North America Decorative Lighting Market to Register a CAGR of 6.6%, QYResearch, Inc.
Industry: Market Research
Decorative Lighting market was valued worth US$ 5.0 Bn in 2018 and is likely to reach US$ 7.9 Bn by 2025 end.
Los Angeles, CA (PRUnderground) January 28th, 2020
QY Research is poised to offer a detailed market report on Decorative Lighting market in North America. The market report is titled, “North America Decorative Lighting Market Insight, Forecast to 2025” that offers crucial insights of the market. According to this report, the global Decorative Lighting market was valued worth US$ 5.0 Bn in 2018 and is likely to reach US$ 7.9 Bn by 2025 end. The global market is predicted to register a robust CAGR of 6.6% from 2018 to 2025.
Decorative Lighting Market – Key Trends
- Decorative Lighting have an increasing demand as these lights are installed to improve the ambiance of a place and to enhance the visual appeal
- Modern décor incorporates Decorative Lighting to complement floor, furniture, walls, and others
- Decorative Lighting has major applications in homes, restaurants, clubs, malls, shops, spa, parlors, and other places
- Flash-mount lighting is becoming increasingly popular due to its usage in dining, office, pantry, kitchen, and hallways
- Customizable Decorative Lighting products made of glass and ceramic are gaining popularity due to their elegant look
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Energy-Efficient LED Lights to Augment the Growth of the LED Lighting Segment
The type segment of the market is classified into CFL Lighting, Incandescent Lighting, and LED Lighting. LED Lighting has a long life span and these lights are eco-friendly as they do not contain mercury. LED Lighting is Energy-efficient and is supported by governments around the world, which is likely to benefit the LED Lighting segment in the future. The application segment of the market is divided into commercial and residential segments.
Malls Spending Heavily on Decorative Lights in the U.S. to Boost the Growth of the Regional Market
Developed power generation sector particularly in Canada, and U.S. is largely responsible for the popularity of Decorative Lights. The majority of Malls in the U.S. heavily spend on Decorative Lighting to create a vibrant and welcoming atmosphere to engage customers. Hotels, restaurants, pubs, and malls need decorative lights to set the mood and to create a warm and cheery atmosphere. Hotels in the U.S. have a huge demand for Decorative Lighting to enrich the visual appeal of the place and to create a calming and soothing effect.
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Key Players – LEDVANCE Showcases New Product Line
Manufacturers are keen to offer innovative products with smart technology and are focusing to produce technologically compatible products.
For instance, in 2019 LEDVANCE showcased new LED Lamps at Light fair International to make distribution easy and plans to roll out the products during summer.
Some of the major players operating in the market are Signify, Acuity Brands, GE Lighting, LEDVANCE, Hubbell, Ideal Industries, Kichler, Copper, Maxim Lighting, Generation Brands, Hudson Valley Lighting, Leviton, and Feit Electric Company.
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