ResearchAndMarkets reports on Architectural Lighting – Global Market Trajectory & Analytics. The global market for Architectural Lighting, estimated at US$8 Million in the year 2020, is projected to reach a revised size of US$11.8 Million by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027.
Light Emitting Diode, one of the segments analyzed in the report, is projected to record a 6.1% CAGR and reach US$5.6 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the High-Intensity Discharge segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
The Architectural Lighting market in the U.S., estimated at US$2.2 Million in the year 2020. China is forecast to reach a projected market size of US$2.6 Million by the year 2027 at a CAGR of 9.4% over the analysis period 2020 – 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.6%, respectively, from 2020 – 2027. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Globally other light types segment, the USA, Canada, Japan, China and Europe, will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Million in the year 2020, will reach a projected size of US$2 Million by the close of the analysis period. China will remain among the fastest-growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Million by the year 2027, while Latin America will expand at a 6% CAGR through the analysis period.