Decorative Lighting Market Size, Share, Industry Trends and Forecast to 2033
This market report provides a comprehensive analysis of the Decorative Lighting industry, highlighting trends, forecasts, and segmentation insights from 2023 to 2033. The data includes market size estimations, key player profiles, and regional analysis for informed decision-making.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $9.30 Billion |
| CAGR (2023-2033) | 6.8% |
| 2033 Market Size | $18.28 Billion |
| Top Companies | Philips Lighting, General Electric Company (GE), Osram Licht AG, Acuity Brands, Inc., Lutron Electronics |
| Last Modified Date | 15 Nov 2024 |
Decorative Lighting Market Report (2023 - 2033)
Decorative Lighting Market Overview
What is the Market Size & CAGR of Decorative Lighting market in 2023?
Decorative Lighting Industry Analysis
Decorative Lighting Market Segmentation and Scope
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Decorative Lighting Market Analysis Report by Region
Europe Decorative Lighting Market Report:
Europe's Decorative Lighting market is predicted to grow from USD 2.28 billion in 2023 to USD 4.48 billion by 2033. The region's focus on energy efficiency and design aesthetics, along with rising consumer demand for sustainable products, is playing a crucial role in this growth trajectory.Asia Pacific Decorative Lighting Market Report:
In 2023, the Asia Pacific Decorative Lighting market is estimated at USD 2.02 billion, projected to grow to USD 3.98 billion by 2033, driven by urbanization and rising disposable incomes in countries like China and India. The region's burgeoning middle class and increasing interior design awareness are further catalyzing market expansion.North America Decorative Lighting Market Report:
In North America, the market stands at USD 3.30 billion in 2023 with projections of USD 6.48 billion by 2033. The surge is supported by a strong housing market and a preference for smart lighting solutions. Increased consumer spending on home improvement further contributes to market growth in this region.South America Decorative Lighting Market Report:
In South America, the market for Decorative Lighting is valued at USD 0.90 billion in 2023, expected to reach USD 1.77 billion by 2033. Growth in this region is attributed to a rise in construction projects and enhanced living standards, along with a growing consumer shift toward aesthetically pleasing lighting options.Middle East & Africa Decorative Lighting Market Report:
The Middle East and Africa market is valued at USD 0.80 billion in 2023, with expectations of reaching USD 1.57 billion by 2033. Factors driving this growth include investment in infrastructure projects, increasing tourism, and a focus on luxury and high-end decorative lighting in the hospitality sector.Request a custom research report for industry.
Decorative Lighting Market Analysis By Type
Global Decorative Lighting Market, By Type Market Analysis (2023 - 2033)
The Decorative Lighting Market by type encompasses various products beneficial for aesthetic appeal and functionality. Notably, Pendant Lights dominate the segment, valued at USD 5.89 billion in 2023 and projected to reach USD 11.57 billion by 2033, accounting for 63.31% market share. Wall Lights follow, with a market size of USD 2.46 billion in 2023, expected to expand to USD 4.84 billion by 2033, reflecting a 26.46% share. Ceiling Lights, while smaller, contribute USD 0.95 billion and will grow to USD 1.87 billion, holding a 10.23% market share.
Decorative Lighting Market Analysis By Material
Global Decorative Lighting Market, By Material Market Analysis (2023 - 2033)
In terms of material, Metal remains the preferred choice, representing a market size of USD 5.89 billion in 2023, projected to double by 2033 to USD 11.57 billion (63.31% share). Glass products are valued at USD 2.46 billion in 2023, with expectations of growing to USD 4.84 billion (26.46% share) by 2033. Fabric materials represent a smaller segment, expanding from USD 0.95 billion to USD 1.87 billion, holding a 10.23% market share.
Decorative Lighting Market Analysis By Application
Global Decorative Lighting Market, By Application Market Analysis (2023 - 2033)
By application, the Residential segment leads the market, valued at USD 5.31 billion in 2023, projected to reach USD 10.43 billion by 2033. The Commercial application segment will see a rise from USD 1.87 billion to USD 3.68 billion, while the Hospitality sector grows from USD 1.09 billion to USD 2.15 billion. Outdoor and Ambient lighting applications also show growth potential.
Decorative Lighting Market Analysis By Style
Global Decorative Lighting Market, By Style Market Analysis (2023 - 2033)
Analyzing styles, Modern decorative lighting leads with a market size of USD 5.31 billion set to reach USD 10.43 billion by 2033 (57.05% market share). The Traditional lighting style is valued at USD 1.87 billion in 2023 and will see growth to USD 3.68 billion (20.12% share). Vintage styles also capture attention, escalating from USD 1.09 billion to USD 2.15 billion by 2033.
Decorative Lighting Market Analysis By Functionality
Global Decorative Lighting Market, By Functionality Market Analysis (2023 - 2033)
The Decorative Lighting Market by functionality illustrates that Ambient Lighting dominates, sized at USD 5.89 billion in 2023, projected to rise to USD 11.57 billion (63.31% share). Task Lighting expands from USD 2.46 billion to USD 4.84 billion (26.46% share), while Accent Lighting is noted for its specialty, from USD 0.95 billion to USD 1.87 billion (10.23% share) by 2033.
Decorative Lighting Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Decorative Lighting Industry
Philips Lighting:
Philips Lighting is a leader in the decorative lighting market, known for its innovative solutions and comprehensive range of products, including smart lighting technologies.General Electric Company (GE):
GE has a strong presence in decorative lighting, particularly with its energy-efficient products tailored for both residential and commercial applications.Osram Licht AG:
Osram is renowned for its advanced lighting solutions that focus on sustainability and innovative design in decorative lighting.Acuity Brands, Inc.:
Acuity Brands specializes in architectural and decorative lighting, with a broad portfolio that enhances aesthetic and functional aspects of interior spaces.Lutron Electronics:
Lutron is a key player focusing on smart lighting solutions, providing advanced technology that transforms the decorative lighting landscape.We're grateful to work with incredible clients.
