Lighting Fixture Market Size, Share, Industry Trends & Growth Analysis Report

Global Lighting Fixture Market Size, Share, Trends, Industry Growth by Source (Incandescent, Fluorescent, LED & OLED), by Product (Ceiling, Pendant & Chandeliers, Wall Mounted, Portable, Others), by Application, by Distribution Channel, by Region, and Forecast to 2030

Price: 3600/- USD | Last Updated: June 30th, 2023

The global lighting fixture market size is anticipated to register a significant CAGR of > 5% during the forecast period from 2023 to 2030. The rising adoption of energy-efficient products in residential as well as commercial lighting applications is one of the prominent factor driving the industry growth. Furthermore, the surge in the demand for LED lighting and the growing penetration of IoT and AI in lighting applications are further anticipated to boost the market growth over the forecast period. Moreover, the increasing adoption of LEDs in innovative niche lighting and the proliferation of smart lighting, connected home, and digitization are projected to propel the market in the next upcoming years.

Market Snapshot:

Benchmark Year		2022
Market Size		$ xx.x Mn
Market Growth (CAGR)		> 5% (2023-2030)
Largest Market Share		Asia Pacific
Analysis Period		2020-2030
Market Players		Koninklijke Philips N.V., Cree Inc., General Electric, Hubbell Lighting, Inc., and Acuity Brands, Inc.

Market Drivers:

Energy Efficiency and Sustainability: With increasing concerns about energy consumption and environmental impact, there is a growing demand for energy-efficient lighting fixtures. LED (Light Emitting Diode) fixtures have gained significant popularity due to their high energy efficiency and long lifespan. Governments and organizations worldwide are promoting energy-efficient lighting solutions, leading to the adoption of lighting fixtures that reduce energy consumption and contribute to sustainability efforts.

Technological Advancements: Advancements in lighting technologies have expanded the range of lighting fixtures available in the market. LED lighting fixtures, for example, have seen significant improvements in terms of efficiency, color rendering, and controllability. Other advancements, such as smart lighting fixtures with wireless connectivity and integrated sensors, provide enhanced functionality and convenience. These technological advancements drive the demand for innovative lighting fixtures.

Urbanization and Infrastructure Development: Rapid urbanization and infrastructure development projects worldwide drive the demand for lighting fixtures. Growing residential, commercial, and industrial construction activities require lighting fixtures for various applications, including street lighting, outdoor illumination, architectural lighting, and indoor lighting in buildings. The need for aesthetically appealing, energy-efficient, and functional lighting fixtures in urban areas propels market growth.

Government Initiatives and Regulations: Governments across the globe are implementing initiatives and regulations to promote energy-efficient lighting solutions. These measures often include the phase-out of inefficient lighting technologies and the implementation of energy efficiency standards for lighting fixtures. Such regulations create a favorable market environment for energy-efficient lighting fixtures and drive their adoption.

Cost Savings: Energy-efficient lighting fixtures, such as LED fixtures, offer long-term cost savings due to their lower energy consumption and longer lifespan compared to traditional lighting technologies. Businesses and consumers are increasingly recognizing the financial benefits of energy-efficient lighting, leading to a higher demand for these fixtures.

Focus on Health and Well-being: There is a growing understanding of the impact of lighting on human health and well-being. Lighting fixtures that can mimic natural daylight, adjust color temperature, or incorporate circadian rhythm principles are gaining popularity in applications such as healthcare facilities, offices, and residential settings. The focus on creating healthier and more productive environments drives the demand for lighting fixtures that support human well-being.

Retrofitting and Upgrading: Retrofitting existing lighting systems with energy-efficient fixtures is a cost-effective way to improve lighting quality and energy efficiency. Many businesses and organizations are opting to upgrade their lighting infrastructure to achieve energy savings and comply with regulations. This retrofitting trend boosts the demand for lighting fixtures.

Interior Design and Aesthetics: Lighting fixtures play a crucial role in enhancing the aesthetics and ambiance of interior spaces. Architects, interior designers, and homeowners prioritize lighting fixtures that complement the overall design and create the desired atmosphere. The demand for stylish and visually appealing lighting fixtures drives market growth.

Market Insights:

By source, the fluorescent segment dominated the global lighting fixture market in the benchmark year

The global lighting fixture market is bifurcated into source, product, application, distribution channel, and geography. On the basis of source, the market is further segmented into incandescent, fluorescent, and LED & OLED. The fluorescent segment is accounted to hold the largest revenue share of around 1/2 of the market in 2022. On the flip side, the LED and OLED segment is accounted to register the fastest CAGR over the forecast period. The increasing adoption of energy-efficient lighting sources and the significant implementation of government regulations are some major factors fueling the segment growth. Furthermore, the innovation in LED lighting and new product launch by market players is anticipated to propel the segment growth over the forecast period.

