The North America Interior Lighting Market would witness market growth of 4.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America Interior Lighting Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $24,395.2 million by 2031. The Canada market is experiencing a CAGR of 6.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6% during (2024 - 2031).
Hotels are important in promoting the use of decorative lighting items like chandeliers. The market is expected to benefit from corporations and other organizations choosing hotels to host yearly events. To accommodate business travelers, hotels are continually upgrading their facilities and services. Chandelier lighting gives the rooms a touch of elegance and a contemporary feel, enhancing their aesthetic appeal.
Moreover, supernova, enormous bubble lighting, large spherical chandeliers, and oversized crystal chandeliers are a few variations that have become quite popular in hotel interior design and decorating. Luxury home development is predicted to increase due to urbanization and shifting consumer lifestyles, which will drive market growth.
A recent report highlights the substantial impact of LED adoption on energy savings and cost reduction. In 2018, the use of LED lighting contributed to annual energy savings of approximately 1.3 quadrillion Btu (quads) in the U.S., translating to consumer cost savings of $14.7 billion. This amounted to roughly 5% of the total electricity consumption from buildings in that year. Between 2016 and 2018, the number of LED product installations across various applications doubled to 2.32 billion units, representing 30% of all general illumination lighting, underscoring the rapid growth of LED adoption in the interior lighting sector.
Free Valuable Insights: The Interior Lighting Market is Predict to reach USD 122.59 Billion by 2031, at a CAGR of 5.3%
Based on Lighting Effect, the market is segmented into Downlighting, Perimeter Lighting, Wall Grazing & Wall Lighting, Uplighting, and Spotlighting & Others. Based on Product, the market is segmented into Ceiling Lights, Chandeliers, Pendant Lights, Recessed & Surface-Mounted Lights, Wall Lights, Decorative Lamps, Clamp Lights, Track Lights, Spots & Spotlights, and Others. Based on Type, the market is segmented into Ambient Lighting, Accent Lighting, Task Lighting, General Lighting, and Mood Lighting. Based on End Use, the market is segmented into Commercial, Residential, and Industrial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Lighting Effect
By Product
By Type
By End Use
By Country
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