Global stage lighting market is expected to grow at a CAGR of 4.55% from 2022 to 2028

The global stage lighting market is expected to grow at a CAGR of 4.55% from 2022 to 2028

The stage lighting market is driven by technologically reformed products and has witnessed a range of new features penetrating its value chain. A vast range of products is making a difference across the industry due to continuous innovation and quality improvements. Technology has been an integral part of this market, from traditional lamps to modern-day smart wireless light controllers.

Raw materials constitute the single largest cost component in the stage lighting fixtures and control solutions market, comprising approximately 40% to 60% of the overall cost of production. Prices of major raw materials used to manufacture stage lighting fixtures and control solutions, such as steel, aluminum, plastic, and rubber, have increased significantly over the last few years. The volatility of raw material prices also seriously threatens vendor profit margins in the stage lighting market.

Other operating expenses, such as labor wages, are also rising. Rising raw materials cost further surged manufacturing costs by another band of 5% to 7%, narrowing profit margins. Adding to all these costs, Chinese manufacturers add more worries to the company's top line as they bring up low-cost products. These factors burden vendors that strive to produce efficient stage lighting solutions at affordable costs to cope with increasing market competition.