The global Sconce Decorative Lighting Market size is expected to reach USD 51.77 Billion in 2030 and register a revenue CAGR of 3.4% over the forecast period, according to a latest report by Reports and Data. Increasing need for enhancing ambiance and increasing need for reducing eyestrain is expected to drive market revenue growth during the forecast period. Rapid growth of construction industry will increase application of decorative lighting for appealing aesthetics, which is also expected to boost revenue growth of the market going ahead. Increasing disposable incomes and rising interest in improving ambiance in the building are expected to boost the demand for decorative lighting. In addition, architects are increasingly installing decorative lighting such as chandeliers, pendants, and sconces in their construction to improve aesthetics, which is expected to drive the market revenue growth during the forecast period. Furthermore, decorative lighting is widely installed in commercial and residential spaces due to benefits such as energy efficiency, design flexibility, low voltage operation, and others, which is also expected to boost the demand for decorative lighting. Moreover, increasing investments by private manufacturers in R&D to create smart decorative lighting to reduce human efforts are expected to drive the market revenue growth during the forecast period.
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Top Profiled Companies in the Global Sconce Decorative Lighting Market Report:
Home Depot, Inc., Signify N.V., Hubbell, Inc., Acuity Brands, Inc., Osram Licht AG, Fagerhult BV, SAVANT TECHNOLOGIES LLC, Amerlux LLC, Maxim Lighting International, Inc., Bridgelux, Inc., Intense Lighting LLC, and Generation Brands LLC.
Some Key Highlights in the Report
- The ceiling segment is expected to register a significantly high revenue growth rate over the forecast period due to its increasing need for providing more efficiency and productivity at a low cost
- The LED segment is expected to account for a substantial market share in the global market over the forecast period due to increasing need for energy efficiency and durability
- The medium-range segment is expected to expand at a significantly rapid CAGR during the forecast period due to increasing application in the residential sector
- The Sconce Decorative Lighting Market in North America is expected to account for largest revenue share over the forecast period due to increasing presence of malls and hotels in countries such as the U.S. and Canada
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Chandelier
- Pendants
- Sconce
- Ceiling
- Wall Mount
- Others
Light Source Outlook (Revenue, USD Billion; 2019-2030)
- Light-Emitting Diode (LED)
- Fluorescent
- Incandescent
- Others
Price Range Outlook (Revenue, USD Billion; 2019-2030)
- High-Range
- Medium-Range
- Low-Range
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Hypermarkets
- Specialty Stores
- Online
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Residential
- Commercial
Key Takeaways of the Global Sconce Decorative Lighting Market Report:
- A comprehensive overview of the global Decorative Lighting industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Sconce Decorative Lighting Market.
- Elaborate study of the leading regional markets in the global Sconce Decorative Lighting Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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