According to Cognitive Market Research, the global Luminaire market size was USD 75815.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 30326.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 22744.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 17437.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 3790.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1516.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The Online Retail category is the fastest growing segment of the Luminaire industry
