Residential Lighting Fixture Market Growth & Forecast [2030]

Segments - Residential Lighting Fixture Market by Types (Incandescent, Fluorescent, LEDs & OLEDs), Applications (Ceiling, Pendant & Chandeliers, Wall Mounted, Portable, and Others) Distribution Channels (Online and Offline), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Debadatta Patel

Fact-checked by : PARTHA PAUL

Editor : Shruti Bhat

Report Description

The global residential lighting fixture market is anticipated to grow at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increasing demand for energy-efficient products.

Residential Lighting Fixture Market Key Takeaways

Lighting fixture is has been witnessing huge demand among smart homes. In recent years, consumers are spending more on the home decorative light product. The demand for dimmable or brightness controllable lights has witnessed a significant rise, as they can create the desired atmosphere using the lights.

Huge opportunities are available for vendors in the residential lighting fixture market, in the form of smart lighting fixtures and government projects, which is expected to aid them to increase their global footprint. Major companies in the market are integrating latest technologies in their products upgrading to improve the quality of the product and customer experience.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing demand for energy-efficient products and replacement of economical lighting fixtures with conventional lights are driving the market growth.
Rising penetration of the Internet of things (IoT) is raising product visibility among millennial consumers, which is fostering the growth of the market.
The COVID-19 had disrupted the manufacturing industry. This, in turn, had negatively impacted the supply chain, which had impeded the market growth. However, the market is expected to recover soon.
Increasing investment in the electronics industry and rapid urbanization by the state government bodies are expected to promote the utility of residential lighting fixtures across the globe.
Growing popularity of lighting fixtures can create high revenue opportunities for players in the projected timeline.

Scope of the Report

The report on the residential lighting fixtures market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Residential Lighting Fixture Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Types (Incandescent, Fluorescent, and LEDs & OLEDs) Applications (Ceiling, Pendant & Chandeliers, Wall Mounted, Portable, and Others), Distribution channels (Online and Offline)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Koninklijke Philips N.V., Cree Inc., General Electric, Hubbell Lighting, Inc., Acuity Brands, Inc., Eaton Corporation, Panasonic Corporation, OSRAM Licht AG, Nichia Corporation, and Everlight Electronics Co., Ltd.

Residential Lighting Fixtures Market Segment Insights:

LED & OLED segment to account for a large market share

On the basis of product types, the market is classified into incandescent, fluorescent, and LEDs & OLEDs. The LEDs and OLEDs segment held a large share of the market in 2020, in terms of revenue. The products in this segment consumes 90% less energy than traditional bulbs. Moreover, reducing cost of the same owing to technological advancements is propelling the growth of the market segment.

Residential Lighting Fixture Market By Types

Pendant & chandeliers segments to grow at a rapid rate

Based on applications, the market is segmented into the ceiling, pendant & chandeliers, wall mounted, portable, and others. The ceiling and wall mounted segments dominated the market with the total market share of around 60% in terms of revenue. However, the pendant and chandeliers segments are anticipated to expand at a rapid pace during the forecast period. This is due to the increasing purchasing power of consumers.

Online Segment to exhibit a high CAGR

In terms of distribution channels, the residential lighting fixtures market is segregated into the online and offline. The offline segment dominated the market with more than 80% of market share in 2020. On the other hand, the online segment is anticipated to exhibit a high CAGR owing to increasing penetration of smartphones and Internet across the globe.

Asia Pacific is anticipated to account for a large market share

On the basis of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominated the market with a share of more than 45% in 2020. This is attributed to increasing population and rising disposable income. Conversely, the market in Middle East and is anticipated expand at a CAGR of 8% during the forecast period.

Segments

The global residential lighting fixtures market has been segmented on the basis of

Types

Incandescent
Fluorescent
LEDs & OLEDs

Applications

Ceiling
Pendant & Chandeliers
Wall Mounted
Portable
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Koninklijke Philips N.V.
Cree Inc.
General Electric
Hubbell Lighting Inc.
Acuity Brands.
Inc. Eaton Corporation.
Panasonic Corporation.
OSRAM Licht.
AG Nichia Corporation.
Everlight Electronics Co. Ltd.

Competitive Landscape

Major players of the market are Koninklijke Philips N.V., Cree Inc., General Electric, Hubbell Lighting, Inc., Acuity Brands, Inc., Eaton Corporation, Panasonic Corporation, OSRAM Licht AG, Nichia Corporation, and Everlight Electronics Co., Ltd.

