U.S. Lighting Products (Chandeliers, Table Lamps, Floor Lamps, Wall Sconce, Vanity Lights, Flush Mounts, Pendants, and Outdoor Lanterns) and Ceiling Fan Revenue through Retailers Is Expected To Reach USD 6,356 Million in 2016: Transparency Market Research
According to a new market report published by Transparency Market Research "U.S. Lighting Products (Chandeliers, Table Lamps, Floor Lamps, Wall Sconce, Vanity Lights, Flush Mounts, Pendants, and Outdoor Lanterns) and Ceiling Fan Market Analysis and Forecast by Retailers 2011 - 2016," the U.S. lighting products and ceiling fan market revenue through retailers was worth USD 5,505 million in 2011 and is forecasted to reach USD 6,356 million in 2016 at a CAGR of 2.9% from 2011 to 2016. The ceiling fan segment accounted for the largest share - i.e. 20.9% - of the U.S. lighting products and ceiling fan market at USD 1,155.1 million in 2011.
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The outdoor lanterns market segment will have the fastest revenue growth at a CAGR of 5.1% during 2011 - 2016. The U.S. ceiling fan products volume reached 13.5 million units in 2011 registering a growth of 1.6% over 2010.
The U.S. lighting products market encompasses a variety of products such as chandeliers, table lamps, floor lamps, wall sconce, vanity lights, flush mounts, pendants, and outdoor lanterns among many others. These products are sold through specialty stores, small retailers, electric departmental stores, discount stores, and home improvement stores. Home improvement stores such as The Home Depot and Lowe's account for majority of lighting products sales through channels.
For the purpose of this research, we analyzed eight retailers including The Home Depot, Lowe's, Target, Walmart, Bed Bath & Beyond, Sam's Club, Costco and Menards as well as nine lighting product categories, which include ceiling fans, chandeliers, table lamps, floor lamps, wall sconce, vanity lights, flush mounts, pendants, and outdoor lanterns. Among these product categories, ceiling fans were the largest segment in terms of revenue, while floor lamps were the largest product category in terms of unit sales through the listed retailers across the U.S.
The overall lighting products revenue through retailers is expected to grow at a CAGR of 2.9% from 2011 to 2016 and will reach a value of USD 6,356 million in 2016 from USD 5,505 million in 2011. Floor lamps will be the largest contributors towards the retailers' lighting products revenue in 2016 with about 20.6% share. The ceiling fan segment will be the second largest segment with about 20.1% revenue share in 2016.
The Home Depot is the largest retailer of the entire analyzed lighting product segments followed by Lowe's. In 2011, The Home Depot sold about 5.8 million ceiling fans through its 2,200 retail stores across the U.S.; most of which (about 50%) was its in-house brand, Hampton Bay. The company also sold about 4.4 million floor lamps and gathered overall revenue of USD 326.9 million in 2011.
Among all retailers, Costco is gaining popularity among the U.S. customers due to its unique customer service proposition and everyday cost-effective deals. Outdoor lanterns are the fastest growing lighting products category through these retailers, as it is gaining popularity among the people.
The report presents detailed analysis and forecast for the U.S. lighting products and ceiling fan market based on the following segmentation:
- Table lamps
- Floor lamps
- Wall sconce
- Vanity lights
- Flush mounts
- Outdoor lanterns
- The Home Depot
- Bed Bath & Beyond
- Sam's Club
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