Lamps And Lighting Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.47 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Lamps And Lighting Market Analysis
The Lamps and Lighting Market has generated a revenue of USD 83.94 billion in the current year and is poised to register a CAGR of greater than 4.47% during the forecast period.
The lighting market encompasses a wide range of products, including lamps, fixtures, bulbs, and related accessories. Lamps, in particular, refer to the devices that produce light through the generation of electric current or by using other sources of energy. They come in various types and are used for different applications, including residential, commercial, industrial, and outdoor lighting.
Light-emitting diode (LED) technology has gained significant popularity and market share in recent years. LEDs offer several advantages over traditional lighting technologies, such as incandescent and fluorescent lamps. They are more energy-efficient, have longer lifespans, and provide better lighting quality. The transition to LED lighting has been driven by government regulations promoting energy efficiency and consumer demand for sustainable and cost-effective solutions. Energy efficiency has become a crucial factor in the lighting market due to growing environmental concerns and the need to reduce energy consumption. LED lamps are highly energy-efficient compared to traditional lighting options, consuming significantly less electricity for the same amount of light output. This has led to increased adoption of LED lamps in both residential and commercial sectors.
Currently, the lamps and lighting market is gradually recovering post-COVID-19. With more people spending time at home, there is a growing demand for lighting upgrades and renovations. Energy-efficient and smart lighting options are gaining popularity.
Lamps And Lighting Market Trends
Offline Sales is Dominating the Market
Lamps and lighting fixtures are products where visual appeal and aesthetics are crucial factors for customers. Offline stores provide customers with the opportunity to physically see and experience the products, examine their quality, texture, and design, and visualize how they would look in their intended settings. This tangible experience of interacting with the products can be a major advantage for offline sales.
Some customers may prefer customized or personalized lighting solutions. Offline stores can offer services such as custom lampshade designs, bespoke lighting fixtures, or the ability to mix and match different components to create unique lighting setups. These personalized services are often easier to provide in a physical store setting, where customers can directly interact with the available options and discuss their preferences with store personnel. For customers who need lighting solutions urgently or prefer not to wait for online delivery, offline stores offer the advantage of immediate availability. Customers can make their purchases and take the products home right away without having to wait for shipping or delivery.
Established offline retailers with a strong brand presence can instill trust and confidence in customers. Many people prefer to make significant purchases, such as lighting fixtures, from reputable and well-known stores where they feel assured about product quality, after-sales service, and warranties. Offline stores can leverage their brand reputation to dominate the market and attract customers who value reliability and trustworthiness.
Ceiling Lights & Chandeliers is Driving the Market
Ceiling lights and chandeliers come in various shapes, sizes, and designs, offering versatility and flexibility in their application. They can be adapted to different ceiling heights and room sizes, making them suitable for a wide range of spaces. Additionally, advancements in lighting technology have led to the availability of various lighting options within ceiling lights and chandeliers, such as LED bulbs, dimming capabilities, and color temperature control. The versatility and adaptability of these fixtures make them popular choices in the lighting market.
Trends in interior design heavily influence the demand for ceiling lights and chandeliers. Design styles and preferences evolve, and certain periods may see increased popularity in specific lighting designs. For example, contemporary or minimalist designs might favor sleek and simple ceiling lights, while traditional or vintage-inspired interiors may call for elaborate and ornate chandeliers. The evolving trends and preferences in interior design drive the market for ceiling lights and chandeliers.
The demand for ceiling lights and chandeliers extends beyond residential spaces. Commercial establishments, such as hotels, restaurants, retail stores, and offices, often require decorative and functional lighting solutions for their public areas. Chandeliers and grand ceiling lights are commonly used in lobbies, ballrooms, dining areas, and other spaces where an upscale and sophisticated ambiance is desired. The commercial and hospitality sectors contribute significantly to the demand for these lighting fixtures.
