Posted On: 2022-05-04
Toggle luxury lighting switches acquired the largest market revenue share in France and Spain toggle luxury and porcelain lighting switches market in the year 2021 – 6Wresearch
Toggle luxury segment acquired the majority revenue size in 2021 in France and Spain toggle luxury and porcelain lighting switches market and the same trend is expected to follow in the coming years as well owing to its wider application in vintage hotels, villas & mansion as it provides the aesthetic appearance within space.
The market experienced a decline in growth during the previous period on account of the outburst of Covid-19 due to which there was a strict countrywide lockdown in both the countries which led to a rapid fall in the hospitality and manufacturing sectors of France and Spain. Additionally, the construction sector dropped by 15% to 20% due to the outbreak of coronavirus in 2020. As the toggle luxury and porcelain lighting switches market is directly related to the construction sector, thus the market witnessed an abrupt decline in the year 2020. Though, with the ease of lockdown limitations the hospitality, construction, and manufacturing sectors of the countries’ have been to normalcy post-2020.
According to 6Wresearch, France And Spain Toggle Luxury And Porcelain Lighting Switches Market revenue size is projected to grow at a CAGR of 4.3 % during 2022-2028. The market would grow in the coming years due to the rising hospitality, residential, and real estate industries in the respective countries. Furthermore, the commercial sector witnessed the highest growth rate in the toggle luxury and porcelain lighting switches market of France and Spain as a result of the increased refurbishment, reconstruction of existing palaces and hotels, and an increase in the number of new hotel construction.
According to Bhawna Singh, Research Analyst, 6Wresearch, “By countries, France emerged as a major revenue shareholder in the market in 2021 first due to the enormous number of major refurbishment and reconstruction projects underway in the country's existing hotels. France has a higher proportion of high-net-worth people (HNWIs) who own hotels, villas, and mansions. Furthermore, the increasing number of villas and mansions in the country would serve as a stimulus for the increased demand for toggle luxury and porcelain lighting switches in France in the coming years.
Some of the major companies in France and Spain toggle luxury and porcelain lighting switches market include Fontini SA, Meljac, Modelec, Llinàs BCN, FEDE S.L., ATELIER LUXUS S.P.R.L, Albrecht JUNG GmbH & Co. KG, 6ixtes switches, among others.
“France and Spain toggle luxury and porcelain lighting switches market report (2022-2028)” report provides an in-depth analysis with 39 figures and 16 tables, covered in 86 pages. The report estimates and forecast the overall France and Spain toggle luxury and porcelain lighting switches market by types and applications. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.