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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Kitchen Lighting Market
Request Now !Lighting fixture is an important element, which is gaining popularity amongst smart homes. A well-lit kitchen is a safer, more appealing, and more functional place. Customers have been increasingly investing in kitchen décor, owing growth in buying power. Increase in demand for dimmable or brightness-controlled lights among consumers as they can build desired atmosphere using the lights. Rise in demand for energy-efficient products is expected to fuel the market growth during the forecast period. Increasingly energy efficient and economical lighting fixtures replace traditional lighting devices. In addition, introduction of Internet of Things (IoT) has increased visibility of products among millennial consumers.
COVID-19 scenario Analysis:Â
Rapid urbanization in emerging economies, including China, India, and Brazil and rising income levels and changing consumer lifestyles is expected to create opportunities for residential kitchen lighting market growth in the coming years. Additionally, the availability of cost-effective and attractive lights is projected to fuel demand for the market.
Growth in expenditure on home décor is expected to boost the market
Growing expenditure on home decor assisted by rising consumer buying power is a key driver of kitchen lighting market growth. In addition, chandelier lights have gained considerable reputation in the decoration of living rooms, as they provide attractive and elegant look. Similarly, rising preference for pendant lights to enhance the appearance and brightness of the kitchen and dining rooms is expected to fuel further growth in the segment.
The major factor driving the adoption of these distribution channels is the provision of detailed instructions about installation by the product specialists. The availability of the compatible lighting fixture accessories has also attracted consumers to buy from the offline distribution channel.
In the home appliance sector, rapid growth in e-commerce has improved the online product sales. The U.S. has highest e-commerce penetration. However, in Asia Pacific countries such as India and China, e-commerce in lighting fixtures is growing rapidly.
The LED and OLED bulbs are highly energy efficient and durable. Such products use less power than incandescent lights up to 90 percent. Consumers have consequently increasingly replaced incandescent lights with LED lights. The governments have implemented regulations in several countries on the discontinuation and consumption of incandescent bulb production. As a result, the incandescent segment is expected to fall out in the years ahead.
Increased use of LED lights to replace the existing incandescent lights has broadened the manufacturers' chance. Over the past few years, the manufacturers have expanded their portfolio of LED products by innovating new fixtures and by acquiring existing companies to meet the increasing demand. North America is another leading regional LED lighting sector, and is expected to see phenomenal growth in the near future, which also create lucrative opportunities for kitchen lighting market. Regulation on an energy-efficient product and high disposal revenue will help drive demand for architectural application LED lighting. The US is expected to be one of the lucrative markets for the manufacture of LED lighting.
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