Global lighting industry is a vast industry which is comprised of different markets and includes commercial and institutional, outdoor, residential (indoor), industrial, vehicular as well other lighting markets. It is largely affected by the rise and fall of the prices of materials which are required like steel, aluminum, glass, etc. Infact, the volatility of these markets is responsible for the pricing of lighting equipment and accessories.
As per the recent study conducted on the lighting industry, by 2010 the global lighting industry for industrial, commercial, residential and public lighting is expected to exceed US$94 billion. Europe is till date is the biggest market and is projected to cross US$23.5 billion by 2009 while the Asia-Pacific region is poised to post the fastest compounded annual growth rate at 6.5%. out of these, China will stand out as the largest producer of outdoor lighting fixtures in the global lighting industry.
It is estimated that the worldwide requirement for electric lighting equipment will increase to an approx 5% per year. While, the most paced growth in demand is anticipated in the industrializing areas such as the Asia/Pacific region, Eastern Europe and the Africa/ Mideast region due to the rise of building construction activity and rapid industrialization. This will definitely create more opportunities for lighting equipment.
