Lighting – 5 Key Facts
Construction output grew by around a quarter between 2015 and 2019, with the residential sector and infrastructure, particularly street lighting, playing a major role in supporting lighting market growth. However, recent economic uncertainty has led to some contraction in construction output especially in the office and retail sectors.
Here are our 5 Key Facts for the Lighting Market
- The lighting market grew by just 6% over the 4 years since 2015-2019 having declined from a 2017 peak.
- The market is expected to decline 16% in 2020, with a return to growth in 2021, increasing 12% between 2020 and 2024.
- In 2015, the lighting market was dominated by sales of luminaires, which accounted for 58% of the market.
- The move towards LEDs has increased, with this technology estimated to represent 14% of lighting appliances owned by UK households.
- The non-domestic sector was estimated to account for around 69% value share in 2019.
Fiona Watts Commissioned Research Manager at AMA Research states:
“The key driver for the lighting market is the rapid adoption of LED lighting in both the non-domestic and domestic construction sectors. The advent of LED lighting, and the retrofitting of higher priced LED products into conventional lighting, boosted market value significantly between 2015 and 2017 but a sharp fall in LED prices since then has led to a decline in market size in the last two years.”