seobhushan (55)

1
Residential Lighting Products Market is projected
to reach CAGR 10 by 2027
2
Key Insights from Residential Lighting Products
Market

• The residential lighting products market is
  slated to amass USD 70 billion in value through
  2027. Residential lighting products such as table
  lamps, floor lamps, and wall lamps have
  transformed significant in terms of design and
  technology in recent years. Consumers are
  nowadays preferring LED lighting solutions as
  they consume less amount of electricity and emit
  ample amount of luminescence.
• Rise in disposable income across emerging nations
  has led to an increase in standard of living,
  steering the demand for smart homes that are
  equipped with energy-saving and cost-effective
  lighting solutions. To limit the consumption of
  electricity, governments across many countries
  promoting the use of LEDs in residential space.
• Favorable government policies to encourage the
  use of energy-efficient lighting solutions will
  complement the market growth. In June 2021, the
  British government banned the use of halogen
  bulbs and is devised plans to further ban the use
  of fluorescent bulbs by the end of 2023 to boost
  the sale of LEDs.

3
Regional Insights in Residential Lighting
Products Market

• Countries across Latin America are witnessing a
  surge in demand for residential lighting products
  as to a growing inclination towards a lavish
  lifestyle and increasing disposable income.
  Decorative lights have witnessed considerable
  demand as they improve the beauty of a particular
  space in the house through extra luminescence.
• There has also been an increase in the presence
  of new market players in Latin America due to the
  growing demand for the product along with the
  need for energy efficient lighting solutions.

4

Latest Research Report On Residential Lighting
Products Market _at_ https//www.gminsights.com/indus
try-analysis/residential-lighting-products-market
Request for a sample of this research report
_at_ https//www.gminsights.com/request-sample/detail
/5085
5
Major Companies in Residential Lighting Products
Market

• 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.

6
Industry Coverage

7
Stay In Touch Website www.gminsights.com Soci
al Media