Global Lighting Fixtures and Luminaires Market to Reach $106.7 Billion by 2026

The Lighting Fixtures and Luminaires market in the U.S. is estimated at US$15.7 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.1 Billion by the year 2026 trailing a CAGR of 6.7% over the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.

In European countries, rise in the number of governmental policies and regulations for the purpose of discouraging inefficient lighting usage and encouraging efficient lighting technology implementation is expected to fuel growth especially for LED & OLED lamps integrated fixtures.

Rapid urbanization and increasing construction activity are the two main reasons driving growth for the fixtures market in Asia-Pacific.