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Chandelier Market Size, Growth, 2025 | Industry Research Report

Chandelier Market Analysis Report By Product, By Application, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619619  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global chandelier market size was accounted for USD 6.7 billion, in 2018. It is estimated to grow at a CAGR of 3.4% during the forecast period, 2019 to 2025. Chandeliers are extensively used in royal houses, large commercial space, and luxury hotels to create a grand and royal ambience. This is projected to drive the market over the forecast period. Moreover, rising number of luxury and royal homes in majority of the metro cities such as London, New York, San Francisco, Hong Kong, Los Angeles, Paris, Sydney, and Singapore is anticipated to proliferate the demand chandeliers across the globe.

Growing hospitality and tourism industry due to rising consumer expenditure is projected to boost the product demand. Decorative lighting fixtures are extensively used in luxury hotels and restaurants. They enhance the ambience, thereby, enhance consumer experience. Corporate lunches, annual events, and other such events are organized in such hotels. Therefore, these lighting fixtures play major role in enhancing consumer experience by adding professional and luxurious touch to the ambience. Huge bubble lighting, oversized crystal chandelier, giant rounded chandelier, and supernova are some of the chandeliers that have been popularly used as home décor equipment in luxury hotels and homes.

 U.S. chandelier market

Increasing number of luxury homes and hotels in developed as well as developing countries due to rapid urbanization and improving living standards is projected to propel the growth of chandelier market across the globe. As per the report by Christie’s International Real Estate, in 2017, the sales of luxury homes increased by 11%. Moreover, banks are providing home loans at lower interest rates, thereby, providing assistance to the consumers. Furthermore, improving living standards and changing lifestyles are also impacting positively on the market growth over the forecast period.

Chandeliers are gaining high popularity and are considered as a symbol of royalty and wealth. Further, they can be used for illuminating the dining space. This is projected to accelerate the product demand among the millennial population. In addition, manufacturers are focusing on enhancing consumer satisfaction by offering customized products that perfectly match to their home décor and interior design. This is anticipated to boost the product demand over the forecast period, 2019-2025.

Application Insights

In 2018, the commercial application segment accounted for the largest revenue share of more than 60% and is expected to maintain its leading position from 2019 to 2025. Rising demand for chandelier owing to its wide application in luxury hotels and commercial spaces is proliferating the chandelier market growth. Lighting fixtures such as chandeliers enhance the ambience of large commercial spaces such as restaurants, malls, hotels, pubs, wedding halls, libraries, museums, and event halls. Hence, these lighting fixtures form integral part of interior designing equipment at such commercial spaces. This is anticipated to propel the growth of this segment from 2019 to 2025.

The residential application segment is projected to grow at the fastest rate from 2019 to 2025. This growth is attributed to growing construction of luxury homes and increasing demand for luxury home décor lighting fixtures. Rising consumer expenditure on interior designing and home décor in countries such as India, U.S., China, and Germany is expected to drive the segment growth over the forecast period.

Distribution Channel Insights

In 2018, the segment of offline distribution channels accounted for the largest market share of over 90% across the global market. Rising consumer preference for departmental stores and home improvement stores coupled with availability of variety of products is expected to drive the sales of chandeliers through offline distribution channel.

The segment of online distribution channel is projected to grow at a CAGR of 4.8% over the forecast period owing to rising penetration of e-commerce platforms and growing number of internet and smartphone users. Leading online retailers across the globe for lighting fixtures and chandeliers include Shades of Light; Amazon; Lamps Plus; Lumens; The Home Depot Inc.; Lowe's Companies; Inc.; Bed Bath & Beyond Inc.; Arhaus; Olde Good Things; Horchow; and Vintage Hardware & Lighting.

Products Insights

In 2018, the segment of transitional chandelier accounted for the largest share of over 35% across the global market. Transitional chandeliers are designed by combining conventional and modern designs. Therefore, these chandeliers are highly suitable for modern as well as classic interior themes. Dining areas and entryways are mostly decorated using this product. Materials commonly used in producing such chandeliers are iron, bronze, copper, steel, nickel, and brass.

Global chandelier market

The segment of modern chandeliers is anticipated to grow at a CAGR of 3.8% over the forecast period. They are designed for modern homes and signify a theme of digital world. Sharp edges and crisp design make them suitable for entranceway, bedroom, living room, and kitchen. Generally, alloy such as bronze is used for designing such chandeliers.  

Regional Insights

North America held the largest market share of over 30% in 2018. Rising number of commercial spaces including restaurants, shopping mall, pubs, and hotels is anticipated to boost the product demand across the regional market. These chandeliers create a warm welcoming environment at such commercial spaces. Therefore, such infrastructures are specially decorated with these products. Moreover, there is ample of electricity supply across the metro cities in countries such as Mexico, Canada, and U.S. This is projected to drive the regional market over the forecast period.

Asia Pacific is projected to grow at the fastest rate from 2019 to 2025. This growth is attributed to improving lifestyles of people and increasing number of luxury home constructions in this region. Moreover, number of shopping malls in this region has increased significantly. This is also expected to impact positively on the growth of regional market.

Chandelier Market Share Insights

Leading players operating in this industry include Generation Brands LLC; Elegant Lighting; Koninklijke Philips N.V.; HSL Worldwide Lighting Corporation; Maxim Lighting International; Acuity Brands Lighting Inc.; Vanguard Lighting Co. Ltd.; Hubbell Incorporated; James R. Moder Crystal Chandelier Inc.; and King's Chandelier Company. These companies are focusing on expanding their global presence and gaining competitive advantage over other competitors by adopting strategic initiatives such as M&A and product innovation.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Germany, U.K., China, Japan, Brazil, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global chandelier market report based on product, application, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Traditional
    • Transitional
    • Modern

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Residential
    • Commercial

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)
        • South Africa

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