LIGHTING FIXTURE MARKET ANALYSIS
Figure 2: Global Lighting Fixtures Market (US$ Bn) Analysis and Forecast, 2018 - 2030
Global lighting fixtures market was valued at US$ 218.71 Bn in 2021 and is expected to reach US$ 513.22 Bn by 2030, growing at a CAGR of 10.1% between 2022 and 2030.
Global Lighting Fixtures Market- Impact of Coronavirus (Covid-19) Pandemic :
The covid-19 pandemic has immensely damaged the global economy. As global trade suffered due to lockdowns imposed to slow the spread of coronavirus, all businesses across the globe were shut down or operated with less manpower. This impacted the salaries and jobs of the people which resulted in salary deductions and several people lost their jobs which led to diminishing living standards. People invested less in home renovations, remodeling of offices, and commercial sector which declined demand for lighting fixtures, and hence, the global lighting fixtures market witnessed slow growth during the pandemic.
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