Report Code: A12080 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Decorative Lighting Market
Request Now !Decorative lighting is made out of fluorescent, incandescent, and LED, which emits bright or faded lights of different colors. The product gives a genuine and natural brilliant appearance. The lights can come in different shapes and sizes and be customized accordingly. In households, businesses and other venues, decorative lights are utilized as decorations. The rising demand for decorative lighting in the residential and commercial sectors is fueling the growth of the decorative lighting market. Manufacturing companies are coming into partnership with e-commerce giants to affiliate their sales. The advent of the pandemic marginally reduces demand and sales due to constraints on operations in the business sector. The increasing population of the consumers, the increase in high disposable revenue, the changing consumer preferences and their shifting tastes and lifestyles are crucial drivers of growth in the decorative lighting market.
COVID-19 Impact Analysis
Top Impacting Factors
Market Trends
Introduction of new products with an enhanced feature
The manufacturing companies have to invest in R&D to innovate a new product that will retain the existing customer. A new lighting technology or a change of pattern in the flickering light feature is expected to impress the consumers. Different companies are offering the same products due to the intense competition in the decorative light market. The introduction of new color combinations or dual lighting output will cause an impact on the consumer mind.
Poor quality is hindering the growth of the market
The companies are supplying inferior quality products to the consumers due to intense competition. To keep up with the competitors, the companies are using defective raw materials for processing the final products to low the market price. The low-quality dissuades users from buying decorative lights and moving on to conventional lamps or candles.
High price decorative lights are a restraint to the growth of the decorative lighting market
Some of the manufacturing companies are offering high priced decorative lighting as they are targeting high-class consumers for a business. The lower or middle-class consumers do not have an option to purchase the product due to the high price of the product. The inability of the companies to provide a mid-range product is creating a gap in demand and supply. The companies have to look for an alternative for the consumers who are unable to pay a high amount.
Key Benefits of the Report
Questions Answered in the Report
Decorative Lighting Market Report Highlights
Aspects | Details |
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By Product |
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By Lighting Technology |
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By Industry Vertical |
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By Region |
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Key Market Players | IDEAL INDUSTRIES INC, Honeywell International Inc, AB Fagerhult, General Electric Co, Generation Lighting, Bridgelux Inc, OSRAM GmbH, Acuity Brands Inc, Signify NV, Maxim Lighting International |
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