The report covers the drivers and restraints of the Architectural Lighting market along with their impact on the demand during the forecast period 2022 to 2028

NEWARK, UNITED STATES, October 10, 2022 /EINPresswire.com/ -- As per the report published by Fior Markets, the global architectural lighting market is expected to grow from USD 8.15 million in 2020 and to reach USD 12.99 million by 2028, growing at a CAGR of 6% during the forecast period 2021-2028.

The architectural lighting market is witnessing significant growth from the past years. Architectural lighting helps in highlighting each corner & space of a large room by accentuating the aesthetics of interior as well as exterior of the building. Architectural lighting mainly focuses on three important aspects namely, aesthetics, functionality and energy efficiency. Aesthetics majorly focuses on increasing the emotional aspects of a space by providing balance between architecture and lighting. This will mostly be associated with interior lighting and retail locations to attract large number of individuals. Functionality is the aspect that includes illumination of space to perform various tasks such as reading, writing etc. Energy efficiency is the other aspect that concentrates on providing maximum impact of lighting with minimum consumption of energy. Technology enabled and cost effective fixtures and lamps becomes an attraction in restaurants & hotels, offices and luxurious houses. The LED’s have resulted in the improvement of designing flexibility of architectural lighting fixtures along with its application from the illumination light source to display light.

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The global architectural lighting market is expected to witness significant growth, owing to the cost savings, adjustable illumination power, growing urban space, surging requirement or energy efficient lighting devices, reliability, increasing advancements in lighting technology and rising number of reconstruction and refurbishment activities relating to various historic and public infrastructures as well. The surging demand for communicative and medialized lighting on tall buildings or sky scrapers, rising demand for aesthetic lights, longer life span, increasing utilization of LED bulbs in lamps & fixtures for both residential & commercial buildings, necessity to illuminate rooms, walls, corridors, stairs, walkways, parking lots, gardens and other areas of building contributes to propel the growth of market.

The factors restraining the market growth are the cost of customization which increases the overall lighting cost of the project, out-break of Covid which led to the implementation of lockdown across various nations which resulted in temporary shutdown of many construction activities. Developing the architectural lighting solutions that are optimized to the customized specifications and stringent safety is the other factor that restrains the market growth. The higher return on investments as a result of reduced LED lighting prices will provide market growth opportunities.

Key players operating in global architectural lighting market include General Electric Company, Acuity Brands Lighting Inc., Philips Lighting Holding B.V., W.W. Grainger Inc., OSRAM Licht AG, OSRAM GmbH, Siteco GmbH, Cree Inc., Cree Lighting, Feilo Sylvania, IDEAL INDUSTRIES INC., TCP International Holdings Ltd., Hubbell Delta Light, SeaGull Lighting, Orion Energy Systems Inc., GE Current, Technical Consumer Products Inc., A Daintree Company, Signify Holdings, GVA Lighting, Zumtobel Group AG, Samsung Electronics, Seoul Semiconductor Co. Ltd., Griven S.r.l., GE Lighting LLC, Verbatim Ltd., Toshiba Lighting & Technology Corporation, Cooper Industries PLC, Epistar Corporation, Galaxia.

Light Emitting Diode (LED) segment dominated the market and held the largest market share of 73.89% in the year 2020
On the basis of light type, the global architectural lighting market is segmented into Light Emitting Diode (LED), High Intensity Discharge (HID) and Fluorescent Lights. Light Emitting Diode (LED) segment dominated the market and held the largest market share of 73.89% in the year 2020. This growth is attributed to the cost effectiveness, energy efficiency, availability of appealing LED lighting fixtures and intricately designed fixtures, longer service life and their flexibility. They are often featured with low carbon footprints that reduce the adverse effect on the environment.

Indoor segment dominated the market and held the largest market share of 64.15% in the year 2020
On the basis of application, the global architectural lighting market is segmented into indoor and outdoor segments. Indoor segment dominated the market and held the largest market share of 64.15% in the year 2020. The indoor application helps in illuminating hall ways & large rooms, horizontal & vertical walls, room curves, and stairs. This growth is attributed to the usage of more number of lights in interior space of buildings. The indoor spaces need various types of lighting such as chandeliers, façade lighting, wall wash light, uplight, pendants, retrofits to improve ambiance that contributes to propel the growth of indoor segment.

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Commercial segment dominated the market and held the largest market share of 71.56% in the year 2020
On the basis of end-use, the global architectural lighting market is segmented into Residential, Commercial and Industrial. Commercial segment dominated the market and held the largest market share of 71.56% in the year 2020. This growth is attributed to the low consumption of energy and surging usage of lighting for enhanced interior & exterior architectural beauty of commercial buildings such as spa & resorts, hotels & restaurants, museums, IT parks, airports and many more commercial buildings.

Regional Segment of Architectural Lighting Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global architectural lighting market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region held the largest market share of 31.6% in the year 2020. This growth is due to the rising disposal income, accessibility of financially evaluated building lights, improved standard of living and availability of economically priced (affordable) architectural lights. The construction of multitudinous commercial buildings in many countries such as India, Indonesia, China, Japan, Vietnam and many other regions that contribute to the market growth in this region. Next to Asia-Pacific, Europe holds the fastest growth rate owing to existence of many well-known organizations that contributes improved designs for architectural illumination and increasing adoption of energy efficient lighting systems that are coupled with advanced control systems.

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About the report:
The global architectural lighting market is analysed on the basis of value (USD million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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