Decorative Lighting Market Updates

Decorative Lighting Market size was valued at USD 40 Billion in 2023 and is poised to grow from USD 41.4 Billion in 2024 to USD 56.43 Billion by 2032, growing at a CAGR of 3.5% during the forecast period (2025-2032).

The decorative lighting market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The decorative lighting industry's top players are embracing strategic collaboration initiatives to improve decorative lighting market share and profitability. Some of the major players in the market are Acuity Brands, Inc., Bridgelux, Inc., General Electric Co., Ideal Industries, Inc., Juno Lightings. LLC, AZZ, Inc., Fagerhult Group, Inc., Honeywell International, Inc., OSRAM Light AG, Signify NV among others. 'Acuity Brands, Inc. ', 'Maxim Lighting International ', 'Generation Lighting ', 'Savant Systems, Inc. ', 'Lowe's Companies, Inc. ', 'Bridgelux, Inc. ', 'Crest LED Lighting Manufacturing ', 'Fagerhults Belysning AB ', 'Honeywell International Inc. ', 'Hubbell Incorporated ', 'Ideal Industries, Inc. ', 'Nichia Corporation ', 'GE Lighting  ', 'Juno Lighting, LLC ', 'Signify Holding B.V. ', 'Amerlux LLC ', 'OSRAM GmbH ', 'Littman Brands ', 'Tech Lighting ', 'Philips Lighting'

The growing influence of social media influencers and various home décor web series on consumers is increasing demand for various types of decorative lighting fixtures. Fixtures of various shapes, sizes, colors, and materials are required. Fiber fixtures are the most common, but glass, ceramic, bamboo, carved wood, and fabric fixtures are also popular.

Energy consumption can be reduced by up to 90% by using LEDs and fluorescent lighting. They are also less expensive to maintain and have a longer lifespan. A lower electric bill results from reduced energy consumption. As a result of these factors, many businesses are switching from traditional incandescent lights to energy-efficient lights in order to save money. Individual consumer demand for these lights is increasing as prices fall. As a result, the rising demand for energy-efficient lighting will propel the decorative lighting market forward in the coming years.

North America had the largest decorative lighting market in 2023, accounting for more than 35% of global revenue. The availability of electricity to every single household in the United States and Canada is critical to the adoption of innovative decorative lighting. According to the American Hotel & Lodging Association, there are over 55,000 hotel properties in the United States. Hotels use decorative lighting to create a rich experience that is expected to calm and soothe its residents. Growing population and rapid urbanization in developing countries such as China, India, and others are expected to make the Asia Pacific the fastest-growing market.