South Korea Architectural Lighting Market Size & Outlook
South Korea architectural lighting market, 2018-2030 (US$M)
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South Korea architectural lighting market highlights
- The South Korea architectural lighting market generated a revenue of USD 365.4 million in 2023 and is expected to reach USD 746.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.7% from 2024 to 2030.
- In terms of segment, ballasts was the largest revenue generating component in 2023.
- Lamps is the most lucrative component segment registering the fastest growth during the forecast period.
Architectural lighting market data book summary
| Market revenue in 2023 | USD 365.4 million |
| Market revenue in 2030 | USD 746.4 million |
| Growth rate | 10.7% (CAGR from 2023 to 2030) |
| Largest segment | Ballasts |
| Fastest growing segment | Lamps |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lamp Holders, Ballasts, Lamps, Lenses/Shades, Trims, Wiring, Reflectors |
| Key market players worldwide | Acuity Brands Inc, GE Aerospace, Hubbell Inc, Ams-OSRAM AG, Panasonic Holdings Corp, Signify NV, Zumtobel Group AG ADR, Feilo Sylvania, Seoul Semiconductor, Cree Lighting, Delta Light, GVA Lighting, Siteco, TCP Lighting |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.8% of the global architectural lighting market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China architectural lighting market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 374.7 million by 2030.
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Architectural Lighting Market Scope
Architectural Lighting Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea architectural lighting market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to architectural lighting market will help companies and investors design strategic landscapes.
Ballasts was the largest segment with a revenue share of 20.09% in 2023. Horizon Databook has segmented the South Korea architectural lighting market based on lamp holders, ballasts, lamps, lenses/shades, trims, wiring, reflectors covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea's urbanization initiatives, particularly the development of smart cities and infrastructure upgrades, have driven the demand for architectural lighting in the country. New construction projects and urban redevelopment initiatives have emerged as opportunities for the adoption of innovative lighting solutions.
Energy-saving lighting solutions such as LED lighting and lighting monitors are in high demand to reduce energy consumption and operational expenses. Moreover, the integration of smart lighting systems has increased in the country as these systems provide remote monitoring, automation, and energy management, making them essential for smart building and city initiatives.
Technological breakthroughs such as color-tunable lighting and IoT-enabled systems have been integrated into South Korean architectural lighting solutions to improve utility and engagement.
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Target buyers of South Korea architectural lighting market databook
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Our clientele includes a mix of architectural lighting market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea architectural lighting market , including forecasts for subscribers. This country databook contains high-level insights into South Korea architectural lighting market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea architectural lighting market size, by component, 2018-2030 (US$M)
South Korea Architectural Lighting Market Outlook Share, 2023 & 2030 (US$M)
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