Stage and Studio Lighting Market Size, Share, Growth, and Industry Growth by Type (Thermal Radiation Source, Discharge Light Source, Electroluminescent Light) By Application (Entertainment Venues, Concerts, KTV package room and Dance Halls), Regional Forecast To 2031

Updated On: 17 June 2024

Stage and Studio Lighting Market REPORT OVERVIEW

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The global stage and studio lighting market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Stage lighting is the type of lighting required to illuminate a stage, and it is an effective tool for all types of events. It can be utilized to draw more attention to your event and to highlight attendees, stage backdrops, and other items. Intelligent lighting systems and other technological developments are also anticipated to support industry expansion. The app-connected smart light is frequently utilized in bars and during festivals. On the other hand, these lighting systems' greater installation costs are preventing their widespread use. strict laws for the lighting sector, like the Energy Star Program.

COVID-19 Impact: A Different Set of Laws and Regulations to Support the Market Growth

Market expansion has been impeded by the COVID-19 outbreak, which prompted lockdowns and curfews. Yet, the need for surgical and examination facilities as well as the building of temporary hospitals would undoubtedly raise demand for medical lighting. Sales of well-known home appliance brands, however, soared in the period following the lockdown, helped by e-commerce. Nevertheless, the lockdown hindered supply chains and caused the production facilities to halt, which caused the industry to suffer. The effect is just temporary, though, and businesses are getting ready to rebound with increased stage and studio lighting market sales in the near future. 

LATEST TRENDS

"Nightclubs, Bars, and Restaurant Bars are Becoming More Popular to Spur Market Expansion"

Bars and pubs are becoming more and more popular as a result of the constantly shifting trends in people's lifestyles and behavior. Because of the expanding BPO and IT industries abroad, consumer lifestyle is changing. These factors have increased discretionary cash, which the younger population is willing to spend on entertainment and leisure activities and frequents pubs, nightclubs, and restaurants. The market for stage and studio lighting is significantly impacted by the nightclub industry's economic activity.

Stage and Studio Lighting Market Segmentation

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• By Type Analysis

By type, the stage and studio lighting market are segmented into thermal radiation source, discharge light source, electroluminescent light.  

The thermal radiation source type segment will dominate the stage and studio lighting market in the coming years.

• By Application Analysis

Based on applications, the stage and studio lighting market are entertainment venues, concerts, KTV package room and dance halls.

The entertainment venues segment will lead the global share through 2031.  

DRIVING FACTORS

"Demand for Technically Advanced Goods Will Rise, Increasing Market Growth "

The market for stage and studio lighting is driven by technologically advanced goods, and a number of new features have entered the value chain. Due to ongoing innovation and quality enhancements, a wide variety of products are having an impact on the industry. This business has been heavily influenced by technology, from old-fashioned bulbs to contemporary sophisticated wireless light controllers. By utilizing the range of color possibilities in the basket and improving the safety of the theatre or stage where the product is to be utilized, these cutting-edge items assist consumers in reducing their operational costs. Integrating all of these characteristics improves the end-users' overall experience in the stage and studio lighting market. 

"Programmable LED Light in Innovations to Expand the Market "

In the near future, it is anticipated that the demand for specialty lighting for wireless lighting displays and LED lights in the events industry would significantly drive the market. Also, it is projected that the business events would create a substantial amount of expansion potential by driving up demand for LED display panels. Moreover, creative concepts like LED light effects combined with fog machines are projected to increase demand for the product. Another important component that can promote the industry's growth during the assessment period is the integration of loT systems.

RESTRAINING FACTORS

"Pricing Volatility for Raw Materials will Impede Market Expansion  "

The market for stage lighting fixtures and control solutions' total cost of manufacturing is dominated by the cost of raw materials. Major raw materials including steel, aluminum, plastic, and rubber, which are utilized to make stage lighting equipment and control solutions, have seen significant price increases in recent years. The stage lighting market's vendor profit margins are adversely threatened by the erratic pricing of raw materials. These constraints place a pressure on manufacturers that work hard to create cost-effective stage and studio lighting solutions in order to compete in the market.

Stage and Studio Lighting Market REGIONAL INSIGHTS

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"North American to Grow at the Highest Stage and Studio Lighting Market Share During the Forecast Period "

The market for stage and studio lighting worldwide was dominated by North America. Stage lighting fixtures continue to have the highest market penetration of all time. The high purchasing power of millennials and baby boomers, rising attendance at music festivals, rising smartphone use, propensity for new technology, and high urbanization are factors that are propelling industry expansion in North America. determined by how well-liked musical acts, events, and concerts are with people. The market for stage and studio lighting is predicted to expand significantly in the area due to the expansion of entertainment venues and rising disposable incomes among the middle-class population. 

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio. 

List of Market Players Profiled

• Robe (UK.)
• Martin (U.S.)
• Chauvet (U.S.)
• ADJ Group(U.S.)
• Toshiba (Japan)
• Stadio due (Italy)
• ETC (U.S.)
• Visage (India)
• SGM (U.S.)
• Yajiang Photoelectric (China)
• PR Lighting (China)
• Golden Sea (U.S.)
• Fine Art Light (U.S.)
• ACME (U.S.)
• Colorful light (U.S.)
• Hi-LTTE (Sri Lanka)
• Guangzhou Ever Famous Electronic (China)
• TOPLED Lighting Electronics (China)
• Grand Plan (Japan)
• GTD Lighting (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services, or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes several other factors that have contributed to recent stage and studio lighting market growth in some regions.