Surge in Motor Vehicle Production and Rebound in the Construction Activity Drives the Lighting Fixtures Market, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on the Lighting Fixtures markets. The global market for Lighting Fixtures is forecast to reach US$121 billion by the year 2018. Major factors driving growth in the market include increasing motor vehicle production, rebound in construction activity, retrofitting of the already existing buildings, technological advancement in non-incandescent portable and non-portable fixtures, and growing demand for energy efficient products, including LEDs and CFLs.
San Jose, California (PRWEB) September 24, 2012
Follow us on LinkedIn — Constant developments in the commercial, residential, public, and industrial lighting segments have, over the years, driven the global lighting fixtures market. In addition to these, various factors, such as technology and consumer preferences greatly influence the lighting fixtures market. Developments in the lamps market also wield significant amount of influence on the lighting fixtures market. For instance, with lamp technology racing ahead, fixtures are becoming much more technologically advanced. Also, as the energy efficiency wave sweeps across the lamp markets, efforts are ongoing on the part of manufacturers to develop new fixtures that are energy efficient, and at the same time exhibit an aesthetic appeal.
Despite the exuberance emanated over the years, the industry came under the shadow of the recent global economic slowdown. This factor, coupled with a marginal increase in prices, hindered the industry growth during the recessionary period. However, the industry managed to rebound from 2010 onwards, backed by strong recovery in the motor vehicle production, and a gradual rebound in the construction industry. In the near term, the recovery of the residential construction sector, along with the sustained increase in the non-residential building activity, is expected to drive the growth in the lighting fixtures market. The market is also expected to reap benefits from the steady growth anticipated for Vehicular lighting market over the next five years, particularly from the developed markets, as the automotive output, which underwent a major decline during the recent past in these countries, is expected to witness a faster rebound compared to the developing nations. Further, as latest vehicles continue to embrace innovative lighting schemes, manufacturers of lighting fixtures see an increased demand for their products. Also, growing trend towards incorporating expensive modern solutions, such as LED lighting in automobiles, is further expected to heighten the demand for vehicular lighting fixtures in the coming years.
Non-portable lighting fixtures, accounting for a major share of the global lighting fixtures market, constitutes the largest product segment in the global lighting fixtures market. Though the demand for non-portable lighting fixtures as a percentage of total lighting fixtures is expected to witness slower growth, the category is still expected to continue its lead over the coming years. Lighting fixtures in the construction market is expected to remain dominant, with non-portable fixtures largely being used in buildings as well as non-building sectors. The recovery in housing construction activities is likely to increase the demand for portable lighting fixtures, and the discretely sold parts and accessories.
Asia-Pacific constitutes the largest and the fastest growing regional market for lighting fixtures, as stated by the new market research report on Lighting Fixtures. Though industrialized countries, such as the US, Europe, and Japan, continue to hold a significant share of the global lighting fixtures market, emerging economies in Asia and Eastern Europe are considered as the substantial growth markets by lighting fixture manufacturers. Sales of lighting fixtures in the Asia-Pacific region are projected to reflect the fastest CAGR of 6.4% over the analysis period. The rapidly growing non-residential construction work in China and India is likely to create a considerably huge market for lighting fixtures. After a periodic lull during the past decade, lighting fixtures market in Eastern Europe is expected to receive major strength from strong motor vehicle production, propelling the demand for motor vehicular lighting fixtures.
The global lighting fixtures industry comprises several companies engaged in the development and manufacture of a wide range of fixtures, from basic sconces to complex chandeliers. The industry is highly fragmented, despite the presence of a few players with dominant regional market shares. Select major players profiled in the report include Acuity Brands Lighting Inc., Advanced Lighting Technologies Inc., Cooper Industries, Cooper Lighting, Evolution Lighting LLC, GE Lighting, Hubbell Lighting Inc., Alera Lighting, Koito Manufacturing Company Ltd., Panasonic Electric Works Corporation of America, Universal Lighting Technologies Inc., OSRAM GmbH, Royal Philips, Thomas Lighting, Targetti, Toshiba Lighting & Technology Corp., Visteon Corporation, and Zumtobel AG Group, among others.
The research report titled “Lighting Fixtures: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides comprehensive market overview of the lighting fixtures market, current market trends and issues, insight into different lamp types, overview of leading technologies, recent product innovations/introductions, recent industry activity, and profiles of leading and niche global and regional market players. Analysis and overview is provided for the years 2010 through 2018, for major geographic markets, such as US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Market analytics are provided for Lighting Fixtures for global and regional markets in terms of US$ Million. Product segments analyzed include Portable Lighting Fixtures, Non-Portable Lighting Fixtures, and Parts and Accessories. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.
For more details about this comprehensive market research report, please visit —
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
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