Lamps And Lighting Industry Overview
The Lamps and Lighting market is fragmented with many players. The report covers the major international players operating in the lamps and lighting market. Regarding market share, some of the major players currently dominate the market. Some major players are Ashley Furniture Industries, Inter IKEA Group, Nitori Holdings, Oppein Home Group and Rh. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
Lamps And Lighting Market Leaders
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Ashley Furniture
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Inter IKEA
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Nitori Holdings
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Oppein Home Group
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Rh
*Disclaimer: Major Players sorted in no particular order
Lamps And Lighting Market News
- September 2022: Visual Comfort & Co. collaborated with Scott Brothers Global and its well-known home furnishings brand, Drew & Jonathan, on a multi-category collection that includes table, floor, ceiling, and wall lighting solutions.
- March 2022: Herman Miller. announced the opening of a new experiential retail store on Gansevoort Street in Meatpacking, with another New York City location to follow in Williamsburg, Brooklyn.
Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising prevalence of building and development projects
- 4.2.2 High Efficient Specification and Multiple Application of LED to Drive the Market
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4.3 Market Restraints
- 4.3.1 High Initial and Deployment Costs of LED Lighting System to Restrain the Market
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4.4 Market Opportunities
- 4.4.1 Smart Lighting Solutions, such as Voice-Controlled and App-Controlled Lighting Systems to be an Opportunity
- 4.5 Industry Value Chain Analysis
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4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Buyers
- 4.6.2 Bargaining Power of Suppliers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights of Technology Innovations in the Market
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Table & Floor Lamps
- 5.1.2 Ceiling Lights & Chandeliers
- 5.1.3 Light Bulbs & Fittings
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5.2 By Distribution Channel
- 5.2.1 Supermarkets/Hypermarkets
- 5.2.2 Specialty Stores
- 5.2.3 Online
- 5.2.4 Other Distribution Channels
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5.3 By Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 Latin America
- 5.3.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Ashley Furniture
- 6.2.2 Inter IKEA
- 6.2.3 Nitori Holdings
- 6.2.4 Oppein Home Group
- 6.2.5 Rh
- 6.2.6 Rooms To Go
- 6.2.7 Wayfair
- 6.2.8 Williams Sonoma
- 6.2.9 Bed Bath & Beyond
- 6.2.10 Walmart*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityLamps And Lighting Industry Segmentation
Light from a lamp, especially light that is not very bright and only shines over a small area. A complete background analysis of the Lamps and Lighting Market, which includes an assessment of the economy and the contribution of sectors in the economy, a market overview, market size estimation for key segments, emerging trends in the market segments, and market dynamics, are covered in the report. The Lamps And Lighting Market is Segmented By Type (Table & Floor Lamps, Ceiling Lights & Chandeliers, Light Bulbs & Fittings), By Distribution Channels (Supermarkets/Hypermarkets, Specialty Stores, Online, Other Distribution Channels), and By Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The report offers market size and values in (USD) during the forecast period for the above segments.
| By Type | Table & Floor Lamps |
| Ceiling Lights & Chandeliers | |
| Light Bulbs & Fittings | |
| By Distribution Channel | Supermarkets/Hypermarkets |
| Specialty Stores | |
| Online | |
| Other Distribution Channels | |
| By Geography | North America |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle-East and Africa |
Frequently Asked Questions
What is the current Lamps And Lighting Market size?
The Lamps And Lighting Market is projected to register a CAGR of greater than 4.47% during the forecast period (2024-2029)
Who are the key players in Lamps And Lighting Market?
Ashley Furniture, Inter IKEA, Nitori Holdings, Oppein Home Group and Rh are the major companies operating in the Lamps And Lighting Market.
Which is the fastest growing region in Lamps And Lighting Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Lamps And Lighting Market?
In 2024, the North America accounts for the largest market share in Lamps And Lighting Market.
What years does this Lamps And Lighting Market cover?
The report covers the Lamps And Lighting Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Lamps And Lighting Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Lamps And Lighting Industry Report
Statistics for the 2024 Lamps And Lighting market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Lamps And Lighting analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
