World Demand for Lighting Fixtures to Exceed $127 Billion in 2014

Global demand for lighting fixtures is projected to climb 5.8 percent annually through 2014 to $127.5 billion.  Product sales will be driven by a strong rebound in motor vehicle output, an acceleration in residential building construction activity and continued growth in nonbuilding construction expenditures.  China alone will account for one-third of all additional demand through 2014, surpassing the US to become the largest lighting fixture market in the world.  Sales gains are also expected to be healthy in lower-volume markets such as Thailand, India, Russia, Vietnam, Turkey, Mexico and Indonesia. These and other trends, including market share and product segmentation, are presented in World Lighting Fixtures, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

Although increases will generally not be as robust as in developing countries, lighting fixture demand in developed parts of the world will rise as well.  In a few industrialized nations like Austria and Belgium, the rate of growth through 2014 will be similar to advances posted in developing areas, attributable in large part to a strong upturn in automotive industry production after a period of decline.  Sales of lighting fixtures in developed areas will also be spurred by an acceleration in economic growth and higher per capita incomes, leading to a pickup in consumer spending and renewed strength in residential building construction activity.

Vehicular fixtures will record the fastest market gains of any major product segment through 2014, stimulated by increases in global motor vehicle output and supported by a shift in the product mix toward more expensive units, including high intensity discharge and light-emitting diode (LED) lighting fixtures.  Because of the anticipated recovery in motor vehicle production in countries such as Canada, France, Italy, the UK and the US -- all of which have registered substantial drops in automotive output in recent years -- vehicular lighting fixture sales advances in these areas will be more robust than in many developing nations.  Nonportable outdoor fixture demand will expand at the next fastest rate, fueled by ongoing nonbuilding construction growth and an acceleration in residential building construction.  Efforts to increase the energy efficiency of lighting equipment already in place will contribute to sales growth for both indoor and outdoor lighting equipment.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.