Lamps and Lighting Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
Description
The Global Lamps And Lighting Market was valued at USD 83.6 billion in 2024 and is projected to grow at a CAGR of 4.2% between 2025 and 2034. The market growth is fueled by the rising adoption of smart city initiatives, increasing consumer focus on home improvement, and technological breakthroughs. Advances in LED technology, smart home integration, and energy-efficient solutions are reshaping the industry, driving demand across residential, commercial, and industrial sectors. The transition from traditional lighting systems to smart, energy-efficient alternatives reflects a growing consumer preference for convenience and sustainability. As government policies worldwide emphasize energy efficiency and environmental responsibility, the market is poised for substantial growth. Enhanced functionalities like voice control, app-based operation, and automation continue to elevate the appeal of smart lighting solutions, further driving the expansion of this dynamic industry.
The market can be categorized based on product type into ceiling lights, chandeliers, light bulbs, fittings, and portable lamps. Among these, ceiling lights and chandeliers stood out, generating USD 41 billion in 2024. This segment is projected to reach USD 62 billion by 2034, growing at an estimated CAGR of 4.4% during the forecast period. The rising popularity of smart ceiling lights, operable via apps, voice commands, or home automation systems, is a significant growth driver. Modern high-end chandeliers offer advanced features like Bluetooth speakers, Wi-Fi connectivity, and touch controls, creating an enhanced user experience and appealing to tech-savvy consumers.
In terms of end users, the lamps and lighting market is segmented into residential, commercial, and industrial applications. The residential sector accounted for 39% of the market share in 2024 and is expected to grow at a CAGR of 4.5% between 2025 and 2034. The increasing adoption of smart lighting technology, including smart bulbs, switches, and ceiling lights, reshapes residential lighting trends. The growing popularity of entertainment and gaming rooms has also boosted demand for RGB and color-changing bulbs, enabling consumers to create customized ambiances tailored to their preferences.
The United States lighting market is anticipated to grow at a CAGR of 4.3% between 2025 and 2034. Factors such as the expansion of IoT-enabled smart lighting solutions, favorable government policies promoting energy efficiency, and rising demand for residential and commercial renovations contribute to this growth. LED lighting remains the most widely used option in the U.S., with its popularity driven by cost efficiency, longevity, and superior energy savings. The transition from traditional incandescent and CFL lighting to LEDs strengthen market growth, reflecting a shift toward sustainable and modern lighting solutions.
The market can be categorized based on product type into ceiling lights, chandeliers, light bulbs, fittings, and portable lamps. Among these, ceiling lights and chandeliers stood out, generating USD 41 billion in 2024. This segment is projected to reach USD 62 billion by 2034, growing at an estimated CAGR of 4.4% during the forecast period. The rising popularity of smart ceiling lights, operable via apps, voice commands, or home automation systems, is a significant growth driver. Modern high-end chandeliers offer advanced features like Bluetooth speakers, Wi-Fi connectivity, and touch controls, creating an enhanced user experience and appealing to tech-savvy consumers.
In terms of end users, the lamps and lighting market is segmented into residential, commercial, and industrial applications. The residential sector accounted for 39% of the market share in 2024 and is expected to grow at a CAGR of 4.5% between 2025 and 2034. The increasing adoption of smart lighting technology, including smart bulbs, switches, and ceiling lights, reshapes residential lighting trends. The growing popularity of entertainment and gaming rooms has also boosted demand for RGB and color-changing bulbs, enabling consumers to create customized ambiances tailored to their preferences.
The United States lighting market is anticipated to grow at a CAGR of 4.3% between 2025 and 2034. Factors such as the expansion of IoT-enabled smart lighting solutions, favorable government policies promoting energy efficiency, and rising demand for residential and commercial renovations contribute to this growth. LED lighting remains the most widely used option in the U.S., with its popularity driven by cost efficiency, longevity, and superior energy savings. The transition from traditional incandescent and CFL lighting to LEDs strengthen market growth, reflecting a shift toward sustainable and modern lighting solutions.
