in the high and very high growth quadrants. Regionally, Middle East and Africa fall in the slow growth quadrant, while Europe and China occupy a position in the medium growth quadrant. However, regions like North America, Latin America, SEA and Others of APAC, and Japan are among the fast growing revenue pockets. In terms of lighting source, incandescent is a slow-moving segment compared to fluorescent and LED and OLED—safely placed in the high growth quadrant owing to their energy-efficient attributes. On the basis of fixtures, while recessed fixtures and under cabinet lighting solution fall in the high-growth quad, adoption of vanity fixtures and outdoor fixtures is projected to remain high through 2026. In terms of pricing, premium residential fixtures are estimated to gain prominence in the coming years, hence, falls in very high growth quadrant. Drawing from an analysis of the wheel of fortune:
Get A Customized Scope To Match Your Need Ask An Expert – sales@persistencemarketresearch.com
The global residential fixtures market showcases a highly competitive landscape, considering presence of several leading global and regional players. Tier-1 manufactures of residential lighting fixtures including companies like Hubbell, General Electric, Signify, and OSRAM GmbH hold dominance over 45.5 percent market share compared to tier-2 players such as Cree, Panasonic, and Royal Philips NV trailing with 36.4 percent market share. Porter’s Five Force Analysis projects high threat of new entrants, bargaining power of buyers, and threat of substitutes. Bargaining power of suppliers will remain moderate owing to the high demand for advanced technologies, as per the analysis. To counter these, core forward market strategies include:
Company Profiles
Get Full Access Summary Buy Now @ https://www.persistencemarketresearch.com/checkout/25819
Related Reports
About us: Persistence Market Research
Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
The post Innovations Galore In The Residential Lighting Fixtures Market appeared first on Lake Shore Gazette.
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