Global Lighting Fixtures Market to Cross $94 Billion by 2010, According to New Report by Global Industry Analysts, Inc.

The lighting industry encompasses industrial, commercial, residential and public lighting. Lamps, lighting fixtures, and components are the three principal sub-sectors in the electric lighting industry. Made up of product segments such as lighting fixtures, lamps, and related components, the global lighting equipment market is expected to witness growth mainly in the end-use sectors of construction and other industrial development activities.

The global lighting fixtures market comprises of several companies engaged in the development and manufacture of a range of fixtures from basic sconces to complex chandeliers. High quality and product innovation remain key competitive strategies for global majors, while price has emerged as a strong competitive platform in recent years. Illumination based on solid-state semiconductors such as LEDs are expected to play a major role in lighting the future.

Europe currently represents the largest market in the global lighting fixtures market and is projected to cross US$23.5 billion by the year 2009, as stated by Global Industry Analysts, Inc. Asia-Pacific region is poised to post the fastest compounded annual growth rate among the regional markets, at 6.5 percent over the ten-year analysis period. Non-portable fixtures such as vehicular and industrial fittings are expected to dominate shipments. The non-portable fixtures market was estimated at more than US$61 billion in the year 2006. Industrial, non-building (airports, railways) and residential construction, replacement products, and industrial and commercial retrofitting are the key driving forces. Additionally, demand is to be stimulated by highly priced, technologically advanced and long lasting energy saving products such as non-incandescent portable fixtures, high intensity discharge (HID) lighting, electronic ballasts, and portable fixtures using light emitting diodes (LED). Parts and accessories market are projected to witness the fastest growth of more than 5 percent during the analysis period and cross US$7 billion by 2008.

The emergence of solid-state lighting technology that offers increased energy savings and advanced capabilities is poised to act as a significant challenge to existing lamps and fixtures manufacturers worldwide. The global lighting equipment market is expected to witness growth mainly in the end use sectors of construction and other industrial development activities. Another factor that is to contribute to growth of the market is booming end-use sectors in developing regions. Growth in industrialization and construction activities in these regions is spurring accelerated demand for lighting equipment. Besides, a rise in living standards, coupled with increased real estate activity, is expected to position China as the leading market for lighting equipment, with growth in the industrialized Western Europe and North America exhibiting less than global average. With the market in these regions mostly dependent on new construction activity, efforts are on to maximize energy efficiency in existing buildings.

The report titled "Lighting Fixtures: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, region-specific issues and trends, market drivers, key players and their market shares, product introductions, and industry-related strategic developments. The study also analyzes market data and analytics in value sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World by the following product segments - Portable, Non-Portable, and Parts & Accessories.

Key players dominating the global Lighting Fixtures market include Acuity Brands, Advanced Lighting Technologies, Catalina Lighting, Cooper Lighting, GE Lighting Systems, Genlyte Group, JJI Lighting Group, Grote Industries, Hubbell Lighting, Columbia Lighting, Juno Lighting, Koito Manufacturing Company, OSRAM GmbH, Philips Lighting, Universal Lighting Technologies, and Zumtobel AG.