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Global Chandelier Market 2021: By Product (Traditional, Transitional, Modern), By Application (Residential, Commercial), By Distribution Channel (Offline, Online)Global Chandelier Market Insights, Revenues, Growth Rate, Trends, Product Types, End-use Applications, Market Forecast from 2020 to 2029” is the title of an upcoming report tracked and produced by the research team at Trusted Business Insights. The report is an outcome of exhaustive research and interviews conducted by the analysts. The report focuses on the global market growth driving factors, challenges, trends, and opportunities. The report also provides PEST analysis, Porters Five Forces analysis, value chain analysis, and other additional information to offer holistic view of the report. Company profiles section includes details of the prominent companies engaged in chandelier manufacturing business. The Global Chandelier market size was valued at USD $5.86 Billion in 2020, USD $6 Billion in 2021, forecasted to reach USD $6.14 Billion in 2022, and is projected to reach USD $7.36 Billion by 2030, and is anticipated to expand at a CAGR of 2.3% over the forecast period from 2020 to 2030.
Chandelier: OverviewChandeliers are one of the Home Décor products, widely adopted for application in households, hotels, closed lawns, among other places. Chandeliers are decorative lighting hanged on the ceiling in the center, and represent status, glamour, and class. Originally, chandeliers were only popular among high class people; however, these products are gaining popularity among large number of population owing to its feature to enhance ambiance of the place. Several hotels prefer chandelier to be fixed in the reception area. These products are available in different shapes, and sizes.
Drivers, Restraints, and Trends: Global Chandelier MarketInclining number of luxury hotels, and other commercial places such as restaurants, malls, party halls, etc. is a major factor expected to augment demand for chandeliers and in turn drive growth of the global chandelier market. In addition, increasing preference for chandeliers as home décor and rising income levels among individuals is another factor projected to support growth of the global chandelier market. The main purpose of fixing chandelier is to enhance ambiance of the place or room. Increasing number of corporate parties, annual functions and official meetings is also expected to have a positive impact on growth of the target market. Chandeliers are also used in several religious places, especially in developing countries, which is another factor projected to support growth of the global market. Furthermore, availability of the product in various shapes, sizes, and colors is another factor resulting in higher adoption of chandeliers for application in small houses or in bedrooms. In commercial offices, small-sized chandeliers are fixed in reception area or in cabins. The aforementioned factors are expected to drive market growth.
Segment Analysis: Global Chandelier Market Analysis, by Product:The transitional segment is expected to record largest share in terms of revenue, and is projected to continue with its dominance over the 10-year forecast period. The transitional chandelier is designed and developed using a combination of both, traditional and modern, aspects. It portrays blend of traditional with modern style chandeliers such as elegance, classic style, yet modern and stylish. This feature of transitional chandeliers makes it suitable for commercial setups, as well as for traditional and modern homes, and are mostly used in dining rooms, and entryways or reception areas. The modern product type segment is projected to register highest CAGR over the 10-year forecast period. The modern chandeliers enhance appearance of the room due to its geometric shapes and abstract designs. In addition, modern product types are available in a variety of range with different frames and shapes which makes it suitable for entranceways, living rooms, bedrooms, as well as kitchens. Modern chandeliers with contemporary theme are also gaining popularity for application in small rooms and hallways.
Region Analysis: Global Chandelier MarketNorth America chandeliers market is expected to dominate in the global market, and is projected to contribute highest revenue share over the next 10 years. Increasing construction industry, rising number of luxury homes, especially in metropolitan cities in the region is among the major factors driving North America market growth. The Europe market is projected to contribute moderately high revenue share in the market owing to higher adoption of chandeliers among individuals of high class society as it symbolizes class and status. The Asia Pacific market is projected to register highest growth rate over the next 10 years due to increasing inclination towards home décor products, and interior designing, coupled with rising income levels among individuals in the countries in Asia Pacific.
Below are the leading companies profiled in this Chandelier Market Report:
Chapter 1 Methodology and Scope