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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Lighting Fixtures and Luminaires market. Market segmentation includes End-Use (Residential Lighting, Automotive Lighting, Office Lighting, Outdoor Lighting, Architectural Lighting, Other End-Uses); Product Segment (Non-Portable, Portable, Parts & Accessories).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

5 November 6:30 p.m., California- According to the new market research report, the global market for Lighting Fixtures and Luminaires is projected to grow at a CAGR of 5.2% reach US$112.9 Billion by 2027, with growth fueled by rising concerns over conserving scarce energy sources and the need to minimize power consumption, which is in turn driving demand for energy-efficient solutions. The global Lighting Fixtures and Luminaires market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Non-Portable, one of the segments analyzed and sized in this study, is forecast to grow at over 5.5% and reach a market size of US$85.2 billion by the end of the analysis period. The United States is forecast to readjust to a 4.4% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$5.5 billion growing at a CAGR% of 2.5% over the next couple of years. In addition, over US$1 billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Non-Portable segment will reach a market size of US$5.3 billion by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Non-Portable segment in this country against this backdrop will grow at a CAGR of 7% over the next couple of years to create an addressable market opportunity worth US$19.5 billion by the year 2027.

Lighting fixtures are designed and constructed to collect, distribute, reflect, direct, or diffuse light from any electric light source for general or localized illumination. Fixtures tend to have a long life and outlast light sources/lamps that are fitted to them and comprise miscellaneous parts and accessories such as lighting controls, ballasts, timers and such other products required for the smooth functioning of the light source. LED lighting, which evolved into the core lighting format across various end-use domains, is wielding a major influence on the fixtures and luminaires market. High energy-efficiency, optimal durability, and comparatively low total cost-of-ownership as compared to the other luminescent lights, are factors that are supporting rapid penetration of LED lighting products across the world, which in turn is driving demand for LED luminaires. Increase in the green building construction activities, and retrofitting of the already existing buildings for conversion in green buildings, is driving the demand for energy-efficient lighting fixtures. Continuous developments in the residential, commercial, industrial and public lighting markets resulted in significant developments in the lighting fixtures market over the years. Increasing governmental pressure on both industrial and commercial sectors to reduce energy consumption would be the key factor that would fuel fixture demand from these markets. Demand for outdoor lighting fixtures supported by strong non-building construction such as bridges, highways, and public works. The expected decline in prices of LED fixtures through the usage of low-cost materials such as thermal plastics in place of the high priced aluminum is also expected to bode well for the market. However, high cost of new luminaire installation is one major market impediment.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 16432. Among this pool, 1643 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 329 unique participations, a total of 148 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Eaton Corporation PLC
Cree, Inc.
Havells India Ltd.
Bajaj Electricals Ltd.
Acuity Brands Lighting Inc.
Fagerhults Belysning AB
Amerlux LLC
American Electric Lighting
Current, Powered by GE
ELK Group International, Inc.
Feilo Sylvania
FW Thorpe PLC

Segments Covered in the Report -
Product Segment (Non-Portable, Portable, Parts & Accessories)
End-Use (Residential Lighting, Automotive Lighting, Office Lighting, Outdoor Lighting, Architectural Lighting, Other End-Uses)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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