Global Architectural Lighting Market Size, Share, Growth Analysis, By Light Type(LED, and HID), By Application area(Indoor, outdoor), By End-user(Residential, and Commercial) - Industry Forecast 2024-2031

Report ID: SQMIG20D2149 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 87 | Figures: 76

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Global Architectural Lighting Market size was valued at USD 7.70 billion in 2022 and is poised to grow from USD 8.12 billion in 2023 to USD 12.47 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The global architectural lighting market boasts a dynamic and competitive landscape. The industry is characterized by the presence of numerous players, ranging from established lighting manufacturers to emerging technology firms. These competitors vie for market share by offering a diverse array of lighting solutions that cater to both aesthetic and functional requirements. 'Acuity Brands Lighting Inc. (US)', 'IDEAL INDUSTRIES INC. (US)', 'Hubbell (US)', 'Delta Light (Belgium)', 'GE Current (US)', 'Daintree Company (US)', 'Technical Consumer Products, Inc. (US)', 'Siteco GmbH (Germany)', 'Signify Holdings (Netherlands)', 'Zumtobel Group AG (Austria)', 'OSRAM GmbH (Germany)', 'Cree Lighting (US)', 'Seoul Semiconductor Co., Ltd. (South Korea)', 'Samsung (South Korea)', 'Griven S.r.l. (Italy)', 'ERCO GmbH (Germany)', 'Fagerhult Group (Sweden)', 'Lithonia Lighting (US)', 'Thorn Lighting (UK)', 'Aurora Lighting (UK)'

With growing awareness of environmental concerns and the need to reduce energy consumption, architectural lighting manufacturers are focusing on developing products that offer higher efficiency, longer lifespan, and reduced power consumption. Governments and regulatory bodies worldwide are also implementing stricter energy efficiency standards, incentivizing businesses, and consumers to opt for sustainable lighting options. This push towards energy-efficient lighting not only aligns with environmental goals but also helps users lower their operational costs, making it a significant driver in shaping the market's direction.

Shift Towards Human-Centric Lighting: A significant trend in the global architectural lighting market is the increasing adoption of human-centric lighting solutions. This trend revolves around the understanding that lighting not only impacts visual comfort but also has physiological and psychological effects on individuals. As a result, architectural lighting is being designed to mimic natural light patterns, adjusting intensity and color temperature throughout the day to support circadian rhythms and promote well-being. This shift towards human-centric lighting is driven by a growing awareness of its potential to enhance productivity, mood, and overall health, particularly in environments like offices, healthcare facilities, and educational institutions.

North America stands as the largest and most dominating in the global architectural lighting industry. This prominence can be attributed to several factors, including a robust economy, ongoing urbanization, and a strong emphasis on cutting-edge infrastructure. The region's well-established commercial and residential sectors drive substantial demand for architectural lighting solutions. Additionally, high awareness of energy efficiency and sustainable practices has driven the adoption of energy-saving lighting systems in North America.

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Global Architectural Lighting Market Size, Share, Growth Analysis, By Light Type(LED, and HID), By Application area(Indoor, outdoor), By End-user(Residential, and Commercial) - Industry Forecast 2024-2031

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