By application, the residential segment is expected to register the fastest CAGR over the forecast period

On the basis of application, the market is segmented into residential and commercial applications. The commercial application segment dominated the global lighting fixture market in the benchmark year and expected to maintain its dominance over the forecast period. The increasing installation of lighting fixtures at commercial places such as shopping malls, hospitals, offices, warehouses, shops, and others along with its advantages over traditional bulbs is a prominent factor driving the segment growth. Furthermore, the increasing number of smart city projects and government-supportive policies for energy-efficient products are anticipated to propel the segment growth over the forecast period. On the flip side, the residential segment is estimated to grow at the highest growth rate over the forecast period owing to the high adoption of LED lights in the residential sector.

Lighting Fixture Market CAGR

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The lighting fixture comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2023 to 2030. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The lighting fixture market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

2020-21 – Historical Year
2022 – Base Year
2023-2030 – Forecast Period

Market Segmentation:

By Source:

Incandescent
Fluorescent
LED & OLED

By Product:

Ceiling
Pendant & Chandeliers
Wall Mounted
Portable
Others

By Application:

Residential
Commercial

By Distribution Channel:

Offline
Online

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Regional Analysis:

By region, the Asia Pacific is expected to dominate the global market by the end of the analysis period

On the basis of region, the Asia Pacific dominated the global lighting fixture market in 2022 and expected to hold the largest revenue share of around 1/2 of the market share by the end of the analysis period. The growing adoption of energy-efficient lights and emerging economical conditions are some major factors driving the industry growth in the region. Furthermore, the increasing penetration of LED fixtures and the growing penetration in the commercial sector are further anticipated to propel the market growth in the Asia Pacific. Moreover, the rising government supportive policies for the adoption of energy-efficient lighting products are expected to uplift the market growth.

Geographically, the lighting fixture market report comprises dedicated sections centering on the regional market revenue and trends. The lighting fixture market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The lighting fixture market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Lighting fixture market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the major market players operating in the global lighting fixture market are Koninklijke Philips N.V., Cree Inc., General Electric, Hubbell Lighting, Inc., and Acuity Brands, Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

Koninklijke Philips N.V.
Cree Inc.
General Electric
Hubbell Lighting, Inc.
Acuity Brands, Inc.
Eaton Corporation
Panasonic Corporation
OSRAM Licht AG
Nichia Corporation
Everlight Electronics Co., Ltd.

Key Questions Answered by Lighting Fixture Market Report

Global lighting fixture market forecasts from 2023-2030
Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
Lighting fixture submarket forecasts from 2023-2030 covering the market by source, product, application, distribution channel, and geography
Various industry models such as SWOT analysis, Value Chain Analysis about the market
Analysis of the key factors driving and restraining the growth of the global, regional, and country-level lighting fixture markets from 2023-2030
Competitive Landscape and market positioning of the top 10 players operating in the market

Table of Content:

1. Preface

1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

2. Executive Summary

2.1. Global Lighting Fixture Market Portraiture
2.2. Global Lighting Fixture Market, by Source, 2022 (USD Mn)
2.3. Global Lighting Fixture Market, by Product, 2022 (USD Mn)
2.4. Global Lighting Fixture Market, by Application, 2022 (USD Mn)
2.5. Global Lighting Fixture Market, by Distribution Channel, 2022 (USD Mn)
2.6. Global Lighting Fixture Market, by Geography, 2022 (USD Mn)