Table of Contents
220 Pages
- Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
- Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021-2034
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Key news & initiatives
- 3.5 Regulatory landscape
- 3.6 Impact forces
- 3.6.1 Growth drivers
- 3.6.1.1 Advancements in lighting technology
- 3.6.1.2 Higher spending on home renovations
- 3.6.2 Industry pitfalls & challenges
- 3.6.2.1 Environmental concerns and e-waste
- 3.6.2.2 Counterfeit and low-quality products
- 3.7 Consumer buying behavior analysis
- 3.8 Trade analysis (HS Code- 9405)
- 3.8.1 Top 10 Export countries
- 3.8.2 Top 10 Import countries
- 3.9 Growth potential analysis
- 3.10 Porter’s analysis
- 3.11 PESTEL analysis
- Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
- Chapter 5 Market Estimates & Forecast, By Product Type, 2021-2034 (USD Billion) (Million Units)
- 5.1 Key trends
- 5.2 Ceiling lights & chandeliers
- 5.2.1 Ambient lighting
- 5.2.2 Recessed lighting
- 5.2.3 Task lighting
- 5.2.4 Others (accent lighting etc.)
- 5.3 Light bulbs & fittings
- 5.3.1 Incandescent
- 5.3.2 Halogen
- 5.3.3 Light-emitting diode
- 5.3.4 Others (compact fluorescent etc.)
- 5.4 Portable lamps
- 5.4.1 Table lamps
- 5.4.2 Floor lamps
- 5.4.3 Desk lamps
- 5.4.4 Others (reading lights etc.)
- Chapter 6 Market Estimates & Forecast, By Technology, 2021-2034 (USD Billion) (Million Units)
- 6.1 Key trends
- 6.2 Smart
- 6.3 Conventional
- Chapter 7 Market Estimates & Forecast, By Installation, 2021-2034 (USD Billion) (Million Units)
- 7.1 Key trends
- 7.2 Indoor
- 7.3 Outdoor
- Chapter 8 Market Estimates & Forecast, By Price, 2021-2034 (USD Billion) (Million Units)
- 8.1 Key trends
- 8.2 Low
- 8.3 Medium
- 8.4 High
- Chapter 9 Market Estimates & Forecast, By End Use, 2021-2034 (USD Billion) (Million Units)
- 9.1 Key trends
- 9.2 Residential
- 9.3 Commercial
- 9.3.1 Office
- 9.3.2 Retail spaces
- 9.3.3 Hotels and restaurants
- 9.3.4 Hospital and healthcare facilities
- 9.3.5 Others (educational institutes etc.)
- 9.4 Industrial
- Chapter 10 Market Estimates & Forecast, By Distribution Channel, 2021-2034 (USD Billion) (Million Units)
- 10.1 Key trends
- 10.2 Online
- 10.2.1 E-commerce
- 10.2.2 Company owned website
- 10.3 Offline
- 10.3.1 Supermarkets and hypermarkets
- 10.3.2 Specialty stores
- 10.3.3 Others (home improvement stores, etc.)
- Chapter 11 Market Estimates & Forecast, By Region, 2021-2034 (USD Billion) (Million Units)
- 11.1 Key trends
- 11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
- 11.3 Europe
- 11.3.1 UK
- 11.3.2 Germany
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Spain
- 11.3.6 Russia
- 11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 India
- 11.4.3 Japan
- 11.4.4 South Korea
- 11.4.5 Australia
- 11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.6 MEA
- 11.6.1 UAE
- 11.6.2 Saudi Arabia
- 11.6.3 South Africa
- Chapter 12 Company Profiles
- 12.1 Acuity Brands
- 12.2 Cree
- 12.3 Crompton
- 12.4 Eaton
- 12.5 Emerson
- 12.6 General Electric
- 12.7 Havells
- 12.8 LG Electronics
- 12.9 Osram Licht
- 12.10 Panasonic
- 12.11 Philips
- 12.12 Samsung Electronics
- 12.13 Vorlane
- 12.14 Wipro
- 12.15 Zumtobel
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