Chandelier Market Size Worth $8.5 Billion By 2025 | CAGR: 3.4%: Grand View Research, Inc.
SAN FRANCISCO, Oct. 24, 2019 /PRNewswire/ -- The global chandelier market size is expected to reach USD 8.5 billion by 2025, at a CAGR of 3.4%, according to a new report by Grand View Research, Inc. Increasing use of chandeliers as decorative lighting product in commercial spaces is expected to impel market growth. Growing awareness regarding interior decoration coupled with increasing investments in home décor, especially by affluent millennials is anticipated to propel the growth. Social networking sites 1] play a vital role in promoting the use of chandeliers to enhance residential as well as commercial decor, which in turn is expected to fuel the product demand.
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Key suggestions from the report:
-- Transitional product generated a market revenue of more than USD 2
billion in 2018. This segment is expected to continue this dominance in
near future, owing to versatility of the product
-- In terms of application, commercial sector held the dominant market
share of more than 60% in 2018, owing high demand for the product from
commercial places
-- Modern chandelier segment is expected to witness the fastest CAGR of
3.8% from 2019 to 2025, owing to innovative designs suitable for modern
homes
-- North America held the dominant market share of 31.7% in 2018 and is
anticipated to continue leading over the forecast period
-- Online distribution channel is expected to witness a CAGR of 4.8% from
2019 to 2025
-- Some of the key players are Elegant Lighting; Generation Brands LLC;
Koninklijke Philips N.V.; Maxim Lighting International; HSL Worldwide
Lighting Corporation; Acuity Brands Lighting Inc.; Hubbell Incorporated;
Vanguard Lighting Co. Ltd.; King's Chandelier Company, and James R.
Moder Crystal Chandelier Inc.
Read 80 page research report with ToC on "Chandelier Market Size, Share & Trends Analysis Report By Product (Traditional, Transitional, Modern), By Application (Residential, Commercial), By Distribution Channel, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/chandelier-market
Over the past few years, the raw material preference is shifting from crystal to other materials such as metal, glass, wood, plastic, and concrete. Rising popularity of products made using a combination of materials, such as metal and wood or metal and glass is expected to create growth opportunities for manufacturers. In addition, rising popularity of black and other dark colored chandeliers for restrained and bright interiors is expected to drive the market growth.
Transitional chandeliers held the dominant market share of over 35% in terms of revenue in 2018. Transitional variants are a combination of both traditional as well as modern kinds. The product has gained popularity among consumers owing to innovative designs that beautifully blend with any type of interior. Iron, nickel, bronze, brass, steel, and copper are the commonly used raw materials for these products.
Asia Pacific is anticipated to exhibit the fastest CAGR over the forecast period, attributed to increasing investments in property renovation. Growing popularity of China, Thailand, India, Sri Lanka, and Maldives as tourist destinations is anticipated to drive the regional product demand. Moreover, increasing use of luxury decorative lighting in commercial places, such as hotels and restaurants will drive the growth of the market.
Grand View Research has segmented the global chandelier market based on product, application, distribution channel, and region:
-- Chandelier Product Outlook (Revenue, USD Million, 2015 - 2025)
-- Traditional
-- Transitional
-- Modern
-- Chandelier Application Outlook (Revenue, USD Million, 2015 - 2025)
-- Residential
-- Commercial
-- Chandelier Distribution Channel Outlook (Revenue, USD Million, 2015 -
2025)
-- Offline
-- Online
-- Chandelier Regional Outlook (Revenue, USD Million, 2015 - 2025)
-- North America
-- U.S.
-- Europe
-- Germany
-- U.K.
-- Asia Pacific
-- Japan
-- China
-- Central & South America
-- Brazil
-- Middle East & Africa
-- South Africa
Find more research reports on Homecare & Decor, by Grand View Research:
-- Window Covering Market - The global window covering market size was
valued at USD 27.6 billion in 2018 and is expected to expand at a CAGR
of 4.2% over the forecast period.
-- Residential Hobs Market - The global residential hobs market size was
valued at USD 11.6 billion in 2018 and is expected to expand at a CAGR
of 7.2% in the forecast period.
-- Home Decor Market - The global home decor market size was valued at USD
663.1 billion in 2018. Rising demand for furniture and fixtures as well
upholstery products will boost the product demand in the market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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