3. Global Lighting Fixture Market Analysis

3.1. Lighting Fixture Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

4. Global Lighting Fixture Market By Source, 2020 – 2030 (USD Mn)

4.1. Overview
4.2. Incandescent
4.3. Fluorescent
4.4. LED & OLED

5. Global Lighting Fixture Market By Product, 2020 – 2030 (USD Mn)

5.1. Overview
5.2. Ceiling
5.3. Pendant & Chandeliers
5.4. Wall Mounted
5.5. Portable
5.6. Others

6. Global Lighting Fixture Market By Application, 2020 – 2030 (USD Mn)

6.1. Overview
6.2. Residential
6.3. Commercial

7. Global Lighting Fixture Market By Distribution Channel, 2020 – 2030 (USD Mn)

7.1. Overview
7.2. Offline
7.3. Online

8. North America Lighting Fixture Market Analysis and Forecast, 2020 – 2030 (USD Mn)

8.1. Overview
8.2. North America Lighting Fixture Market by Source, (2020-2030 USD Mn)
8.3. North America Lighting Fixture Market by Product, (2020-2030 USD Mn)
8.4. North America Lighting Fixture Market by Application, (2020-2030 USD Mn)
8.5. North America Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
8.6. North America Lighting Fixture Market by Country, (2020-2030 USD Mn)
8.6.1. U.S.
8.6.1.1. U.S. Lighting Fixture Market by Source, (2020-2030 USD Mn)
8.6.1.2. U.S. Lighting Fixture Market by Product, (2020-2030 USD Mn)
8.6.1.3. U.S. Lighting Fixture Market by Application, (2020-2030 USD Mn)
8.6.1.4. U.S. Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
8.6.2. Canada
8.6.2.1. Canada Lighting Fixture Market by Source, (2020-2030 USD Mn)
8.6.2.2. Canada Lighting Fixture Market by Product, (2020-2030 USD Mn)
8.6.2.3. Canada Lighting Fixture Market by Application, (2020-2030 USD Mn)
8.6.2.4. Canada Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)

9. Europe Lighting Fixture Market Analysis and Forecast, 2020 - 2030 (USD Mn)

9.1. Overview
9.2. Europe Lighting Fixture Market by Source, (2020-2030 USD Mn)
9.3. Europe Lighting Fixture Market by Product, (2020-2030 USD Mn)
9.4. Europe Lighting Fixture Market by Application, (2020-2030 USD Mn)
9.5. Europe Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
9.6. Europe Lighting Fixture Market by Country, (2020-2030 USD Mn)
9.6.1. Germany
9.6.1.1. Germany Lighting Fixture Market by Source, (2020-2030 USD Mn)
9.6.1.2. Germany Lighting Fixture Market by Product, (2020-2030 USD Mn)
9.6.1.3. Germany Lighting Fixture Market by Application, (2020-2030 USD Mn)
9.6.1.4. Germany Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
9.6.2. U.K.
9.6.2.1. U.K. Lighting Fixture Market by Source, (2020-2030 USD Mn)
9.6.2.2. U.K. Lighting Fixture Market by Product, (2020-2030 USD Mn)
9.6.2.3. U.K. Lighting Fixture Market by Application, (2020-2030 USD Mn)
9.6.2.4. U.K. Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
9.6.3. France
9.6.3.1. France Lighting Fixture Market by Source, (2020-2030 USD Mn)
9.6.3.2. France Lighting Fixture Market by Product, (2020-2030 USD Mn)
9.6.3.3. France Lighting Fixture Market by Application, (2020-2030 USD Mn)
9.6.3.4. France Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
9.6.4. Spain
9.6.4.1. Spain Lighting Fixture Market by Source, (2020-2030 USD Mn)
9.6.4.2. Spain Lighting Fixture Market by Product, (2020-2030 USD Mn)
9.6.4.3. Spain Lighting Fixture Market by Application, (2020-2030 USD Mn)
9.6.4.4. Spain Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
9.6.5. Italy
9.6.5.1. Italy Lighting Fixture Market by Source, (2020-2030 USD Mn)
9.6.5.2. Italy Lighting Fixture Market by Product, (2020-2030 USD Mn)
9.6.5.3. Italy Lighting Fixture Market by Application, (2020-2030 USD Mn)
9.6.5.4. Italy Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
9.6.6. Rest of Europe
9.6.6.1. Rest of Europe Lighting Fixture Market by Source, (2020-2030 USD Mn)
9.6.6.2. Rest of Europe Lighting Fixture Market by Product, (2020-2030 USD Mn)
9.6.6.3. Rest of Europe Lighting Fixture Market by Application, (2020-2030 USD Mn)
9.6.6.4. Rest of Europe Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)

10. Asia Pacific Lighting Fixture Market Analysis and Forecast, 2020 - 2030 (USD Mn)

10.1. Overview
10.2. Asia Pacific Lighting Fixture Market by Source, (2020-2030 USD Mn)
10.3. Asia Pacific Lighting Fixture Market by Product, (2020-2030 USD Mn)
10.4. Asia Pacific Lighting Fixture Market by Application, (2020-2030 USD Mn)
10.5. Asia Pacific Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
10.6. Asia Pacific Lighting Fixture Market by Country, (2020-2030 USD Mn)
10.6.1. China
10.6.1.1. China Lighting Fixture Market by Source, (2020-2030 USD Mn)
10.6.1.2. China Lighting Fixture Market by Product, (2020-2030 USD Mn)
10.6.1.3. China Lighting Fixture Market by Application, (2020-2030 USD Mn)
10.6.1.4. China Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
10.6.2. Japan
10.6.2.1. Japan Lighting Fixture Market by Source, (2020-2030 USD Mn)
10.6.2.2. Japan Lighting Fixture Market by Product, (2020-2030 USD Mn)
10.6.2.3. Japan Lighting Fixture Market by Application, (2020-2030 USD Mn)
10.6.2.4. Japan Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
10.6.3. India
10.6.3.1. India Lighting Fixture Market by Source, (2020-2030 USD Mn)
10.6.3.2. India Lighting Fixture Market by Product, (2020-2030 USD Mn)
10.6.3.3. India Lighting Fixture Market by Application, (2020-2030 USD Mn)
10.6.3.4. India Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
10.6.4. Rest of Asia Pacific
10.6.4.1. Rest of Asia Pacific Lighting Fixture Market by Source, (2020-2030 USD Mn)
10.6.4.2. Rest of Asia Pacific Lighting Fixture Market by Product, (2020-2030 USD Mn)
10.6.4.3. Rest of Asia Pacific Lighting Fixture Market by Application, (2020-2030 USD Mn)
10.6.4.4. Rest of Asia Pacific Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)

