According
to a new market report published by Transparency Market Research
“Lighting Fixtures Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2021” the lighting fixtures
market was valued at US$136.30 bn in 2014; and is expected to reach
US$215.29 bn in 2021, at a CAGR of 6.9% from 2015 to 2021.
Lighting
market transition from traditional lighting technology such as
incandescent and fluorescent lamps to more energy efficient lighting
technology such as LED and OLED lamps is primarily driving the growth
of lighting fixtures market. Growth in construction industry
globally, is leading to increasing infrastructure development
primarily in semi-urban and rural areas. Due to this factor,
installation of lighting fixtures in residential, commercial and
public buildings is expected to surge during the forecast period,
driving the lighting fixtures market growth.
Browse
the full Lighting Fixtures Market Report at
http://www.transparencymarketresearch.com/lighting-fixture-market.html
lighting-fixture-market
However,
high initial investment for installation of new lighting fixtures and
retrofitting traditional lighting fixtures is posing as a major
restraint to the growth of the global lighting fixtures market.
Moreover, complex buying decision process of lighting fixtures is
inhibiting lighting fixtures market growth.
Key
opportunity of the global lighting fixtures market lies in
retrofitting the traditional lighting fixtures with advanced lighting
fixtures. Optimal functioning of new lighting technology such as LED
and OLED lighting technology are dependent on the advanced design of
the lighting fixture. Demands for these advanced lighting
technologies are creating new opportunities for existing and new
players in the lighting fixtures market.
Geographically,
Asia Pacific led the lighting fixtures market in 2015 and the region
is expected to continue its dominance till 2021. The growth in this
region is attributed to the increasing urbanization and surge in
investment in construction industry. However, due to rising
government regulations and policies aimed at encouraging
implementation of energy efficient lighting over traditional lighting
such as incandescent and fluorescent lighting, Europe have the
highest growth potential during the forecast period.
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A Sample Of This Report :
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6281
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