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Asia-Pacific Decorative Lighting Market Outlook, 2029

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    Report

  • 95 Pages
  • February 2024
  • Region: Asia Pacific
  • Bonafide Research
  • ID: 5953076
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The Asia-Pacific region is a vibrant and dynamic market for decorative lighting, marked by fast urbanization, economic expansion, cultural diversity, and shifting consumer tastes. Asia-Pacific, with its growing population and middle class, represents a considerable opportunity for decorative lighting makers and merchants. Rapid urbanization is a key driver of the Asia-Pacific decorative lighting industry, particularly in growing economies like China, India, and Southeast Asian countries. As individuals move from rural to urban regions in quest of better prospects, there is an increase in demand for housing, commercial space, and infrastructural development.

This tendency increases the demand for interior and external lighting solutions to illuminate residential complexes, business buildings, shopping malls, hotels, and public spaces, driving market growth. Economic growth and increased disposable incomes also help to drive the decorative lighting market in Asia-Pacific. As the region's economies flourish and industries thrive, customers have greater purchasing power to invest in house enhancements and lifestyle modifications, such as ornamental lighting fixtures. Furthermore, the growing trend of urbanization and modernization is followed by shifting lifestyles and ambitions, with consumers looking to improve the aesthetic appeal of their living spaces through attractive and innovative lighting solutions. Cultural diversity and legacy have a profound impact on the decorative lighting market in Asia-Pacific. Every country in the region has its own cultural traditions, design aesthetics, and architectural styles, which impact customer choices for lighting fixtures. For instance, in nations like Japan and South Korea, minimalist and futuristic designs are favored, while in India and Southeast Asia, intricate patterns and vibrant colors inspired by local traditions are prevalent. Manufacturers and retailers must understand and cater to these cultural nuances to effectively penetrate and succeed in the Asia-Pacific decorative lighting market.

According to the research report "Asia-Pacific Decorative Lighting Market Outlook, 2029,", the Asia-Pacific Decorative Lighting market is expected to grow with more than 7.50% CAGR from 2024 to 2029. Technological breakthroughs and innovation are driving the use of smart lighting solutions in Asia-Pacific, providing consumers with increased convenience, energy efficiency, and customization possibilities. Smart lighting systems with IoT connectivity, voice control, and smartphone apps enable users to remotely alter lighting settings, create personalized lighting scenarios, and track energy consumption.

As urban populations grow and cities become smarter, demand for smart lighting solutions is likely to rise, driving regional market growth. Sustainability and eco-friendliness are becoming increasingly important in the Asia-Pacific decorative lighting market. Consumers are becoming more concerned with energy efficiency, environmental impact, and product sustainability, pushing demand for LED lighting solutions and eco-friendly materials. Governments throughout Asia Pacific are launching programs to encourage energy efficiency and sustainability in the lighting business. Policymakers are supporting the adoption of energy-efficient lighting solutions such as LEDs via incentives, legislation, and awareness campaigns, hence driving industry growth and innovation. Emerging countries in the Asia-Pacific, such as Vietnam, Indonesia, and the Philippines, offer substantial prospects for decorative lighting makers and merchants. These markets are rapidly urbanizing, with rising disposable incomes and increasing consumer sophistication, making them appealing investment and expansion destinations for the decorative lighting industry.

Major Drivers

Cultural diversity and design aesthetics: The Asia-Pacific region is extremely diverse, with each country having its own distinct cultural history, traditions, and design sensibilities. This diversity influences customer choices for decorative lighting, which vary by country and location. For example, in Japan and South Korea, minimalist and modern designs are popular, showing the impact of current design trends. In contrast, countries such as India and Southeast Asia favor more traditional and elaborate forms, which are distinguished by intricate patterns, brilliant colors, and cultural symbols. Manufacturers and retailers in the Asia-Pacific region must understand and respond to these unique cultural influences in order to effectively match consumer expectations and preferences, driving market growth through product differentiation and localization.

Growing middle class and consumer aspirations: The growing middle class in Asia-Pacific is boosting demand for premium decorative lighting items as people look to improve the aesthetic appeal of their homes. As wages rise and desires shift, there is a greater readiness to invest in higher-quality lighting fixtures and unique designs that represent individual preferences and lifestyles. Furthermore, the growing influence of global design trends and lifestyle choices is altering consumer perceptions of decorative lighting, creating demand for modern, fashionable, and aspirational options. To capitalize on market opportunities and generate growth, manufacturers and retailers in the Asia-Pacific region must align their product offerings with the changing tastes and preferences of the increasing middle-class group.

