In 2022, the UK decorative lighting market was valued at USD 38.6 billion. Forecasts indicate that the industry will grow, with a projected value of USD 40.0 billion in 2023 and USD 52.6 billion by 2032. Between 2023 and 2032, this growth is expected to have a compound annual growth rate (CAGR) of 3.50%.
The UK decorative lighting market is experiencing significant growth, driven by evolving consumer tastes and advancements in technology. Valued at approximately £2 billion in 2023, this market segment includes a wide array of products such as chandeliers, pendant lights, wall sconces, and floor lamps. The demand for decorative lighting is fueled by the increasing focus on interior aesthetics, with homeowners seeking to create visually appealing and functional spaces. Energy-efficient LED technology and smart lighting solutions are particularly popular, allowing for customizable lighting environments that enhance both ambiance and energy savings. Moreover, the trend towards sustainable and eco-friendly products is influencing the market, with many consumers opting for lighting fixtures made from recycled or sustainable materials. As the market continues to evolve, it is poised for further expansion, driven by innovation and the growing emphasis on personalized and stylish home décor.
Research Methodology
The report has its roots definitely set in thorough strategies provided by proficient data analysts. The research methodology involves the collection of information by analysts only to have them studied and filtered thoroughly in an attempt to provide significant predictions about the market over the review period. The research process further includes interviews with leading market influencers, which makes the primary research relevant and practical. The secondary method gives a direct peek into the demand and supply connection. The market methodologies adopted in the report offer precise data analysis and provide a tour of the entire market. Both primary and secondary approaches to data collection have been used. In addition to these, publicly available sources such as annual reports, and white papers have been used by data analysts for an insightful understanding of the market.
Key Companies in the Decorative Lighting market include.
AB Fagerhult
Acuity Brands Inc.
Amerlux LLC
Bridgelux Inc.
Crenshaw Lighting
Feit Electric Co. Inc.
GE CURRENT A DAINTREE COMPANY
Generation Lighting
Honeywell International Inc.
Hubbell Inc.
Hudson Valley Lighting Inc.
IDEAL INDUSTRIES Inc.
Lowes Co. Inc
Maxim Lighting International
OSRAM GmbH
Key takeaways from the Decorative Lighting market report:
- Detailed consideration of Decorative Lighting market-particular drivers, Trends, constraints, Restraints, Opportunities, and major micro markets.
- Comprehensive valuation of all prospects and threats in the
- In-depth study of industry strategies for growth of the Decorative Lighting market-leading players.
- Decorative Lighting market latest innovations and major procedures.
- Favourable dip inside Vigorous high-tech and market latest trends remarkable the Market.
- Conclusive study about the growth conspiracy of Decorative Lighting market for forthcoming years.
Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the Decorative Lighting growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyze the concerning individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.
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