The global market for Lighting Fixtures and Luminaires is projected to exceed US$121.7 billion by 2025, driven by rapid penetration of LED lighting and the corresponding demand for technologically advanced lighting fixtures. The growth in the market will also be driven by innovations in materials, manufacturing and technology targeted at improving product functionality, energy efficiency and eco-friendliness. In this regard, fixtures made from 100% recycled paper and cement and discarded plastic bottle tops are attracting lucrative price premiums in the market. Smart lighting enabled by internet of things (IoT) is helping step up commercial opportunities for lighting fixtures and luminaries. As a result, the market is currently witnessing the surging popularity of smart luminaires integrated with built-in intelligence and intelligent lighting controls to enhance energy efficiency such as LED fixtures integrated with daylight harvesting sensors. Interior lighting fixtures is expected to witness healthy gains against the backdrop of improving home values and consumer focus on elegant fixtures with simple yet artistic geometric shapes and surreal designs. Few of the other noteworthy trends shaping growth include rise of smart cities and creation of opportunities in the public lighting market; focus on worker safety, productivity, visual comfort and energy savings and the resulting demand for innovative industrial luminaires; rise of connected lighting and the ensuing focus on the development of lighting fixtures and luminaries with daylight dimming and other software-enabled lighting controls; growing global aircraft fleet, increased MRO opportunities and demand for high-output lighting suitable for airplane hangars with high ceiling height; gold mine of opportunities for lighting solutions that provide the right balance of aesthetics and energy savings; and stringent energy efficiency norms and availability of government provided incentives such as subsidies for LEDs which help spur adoption of the otherwise expensive LED lamps and luminaires. Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 7% over the analysis period, led by factors such as growing economies, increased smart city investments, developing commercial, industrial and residential housing sectors and a parallel rise in demand for lighting solutions customized to meet each unique requirements.  

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Company and Industry News & Stories
  • Pfingsten Partners Snaps Up Industrial Lighting Products in a Move to Strengthen its Position as a Leading Manufacturer of Energy Efficient Lighting
  • Bain Capital and Carlyle Group to Jointly Acquire 100% Stake in Osram Licht
  • Osram to Divest Sylvania Lighting Solutions to WESCO International in a Move to Emerge as a Photonics Champion
  • Osram Snaps Up Ring Automotive in a Bid to Expand its Product Range in the Automotive Sector
  • Buddy Platform to Acquire LIFX in a Transaction Valued at US$51 million

Outlook in Key Market Segments
  • Through 2025, Non-Portable Lighting will remain the largest market, followed by Portable Lighting.
  • General Lighting and Automotive end-use sectors are projected to provide the largest revenue opportunities over the medium to long-term period.

Product Definition & Scope
  • A lighting fixture or a luminaire is a device/ electronic equipment that comprises a complete lighting unit (excluding lamps). The equipment is so designed and constructed that it collects, distributes, reflects, directs, or diffuses light from any electric source of light for general or localized illumination. The luminaire/fixture can be used to create artificial light with the help of an electrical light source or a lamp. The fixture or a luminaire is also a decoration piece used by designers and architects to enhance the aesthetic appeal of a building or a space. These luminaires and fixtures find use in almost all sectors including residential, commercial, industrial, and transportation, among others. Fixtures and Luminaires can be portable or non-portable/fixed.

Timeline for Analysis
  • Market Estimates and Forecasts for 2017-2025
  • Historic Review 2012-2016

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World

Market Segmentation & Classification
  • Product Segments:
    • Portable, Non-Portable, and Parts and Accessories
  • End-Use Sectors:
    • Automotive Lighting, and General Lighting (Residential, Office, Outdoor, Architectural, & Others).

Major Players
  • Acuity Brands Lighting, Inc.
  • Eaton Corporation plc
  • Osram GmbH
  • Signify N.V.
  • Hubbell Lighting, Inc.
  • Panasonic Corporation
  • Zumtobel Group AG
  • Cree, Inc.

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