According to a report, “Chandelier Market Size, Share & Trends Analysis Report By Product (Traditional, Transitional, Modern), By Application (Residential, Commercial), By Distribution Channel, By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global chandelier market size is expected to reach USD 8.5 billion by 2025, registering a CAGR of 3.4%, as per a new report by Grand View Research Inc. Traction from millennials is anticipated to propel the market growth as social networking sites are incorporating extensive advertising strategies to attract the millennials.
Over
the past few years, a prominent shift in the raw material preference from
crystal to materials such as glass, metal, wood, plastic, and concrete has been
observed. Rising popularity of products prepared using a combination of raw
materials, such as metal and glass or metal and wood is expected to create
growth opportunities for manufacturers.
Transitional
chandeliers led the market by accounting for a share of over 35% in 2018.
Transitional variants are a combination of traditional and modern designs. The
product has gained enormous popularity among customers owing to innovative
designs developed by companies that beautifully blend with any type of
interior. Iron, bronze, nickel, brass, copper, and steel are the commonly used
raw materials for these products.
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Chandelier Market
Highlights
- The offline
segment led the
distribution channel and held the largest share of more than 90% in 2018.
This can be attributed to the improvements made by retailers and
department stores to cater to customer satisfaction
- In 2018, North
America dominated the regional market, with more than 30% of the
overall revenue share. This can be ascribed to the increasing number of
hotels, shopping malls, and restaurants in the U.S. and Canada
- Asia Pacific is projected to exhibit the fastest CAGR during
the forecast period, attributed to the rising investments in property
renovation. Growing popularity of Maldives, India, China, Thailand, and
Sri Lanka as tourist destinations is driving the product demand
- The market
giants have entered into strategic alliances to enhance product
innovation capabilities and stay ahead of the market competition. For
instance, in January 2019, Hubbell Incorporated launched a new
collection of chandeliers, pendants, and sconces under the brand
Progress Lighting, which is designed by American designer Jeffrey Alan
Marks
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Chandelier Market
Segmentation
Grand View Research has
segmented chandelier market on the basis of product, application, distribution
channel, and region:
Chandelier Product
Outlook (Revenue, USD Million, 2015 - 2025)
- Traditional
- Transitional
- Modern
Chandelier
Application Outlook (Revenue, USD Million, 2015 - 2025)
- Residential
- Commercial
Chandelier
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
Chandelier
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
- South Africa
List of Key
Players in Chandelier Market
- Elegant Lighting
- Generation Brands LLC
- Nike, Inc.
- 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
- James R. Moder Crystal Chandelier Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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