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Global General Lighting Market to reach USD XX billion by the end of 2029.

Global General Lighting Market Size study & Forecast, by Product (LED lighting, Traditional lighting), by Application (Residential, Commercial, Outdoor, Industrial, Others) and Regional Analysis, 2022-2029

Product Code: ALTAE-58419338
Publish Date: 13-05-2023
Page: 200

Global General Lighting Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. The general lighting market refers to the market for lighting products used for general illumination purposes, such as in homes, offices, schools, hospitals, and other public spaces. These products include light bulbs, luminaires, and lighting fixtures, and are typically powered by electricity. The global general lighting market has been growing steadily over the past few years, driven by factors such as the increasing adoption of LED lighting technology, growing demand for energy-efficient lighting solutions, and the development of smart lighting systems. Moreover, retrofitting existing buildings and rising initiatives by the key market players is creating lucrative growth opportunity for the market over the forecast period 2022-2029.

Rising adoption of smart homes is a significant driver for the growth of smart lights. With the increasing popularity of smart home devices and voice assistants, consumers are looking for more convenient and connected ways to control their homes’ lighting systems. According to Statista, in 2018 there were 118.89 million smart homes, with smart fire detection and smart lightning possessing the largest share it is projected that by 2023, there will be 162.97 million smart home devices installed in Canada, and. However, the high initial cost for setting up a unit for manufacturing general lighting stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global General Lighting Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the largest market for general lighting, owing to the presence of a large number of leading lighting manufacturers and the high adoption rate of advanced lighting technologies. The region has a highly developed infrastructure and a growing demand for energy-efficient lighting solutions, which drives the demand for general lighting. The United States is the largest market for general lighting in North America, accounting for a significant share of the global market. The Asia-Pacific region is expected to witness the highest growth rate in the general lighting market during the forecast period. The region is home to a large population and has a growing demand for energy-efficient lighting solutions. The increasing urbanization and infrastructure development activities in countries such as China and India are driving the demand for general lighting in the region.

Major market player included in this report are:
Acuity Brands Inc.
Advanced Lighting Technologies LLC
Bridgelux Inc.
Citizen Watch Co. of America Inc.
Cree Lighting
Delta Electronics Inc.
Dialight Plc
Eaton Corp. Plc
General Electric Co.
Hafele America Co.

Recent Developments in the Market:
Ø In 2019, Signify (formerly known as Philips Lighting) announced that it had achieved carbon neutrality for all its operations globally, and committed to doubling its positive impact on the environment and society by 2025. The company has also been focusing on developing more energy-efficient LED lighting solutions for general lighting applications.
Ø In 2020, Osram launched a new range of LED-based general lighting products for industrial and commercial applications, aimed at providing higher energy efficiency and longer lifespan compared to traditional lighting sources. The company has also been investing in developing smart lighting solutions for smart cities and buildings.
Global General Lighting Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
LED lighting
Traditional lighting
By Application:
Residential
Commercial
Outdoor
Industrial
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. General Lighting Market, by Region, 2019-2029 (USD Billion)
1.2.2. General Lighting Market, by Product, 2019-2029 (USD Billion)
1.2.3. General Lighting Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global General Lighting Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global General Lighting Market Dynamics
3.1. General Lighting Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Increasing adoption of LED lighting technology
3.1.1.2. Growing demand for energy-efficient lighting solutions
3.1.1.3. Rising development of smart lighting systems
3.1.2. Market Challenges
3.1.2.1. High initial cost of investment
3.1.3. Market Opportunities
3.1.3.1. Retrofitting existing buildings
3.1.3.2. Rising initiatives by the key market players
Chapter 4. Global General Lighting Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global General Lighting Market, by Product
6.1. Market Snapshot
6.2. Global General Lighting Market by Product, Performance – Potential Analysis
6.3. Global General Lighting Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
6.4. General Lighting Market, Sub Segment Analysis
6.4.1. LED lighting
6.4.2. Traditional lighting
Chapter 7. Global General Lighting Market, by Application
7.1. Market Snapshot
7.2. Global General Lighting Market by Application, Performance – Potential Analysis
7.3. Global General Lighting Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. General Lighting Market, Sub Segment Analysis
7.4.1. Residential
7.4.2. Commercial
7.4.3. Outdoor
7.4.4. Industrial
7.4.5. Others
Chapter 8. Global General Lighting Market, Regional Analysis
8.1. General Lighting Market, Regional Market Snapshot
8.2. North America General Lighting Market
8.2.1. U.S. General Lighting Market
8.2.1.1. Product breakdown estimates & forecasts, 2019-2029
8.2.1.2. Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada General Lighting Market
8.3. Europe General Lighting Market Snapshot
8.3.1. U.K. General Lighting Market
8.3.2. Germany General Lighting Market
8.3.3. France General Lighting Market
8.3.4. Spain General Lighting Market
8.3.5. Italy General Lighting Market
8.3.6. Rest of Europe General Lighting Market
8.4. Asia-Pacific General Lighting Market Snapshot
8.4.1. China General Lighting Market
8.4.2. India General Lighting Market
8.4.3. Japan General Lighting Market
8.4.4. Australia General Lighting Market
8.4.5. South Korea General Lighting Market
8.4.6. Rest of Asia Pacific General Lighting Market
8.5. Latin America General Lighting Market Snapshot
8.5.1. Brazil General Lighting Market
8.5.2. Mexico General Lighting Market
8.6. Rest of The World General Lighting Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Acuity Brands Inc.
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Advanced Lighting Technologies LLC
9.2.3. Bridgelux Inc.
9.2.4. Citizen Watch Co. of America Inc.
9.2.5. Cree Lighting
9.2.6. Delta Electronics Inc.
9.2.7. Dialight Plc
9.2.8. Eaton Corp. Plc
9.2.9. General Electric Co.
9.2.10. Hafele America Co.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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