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A08872 | Pages: 297 | Charts: 50 | Tables: 98 |
The global kitchen lighting market size was valued at $12.6 billion in 2021, and is projected to reach $25.7 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.
A light fixture is an electric device containing an electric lamp that provides illumination which is known as kitchen lighting. Several types of kitchen lighting include pendant lighting, under-cabinet lighting, island lighting and track lighting.
Currently, traditional lighting fixtures are being replaced with smart lighting fixtures owing to the integration of Internet of Things. Kitchen lighting fixtures are illumination solutions that are created to provide customized lighting. Based on consumer requirements, some of the kitchen lighting fixtures available in the market are architectural, recessed, tracks, under cabinets, pendants, chandeliers, ceilings, wall sconces, desks, floors, and table lamps. Considering these factors, the kitchen lighting market is expected to experience gradual growth in future.
The surge in demand for under cabinet lighting fixtures in the kitchen segment and the adoption of energy-efficient kitchen ceiling lights products such as LEDs & OLEDs are some of the major factors that are expected to drive the kitchen lighting industry during the forecast period. Increasing penetration of hanging lights for kitchen and smart lighting fixtures is also expected to fuel the residential lighting fixture kitchen lighting market forecast. COVID-19 pandemic has adversely impacted the kitchen lighting market as a huge workforce of enterprises across the globe is working from home. This has led to a decline in advertising expenditure, which, in turn, reduced the demand for kitchen lighting products.
Significant factors impacting the growth of the kitchen lighting market include a rise in demand for technological advancements and innovation in kitchen lighting and increasing consumer preference towards decorative lighting. However, safety and security concerns for IoT controlled lights may hamper market growth. Furthermore, higher adoption rate of energy-efficient lights to save cost and power provides lucrative kitchen lighting market opportunity.
The kitchen lighting market analysis is segmented into product type, channel and region.
By product type, the market is classified into pendant lighting, under cabinet lighting, island lighting and track lighting. The pendant lighting segment dominated the digital holography industry, in terms of revenue in 2021, and is expected to follow the same trend during the forecast period.
[PRODUCTTYPEGRAPH]
By channel, it is divided into online and offline. The online channel dominated the kitchen lighting industry, in terms of revenue in 2021, and is expected to follow the same trend during the forecast period. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries. Asia-Pacific was the highest revenue contributor to the market.
[CHANNELGRAPH]
Competitive analysis and profiles of the key kitchen lighting market outlook market leaders include General Electric, Hubbell.Inc, Acuity Brands, Inc., Lutron Electronics Co., Inc, Osram lighting private limited, Signify Holding, Kichler lighting, Koninklijke Philips N.V., Panasonic Corporation, and Havells India Ltd. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase the kitchen lighting market share during the forecast period.
Country-wise, the China acquired a prime share in the kitchen lighting market in the Asia Pacific region and is expected to grow at a significant CAGR during the forecast period of 2019-2031.China holds major market share in terms of revenue generation from the sale of pendant lighting because of the higher presence of presence of the kitchen lighting manufacturers.
[REGIONGRAPH]
In Europe, the UK, dominated the kitchen lighting market growth, in terms of revenue, in 2021 and is expected to follow the same trend during the forecast period. However, Germany is expected to emerge as the fastest-growing country in Europe's kitchen lighting with a notable CAGR, advancement of technology across industry verticals is a crucial factor that contributes to the growth of the kitchen lighting and thus creates lucrative growth opportunities for the kitchen lighting market in Germany.
In North America, U.S. is expected to emerge as a significant market for the kitchen lighting industry, The U.S. market had the largest share in 2020 and is anticipated to hold onto that position during the projected period. Widespread product adoption has been facilitated by the presence of renowned industry leaders like GE Lighting, Acuity Brands, and Cree, Inc. The development of the building sector affects the lighting industry significantly. The installation of cost-effective lighting systems is a result of the increase in new construction projects.
By LAMEA region, the Latin America country garner significant market share in 2021 In Latin America, the rise in demand for enhanced technologies in countries, such as Dubai, Abu Dhabi, Oman, Saudi Arabia, and others, these factors are expected to reshape the growth of kitchen lighting market in the Middle East.
Key Market Segments
Key Market Players