Major Challenges

Price sensitivity and affordability: Price sensitivity and affordability are key concerns in the Asia-Pacific decorative lighting market, particularly in emerging economies with smaller disposable incomes than established nations. While demand for decorative lighting items is increasing throughout the region, customers are frequently limited by price constraints and emphasize cost when making purchasing selections. As a result, producers and retailers must strike a balance between offering new and high-quality lighting solutions and maintaining price competitiveness in order to gain market share and stimulate demand. This difficulty is exacerbated by severe rivalry from both domestic and international competitors, which puts pressure on profit margins and necessitates cost-effective production, pricing strategies, and supply chain efficiencies in order to remain competitive in price-sensitive markets.

Counterfeit and imitation products: Counterfeit and knockoff products are a major issue in the Asia-Pacific decorative lighting market, damaging brand integrity, consumer trust, and market competitiveness. The presence of counterfeit items, which are typically of poor quality and lack safety certificates, not only undermines consumer trust but also stifles the expansion and profitability of legal producers and retailers. Furthermore, the growth of e-commerce platforms and online marketplaces exacerbates the situation by allowing for the sale of counterfeit items, making it harder for consumers to distinguish between real and counterfeit products.

Based on product segment market is divided into sconce, chandeliers, pendants, flush mount and others. Flush mount type is predicted to grow at fastest rate in Asia-Pacific decorative lighting market. Based on light source segment of the market includes LED, fluorescent, incandescent, and others. Fluorescent source segment is expected to grow at rapid pace in Asia-Pacific decorative lighting market.

In Asia-Pacific's highly populated urban centers, where space is typically limited, flush-mount lighting fixtures provide a practical and space-saving alternative. These lamps are situated close to the ceiling, giving adequate lighting without taking up valuable floor or wall space. With the trend toward smaller living spaces, particularly in high-rise flats and condominiums, flush-mount lighting has grown in popularity among urban inhabitants looking to maximize space while still providing appropriate lighting. Flush-mount lighting fixtures have sleek, contemporary designs that suit the modern home decor trends popular in Asia-Pacific.

These fixtures frequently feature clean lines, simple profiles, and variable finishes that complement a wide range of design styles, from Scandinavian minimalism to urban elegance. As consumers gravitate toward modern and streamlined design aesthetics, flush mount lighting offers a stylish and functional lighting solution that enhances the overall ambiance of living spaces. Fluorescent lighting is known for its excellent energy efficiency and cost-effectiveness, making it an appealing choice for consumers and businesses in Asia-Pacific, where energy prices are a major concern. Fluorescent bulbs use less energy than standard incandescent bulbs, resulting in lower electricity bills and running costs over time. As consumers and companies grow more concerned with sustainability and energy conservation, the Asia-Pacific market is likely to see an increase in demand for energy-efficient lighting solutions such as fluorescent fixtures. Fluorescent lighting technology has advanced greatly in recent years, with improvements in lamp design, ballast technology, and phosphor coatings resulting in better performance, dependability, and light quality. Modern fluorescent fixtures provide improved color rendering, decreased flicker, and extended lamp life compared to earlier generations, addressing previous concerns and limitations associated with fluorescent lighting.

Based on application segment market includes commercial and household. Household application is predicted to grow at rapid pace in Asia-Pacific decorative lighting market. Based on distribution channel market includes speciality stores, supermarket and hypermarkets, online stores and others. Online distribution channel is expected to play key role in development of Asia-Pacific decorative lighting market.

Economic expansion, growing earnings, and expanding middle-class populations in Asia-Pacific countries all lead to increased disposable income and consumer spending on home remodelling and lifestyle products, such as decorative lighting. As people strive to personalize and update their living spaces, they are eager to invest in lighting fixtures that reflect their unique tastes, preferences, and lifestyle goals. This trend favours the household application segment, as both homeowners and renters emphasize enhancing their domestic settings through the use of decorative lighting solutions.

Consumers in the Asia-Pacific area are placing a greater emphasis on interior design, home décor, and self-expression, thanks to social media impact, design inspiration platforms, and aspirational lifestyle choices. Homeowners and renters increasingly see their living areas as extensions of their personalities and identities, seeking to create personalized and Instagram-worthy interiors that reflect their style preferences and showcase their creativity. The Asia-Pacific region has seen a fast increase in e-commerce adoption, owing to factors such as rising internet penetration, smartphone usage, and digital literacy. Consumers in the region are increasingly using internet channels to explore, compare, and buy products, including decorative lighting fixtures. E-commerce platforms convenience, accessibility, and variety appeal to busy city dwellers, time-constrained professionals, and tech-savvy consumers looking for hassle-free shopping experiences from the comfort of their own homes or mobile devices.

Based on report market is divided into five major countries including China, Japan, India, Australia and South Korea. China is predicted to lead the Asia-Pacific decorative lighting market.

