New York, United States , Sept. 02, 2024 (GLOBE NEWSWIRE) -- The Global Architectural Lighting Market Size is to Grow from USD 7.2 Billion in 2023 to USD 13.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.8% during the projected period.
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Architectural lighting is the art and science of illuminating buildings and spaces to enhance their appearance, functionality, and overall atmosphere. Lighting fixtures are strategically placed and designed to highlight architectural features, create moods, and support the function of a space, whether residential, commercial, or public. Unlike standard lighting, which only illuminates, architectural lighting enhances the architecture by emphasizing textures, forms, and materials. Architectural lighting is essential for both indoor and outdoor environments. With growing awareness of environmental concerns and the need to reduce energy consumption, architectural lighting manufacturers are focusing on developing products that are more efficient, have a longer lifespan, and consume less power. Governments and regulatory bodies all over the world are enforcing stricter energy efficiency standards, incentivizing industries and consumers to use sustainable lighting solutions. This push for energy-efficient lighting not only aligns with environmental goals but also helps users reduce operational costs, making it a key driver in determining the market's future. However, navigating complex and ever-changing regulations on energy efficiency, safety, and environmental impact can increase costs, limit design options, and slow the adoption of advanced architectural lighting technologies.
Browse key industry insights spread across 198 pages with 112 Market data tables and figures & charts from the report on the "Global Architectural Lighting Market Size, Share, and COVID-19 Impact Analysis, By Source (Incandescent Lights, Fluorescent Lights, Light-Emitting Diode (LED), High-Intensity Discharge (HID), and Others), By Application (Indoor and Outdoor), By End-use (Commercial, Residential, Industrial, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The light-emitting diode (LED) segment dominates the market with the highest market share of the global architectural lighting market during the projected period.
Based on the source, the global architectural lighting market is divided into incandescent lights, fluorescent lights, light-emitting diode (LED), high-intensity discharge (HID), and others. Among these, the light-emitting diode (LED) segment dominates the market with the highest market share of the architectural lighting market during the projected period. The rapid evolution of LED technology has been a major driver of its use in architectural lighting. LEDs have become more efficient, reliable, and adaptable, with improved brightness, color accuracy, and durability. These advancements have made LEDs a viable replacement for traditional lighting sources such as incandescent and fluorescent bulbs. Furthermore, the cost of LED technology has decreased significantly over time as a result of economies of scale and technological advancements, making LEDs more accessible to a wider market.
The indoor segment is expected to grow at the fastest CAGR during the forecast period.
Based on the application, the global architectural lighting market is categorized into indoor and outdoor. Among these, the indoor segment is expected to grow at the fastest CAGR during the forecast period. With global population growth and current urbanization, the number of residential projects is steadily increasing. This trend presents significant growth opportunities for architectural lighting, particularly in indoor settings such as residential and commercial spaces, including office lighting. As more homes and buildings are constructed, there is an increasing demand for innovative and efficient lighting solutions that address both functional and aesthetic concerns.
The commercial segment is expected to grow at the fastest CAGR during the forecast period.
Based on the end-use, the global architectural lighting market is categorized into commercial, residential, industrial, and others. Among these, the commercial segment is expected to grow at the fastest CAGR during the forecast period. The continued expansion of commercial development, particularly in the hospitality industry, is increasing demand for outdoor landscape and architectural lighting. As the real estate industry expands, driven by ongoing infrastructure development, there is a greater demand for innovative and appealing outdoor lighting solutions. Hotels, resorts, and other commercial establishments are investing in sophisticated lighting designs to make their outdoor spaces more welcoming and visually appealing.
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Asia Pacific is expected to hold the largest share of the global architectural lighting market over the forecast period.
Asia Pacific is expected to hold the largest share of the global architectural lighting market over the forecast period. The Asia-Pacific market is primarily driven by rapid urbanization, economic growth, and infrastructure development. Additionally, the region's large population and growing middle class are increasing demand for architectural lighting in the residential, commercial, and industrial sectors, accelerating market growth. Aside from that, the region is a center for lighting manufacturing and technological innovation, making it a significant player in both architectural lighting production and consumption.
Europe is predicted to grow at the fastest pace in the global architectural lighting market during the projected period. North America's architectural lighting market is distinguished by advanced technology adoption and a strong emphasis on energy-efficient and intelligent lighting solutions. Furthermore, the presence of many major lighting manufacturers, a well-established infrastructure, and widespread consumer awareness of energy conservation and sustainable practices all help to drive market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global architectural lighting market are Acuity Brands, Inc., Environmental Lights, Siemens, Delta Light, GE Current, GVA Lighting, Hubbell, OSRAM GmbH, Panasonic Corporation, Signify Holding, Siteco GmbH, Technical Consumer Products, Inc., Zumtobel Group AG, Feilo Sylvania, TCP International Holdings Ltd., Seoul Semiconductor Co., Ltd., Others.
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Recent Developments
- In June 2023, Acuity Brand, Inc. announced a new DC2DC architecture that offers a distributed low-voltage DC power solution for LED lighting systems. It simplifies the conversion of AC to DC power at the luminaire, improving the efficiency and reliability of LED lighting systems while lowering maintenance and operating costs.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global architectural lighting market based on the below-mentioned segments:
Global Architectural Lighting Market, By Source
- Incandescent Lights
- Fluorescent Lights
- Light-Emitting Diode (LED)
- High-Intensity Discharge (HID)
- Others
Global Architectural Lighting Market, By Application
- Indoor
- Outdoor
Global Architectural Lighting Market, By End-use
- Commercial
- Residential
- Industrial
- Others
Global Architectural Lighting Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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