Global Lighting Fixtures and Luminaires Market to Reach $112.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Lighting Fixtures and Luminaires estimated at US$79.2 Billion in the year 2020, is projected to reach a revised size of US$112.9 Billion by 2027, growing at a CAGR of 5.2% over the analysis period 2020-2027.

Non-Portable, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$85.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Portable segment is readjusted to a revised 3.8% CAGR for the next 7-year period.

The Lighting Fixtures and Luminaires market in the U.S. is estimated at US$15.3 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$23.7 Billion by the year 2027 trailing a CAGR of 6.7% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.