Global Decorative Lighting Market Report and Forecast 2024-2032

Global Decorative Lighting Market Outlook

The global decorative lighting market is expected to grow in the forecast period of 2024-2032 at a CAGR of 3.2%.

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Growing Demand for Decorative Lighting to Enhance Aesthetics in the Commercial and Domestic Sectors is Aiding the Market Growth

The rising trend of interior designing in both domestic and commercial buildings is aiding the market growth of decorative lighting. As lighting is one of the most significant aspects of interior designing, it is being widely deployed to enhance the aesthetics of an area. Moreover, the increasing remodelling and renovation activities in both developed and developing countries are leading to a surge in the use of decorative lighting, which is augmenting the market growth. The trend has been escalated during the COVID-19 outbreak that increased the focus of homeowners on interior designing owing to stay-at-home orders and national lockdowns, therefore significantly contributing to the industry growth.

Growing Demand for LED Decorative Lighting is Catalysing the Market Growth

The growing demand for LED decorative lighting owing to their cost-effectiveness and energy efficiency is aiding the industry growth. It is rapidly replacing incandescent decorative lighting owing to its durability and versatility, which is consequently surging its demand. In addition, LED lightings are available in diverse colours, shapes, and brightness, which makes them ideal for use in various decorative styles, hence invigorating the growth of the decorative lighting industry.

Decorative Lighting: Market Segmentation

Decorative lighting is a type of lighting that is deployed to enhance the beauty of enclosed space, home, and outdoor space. It can highlight various models, objects, and paintings in rooms and halls while increasing the overall aesthetics of rooms. Moreover, it is available in various textures, styles, shapes, and colours, among others, due to which it is increasingly deployed in residential and commercial spaces.

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The major light sources of decorative lighting are:

• LED
• Fluorescent
• Incandescent
• Others

The market can be broadly categorised on the basis of products into:

• Ceiling
• Wall Mounted
• Others

Based on end use, the market is bifurcated into:

• Commercial
• Household

By distribution channel, the industry is divided into:

• Offline 
• Online

The EMR report looks into the regional markets of decorative lighting like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Decorative Lighting in Residential Spaces to Provide Relaxation Effects to Bolster the Market Growth

The increasing trend of bedroom lighting that can provide relaxation effects while appealing to the eye is augmenting the industry growth. Moreover, the surging environmental consciousness is increasing the demand for decorative lights made up of organic materials, which is further bolstering the market growth. The rising demand for ceiling-mounted decorative lighting to transform rooms to enhance the aesthetics of rooms is fuelling the market growth. In addition, the advent of dynamic lighting that can be controlled by smartphones is significantly contributing to the growth of the decorative lighting industry.

The growing demand for smart decorative lighting to automate the intensity of lighting is augmenting the market growth. As smart lightings have features, such as occupancy and daylight sensors, it consumes a low amount of electricity and energy, which is further invigorating the market growth of decorative lighting. Furthermore, as smart lighting can also change the lighting moods as per space and mood preferences, the demand for decorative lighting is escalating, which is expected to propel the industry growth in the forecast period.

Key Industry Players in the Global Decorative Lighting Market

The report presents a detailed analysis of the following key players in the global decorative lighting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Acuity Brands Lighting Inc.
• Maxim Lighting International, Inc.
• Generation Lighting
• Savant Systems, Inc.
• Lowe's Companies, Inc.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report