Latest News- Luxury Chandeliers Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Luxury Chandeliers Market is being driven by Evolving design concept leading to premiumization

The Luxury Chandeliers Market is expected to grow at a CAGR of 8.06% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1110.7 million. In the luxury chandeliers market, there is a growing emphasis on energy efficiency as a key differentiator. Consumers are seeking lighting solutions that not only provide aesthetic value but also offer energy savings and cost reductions in the long term. Government initiatives and environmental campaigns are driving awareness towards energy-conserving lighting products. In response, leading vendors such as Maxim Lighting, The L.D. Kichler, Feiss (a Generation Brands brand), and ACCESS LIGHTING are prioritizing the development of energy-efficient LED chandeliers. This trend will likely continue to shape the market dynamics, as both manufacturers and end-users recognize the financial and environmental benefits of energy-efficient decorative lighting. 

Get more information on Luxury Chandeliers Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• End-user
  • Residential
  • Commercial
• Geography
  • Europe
    • Germany
    • UK
  • North America
    • US
    • Canada
  • APAC
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Evolving design concept leading to premiumization
• Growing construction (both residential and commercial) and real estate industry globally
• Increase in commercial lighting (hospitality lighting and retail lighting)

However, the market also witnesses some limitations, which are as follows:

• Consumers perceived value gap in decorative lighting
• High use of alternative lighting limiting volume sales of decorative lighting such as chandeliers
• Complex handling of luxury chandeliers

Benefits of Buying Global Luxury Chandeliers Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Luxury Chandeliers Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Luxury Chandeliers market is a thriving industry, with brands like Showsun Lighting leading the way in creating stunning statement pieces for elite homes, castles, monasteries, and churches. Customization is a key trend in this market, allowing consumers to select designs that reflect their unique style and elegance. The bedroom, living room, and dining room are common spaces where customized chandeliers are used to create an atmosphere of sophistication and ambient illumination. Finishes and sizes vary, from traditional wood and wrought iron designs reminiscent of the Fourteenth century to modern, energy-efficient chandeliers with LED light bulbs. Customized chandeliers not only add to the aesthetic value of a property but also serve as a focal point, providing both functional and decorative value. Whether you prefer the classic look of candles or the sleek design of light bulbs, there's a luxury chandelier to suit every taste and space.

Market Research Overview

The luxury chandeliers market is a significant segment of the broader household durables industry, which encompasses categories such as consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. According to Technavio, the global household durables market size is determined by the combined revenue generated by manufacturers in these sectors. Factors driving the growth of the leisure products market include the expansion of health and fitness clubs, with memberships experiencing consistent growth over the past decade and the number of clubs continuing to increase due to the industry's promising prospects.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/