Development of linear lighting solution across horticulture in farming sector serves as a potential opportunity for the expansion of the global linear lighting market. Based on end use, the commercial segment accounted for the highest share in 2021. Based on region, Asia-Pacific held the largest share in 2021, contributing to around one-third of the global linear lighting market share.
Portland, OR, Jan. 09, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global linear lighting market garnered $20.8 billion in 2021, and is estimated to generate $56.4 billion by 2031, manifesting a CAGR of 11.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $20.8 billion |
| Market Size in 2031 | $56.4 billion |
| CAGR | 11.1% |
| No. of Pages in Report | 194 |
| Segments covered | Lighting Type, Application, End-Use, and Region. |
| Drivers | Surge in adoption of linear lighting for domestic applications |
| Opportunities | Development of linear lighting solution across horticulture in farming sector |
| Restraints | High cost of maintenance |
| The scarcity of qualified personnel |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global linear lighting market, owing to severe disruptions in the supply chain.
- With governments of several nations imposing and extending lockdowns, production and manufacturing facilities across the globe have been shut down, owing crisis and unavailability of workforce.
- Key players operating in the linear lighting industry temporarily witnessed a slowdown, owing to lack of availability of skilled professional to develop linear lighting market solutions, which led to decline the revenues for the financial year 2020 to 2021.
- However, the market started to recover from 2021 and is expected to remain in the growth stage during the forecast period.
The research provides detailed segmentation of the global linear lighting market based on Lighting Type, Application, End-Use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on lighting type, the recessed linear lighting segment held the highest share in 2021, accounting for nearly two-fifths of the global linear lighting market. However, the surface linear lighting segment is expected to continue its leadership status during the forecast period and is likely to register the highest CAGR of 12.8% from 2022 to 2031.
Based on application, the indoor segment accounted for the highest share in 2021, contributing to nearly three-fourths of the global linear lighting market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the outdoor segment is expected to manifest the highest CAGR of 12.1% from 2022 to 2031.
Based on end use, the commercial segment accounted for the highest share in 2021, holding around two-third of the global linear lighting market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is estimated to grow at the highest CAGR of 11.8% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to around one-third of the global linear lighting market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 12.4% during the forecast period.
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Leading market players of the global linear lighting market analyzed in the research include Acuity Brands, Inc., Cree Lighting, linea light group, Buljin ELMEC Pvt. Ltd., MaxLite, Inc, Philips Lighting, Fagerhult Group, Eaton Corporation, Current Lighting Solutions, LLC., OSRAM LIGHTING PRIVATE LIMITED.
The report provides a detailed analysis of these key players of the global linear lighting market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Linear Lighting market analysis from 2021 to 2031 to identify the prevailing Linear Lighting market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the Linear Lighting market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Linear Lighting market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
Lighting Type
- Suspended Linear Lighting
- Recessed Linear Lighting
- Surface Linear Lighting
Application
- Indoor
- Outdoor
End-Use
- Commercial
- Residential
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