DUBLIN, Sept. 23, 2022 /PRNewswire/ — The “Lighting Fixtures and Luminaires – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Lighting Fixtures and Luminaires Market to Reach US$110.6 Billion by the Year 2026
The global market for Lighting Fixtures and Luminaires estimated at US$84.1 Billion in the year 2022, is projected to reach a revised size of US$110.6 Billion by 2026, growing at a CAGR of 6.1% over the analysis period.
Growth in the market is dependent on the dynamics of the construction industry, particularly in the developing countries, automotive production trends, and increased acceptance of LEDs as more efficient light sources.
Fueled by growing concerns for conserving scarce energy sources, the global lighting fixtures market is expected to witness stable growth. Real estate segment and rising popularity of sustainable technologies is propelling demand for lighting fixtures. Rising adoption of LED lighting is expected to create demand for fixtures that are designed specifically for LEDs.
Increasing urbanization, changing demographics and innovations in fixtures targeted mainly at improving functionality represent other key market growth drivers. Other factors promoting market expansion in the short-term include robust demand for outdoor lighting fixtures supported by strong non-building construction such as bridges, highways, and public works.
Non-Portable, one of the segments analyzed in the report,…