Published Date: 31-Jul-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Architectural Lighting Market size is expected to reach $15.4 billion by 2028, rising at a market growth of 10.2% CAGR during the forecast period.
The Outdoor segment is showcasing CAGR of 13.1% during (2022 - 2028). Due to security concerns throughout the structures, there has been an increase in demand for lighting up external walls of buildings, parking lots in IT parks, and residential gardens. An important aspect driving the outdoor lighting market is the fact that a well-lit environment around a building assures both safety and improves the exterior architecture of the building.
The Commercial segment acquired maximum revenue share in the Global Architectural Lighting Market by End-use in 2021 thereby, achieving a market value of $11 billion by 2028. The expansion of this market is being driven by an increase in the usage of lighting to enhance the architectural beauty of commercial buildings such as museums, airports, IT parks, resorts, spas and resorts, and restaurants. Additionally, the low cost and high energy efficiency of architectural LED lighting have increased its popularity in commercial structures.
The High-Intensity Discharge (HID) segment has shown the growth rate of 10.8% during (2022 - 2028). Mercury vapor, low and high-pressure sodium, metal halide, ceramic metal halide, and xenon short-arc lamps are among the different types of HID lights used in parking lots and auditoriums for improved illumination. Because of the increased UV and infrared light emissions as well as the shorter lifespan of HID lamps, demand has decreased. HID lights are also omnidirectional, therefore additional components are required to reflect or concentrate the bulb's light output.
The Asia Pacific market dominated the Global Architectural Lighting Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.5 billion by 2028. The Europe market is exhibiting a CAGR of 9.5% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 9.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Acuity Brands Lighting, Inc., Ideal Industries, Inc., Delta Light N.V., Current Lighting Solutions, LLC, Siteco GmbH, Signify N.V., Zumtobel Group AG, and Technical Consumer Products, Inc.
By Application Area
By End User
By Light Type
Unique Offerings from KBV Research