Chandeliers are decorative hanging light fixtures, which have branches for lights and can be mounted on ceilings or walls. Chandeliers have been used since medieval times and the light source used in these primitive stages of chandeliers were candles, which are now replaced by different types of bulbs. Chandeliers are used to uplift the look of a particular space by adding elegance and light. These lighting fixtures are often associated with luxurious living and are mostly found in wealthy and royal houses, luxury and business hotels, and other commercial places. During its inception, chandeliers were often highly priced; however, with advancement in technology and designing, simple chandeliers designs at affordable prices have been introduced in the market. Nonetheless, the traditional or classic chandeliers are still highly priced. The association of chandeliers with luxury is majorly due to their rich and elegant look with intricate designs, fine material quality, and their history which suggests their installation in royal households. The traditional intricate designs consists of flowers, fruits, and leaves designed in crystal or glass, often covered with metal frames. However, modern day chandeliers have abstract designs, and are sometimes personalized to match the other furniture, with blends of different materials.
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The chandelier market is projected to expand at a significant growth rate during the forecast period. The rising disposable incomes, changing lifestyles, and innovative chandelier designs by manufacturers are the factors driving the growth of this market. Additionally, consumers also have a rising trend to use energy efficient lights, which are long lasting and also cut down on the utility bills. This trend is considered to be the major factor leading to the increase in demand for chandeliers. However, technical difficulties in its installation and high investment costs act as a restraint toward growth of the market. Moreover, lack of availability of parts and specialized lights after damage also hinders the growth of the global chandelier market. In order to overcome the cost constraint of chandeliers, manufacturers are focusing on developing products at cost competitive prices.
The global chandelier market is segmented by type, category, material, end use, distribution channel, and region. The chandelier market is divided into three types: classical, modern, and transitional. By category type, the market is segmented by the lighting direction namely uplight, downlight, cluster, and pendant. Based on material, the market is segmented into crystal, glass & colored glass, wood, metal, and others such as brass, fabric etc. By end use, the chandelier market is divided into residential and commercial which can be further classified into offices, hotels & restaurants, and others such as malls, hospitals etc. In terms of distribution channel, chandeliers are available online such as on e-commerce websites and brand websites and also available offline in department stores, hypermarkets, and specialty stores.
The chandelier market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America on the basis of region. Chandeliers are more commonly used in the commercial sector than in residential ones, due to the high cost of installation as well as maintenance of the products and also because of the availability of large spaces. However, development in modern designs and less expensive products has increased the demand for chandeliers in residential spaces. Furthermore, the increasing trend of luxurious living and energy saving products has also added to the growth of the chandelier market in residential places. Some of the other minor variations in chandeliers are with switch type, such as direct switch or with dimmers, by hanging method which are direct or chain hanging, and by the different finishes to different materials. For instance, satin or seeded finish for glass and brushed, matte, or oil rubbed for metal.
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Some of the major key players of the chandelier market include Elegant Lighting, FEISS, Inc., JiangMen Jimmy Lighting CO.,LTD, Zhongshan Fusida Lighting Co., Ltd., D.M. LUCE SRL, Kenroy Home, Gemini Cut Glass Company, Inc., KURT FAUSTIG KG., American Brass & Crystal, SavoyHouse.com., Dolan Designs., Myran Allan Luxury Lighting, and others. Most of these leading companies have some operations based in China due to the advanced technologies and easy availability of raw materials in the country. The leading chandelier manufacturing companies are majorly focusing on developing modern designs with energy saving technologies as per the demands of global consumers.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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