China is widely recognized as a global manufacturing hub, notably in the lighting industry. The country has an extensive network of manufacturers, suppliers, and skilled workers, as well as advanced manufacturing skills and infrastructure. This manufacturing edge enables China to develop decorative lighting products at reasonable rates and serve a diverse range of market segments, both domestically and globally. With its large population and quickly growing middle class, China is a massive market for decorative lighting goods. As urbanization accelerates and earnings rise, there is an increasing desire for house modifications, interior design, and lifestyle changes, such as decorative lighting fixtures.

This developing market offers substantial opportunities for decorative lighting makers and dealers. China's standing as a worldwide manufacturing powerhouse includes its position as a top exporter of decorative lighting products. The country exports a wide range of lighting fixtures, from mass-market items to high-end designer collections, to markets throughout Asia and beyond. China's competitive pricing, broad product selections, and efficient supply chain management make it a popular sourcing destination for buyers and merchants looking for high-quality decorative lighting items. China's continuous infrastructure development projects, which include urban regeneration initiatives, commercial real estate developments, and public infrastructure projects, are driving demand for decorative lighting goods. As cities grow and modernize, there is a demand for lighting solutions that improve the aesthetics, usefulness, and sustainability of urban spaces.

Some of the key players operating in the market are Acuity, Philips (Signify), Home Depot, Hubbell, Generation Brands, Juno, Lowe’s, GE Lighting, LSI, Osram, Cree, Amerlux, Littmann, ETC, Columbia, AZZ, and Intense. Manufacturers have been keen on innovating products by making them smart and artificial intelligent compatible. For instance, Swarovski launched smart chandelier light pendants in July 2018. The multi-functional piece is controlled by a mobile application. It can be used as a fully functional light while reading or other similar kinds of work. The intensity of illuminance can be regulated using the app according to the ambiance expected.

Considered in this report

  • Historic year: 2018
  • Base year: 2023
  • Estimated year: 2024
  • Forecast year: 2029

Aspects covered in this report

  • Decorative Lighting market Research Report with its value and forecast along with its segments
  • Various drivers and challenges
  • On-going trends and developments
  • Top profiled companies
  • Strategic recommendation

By Product Type

  • Sconce
  • Chandeliers
  • Pendants
  • Flush Mount
  • Others(Track Lighting, Recessed Lighting, Rope Lighting, String Lights, Wall Washers)

By Light Source

  • LED
  • Fluorescent
  • Incandescent
  • Others(halogen bulbs, high-intensity discharge (HID) lamps, and neon lights)

By Application

  • Commercial
  • Household

By Distribution Channel

  • Specialty Stores
  • Supermarkets and Hypermarkets
  • Online Stores
  • Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases.

After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Decorative Lighting industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.


