Global Chandelier Market by Application (Commercial, Residential), by Product (Transitional, Modern, Traditional) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global chandelier market was worth USD 6.7 billion in 2018. It is projected to grow at a compound annual rate (CAGR), of 3.4% between 2019 and 2025. This lighting fixture is used in high-end hotels and royal residences, as well as commercial spaces, to improve the ambience. Market growth is expected to be strong. The product demand is expected to rise due to the increasing number of luxury homes in major metropolitan areas like New York, Los Angeles and San Francisco.

Market growth is expected to be driven by the rising disposable income of millennials and tourism. Chandeliers are a major market driver for decorative lighting products, including those made by hotels. The market will be positively influenced by the increasing preference of corporates and other organizations to host annual events at hotels. To cater to corporate clients, hotels are continually improving their infrastructure and services. Chandeliers add a modern and luxurious touch to rooms and increase the aesthetic appeal of interiors. Many of these variants, such as the giant round chandelier, bubble lighting, supernova and large crystal chandeliers, are very popular in hotel interior design and decoration.

Market growth is expected to be driven by the increasing construction of luxury homes due to urbanization and changing consumer habits. Christie's International Real Estate reports that luxury home sales worldwide grew by 11% in 2017. This can be attributed to the favorable financial assistance provided by banks for home loans. Luxury homes are a great way to upgrade your lifestyle or invest. Chandeliers are becoming a status symbol and a symbol for wealth and status due to the increasing number of luxury homes. This will contribute to market growth in the future.

The market is expected to see significant growth in the demand for circular and low hanging chandeliers, as well as other lighting fixtures that can be used to decorate dining tables. In recent years, consumers have become more interested in design and raw materials such as hygge and lagom (brass and copper), farmhouse, French country and iron. The chandeliers can be customized to fit the interior design preferences of buyers by manufacturers.

Application Insights

In 2018, the commercial segment held over 60% of the market and will continue to dominate the market for the forecast period. The growth is being driven by the increasing use of chandeliers in commercial spaces to enhance the ambience. Lighting is an essential part of creating the right atmosphere in commercial spaces such as restaurants, bars, shops, malls and libraries. This will result in a rising importance of lighting systems in commercial facilities, which will drive the segment's growth during the forecast period.

Due to the rising demand for luxurious interiors, the residential segment will experience the fastest CAGR during the forecast period. Key growth drivers include rising living standards and consumer willingness to spend more on home decor. The product demand will be fueled by rising purchasing power in major markets such as the U.S. and China. The popularity of dimmable and brightness-controllable chandelier lights has increased over the years. This will drive the segment's growth.

Distribution Channel Insights

In 2018, the market for chandeliers was dominated by the offline segment, which accounted for more than 90% of the total market. The most popular offline distribution channels are department stores and home improvement retailers. Before making any purchase decision, they offer a variety of physical verification options.

Online channel sales are expected to grow at 4.8% annually between 2019 and 2025. The rapid growth of the online e-commerce market has been driving regional growth and facilitating online sales of chandeliers. The United States is the largest market for e-commerce in the world. However, e-commerce in lighting will continue to grow in Asia Pacific countries like China and India. Amazon; Shades of Light; Lamps Plus; The Home Depot Inc.; Lumens; Lowe's Companies; Inc.; Arhaus; Bed Bath & Beyond Inc.; Horchow; Vintage Hardware & Lighting; Olde Good Things.

Product Insights

In 2018, transitional chandeliers accounted for more than 35% of the market. They are expected to maintain their dominance in the future. A transitional chandelier's design is a mix of classic or modern. The combination of traditional and modern styles, it offers a mix of the rustic elegance of old models and modern style. It is suitable for both modern and traditional homes. It is most commonly used in dining rooms and entryways. Some of the most popular transitional chandelier types include: drum, orbs, cages, flush-mounts, drop, sputniks, bowls, and antler. The most common raw materials are nickel, bronze, steel and iron as well as brass, copper, and brass.

The modern chandelier market is expected to grow at 3.8% annually between 2019 and 2025. Its futuristic design is a result of its geometric shapes and sharp edges, which complement the digital age. It emphasizes abstract design in a geometric style. The product can be customized in many sizes and shapes. It is suitable for any room: living room, bedroom, entryway, kitchen, or bedroom. This contemporary theme is becoming increasingly popular in small spaces as well as in hallways. This type of chandelier is made from metal and bronze.

Regional Insights

With more than 30% of global revenue share, North America was the dominant market in 2018, accounting for over 30%. Regional growth is being driven by the increasing number of restaurants, hotels, shopping centers, and hotels. The United States had over 116,000 malls in 2017. These malls invest a lot of money in decorative lighting to create a warm ambiance for their visitors. Affordable electrification in all countries, including the U.S., Canada and Mexico, is also a positive influence on the adoption of luxurious lighting.

The fastest expected CAGR for the Asia Pacific region is predicted to be over the forecast period. Regional growth is being driven by the increasing number of shopping centers in developing countries like India and China. The future growth of chandeliers will be driven by a changing consumer lifestyle, as well as a growing focus on luxury interiors in commercial and residential places.

Market Share Insights & Key Companies

Companies are embracing business strategies like mergers and acquisitions in order to grow their product range and gain a competitive edge. In January 2019, Hubbell Incorporated introduced a new line of pendants and chandeliers under the brand Progress Lighting. It was designed by Jeffrey Alan Marks, an American designer. The collection features an eight-light chandelier whose elegantly outstretched arms balance form and weight. It is a combination of industrial and artisanal design. The market leader in chandeliers is:

• Beautiful Lighting

• Generation Brands LLC

• Nike, Inc.

• 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

• James R. Moder Crystal Chandelier Inc.

Up Market Research published a new report titled “Chandelier Market research report which is segmented by Application (Commercial, Residential), by Product (Transitional, Modern, Traditional), By Players/Companies Koninklijke Philips NV, Acuity Brands Lighting Inc, James R Moder Crystal Chandelier Inc , Maxim Lighting International, Generation Brands LLC, King's Chandelier Company, Elegant Lighting, Vanguard Lighting Co Ltd, HSL Worldwide Lighting Corporation, Hubbell Incorporated, Nike Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Chandelier Market Report Segments:

The market is segmented by Application (Commercial, Residential), by Product (Transitional, Modern, Traditional).

Chandelier Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Chandelier Market

Overview of the regional outlook of the Chandelier Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Chandelier Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Chandelier Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Commercial

                2. Residential

                1. Transitional

                2. Modern

                3. Traditional

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Chandelier Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Chandelier Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.