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DUBLIN--(BUSINESS WIRE)--Oct 4, 2022--
The "Lighting Fixtures Market, by Product Type, by Application, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
A light fixture or light fitting is an electrical device containing an electric lamp that provides illumination. The primary components of a lighting fixture include a lamp socket, for holding purpose, and a fixture body. Lighting fixtures with an electrical lamp are termed as a luminaire.
Furthermore, lighting fixture is also comprised of electric ballast, reflectors, aperture, and an outer shell, which acts as a protective cover for the electric lamp. Over the years, lighting fixtures have evolved from conventional lighting technology and fluorescent lamps to energy-efficient lighting technology such as LED lamps.
The rapid adoption of advanced lightning solution such as LED is driving the global lightning fixtures market over the forecast period. LED devices provides certain benefits over the florescent lighting. For instance, LEDs have a longer lifespan, nearly about 100,000 hours, as compared to incandescent bulb with 1000 hours and CFL with 8000 to 10,000 hours lifespan.
LEDs can also reduce the labor cost and achieve lower maintenance work due to a longer operational life. Furthermore, LED lighting fixture is far more efficient than conventional incandescent bulbs. Due to these features provided by LED, it is expected to increase over the forecast period. The global LED market was valued US$ 11.8Mn in 2019 and expected to reach US$ 27.4 Mn by 2027.
Increasing construction activities across the globe is expected to grow across the globe in specially developing economies such as India, China, Brazil and many others. In these countries witnessed large development in public, commercial, residential, and utility sectors. Thus, increasing construction activity across the globe is expected to drive the global lighting fixtures market over the forecast period.
However, high initial investments, maintenance cost and lack of awareness among consumers are expected to restrain the global lighting fixtures market over the forecast period.
Key features of the study:
Market Segmentation
Global Light Fixtures Market, By Product Type:
Global Light Fixtures Market, By Application:
Global Light Fixtures Market, By Region:
Company Profiles
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KEYWORD:
INDUSTRY KEYWORD: RETAIL HOME GOODS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/04/2022 10:27 AM/DISC: 10/04/2022 10:27 AM
http://www.businesswire.com/news/home/20221004005848/en