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Residential Lighting Products Market Share

Report ID: GMI5085
Published Date: Aug 2021
Report Format: PDF

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Residential Lighting Products Market Share

The prominent companies operating in the market are

Hubbel Incorporated
Osram Licht AG
Nichia Corporation
Signify N.V.
Lutron Electronics
Cree, Inc.
Zumtobel Group AG
General Electric
Everlight Electronics Co. Ltd.
Acuity Brands Inc.

Residential lighting product manufacturers are emphasizing on new lighting product launches with smart features and high lumen capacity to increase the industry revenue. For instance, in May 2021, Osram Licht AG partnered with Infineon to boost the Near Field Communication (NFC) programming to increase the productivity and flexibility in LED driver configurations. Industry leaders are also adding a wide range of developed residential lighting products, such as human centric lighting and smart lighting to enhance their product portfolio and strengthen their revenue share.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

Market size residential lighting products surpassed USD 40 billion in 2020 and will register a CAGR of over 10% through 2027.

North America outdoor residential lighting market will register a CAGR of 10% through 2027 with increasing consumer interest in spacious and safe corridors, balconies, and patios.

B2B sales channel will capture 46% of market share by 2027 with increasing focus of companies like IKEA, Walmart, Amazon, etc. on updating their lighting products inventory.

Europe market size was over USD 12 billion in 2020 and will grow on account of increasing residential construction activities and home renovation projects.