High End Lighting Global Market Report 2024

The high end lighting market size has grown strongly in recent years. It will grow from $18.86 billion in 2023 to $20.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion during the historical era can be credited to the increasing embrace of state-of-the-art and modern lighting solutions, urbanization, architectural shifts, environmental consciousness, and economic advancement.

The high end lighting market size is expected to see strong growth in the next few years. It will grow to $27.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the upcoming period can be linked to the integration of smart home systems, consumer inclination towards customization, adherence to energy efficiency norms, emphasis on sustainability, economic rebound, and the rise of smart cities. Key trends projected for the future include technological progressions, design breakthroughs, innovations in technology, heightened uptake of smart lighting, and a focus on customization and personalization.

The growing number of smart homes in developing countries is expected to boost the high-end lighting market in the future. Smart homes are residences equipped with internet-connected devices that allow for the remote control and automation of systems such as lighting, heating, security, and entertainment. This rise in smart homes is driven by factors such as increasing disposable incomes, greater access to technology, and a growing demand for convenience and energy efficiency. smart devices facilitate the use of high-end lighting by enabling remote control, customization, and automation of lighting systems, thereby enhancing convenience, energy efficiency, and ambiance. For example, a survey conducted by National Public Radio in May 2021 found that nearly 60 million Americans own a smart speaker, with 29% owning more than one. Among the 1,292 people surveyed, 60% found these devices exceeded their expectations for convenience, and 52% found them highly useful. Therefore, the rise in smart homes in developing countries is expected to drive the growth of the high-end lighting market.

Major companies in the high-end lighting market are incorporating technologically advanced lighting solutions, such as portable lighting, to provide flexibility, convenience, and versatility for various indoor and outdoor environments. These portable lighting solutions enhance high-end lighting by allowing users to easily move and customize lighting setups for different spaces and activities while maintaining the same level of quality and sophistication. For example, in June 2022, Signify Holding, a lighting company based in the Netherlands, launched a range of hue smart lighting products with improved flexibility, control, and design options for smart home development. These products include the first fully customizable track lighting and a new smart switch. They feature advanced elements such as portable rechargeable lamps and smart switches with sensors for light control, designed for both indoor and outdoor use. This enhances the end-user experience by improving the utility of high-end smart home lighting and enhancing customer satisfaction while reducing the cost of smart home setups.

In February 2024, QTL Inc., a US-based manufacturer of architectural LED lighting solutions, acquired Excelsior Lighting Inc. for an undisclosed amount. This strategic acquisition significantly expands Q-Tran's landscape lighting offerings, strengthening its market position and broadening its product portfolio. Excelsior Lighting Inc. is a US-based manufacturer of high-end lighting fixtures and components.

Major companies operating in the high end lighting market are General Electric Company, LG Corporation, Panasonic Corporation, Honeywell International Inc., Eaton Corporation, Legrand Group, Signify NV, OSRAM GmbH, Hubbell Incorporated, Acuity Brands Lighting Inc., Cree Inc., Lutron Electronics Co. Inc., Electronic Theatre Controls Inc., Kichler Lighting, Tech Lighting LLC, Maxim Lighting, Minka Group, Arteriors Build India Private Limited, Quoizel LLC, Hudson Valley Lighting Group International, Hammerton Inc., Visual Comfort & Co., Hinkley Lighting Inc., Crystorama Lighting, Feiss, Holtkötter Licht GmbH.

North America was the largest region in the high end lighting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high end lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the high end lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

High-end lighting denotes premium, sophisticated solutions characterized by superior design, advanced technology, and exceptional quality. These fixtures often incorporate innovative materials and customizable options, typically crafted by renowned designers or brands. Enhancing both the aesthetic and functional aspects, high-end lighting finds its place in upscale residential, commercial, and hospitality spaces.

The primary types of high-end lighting include light-emitting diode lights, high-intensity discharge lamps, compact fluorescent lamps, fluorescent lamps, plug-in fluorescent, and others. A light-emitting diode (LED) light refers to a semiconductor device emitting light upon the passage of an electric current. Interior design styles span modern, traditional, and transitional themes, suitable for both wired and wireless applications. These designs cater to various end-users, encompassing commercial, industrial, residential, and other sectors.

The high-end lighting research report is one of a series of new reports that provides high-end lighting market statistics, including the high-end lighting industry's global market size, regional shares, competitors with a high-end lighting market share, detailed high-end lighting market segments, market trends and opportunities, and any further data you may need to thrive in the high-end lighting industry. This high-end lighting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The high-end lighting market consists of sales of chandeliers, pendant lights, wall sconces, recessed lighting, track lighting, floor lamps, led fixtures, smart lighting systems, outdoor lighting, designer lighting, and architectural lighting. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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