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Table of Contents

1. Executive Summary
2. Research Methodology
2.1. Secondary Research
2.2. Primary Data Collection
2.3. Market Formation & Validation
2.4. Report Writing, Quality Check & Delivery
3. Market Structure
3.1. Market Considerate
3.2. Assumptions
3.3. Limitations
3.4. Abbreviations
3.5. Sources
3.6. Definitions
4. Economic /Demographic Snapshot
5. Global Decorative Lighting Market Outlook
5.1. Market Size By Value
5.2. Market Share By Region
5.3. Market Size and Forecast, By Product Types
5.4. Market Size and Forecast, By Light Source
5.5. Market Size and Forecast, By Application
5.6. Market Size and Forecast, By Distribution Channel
6. Asia-Pacific Decorative Lighting Market Outlook
6.1. Market Size By Value
6.2. Market Share By Country
6.3. Market Size and Forecast, By Product Types
6.4. Market Size and Forecast, By Light Source
6.5. Market Size and Forecast, By Application
6.6. Market Size and Forecast, By Distribution Channel
7. Market Dynamics
7.1. Market Drivers & Opportunities
7.2. Market Restraints & Challenges
7.3. Market Trends
7.4. COVID-19 Effect
7.5. Supply chain Analysis
7.6. Policy & Regulatory Framework
7.7. Industry Experts Views
7.8. China Decorative Lighting Market Outlook
7.8.1. Market Size By Value
7.8.2. Market Size and Forecast By Product Types
7.8.3. Market Size and Forecast By Light Source
7.8.4. Market Size and Forecast By Application
7.8.5. Market Size and Forecast By Distribution Channel
7.9. Japan Decorative Lighting Market Outlook
7.9.1. Market Size By Value
7.9.2. Market Size and Forecast By Product Types
7.9.3. Market Size and Forecast By Light Source
7.9.4. Market Size and Forecast By Application
7.9.5. Market Size and Forecast By Distribution Channel
7.10. India Decorative Lighting Market Outlook
7.10.1. Market Size By Value
7.10.2. Market Size and Forecast By Product Types
7.10.3. Market Size and Forecast By Light Source
7.10.4. Market Size and Forecast By Application
7.10.5. Market Size and Forecast By Distribution Channel
7.11. Australia Decorative Lighting Market Outlook
7.11.1. Market Size By Value
7.11.2. Market Size and Forecast By Product Types
7.11.3. Market Size and Forecast By Light Source
7.11.4. Market Size and Forecast By Application
7.11.5. Market Size and Forecast By Distribution Channel
7.12. South Korea Decorative Lighting Market Outlook
7.12.1. Market Size By Value
7.12.2. Market Size and Forecast By Product Types
7.12.3. Market Size and Forecast By Light Source
7.12.4. Market Size and Forecast By Application
7.12.5. Market Size and Forecast By Distribution Channel
8. Competitive Landscape
8.1. Competitive Dashboard
8.2. Business Strategies Adopted by Key Players
8.3. Key Players Market Positioning Matrix
8.4. Porter's Five Forces
8.5. Company Profile
8.5.1. Signify NV
8.5.1.1. Company Overview
8.5.1.2. Financial Highlights
8.5.1.3. Geographic Insights
8.5.1.4. Business Segment & Performance
8.5.1.5. Product Portfolio
8.5.1.6. Key Executives
8.5.1.7. Strategic Moves & Developments
8.5.2. General Electric Company
8.5.3. Hubbell Incorporated
8.5.4. OSRAM Licht AG
8.5.5. Honeywell International Inc.
8.5.6. Eaton Corporation plc
8.5.7. Lumileds Holding B.V.
8.5.8. Everlight Electronics Co, Ltd
8.5.9. Seoul Semiconductor
8.5.10. Wipro Enterprise Ltd
8.5.11. Toshiba Corporation
8.5.12. Panasonic Holdings Corporation
9. Strategic Recommendations
10. Annexure
10.1. FAQ`s
10.2. Notes
10.3. Related Reports
11. Disclaimer
List of Figures
Figure 1: Global Decorative Lighting Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Decorative Lighting Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Decorative Lighting Market Share By Region (2023)
Figure 6: Asia-Pacific Decorative Lighting Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Asia-Pacific Decorative Lighting Market Share By Country (2023)
Figure 8: China Decorative Lighting Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Japan Decorative Lighting Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: India Decorative Lighting Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Australia Decorative Lighting Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: South Korea Decorative Lighting Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Competitive Dashboard of top 5 players, 2023
Figure 14: Porter's Five Forces of Global Decorative Lighting Market
List of Tables
Table 1: Global Decorative Lighting Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Decorative Lighting Market Size and Forecast, By Product Types (2018 to 2029F) (In USD Billion)
Table 6: Global Decorative Lighting Market Size and Forecast, By Light Source (2018 to 2029F) (In USD Billion)
Table 7: Global Decorative Lighting Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 8: Global Decorative Lighting Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 9: Asia-Pacific Decorative Lighting Market Size and Forecast, By Product Types (2018 to 2029F) (In USD Billion)
Table 10: Asia-Pacific Decorative Lighting Market Size and Forecast, By Light Source (2018 to 2029F) (In USD Billion)
Table 11: Asia-Pacific Decorative Lighting Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 12: Asia-Pacific Decorative Lighting Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 13: Influencing Factors for Decorative Lighting Market, 2023
Table 14: China Decorative Lighting Market Size and Forecast By Product Types (2018 to 2029F) (In USD Billion)
Table 15: China Decorative Lighting Market Size and Forecast By Light Source (2018 to 2029F) (In USD Billion)
Table 16: China Decorative Lighting Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 17: China Decorative Lighting Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 18: Japan Decorative Lighting Market Size and Forecast By Product Types (2018 to 2029F) (In USD Billion)
Table 19: Japan Decorative Lighting Market Size and Forecast By Light Source (2018 to 2029F) (In USD Billion)
Table 20: Japan Decorative Lighting Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 21: Japan Decorative Lighting Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 22: India Decorative Lighting Market Size and Forecast By Product Types (2018 to 2029F) (In USD Billion)
Table 23: India Decorative Lighting Market Size and Forecast By Light Source (2018 to 2029F) (In USD Billion)
Table 24: India Decorative Lighting Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 25: India Decorative Lighting Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 26: Australia Decorative Lighting Market Size and Forecast By Product Types (2018 to 2029F) (In USD Billion)
Table 27: Australia Decorative Lighting Market Size and Forecast By Light Source (2018 to 2029F) (In USD Billion)
Table 28: Australia Decorative Lighting Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 29: Australia Decorative Lighting Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 30: South Korea Decorative Lighting Market Size and Forecast By Product Types (2018 to 2029F) (In USD Billion)
Table 31: South Korea Decorative Lighting Market Size and Forecast By Light Source (2018 to 2029F) (In USD Billion)
Table 32: South Korea Decorative Lighting Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 33: South Korea Decorative Lighting Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)