World lighting fixtures market to reach US$118 billion by 2015, according to Global Industry Analysts, Inc.
Lighting fixtures market witnessed exuberant growth during late 1990s to the year 2007, owing to the constant developments in the commercial, residential, public, and industrial lighting segments. Growth in the market has also been driven by increasing demand from major end-use sectors, including industrial and construction. The market for lighting fixtures, however, witnessed a slowdown from 2008 onwards owing to the global economic recession and the slump in construction industry. The market is forecast to recover and gain momentum, starting from 2011. Despite lackluster construction activity, the construction industry is expected to remain the core source for lighting fixtures.
Though industrialized countries such as Europe and the US continues to be major lighting fixtures markets, emerging economies in Eastern Europe and Asia are considered as substantial growth markets by lighting fixture manufacturers. Asia-Pacific is forecast to grow at a CAGR of more than 6.0% during the analysis period. The rapidly growing non-residential construction work in China, Russia, and India is likely to create a considerably huge market for lighting fixtures. In the United States, demand is expected to pick up with improvement in motor vehicle production, residential construction, and transportation infrastructure.
Non-portable fixtures constitute the largest market for lighting fixtures, accounting for a major share of the market, as stated by a new market research report on Lighting Fixtures. Though demand for non-portable lighting fixtures as a percentage of total lighting fixtures is expected to decline, the segment is expected to maintain its dominance in the future. Non-portable fixtures such as vehicular lighting fixtures and industrial fittings are expected to register increased demand. Meanwhile, fluorescent and other non-incandescent portable fixtures, such as those using Light Emitting Diodes (LED) light sources, are also expected to witness increased gains over the long-term. Based on frequent usage, lamp ballasts and other components are expected to exhibit rapid growth in the industrial and commercial retrofit lighting. In addition, there is a continuing trend towards Solid-State Lighting (SSL) technology, owing to its advanced and energy saving attributes that would further fuel growth in the global market for lighting fixtures.
Key players profiled in the report include Acuity Brands Lighting Inc., Advanced Lighting Technologies, Inc., Catalina Lighting Inc., Cooper Crouse-Hinds Inc., Cooper Lighting, GE Lighting Systems Inc., Grote Industries, Inc., Hubbell Lighting Inc., Juno Lighting Group, Koito Manufacturing Company Ltd., Lightolier, Panasonic Electric Works Co. Ltd., Morlite Systems Inc., OSRAM GmbH, Philips Lighting B.V., Professional Luminaires North America, Ruud Lighting Inc., SIMKAR Corp., Taschibra Brasil, Thomas Lighting Residential, Toshiba Lighting & Technology Corp., Visteon Corp., Zumtobel AG Group, among others.
The report titled "Lighting Fixtures: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the Lighting Fixtures market, current market trends, growth drivers, new product introductions, recent industry activity, and focus on major and niche global as well as regional market participants. The study analyzes market data and analytics in terms of value sales for global as well as regional markets, including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Key product segments analyzed include Portable lighting fixtures, Non-Portable lighting fixtures, and Parts & Accessories.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Lighting_Fixtures_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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