Global Market Study on Residential Lighting Fixtures: Rapid Penetration of Smart Lighting Fixtures Fueling Demand


Residential Lighting Fixtures  Market
  • Published On : Dec-2018 |
  • Pages : 215 Pages |
  • Format :

Report Synopsis

Persistence Market Research offers an 8-year forecast for the residential lighting fixture market between 2018 and 2026. In terms of value, the residential lighting fixture market is expected to register a CAGR of 4.5% during the forecast period. The study demonstrates the market dynamics and trends globally across various regions, which include North America, Latin America, Europe, China, Japan, South East Asia and the Middle East & Africa, which influence the current nature and future status of the residential lighting fixture market over the forecast period.

Report Description

This research report provides a detailed analysis of the residential lighting fixture market and offers insights on the various factors. The market study also provides a comprehensive assessment of the stakeholder strategies and imperatives for succeeding in the business. The report segregates the residential lighting fixture market based on fixture, lighting source, pricing and module across different regions globally.

Key players are introducing technologically advanced and smart residential lighting fixture. Regions such as China are witnessing a rapid change in their economy as well as a rural to urban shift. Developing countries such as SEA and Europe are witnessing rapid urbanization and growth in disposable income. These changes are creating significant demand for the deployment of lighting fixture in the residential segment.

The report starts with an overview of the global residential lighting fixture market in terms of value. In addition, this section includes an analysis of thy key trends, drivers and restraints, which are influencing the residential lighting fixture market. The impact analysis of key growth drivers and restraints are included in this report to facilitate clients with crystal-clear decision-making insights.

The global residential lighting fixture market is categorized based on the fixture, lighting source, pricing and region.

On the basis of fixture, the residential lighting fixture market is segmented into recessed fixture, flush mount, vanity fixture, under cabinet, outdoor and others. Based on lighting source, the residential lighting fixture market is segmented into incandescent, fluorescent and LED & OLED. On the basis of pricing, the residential lighting fixture market is segmented into premium (above US$ 350), medium (US$ 200 - US$ 350) and low (up to US$ 200) segments. A detailed analysis has been provided for every segment in terms of the market size analysis for the residential lighting fixture market across different regions.

The next section consists of a detailed analysis of residential lighting fixture across various countries in the region. It provides a market outlook for 2018–2026 and sets the forecast within the context of the residential lighting fixture market, which includes the latest technological developments in the market. This study discusses the key trends within countries contributing to growth of the residential lighting fixture market, as well as analyses the degree at which drivers are influencing the residential lighting fixture market in each region. The key regions and countries assessed in this report include North America (U.S. & Canada), Latin America (Brazil, Mexico, & the rest of Latin America), Europe (Germany, UK, France, Italy, Spain, BENELUX, Russia, & the rest of Europe), China, Japan, SEA & others of APAC (India, Australia & New Zealand, ASEAN, and the rest of SEA & other APAC), MEA (North Africa, South Africa, GCC, Turkey, & the rest of MEA).

This residential lighting fixture report evaluates the present scenario and the growth prospects of the residential lighting fixture market across various regions globally for the period 2018 –2026. We have considered 2017 as the base year and provided data for the remaining 12 months. The forecast presented here assesses the total revenue by value across the residential lighting fixture market. To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the residential lighting fixture market will develop in the future. Given the characteristics of the residential lighting fixture market, we have triangulated the outcome of different lighting source types and pricing analyses based on the technology trends.

In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze on the basis of key parameters, such as Year-on-Year (Y-o-Y), growth to understand the predictability of the residential lighting fixture market and to identify the right opportunities in the market.

In the final section of the report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the residential lighting fixture portfolio, and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the residential lighting fixture value chain, and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate the key competitors based on an in-depth assessment of their capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term & short-term strategies, key offerings, and recent developments in the residential lighting fixture market. Some of the key competitors in the residential lighting fixture market are Kenroy Homes; Cree, Inc.; L.D. Kichler Co.; General Electric; Koninklijke Philips N.V.; OSRAM Licht AG; Signify NV; Acuity Brands Lighting, Inc.; Panasonic Corporation; Eaton Corporation; and Hubbell Lighting, Inc.

Key Segments Covered

  • Fixture
    • Recessed fixture
    • Flush mount
    • Vanity fixture
    • Under cabinet
    • Outdoor
    • Others
  • Lighting source
    • Incandescent
    • Fluorescent
    • LED & OLED

Key Regions Covered

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • BENELUX
    • Rest of Europe
  • SEA and Other Asia Pacific
    • India
    • Australia & New Zealand
    • ASEAN
    • Rest of SEA & other APAC
  • China
  • Japan
  • Middle East & Africa
    • North Africa
    • South Africa
    • GCC
    • Turkey
    • Rest of Middle East & Africa

Key Companies

  • Cree, Inc.
  • Koninklijke Philips N.V.
  • Hubbell Lighting, Inc.
  • General Electric
  • OSRAM Licht AG
  • Signify NV,
  • Acuity Brands Lighting, Inc.
  • Panasonic Corporation
  • D. Kichler Co.
  • Eaton Corporation
  • Kenroy Homes
  • Briloner Leuchten GmbH

A lighting fixture is the part of a light that is attached to a ceiling or a wall, where consumers can install lighting elements such as LEDs, incandescent bulbs, or fluorescent bulbs. These lighting elements are easily removable from the fixture.

