Austin, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Insights:
According to the S&S Insider, “The Architectural Lighting Market Size was valued at USD 9.39 Billion in 2023 and is expected to reach USD 18.65 Billion by 2032 and grow at a CAGR of 7.96% over the forecast period 2024-2032.”
Architectural Lighting Market Shines with Energy Efficiency and Smart Technology Integration
The architectural lighting market is expanding due to growing demand for energy-efficient solutions driven by global sustainability concerns and the need to reduce energy consumption. Advancement in smart and IoT-based lighting systems enhance efficiency, adaptability, and aesthetics, making them ideal for commercial and residential projects where lighting serves as both a functional and decorative element. Lighting’s role as a visual effect is increasingly valued, creating vibrant, contemporary spaces. Additionally, integrating lighting into Building Management Systems (BMS) enables complete control, improving functionality and energy savings. Government initiatives promoting green building standards further encourage businesses and homeowners to upgrade to modern lighting. By 2023, LEDs made up about 60% of the U.S. lighting market, indicating a significant shift from traditional lighting sources. LED adoption is estimated to save approximately 100 terawatt-hours annually, and by 2024, is expected to prevent 75 billion metric tons of greenhouse gas emissions.
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Leading Market Players with their Product Listed in this Report are:
- Philips Lighting (Hue Smart Bulbs, Color Kinetics)
- Osram (LEDVANCE, Siteco)
- GE Lighting (C by GE, Reveal LED Bulbs)
- Acuity Brands (Lithonia Lighting, Gotham Lighting)
- Cree Lighting (Cree Edge, Cadiant Light Engine)
- Legrand (Wattstopper, Adorne)
- Focal Point (LyteFrame, Seem 2)
- Zumtobel Group (Tecto, SLOTLIGHT)
- Ketra (Ketra Luminaires, Control System)
- Signify (Interact, Philips Dynalite)
- Lutron (Caséta Wireless, RA2 Select)
- Selux (LUMEN, Light Columns)
- Holophane (Prismatic Lens Fixtures, LED Area Lights)
- Sylvania (Ultra LED, LED Wall Pack)
- Nimbus (Nimbus UFO, Q-LED)
- Eaton (Cooper Lighting, Halo LED Downlights)
- Meyer Lighting (LED Flex, Meyer Rigid LED)
- Cannonball Lighting (Cannonball Series, Beacon Series)
- Barn Light Electric (Gooseneck Lights, Vintage Outdoor Fixtures)
- Edge Lighting (Edge LED, LumaLine)
Architectural Lighting Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 9.39 Billion |
| Market Size by 2032 | USD 18.65 Billion |
| CAGR | CAGR of 7.96% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Component (Lamp Holders, Ballasts, Lamps, Lenses/Shades, Trims, Wiring, Reflectors, Others), • by Source (Incandescent Lights, Fluorescent Lights, Light-emitting diode (LED), High-Intensity Discharge (HID), Others) • by Application (Indoor, Outdoor), by End Use (Commercial, Residential, Industrial, Others) |
| Key Drivers | • Energy Efficiency Fuels Architectural Lighting Growth Due to LED Technology and Government Incentives Drive Market Expansion • Smart Lighting Systems Revolutionize Architectural Lighting with IoT and Automation for Enhanced Control and Efficiency |
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Key Drivers of Growth in the Architectural Lighting Market: Components, Sources, Applications, and Regional Trends
By Component
The ballasts segment led the architectural lighting market in 2023, accounting for over 18% of market share. This dominance is due to the widespread use of LED and fluorescent lighting systems in architectural applications, where ballasts ensure a steady electricity supply for optimal operation of various lighting configurations. As energy-efficient, durable, and low-maintenance lighting options like LEDs gain popularity, the demand for high-performance, compatible ballasts is expected to continue growing.
The lamps segment is projected to expand over the forecast period, driven by rising demand for indoor and outdoor lighting solutions. Government initiatives to illuminate public spaces and enhance comfort are also boosting lamp demand, with companies employing diverse strategies to broaden their customer base and strengthen market presence.
By Source
In 2023, Light-Emitting Diode (LED) technology led the Architectural Lighting market, holding over 28% of the market share due to rapid advancements that have made LEDs more efficient, reliable, and adaptable. LEDs now offer enhanced brightness, color accuracy, and durability, serving as a superior alternative to traditional incandescent and fluorescent bulbs.
The High-Intensity Discharge (HID) segment is also expected to grow at a CAGR of 8.87%, with strong demand from applications that require high-intensity lighting to cover expansive areas, such as public spaces, retail malls, and sports arenas.
By Application
Indoor lighting dominated with over 76% of the market share in 2023. Rapid urbanization and population growth worldwide are driving the development of new residential and commercial buildings, which boosts demand for architectural lighting solutions in spaces like homes, offices, and retail environments.
Outdoor lighting is also set to grow at a CAGR of 8.83%, driven by a rising trend of creating extended living spaces outdoors. Driven by the growing trend of enhancing outdoor living spaces. It includes applications such as street lighting, landscape illumination, and facade lighting, with demand fuelled by urbanization, sustainability goals, and aesthetic enhancements. Technological advancements like energy-efficient LEDs and smart lighting systems are further propelling growth.
By End Use
The commercial segment led the Architectural Lighting market with a 57% share, driven by demand for energy-efficient lighting in offices, retail spaces, and public buildings, where aesthetics and functionality are key.
The residential segment is projected to grow at a 9.38% CAGR as homeowners increasingly prioritize comfort, energy savings, and smart lighting technologies, making residential architectural lighting a popular choice for enhancing living spaces.
Asia Pacific’s Dominance in the Architectural Lighting Market Amid Urbanization
Asia Pacific holds the largest market share of over 45% in the Architectural Lighting market, a position expected to remain through the forecast period. Rapid urbanization across the region, with billions moving from rural areas to cities for economic opportunities, is fueling this growth. The World Bank projects that by 2030, around 55% of the Asia-Pacific population will live in cities. As urbanization accelerates, the Architectural Lighting market is anticipated to grow at a CAGR of 8.39% from 2024 to 2032, driven by the need to enhance cityscapes and create visually appealing environments.
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Recent Development
- August 2024: Häfele expanded its lighting solutions with the introduction of the versatile Delft Series, designed for modern interiors.
- March 2024: WAC Lighting unveiled its KONSTRUKT modular lighting system at LEDucation 2024 in New York City. The system features customizable, field-cuttable channels and versatile lighting elements for high-end commercial applications, emphasizing scalability and performance.
- March 2024: The Light + Building event in Frankfurt, Germany, showcased a strong recovery in the industry, with over 2,000 exhibitors participating.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Architectural Lighting Customer Trends
5.2 Architectural Lighting Technological Trends
5.3 Architectural Lighting Energy Efficiency Metrics
6. Competitive Landscape
7. Architectural Lighting Market Segmentation, by Component
8. Architectural Lighting Market Segmentation, by Source
9. Architectural Lighting Market Segmentation, by Application
10. Architectural Lighting Market Segmentation, by End Use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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