Architectural Lighting Market To Hit Value .2 Billion By 2027

Posted by Mrudula Anil Karmarkar on April 4th, 2022

The global architectural lighting market size is expected to reach USD 12.2 billion by 2027, expanding at a CAGR of 6.1% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth owing to rising demand for aesthetic lights for decorating homes and commercial spaces such as offices, malls, shops, restaurants, and hotels. Furthermore, the transition of lighting bulbs from fluorescent to LEDs provides flexibility to a lighting designer in creating a variety of lighting fixtures for commercial and residential building. This, in turn, is accelerating the adoption of architectural lights among interior designers. The architectural lights also help to highlight each corner and space of a large room, such as museum, movie theater, restaurant, and office by accentuating the aesthetics of interior and exterior of the building. This, in turn, is driving the market over the forecast period.

The rapidly growing construction of the commercial building and residential building owing to urbanization and globalization across developing countries such as Brazil, India, China, and South Africa, is one of the major contributing factors boosting the demand for architectural lighting. Growing investment in construction projects at smart cities and Special Economic Zone (SEZ), Free Trade Zone (FTZ), and Export Processing Zone (EPZ) are further expected to increase demand for outdoor as well as an indoor lights. Moreover, smart city projects are providing an impetus to the growing demand for technology-enabled architectural lighting solutions, thereby driving the growth of the market.

The lighting industry has evolved, which has shaped the customer perception of using light for decorative purposes. Moreover, a well-lit environment contributes significantly towards improving the safety and security of the environment. The introduction of LEDs further strengthened the designing technique of lighting fixtures and lamps, helping interior designers to provide an array of lighting solutions for commercial and residential spaces. In addition, the introduction of OLED lights has further augmented the market potential owing to benefits such as a lesser number of components as compared to LED fixtures, lightweight, and thin structure. However, the high cost of OLED lights coupled with issues regarding efficacy and life expectancy at higher luminance levels is anticipated to hamper the market.

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The growing need to ensure a well-lit space, with appealing lighting for enhancing the interior artifacts and corners, is expected to drive the market. The consumer demands have inclined towards architectural lighting with attributes such as cost-saving, affordability, reliability, adjustable illumination power, and longer lifespan. Moreover, the necessity to illuminate rooms, stairs, walls, gardens, parking lot, walkways, corridors, and other areas of the building is boosting the adoption of architectural lighting across the commercial and residential sectors.

Architectural Lighting Market Report Highlights

• The LED light type segment dominated the market and accounted for a revenue share of over 76.0% in 2020. The higher demand for LED architectural lighting is due to its cost-saving potential, energy efficiency, long service life, and availability of intricately designed fixtures
• The residential segment is anticipated to witness the highest CAGR of 12.9% over the forecast period. The demand for smart lights and luminaires in residential buildings is increasing due to the rise in disposable income across the emerging economies
• Asia Pacific is expected to dominate the architectural lighting market during the forecast period owing to construction of large number of commercial buildings across countries such as India, China, Japan, and Australia along with emerging real estate market in Philippines, Indonesia, Malaysia, Thailand, and Vietnam
• Some of the major players present in the market are Acuity Brands Lighting Inc.; IDEAL INDUSTRIES INC.; Hubbell, Delta Light, GE Current, a Daintree company; Technical Consumer Products, Inc.; Siteco GmbH, Signify Holdings, Zumtobel Group AG, and GVA Lighting. These key players are anticipated to dominate the market owing to their capability to provide technology integrated lights offering unique designs.

The prominent vendors competing in the market include Acuity Brands Lighting Inc.; IDEAL INDUSTRIES INC.; Hubbell, Delta Light, GE Current, a Daintree company; Technical Consumer Products, Inc.; Siteco GmbH, Signify Holdings, Zumtobel Group AG, and GVA Lighting. The companies are offering affordable and unique design fixtures for indoor and outdoor applications catering to the demand for architectural lighting across the commercial and residential sectors. Moreover, the vendors have opted for a mix of inorganic and organic growth strategies to strengthen their market position. For instance, in February 2020, K-LITE Industries launched new series of LED architectural lighting, including billboard lighting, sleek polar lighting, facade lighting, in-ground luminaire, up-down lighting, area lighting poles vertical light bars, uplight, wall washers, and pathway lighting solutions.

Grand View Research has segmented the global architectural lighting market on the basis of light type, application area, end user.

Architectural Lighting Type Outlook (Revenue, USD Million, 2016 - 2027)

• Light-Emitting Diode (LED)
• High-Intensity Discharge (HID)
• Others

Architectural Lighting Application Area Outlook (Revenue, USD Million, 2016 - 2027)

• Indoor
• Outdoor

Architectural Lighting End-user Outlook (Revenue, USD Million, 2016 - 2027)

• Residential
• Commercial