Nowadays, traditional lighting fixtures are being replaced with smart lighting fixtures owing to the integration of Internet of Things. Residential lighting fixture are illumination solutions that are created to provide customized lighting to residential places such as apartments, villas, houses, and other set-ups. Based on consumer requirements, some of the residential lighting fixture available in the market are architectural, recessed, tracks, under cabinets, pendants, chandeliers, ceilings, wall sconces, desks, floors, and table lamps.

Technological advancements in residential lighting fixtures are expected to boost the experience of customers, which is, in turn, expected to boost the adoption of these systems

Increasing demand for decorative lighting fixtures in the residential segment and the adoption of energy-efficient products such as LEDs & OLEDs are some of the major factors that are expected to drive the residential lighting fixture market during the forecast period. Increasing penetration of smart lighting fixtures is also expected to fuel the residential lighting fixture market during the forecast period. These smart lighting fixtures offer scheduling, comfort dimming, & synchronization with music, and are compatible with smart home products, such as Apple HomeKit, and can be coordinated through personal assist solutions, such as Amazon Alexa, Zigbee, and others. Moreover, the increasing need for smart homes and buildings is expected to increase the demand for energy-saving solutions and infrastructure such as LED lighting fixtures, which is boosting the residential lighting fixture market.

However, lack of proper installation and the availability of low-quality products are some of the factors expected to restrain the growth of the residential lighting fixture market over the forecast period. Owing to the improper implementation of fixture wiring systems, potential customers are likely to find the product unsafe for use, which is also likely to majorly hamper the adoption of lighting fixtures. Moreover, high competition from China-made products is hampering the businesses of regional players in the residential lighting fixture market across the world.

The global residential lighting fixtures market is categorized on the basis of fixtures, lighting source, pricing, and region

On the basis of fixtures, the residential lighting fixture market is segmented into recessed fixtures, flush-mount, vanity fixtures, under-cabinet, outdoor, and others. The flush-mount segment is expected to dominate the residential lighting fixture market with a market share of 21.9% in 2018 and 23.3% in 2026. The flush-mount segment is also estimated to register a CAGR of 5.3% during the forecast period.

Increase in the number of government initiatives for various lighting projects is contributing to the growth of the residential lighting fixtures market

Based on lighting source, the residential lighting fixture market is segmented into incandescent, fluorescent, and LED & OLED. The LED & OLED segment is expected to create an incremental opportunity of US$ 7,382.7 Mn in the residential lighting fixture market during the forecasted period. The LED & OLED segment is expected to dominate the residential lighting fixture market with a market share of 53.9% in 2018 and 56.1% in 2026.

Significant changes in the lifestyle index and increasing disposable income are expected to boost the residential lighting fixtures market

On the basis of pricing, the residential lighting fixture market is segmented into premium (above US$ 350), medium (US$ 200 - US$ 350) and low (up to US$ 200) segments. The medium (US$ 200 - US$ 350) segment is estimated to register a CAGR of 5.0% during the forecasted period. The medium (US$ 200 - US$ 350) segment is expected to create an incremental opportunity of US$ 5,618.7 Mn in the residential lighting fixture market during the forecast period.

North America and China are expected to hold key positions in the residential lighting fixtures market in the coming years

Among the key regional markets, the China residential lighting fixture market is projected to exhibit relatively higher growth in the global market and register a CAGR of over 5.8% during the forecast period. Revenue from the residential lighting fixture market from China and North America is expected to collectively account for over 42.0% of the global residential lighting fixture market revenue in 2018. The providers of residential lighting fixture can focus on expanding across several countries in the SEA & other of APAC and Europe regions.

residential lighting fixtures market

Key competitors in the residential lighting fixture market are Kenroy Homes; Cree, Inc.; L.D. Kichler Co.; General Electric; Koninklijke Philips N.V.; OSRAM Licht AG; Signify NV; Acuity Brands Lighting, Inc.; Panasonic Corporation; Eaton Corporation; and Hubbell Lighting, Inc. A significant number of opportunities are available for vendors in the residential lighting fixture market in the form of smart lighting fixtures and government projects, which will enable them to increase their global footprint. Key players in the market are upgrading their existing products to boost their customer base by improving the experience of customers.

Company Profiles

  • CREE, Inc.
  • Koninklijke Philips N.V.
  • Hubbell Lighting, Inc.
  • General Electric
  • OSRAM Licht AG
  • Signify NV,
  • Acuity Brands Lighting, Inc.
  • Panasonic Corporation
  • L.D. Kichler Co.
  • Eaton Corporation
  • Kenroy Homes
  • Briloner Leuchten GmbH
  • Others.
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