Residential Lighting Fixtures - Demand and Sales Forecasts, Market Share, Market Size, Market Leaders

Study #: 4025 | Published: 03/2021 | Pages: 76 | Individual User License: US$ 2,900

Demand for residential general purpose lighting fixtures is forecast to rise 4.3% annually through 2024 to $6.7 billion. Gains will be driven by:

  • increased interest in home renovation activity as people spend more time at home during the COVID-19 pandemic
  • growth in single-family home construction
  • rising interest among homeowners in energy efficiency, which will support the replacement of existing fixtures and the installation of high-end products in new applications

Trends Toward More & More Efficient Lights Will Benefit Demand in Single-Family Homes

Single-family housing accounts for the vast majority of residential lighting fixtures demand and will drive gains through 2024:

  • Lighting fixture demand will spurred by the increased adoption of LED and smart lighting products by homeowners.
  • Changes in interior design trends will support lighting fixture demand, as homeowners will replace lamps and other fixtures with those that correspond with new styles, such as recessed lighting.

Efforts to Control Energy Costs & Increase Convenience to Support LED & Smart Lighting Sales

Homeowners will place increased focus on reducing their utility bills, which can be done through the use of energy efficient lighting fixtures. LED lights require less wattage than traditional bulbs, and therefore use less energy and cost less to light an area. However, LED products are typically initially more expensive than traditional lighting, which will provide a boost to demand as homeowners first specify these products in new buildings or upgrade to these fixtures in existing structures.

While smart lighting does not account for a major share of residential lighting fixtures demand, it is expected to record strong gains through 2024. The rising adoption of smart lighting in homes will be driven by in its technologically advanced capabilities, which both increases the convenience and capabilities of lighting and can further improve energy efficiency:

  • Wireless functions that allow for lighting fixtures to be controlled from any place where the internet can be accessed allow homeowners to adjust lighting from anywhere, such as to keep the house appearing occupied while on vacation and to check if lights were switched off while at work.
  • Voice control features allow users to adjust such features as light brightness and color without the need for switch or remote.

Interest in Outdoor Living to Boost Gains

Increased homeowner interest in outdoor living will also boost lighting fixture demand growth. In order to create outdoor areas more suitable for cooking and entertaining, especially into the evening and twilight hours, homeowners are installing more extensive and higher-end lighting. Products specified for these purposes include area lighting and floodlights, many of which are motion-activated and can be adjusted remotely.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Study Scope & Product Description

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Demand by Product

Indoor Lighting Fixtures

Outdoor Lighting Fixtures

Parts & Accessories

Pricing Trends

4. Housing Types

Demand by Housing Type

Single-Family Housing

Multifamily Housing

Manufactured Housing

New vs. Replacement Demand

5. Key Suppliers & Market Share

Industry Composition

Market Share

6. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographics

Consumer Spending

Building Construction

Residential Building Construction

Residential Improvements & Repairs

Housing Completions

Housing Stock

Commercial Building Construction

Commercial Building Improvements & Repairs

Nonbuilding Construction Expenditures

Manufacturers' Shipments

Highway Spending


List of Tables

2. About This Report

Table 2-1 | Annual Residential General Purpose Lighting Fixture Demand by Product, 2019 - 2021 (million dollars)

Table 2-2 | Annual Residential General Purpose Lighting Fixture Demand by Housing Type, 2019 - 2021 (million dollars)

3. Overview

Table 3-1 | Residential Lighting Fixture Demand, 2009 - 2019 (million dollars)

Table 3-2 | Residential Lighting Fixture Demand by Product, 2009 - 2029 (million dollars)

Table 3-3 | Indoor Residential Lighting Fixture Demand by Product, 2009 - 2029 (million dollars)

Table 3-4 | Outdoor Residential Lighting Fixture Demand by Product, 2009 - 2029 (million dollars)

4. Housing Types

Table 4-1 | Residential Lighting Fixture Demand by Housing Type, 2009 - 2029 (million dollars)

Table 4-2 | Single-Family Housing Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

Table 4-3 | Multifamily Housing Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

Table 4-4 | Manufactured Housing Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

Table 4-5 | Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

6. Appendix

Table 6-1 | Relevant Industry Codes

Table 6-2 | Relevant HS/HTS Codes

Table 6-3 | Macroeconomic Indicators, 2009 - 2029 (billion 2012 dollars)

Table 6-4 | Population & Households, 2009 - 2029 (million persons)

Table 6-5 | Personal Consumption Expenditures, 2009 - 2029 (billion dollars)

Table 6-6 | Building Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)

Table 6-7 | Residential Building Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)

Table 6-8 | Residential Improvement & Repair Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)

Table 6-9 | New Housing Indicators, 2009 - 2029

Table 6-10 | Housing Stock by Type, 2009 - 2029 (million units)

Table 6-11 | Commercial Building Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)

Table 6-12 | Commercial Building Improvement & Repair Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)

Table 6-13 | Nonbuilding Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)

Table 6-14 | Manufacturers' Shipments, 2009 - 2029 (billion dollars)

Table 6-15 | Highway Spending by Type, 2009 - 2029 (billion dollars)


List of Figures

1. Executive Summary

Figure 1-1 | US Residential Lighting Fixtures Market

2. About This Report

Figure 2-1 | Residential General Purpose Lighting Fixture Demand Annual Growth, 2018 - 2024 (% annual growth)

3. Overview

Figure 3-1 | Residential Lighting Fixture Demand, 2009 - 2019 (million dollars)

Figure 3-2 | Residential Lighting Fixture Demand by Product, 2009 - 2029 (million dollars)

4. Housing Types

Figure 4-1 | Residential Lighting Fixture Demand by Housing Type, 2009 - 2029 (million dollars)

Figure 4-2 | Single-Family Housing Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

Figure 4-3 | Multifamily Housing Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

Figure 4-4 | Manufactured Housing Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

Figure 4-5 | Lighting Fixture Demand by Application, 2009 - 2029 (million dollars)

5. Key Suppliers & Market Share

Figure 5-1 | US Residential General Purpose Lighting Fixture Market Share by Company, 2019 (billion dollars)

6. Appendix

Figure 6-1 | Annual Growth in Real GDP, 2000 - 2019, Compared to 1980 - 2005 Average (percent)

Figure 6-2 | Annual Population Growth, 2004 - 2019 (percent)

Figure 6-3 | New Housing Square Footage by Housing Type, 2004 - 2019

Figure 6-4 | Housing Stock: Share by Year of Construction, 2019 (million units)


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