Wilmington, Delaware, Oct. 17, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis the Global Pendant Lamps Market value is US$ 2,031.3 million in 2023 and is expected to rise at a strong CAGR of over 11.6% over the forecast period of 2023-2030
Market Definition, Market Scope, and Report Overview
Pendant lamps, also known as hanging or suspender lamps, are light fixtures that hang from the ceiling with the help of a cord, chain, or metal rod. They are intended to dangle from the ceiling and offer focused lighting over a specified area, such as a dining table, kitchen island, or work surface. Pendant lamps are available in a wide range of forms, shapes, and materials, allowing them to suit a wide range of interior designs and aesthetics.
Pendant lamps are frequently used in the hospitality industry, restaurants, cafes, and retail establishments to create attractive atmospheres and improve the overall client experience. The need for pendant lighting in business environments considerably contributes to market growth.
- According to a deep-dive market assessment by RationalStat, the global Pendant Lamps market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Pendant Lamps market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Pendant Lamps market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Pendant Lamps Market: Segmental and Market Share Analysis
- Based on type, glass segment is dominating the market with market share of over 50%. Glass pendant lamps are popular in both residential and business settings because of their elegance and sophistication.
- Based on application, residential segment is the largest segment of the global pendant lamps market. The growth of the residential segment is being driven by the increasing demand for home décor and the growing popularity of minimalism.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2,031.3 million |
| Market Size Forecast | US$ 4,387.6 million |
| Growth Rate | 11.6% |
| Dominant Segment | Glass Segment |
| Dominant Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players, prominent brands, and pendant lamp developers adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global pendant lamps market include,
- In October 2022, The NYMANE LED pendant lamp has been included to Ikea's smart lighting collection. The device's design is based on the 1960s KLANG light.
Some of the prominent players and suppliers operating and contributing significantly to the global pendant lamps market growth include Pinch Design, Calligaris, DelightFULL, Bert Frank, Art et Floritude, IQ Light, David Hunt Lighting, Le Deun, and PSLAB, among others.
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RationalStat has segmented the global pendant lamps market based on type, application and region
- Global Pendant Lamps Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Metal Lamp
- Glass Lamp
- Plastic Lamp
- Fabric Lamp
- Wooden Lamp
- Others
- Global Pendant Lamps Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Home
- Commercial
- Residential
- Global Pendant Lamps Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Pendant Lamps Market
- US
- Canada
- Latin America Pendant Lamps Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Pendant Lamps Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Pendant Lamps Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Pendant Lamps Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Pendant Lamps Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Pendant Lamps Market
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Key Questions Answered in the Pendant Lamps Report:
- What will be the market value of the global Pendant Lamps market by 2030?
- What is the market size of the global Pendant Lamps market?
- What are the market drivers of the global Pendant Lamps market?
- What are the key trends in the global Pendant Lamps market?
- Which is the leading region in the global Pendant Lamps market?
- What are the major companies operating in the global Pendant Lamps market?
- What are the market shares by key segments in the global Pendant Lamps market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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