Sep 5, 2014 : Bharat Book Bureau presents the new report, on " World Lighting Fixtures”, is projected to increase at a 7% annual rate through 2018 to $174.5 billion, improving upon growth that was recorded during the 2008-2013 period.
World demand to rise 7% annually through 2018
Worldwide demand for lighting fixtures is projected to increase at a 7% annual rate through 2018 to $174.5 billion, improving upon growth that was recorded during the 2008-2013 period. Advances will be bolstered by industrialization efforts in developing nations. Specifically, locations that maintain significant and fast growing construction and motor vehicle production markets, such as India and China, will post the fastest gains in lighting fixture demand. In addition, the rebounding economies in much of the developed world will facilitate rising lighting fixture sales. Furthermore, the continued adoption of higher value lighting fixtures that are optimized ...view middle of the document...
However, India will increase at the fastest rate, driven by the country’s continuing expansion of its electric grid, modernization of its building stock, and growth of the nation’s vehicle production industry.
Key US market to see above-average growth
The US, which was the second largest national market in 2013 with 18 percent of global sales, is projected to achieve above-average gains, even as the rest of the developed world posts more moderate growth rates. Advances in the US lighting fixture market are largely the result of an ongoing economic rebound. However, sales increases in much of Western Europe, and Japan and Australia will be slower, hampered by a long-running shift in vehicle production capacity away from these areas and a less robust recovery from a weakened economic climate. Still, lighting fixture sales in these areaswill benefit from a pickup in consumer spending levels and construction activity, even given their much more mature lighting fixture markets.
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