$ 6.91 Billion Growth Expected in Global Decorative Lighting Market 2021-2025

The global decorative lighting market is expected to grow by USD 6.91 billion at a CAGR of over 4% during 2021-2025, according to the latest market research report by Technavio.

The decorative lighting market is driven by the growing demand for energy-efficient decorative lighting products. In addition, evolving lighting product design concept leading to premiumization is anticipated to boost the growth of the decorative lighting market.

Consumers continuously look for energy-efficient products that consume less energy, long-lasting, and incur low electricity bills. Governments are also undertaking various initiatives and distinct activities to encourage the adoption of energy-efficient products.

These factors are driving the demand for energy-efficient decorative lighting products. To capitalize on this demand, vendors in the market are introducing a wide range of energy-efficient chandeliers, pendant lights, flush mounts, table lamps, and other products.

For instance, Generation Lighting offers LED products such as Orren Medium LED Chandelier and Ledgend Large LED Outdoor Sconce. Therefore, the rising demand for energy-efficient decorative products is expected to have a positive impact on the growth of the market during the forecast period.