11. Latin America (LATAM) Lighting Fixture Market Analysis and Forecast, 2020 - 2030 (USD Mn)

11.1. Overview
11.2. Latin America Lighting Fixture Market by Source, (2020-2030 USD Mn)
11.3. Latin America Lighting Fixture Market by Product, (2020-2030 USD Mn)
11.4. Latin America Lighting Fixture Market by Application, (2020-2030 USD Mn)
11.5. Latin America Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
11.6. Latin America Lighting Fixture Market by Country, (2020-2030 USD Mn)
11.6.1. Brazil
11.6.1.1. Brazil Lighting Fixture Market by Source, (2020-2030 USD Mn)
11.6.1.2. Brazil Lighting Fixture Market by Product, (2020-2030 USD Mn)
11.6.1.3. Brazil Lighting Fixture Market by Application, (2020-2030 USD Mn)
11.6.1.4. Brazil Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
11.6.2. Mexico
11.6.2.1. Mexico Lighting Fixture Market by Source, (2020-2030 USD Mn)
11.6.2.2. Mexico Lighting Fixture Market by Product, (2020-2030 USD Mn)
11.6.2.3. Mexico Lighting Fixture Market by Application, (2020-2030 USD Mn)
11.6.2.4. Mexico Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
11.6.3. Rest of Latin America
11.6.3.1. Rest of Latin America Lighting Fixture Market by Source, (2020-2030 USD Mn)
11.6.3.2. Rest of Latin America Lighting Fixture Market by Product, (2020-2030 USD Mn)
11.6.3.3. Rest of Latin America Lighting Fixture Market by Application, (2020-2030 USD Mn)
11.6.3.4. Rest of Latin America Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)

12. Middle East and Africa Lighting Fixture Market Analysis and Forecast, 2020 - 2030 (USD Mn)

12.1. Overview
12.2. MEA Lighting Fixture Market by Source, (2020-2030 USD Mn)
12.3. MEA Lighting Fixture Market by Product, (2020-2030 USD Mn)
12.4. MEA Lighting Fixture Market by Application, (2020-2030 USD Mn)
12.5. MEA Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
12.6. Middle East and Africa Lighting Fixture Market, by Country, (2020-2030 USD Mn)
12.6.1. GCC
12.6.1.1. GCC Lighting Fixture Market by Source, (2020-2030 USD Mn)
12.6.1.2. GCC Lighting Fixture Market by Product, (2020-2030 USD Mn)
12.6.1.3. GCC Lighting Fixture Market by Application, (2020-2030 USD Mn)
12.6.1.4. GCC Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
12.6.2. South Africa
12.6.2.1. South Africa Lighting Fixture Market by Source, (2020-2030 USD Mn)
12.6.2.2. South Africa Lighting Fixture Market by Product, (2020-2030 USD Mn)
12.6.2.3. South Africa Lighting Fixture Market by Application, (2020-2030 USD Mn)
12.6.2.4. South Africa Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)
12.6.3. Rest of MEA
12.6.3.1. Rest of MEA Lighting Fixture Market by Source, (2020-2030 USD Mn)
12.6.3.2. Rest of MEA Lighting Fixture Market by Product, (2020-2030 USD Mn)
12.6.3.3. Rest of MEA Lighting Fixture Market by Application, (2020-2030 USD Mn)
12.6.3.4. Rest of MEA Lighting Fixture Market by Distribution Channel, (2020-2030 USD Mn)

13. Company Profiles

13.1. Koninklijke Philips N.V.
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. Cree Inc.
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. General Electric
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Hubbell Lighting, Inc.
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. Acuity Brands, Inc.
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. Eaton Corporation
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. Panasonic Corporation
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. OSRAM Licht AG
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. Nichia Corporation
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. Everlight Electronics Co., Ltd.
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis

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