Global Decorative Lighting Market: COVID-19 Business Continuity Plan | Evolving Opportunities with AB Fagerhult and Acuity Brands Inc.

The global decorative lighting market size is expected to grow by USD 6.29 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 4%. Request Free Sample Report on COVID-19 Impacts

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Technavio has announced its latest market research report titled Global Decorative Lighting Market 2020-2024 (Graphic: Business Wire)

Read the 120-page report with TOC on “Decorative Lighting Market Analysis Report by Product (Ceiling, Wall-mounted, and Others) and Geography (APAC, Europe, North America, South America, and MEA), and the Segment Forecasts, 2020-2024”.

The market is driven by the growing demand for energy-efficient decorative lighting products. In addition, the evolving lighting product design concept is anticipated to boost the growth of the Decorative Lighting Market.

Globally, customers are seeking lighting products that utilize less energy, are long-lasting, and incur low electricity bills. In addition, the growing awareness of energy-efficient lighting products through government initiatives and distinct activities is encouraging energy conservation. Such factors will influence the demand for energy-efficient decorative lighting products. Thus, manufacturers of decorative lighting products are emphasizing on producing energy-efficient products such as chandeliers, pendant lights, flush mounts, table lamps, and others. For instance, Generation Lighting offers LED products such as Orren Medium LED Chandelier and Ledgend Large LED Outdoor Sconce. These products consume less energy and are long-lasting. Thus, the growing demand for energy-efficient lighting products will drive the growth of the market.

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Major Five Decorative Lighting Companies:

AB Fagerhult

AB Fagerhult has its business operations under four segments: Northern Europe; UK and Ireland; Western and Southern Europe; and Africa, Asia, and the Pacific. The company offers decorative lighting under the brands, Zkye 55 Pendant, Notor 65 Opal Wall, Skywalker, and other brands.

Acuity Brands Inc.

Acuity Brands Inc. operates under a single business unit through which it conducts the sale of its products and develops solutions. The company offers decorative lighting under the brand, Lithonia Lighting.

Bridgelux Inc.

Bridgelux Inc. offers indoor and outdoor LED lighting solutions for a number of industries including retail, hospitality, and healthcare among others. The company offers decorative lighting under the brand, Bridgelux Décor Series.

General Electric Co.

General Electric Co. has business operations under four segments: power, renewable energy, aviation, and healthcare. The company offers decorative lighting under the brands, GE LED, GE HD Relax, and others.

Generation Lighting

Generation Lighting offers various products such as chandeliers, pendants, flush mounts, table lamps, floor lamps, fans, and other products. The company offers decorative lighting under the brands, Beckham Classic Sconce, Capri Sconce, Beckham Modern Sconce, and others.

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Decorative Lighting Market Product Outlook (Revenue, USD bn, 2020-2024)

  • Ceiling – size and forecast 2019-2024

  • Wall-mounted – size and forecast 2019-2024

  • Others – size and forecast 2019-2024

Decorative Lighting Market Regional Outlook (Revenue, USD bn, 2020-2024)

  • APAC – size and forecast 2019-2024

  • Europe – size and forecast 2019-2024

  • North America – size and forecast 2019-2024

  • South America – size and forecast 2019-2024

  • MEA – size and forecast 2019-2024

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
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