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 Radiant Insights, 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 decor, 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.
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.
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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.
Further key findings from the report suggest:
• 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.
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR's Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Chandeliers Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Chandeliers Market
3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Chandeliers Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2018 & 2025
5.2. Traditional
5.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.3. Transitional
5.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.4. Modern
5.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Continued…
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Market Analysis and Insights: Global Chandelier MarketChandelier Market By Product (Traditional, Transitional, Modern), Application (Residential, Commercial), Lighting Direction (Uplight, Downlight, Cluster, Pendant), Material (Crystal, Glass & Coloured Glass, Wood, Metal, Others), Distribution Channel (Offline, Online), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2027.Global chandelier market is expected to register a steady CAGR of 3.5% in the forecast period of 2020-2027.
This report contains the data of base year 2019 and historic year 2018.This rise in market value can be attributed to the benefits of chandelier to improve the ambience in the surroundings, bringing a touch of luxury in the places where they are organised.If you are an investor/shareholder in Chandelier Market, the provided study will help you to understand the growth model Chandelier Market after the impact of COVID-19.
Request for sample report@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-chandelier-marketMarket Definition: Global Chandelier MarketChandelier is a decorative hanging light which include several branches of lights and candles.
It is used in luxury hotels, royal houses, big commercial places and among others to enhance the ambience of the place.
They are usually installed in halls, living rooms due to their big size.
They are being modernized with LED and with some refractive crystal prisms and small mirrors.Competitive Analysis:Global chandelier market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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