UK Lighting Market to Experience Modest Growth through 2021, Predicts GlobalData in Its In-Demand Report Available at MarketPublishers.com
07 Apr 2017 • by Natalie Aster
LONDON – The UK lighting market is likely to see modest growth through the next 5 years, through in the current year there will be a short-term decline in spend. This is attributed to expected decline in the country’s housing transactions for 2017-2018 and price inflation limiting spend od discretionary purchases.
The ceiling and wall lighting sector, accounting for the largest share of the overall lighting sales in the UK, is considered to have the most lucrative future growth prospects. Driven by a number of factors like strong steady demand for fashionable ceiling pendant lighting, continued shift to LED technology, and introduction and expansion of smart home lighting in the country, the ceiling and wall lighting sector is predicted to register impressive growth in the next five years.
The online channel is anticipated to be the most rapidly growing channel in the year ahead. Robust growth in this distribution channel is partially attributed to the certain problems associated with visually merchandising lighting in physical stores. An online selling platform allows to demonstrate the product through a range of room set photos, product isolation and also editorial content, which allow consumers to better visualize the product in their own home despite the absence of tangibility.
In-demand report “Lighting, 2016” elaborated by GlobalData gives in-depth insights into the UK lighting market. It contains updated market value and volume estimates, covers the market dynamics with vital details on the key factors influencing the market growth, and contains a granular analysis of the main market segments with detailed statistics for each of them. The research study covers the competitive scenario and reviews the most prominent players; discusses the hottest issues and presents all-round forecasts through 2021.
For other research studies worked out by GlobalData follow to the publisher’s online catalogue at MarketPublishers.com.