Architectural Lighting Market Expansion Projected to Gain an Uptick During 2018-2028
Safety is a primary concern in architectural spaces, and it is quite important to acknowledge the need for adequate architectural lighting. Proper architectural lighting also plays a major role in creating an experience for people occupying the architectural space. Architectural lighting draws a person’s attention to the form of space, enabling the architecture to serve its true purpose. Companies offer architectural lighting solutions based on accepted international and national standards. Currently, manufacturers are offering smart architectural lighting solutions that provide safe and efficient on-demand lighting with the help of sensors that observe people, and set the lighting intensity to the necessary levels, automatically. These architectural lighting solutions have integrated long life LEDs that reduce the maintenance expenditure and energy wastage to a much greater extent. Aesthetics, function, and efficiency are the three key aspects that maintain a proper balance between the architecture and the architectural lighting.
Architectural Lighting Market: Drivers & Challenges
Reduction in overall energy expenditure is one of the primary factors driving the global architectural lighting market. Energy consumption is lowered significantly by integrating smart LED-based architectural lighting. Using architectural lighting as a service (LaaS) or circular architectural lighting, industries can cut back on their capital expenditure. Architectural lighting enables planned maintenance and outages, which helps reduce downtime and disruption. Without changing the lighting fixtures, easier re-zoning and architectural future proofing is made possible by architectural lighting. Companies offer architectural lighting solutions and services that comply with international and national safety standards, and energy and environmental regulations. Architectural lighting ensures a well-lit space that creates a safe environment and boosts the occupant’s morale. High quality LED-based architectural lighting features a low carbon footprint and minimizes the adverse impact on the environment. Such factors are expected to propel the global architectural lighting market to greater heights.
Though manufacturers offer their architectural lighting solutions integrated with optimal specifications, stringent and time-consuming safety and energy saving standards do not allow the proper balancing of the demand and supply. This factor is expected to challenge the growth of the global architectural lighting market. Also, the installation and customization services offered by architectural lighting solution manufacturers can be very expensive, and this factor is estimated to hinder the growth of the global architectural lighting market.
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Architectural Lighting Market: Segmentation
The architectural lighting market can be segmented on the basis of lighting type, service, component, type, function, and region.
On the basis of lighting type, the global architectural lighting market can be segmented into the following:
- Task Lighting
- Ambient Lighting
- Accent Lighting
On the basis of service, the global architectural lighting market can be segmented into the following:
- Installation Services
- Inspection Services
- Maintenance Services
- Customization Services
On the basis of component, the global architectural lighting market can be segmented into the following:
- Lamp Holders
On the basis oftype, the global architectural lighting market can be segmented into the following:
- Incandescent Lights
- Fluorescent Lights
- High Intensity Discharge (HID) Lights
- Light Emitting Diode (LED) Lights
On the basis of function, the global architectural lighting market can be segmented into the following:
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Architectural Lighting Market: Regional Outlook
Among all the regions, Asia Pacific economies such as India and China are expected to register the highest growth in the architectural lighting market. Currently, North America, especially the United States, leads the global architectural lighting market, owing to the increased power saving measures implemented by the governments and manufacturers in the region. Europe is expected to register the second-highest growth rate in the architectural lighting market.
Architectural Lighting Market: Key Players
Some of the key players in the global architectural lighting market are General Electric Company; Philips Lighting Holding B.V.; OSRAM GmbH; Feilo Sylvania; TCP International Holdings Ltd.; SeaGull Lighting; Orion Energy Systems Inc.; Acuity Brands Lighting, Inc.; W.W. Grainger, Inc.; and Cree, Inc., among others.