The US market dominated the North America Interior Lighting Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $24.39 billion by 2031. The Canada market is experiencing a CAGR of 6.9% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 6% during 2024-2031.
Hotels are important in promoting the use of decorative lighting items like chandeliers. The market is expected to benefit from corporations and other organizations choosing hotels to host yearly events. To accommodate business travelers, hotels are continually upgrading their facilities and services. Chandelier lighting gives the rooms a touch of elegance and a contemporary feel, enhancing their aesthetic appeal.
Moreover, supernova, enormous bubble lighting, large spherical chandeliers, and oversized crystal chandeliers are a few variations that have become quite popular in hotel interior design and decorating. Luxury home development is predicted to increase due to urbanization and shifting consumer lifestyles, which will drive market growth.
A recent report highlights the substantial impact of LED adoption on energy savings and cost reduction. In 2018, the use of LED lighting contributed to annual energy savings of approximately 1.3 quadrillion Btu (quads) in the U.S., translating to consumer cost savings of $14.7 billion. This amounted to roughly 5% of the total electricity consumption from buildings in that year. Between 2016 and 2018, the number of LED product installations across various applications doubled to 2.32 billion units, representing 30% of all general illumination lighting, underscoring the rapid growth of LED adoption in the interior lighting sector.
List of Key Companies Profiled
- Koninklijke Philips N.V.
- Lena Lighting S.A.
- Karice Lighting
- Jaquar Group
- WLS Lighting Systems, Inc
- Wipro Lighting (Wipro Enterprises Private Limited)
- Trilux Gmbh
- EST Lights
- ERCO GmbH
- Russell Lighting
Market Report Segmentation
By Lighting Effect- Downlighting
- Perimeter Lighting
- Wall Grazing & Wall Lighting
- Uplighting
- Spotlighting & Others
- Ceiling Lights
- Chandeliers
- Pendant Lights
- Recessed & Surface-Mounted Lights
- Wall Lights
- Decorative Lamps
- Clamp Lights
- Track Lights
- Spots & Spotlights
- Others
- Ambient Lighting
- Accent Lighting
- Task Lighting
- General Lighting
- Mood Lighting
- Commercial
- Residential
- Industrial
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Companies Mentioned
- Koninklijke Philips N.V.
- Lena Lighting S.A.
- Karice Lighting
- Jaquar Group
- WLS Lighting Systems, Inc
- Wipro Lighting (Wipro Enterprises Private Limited)
- Trilux Gmbh
- EST Lights
- ERCO GmbH
- Russell Lighting
Methodology
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