Companies are engaging in partnerships, collaborations, and expanding their product offerings to expand their market share.

Residential Lighting Fixture Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Residential Lighting Fixture Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Residential Lighting Fixture Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Residential Lighting Fixture Market - Supply Chain
  4.5. Global Residential Lighting Fixture Market Forecast
     4.5.1. Residential Lighting Fixture Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Residential Lighting Fixture Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Residential Lighting Fixture Market Absolute $ Opportunity
5. Global Residential Lighting Fixture Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Residential Lighting Fixture Market Size and Volume Forecast by Types
     5.3.1. Incandescent
     5.3.2. Fluorescent
     5.3.3. LEDs & OLEDs
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Residential Lighting Fixture Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Residential Lighting Fixture Market Size and Volume Forecast by Applications
     6.3.1. Ceiling
     6.3.2. Pendant & Chandeliers
     6.3.3. Wall Mounted
     6.3.4. Portable
     6.3.5. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Residential Lighting Fixture Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Residential Lighting Fixture Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Residential Lighting Fixture Demand Share Forecast, 2019-2026
8. North America Residential Lighting Fixture Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Residential Lighting Fixture Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Residential Lighting Fixture Market Size and Volume Forecast by Types
     8.4.1. Incandescent
     8.4.2. Fluorescent
     8.4.3. LEDs & OLEDs
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Residential Lighting Fixture Market Size and Volume Forecast by Applications
     8.7.1. Ceiling
     8.7.2. Pendant & Chandeliers
     8.7.3. Wall Mounted
     8.7.4. Portable
     8.7.5. Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Residential Lighting Fixture Demand Share Forecast, 2019-2026
9. Latin America Residential Lighting Fixture Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Residential Lighting Fixture Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Residential Lighting Fixture Market Size and Volume Forecast by Types
     9.4.1. Incandescent
     9.4.2. Fluorescent
     9.4.3. LEDs & OLEDs
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Residential Lighting Fixture Market Size and Volume Forecast by Applications
     9.7.1. Ceiling
     9.7.2. Pendant & Chandeliers
     9.7.3. Wall Mounted
     9.7.4. Portable
     9.7.5. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Residential Lighting Fixture Demand Share Forecast, 2019-2026
10. Europe Residential Lighting Fixture Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Residential Lighting Fixture Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Residential Lighting Fixture Market Size and Volume Forecast by Types
     10.4.1. Incandescent
     10.4.2. Fluorescent
     10.4.3. LEDs & OLEDs
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Residential Lighting Fixture Market Size and Volume Forecast by Applications
     10.7.1. Ceiling
     10.7.2. Pendant & Chandeliers
     10.7.3. Wall Mounted
     10.7.4. Portable
     10.7.5. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Residential Lighting Fixture Demand Share Forecast, 2019-2026
11. Asia Pacific Residential Lighting Fixture Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Residential Lighting Fixture Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Residential Lighting Fixture Market Size and Volume Forecast by Types
     11.4.1. Incandescent
     11.4.2. Fluorescent
     11.4.3. LEDs & OLEDs
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Residential Lighting Fixture Market Size and Volume Forecast by Applications
     11.7.1. Ceiling
     11.7.2. Pendant & Chandeliers
     11.7.3. Wall Mounted
     11.7.4. Portable
     11.7.5. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Residential Lighting Fixture Demand Share Forecast, 2019-2026
12. Middle East & Africa Residential Lighting Fixture Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Residential Lighting Fixture Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Residential Lighting Fixture Market Size and Volume Forecast by Types
     12.4.1. Incandescent
     12.4.2. Fluorescent
     12.4.3. LEDs & OLEDs
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Residential Lighting Fixture Market Size and Volume Forecast by Applications
     12.7.1. Ceiling
     12.7.2. Pendant & Chandeliers
     12.7.3. Wall Mounted
     12.7.4. Portable
     12.7.5. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Residential Lighting Fixture Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Residential Lighting Fixture Market: Market Share Analysis
  13.2. Residential Lighting Fixture Distributors and Customers
  13.3. Residential Lighting Fixture Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Koninklijke Philips N.V.
     13.4.2. Cree Inc.
     13.4.3. General Electric
     13.4.4. Hubbell Lighting Inc.
     13.4.5. Acuity Brands.
     13.4.6. Inc. Eaton Corporation.
     13.4.7. Panasonic Corporation.
     13.4.8. OSRAM Licht.
     13.4.9. AG Nichia Corporation.
     13.4.10. Everlight Electronics Co. Ltd.