Chandelier Market To Hit Value .5 Billion By 2025 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on April 1st, 2022 The global chandelier market size is expected to reach USD 8.5 billion by 2025, at a CAGR of 3.4%, according to a new report by Grand View Research, Inc. Increasing use of chandeliers as decorative lighting product in commercial spaces is expected to impel market growth. Growing awareness regarding interior decoration coupled with increasing investments in home décor, especially by affluent millennials is anticipated to propel the growth. Social networking sites 1] play a vital role in promoting the use of chandeliers to enhance residential as well as commercial decor, which in turn is expected to fuel the product demand. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. Over the past few years, the raw material preference is shifting from crystal to other materials such as metal, glass, wood, plastic, and concrete. Rising popularity of products made using a combination of materials, such as metal and wood or metal and glass is expected to create growth opportunities for manufacturers. In addition, rising popularity of black and other dark colored chandeliers for restrained and bright interiors is expected to drive the market growth. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/chandelier-market/request/rs1 Transitional chandeliers held the dominant market share of over 35% in terms of revenue in 2018. Transitional variants are a combination of both traditional as well as modern kinds. The product has gained popularity among consumers owing to innovative designs that beautifully blend with any type of interior. Iron, nickel, bronze, brass, steel, and copper are the commonly used raw materials for these products. Chandelier Market Report Highlights
Growth of tourism and hospitality industry owing to rising disposable income, especially among millennials is expected to impel market growth. Hotels play a key role in promoting the utility of decorative lighting products including chandeliers. Increasing preference of the corporates and other organizations for hotels to organize annual events is expected to positively influence the market. Hotels are constantly improving their infrastructure and services to cater to corporate customers. Lighting from chandeliers adds a touch of luxury and modern look to the rooms and enhances aesthetic appeal of the interiors. Some of the variants such as a giant rounded chandelier, huge bubble lighting, supernova, and oversized crystal chandelier have gained significant popularity in interior design and decoration of hotels. The companies are adopting business strategies such as mergers and acquisitions to expand their product portfolio and to gain competitive edge. For instance, in January 2019, Hubbell Incorporated launched a new collection of pendants, chandeliers, and sconces under the brand Progress Lighting, designed by American designer Jeffrey Alan Marks. This collection includes an eight-light chandelier with elegantly outstretched arms subtly balance form and weight, influenced by both industrial and artisanal style. Some of the prominent players in the chandelier market include:
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