Kitchen lighting market
Allied Market Research has published a report titled, “Kitchen Lighting Market – By Product Type (Pendant Lighting, Under Cabinet Lighting, Island Lighting, Track Lighting), By Channel (Offline, Online): Global Opportunity Analysis and Industry Forecast, 2022-2031.” The kitchen lighting market size was valued at $12.6 billion in 2021 and is projected to reach $25.7 billion in 2031, growing at a CAGR of 7.7% from 2022 to 2031.
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The key drivers of the kitchen lighting industry include rising adoption rate of pendant lighting, hanging lighting for kitchens, kitchen ceiling lighting for advertising and events, and surge in demand for infrastructure projects in the residential sector. These factors are expected to accelerate the growth of the kitchen lighting market rapidly during the forecast period. However, safety and security concerns over IoT controlled lighting act as a major barrier to the growth of the kitchen lighting market trend. In contrast, the adoption of under-cabinet lighting in premium kitchens creates lucrative opportunities for market growth in the lighting sector during the forecast period.
Falling costs of Light Emitting Diodes (LEDs) and changes in global energy policies are driving the market growth of kitchen lighting. LEDs are more reliable, efficient, and have a longer life span compared to other LEDs. They are cost-effective and provide around 50,000 hours of illumination with low power consumption. Customers prefer LED kitchen lighting over incandescent bulbs due to their lower cost and lower heat dissipation. However, increasing investments by governments in smart cities, smart transportation, and smart industries, and application of numerous smart technologies in various applications have driven the strong growth of the kitchen lighting market during the analysis period.
The pendant lighting segment contributed the most to the kitchen lighting market analysis in 2021 as it reflects light on the ceiling and walls, brightening the entire room. Pendant lighting makes a room feel larger and brighter while creating an inviting ambience. The under-cabinet lighting segment held a major share of the market in 2021, owing to the increasing availability of cost-effective and attractive lighting.
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The need for innovative lighting solutions is driven largely by changing consumer preferences and the evolution of the kitchen area. Beyond being a practical facility for cooking, the kitchen has evolved into a multi-purpose room where family members gather and socialize. Homeowners are increasingly looking for lighting options that not only provide adequate lighting for cooking and food preparation, but also create a cozy and welcoming atmosphere for entertaining guests. This changing preference has resulted in a growing demand for adaptable and personalized kitchen lighting fixtures that offer multiple color temperatures, brightness levels, and dimming options to suit different events and moods.
The kitchen lighting market is heavily influenced by the incredible advancements in lighting technology. Energy-efficient LED lighting has completely changed the market by offering a durable, economical, and environmentally-conscious option. The versatility and miniaturization of LED technology not only enables new design options, but also reduces energy usage and power costs. Additionally, incorporating smart lighting systems into kitchens is becoming more popular as they allow homeowners to automate and manage their kitchen lighting using voice assistants or smartphones.
The COVID-19 outbreak significantly affected the growth of the global kitchen lighting sector in 2020, as it had a significant impact on the key companies operating in the supply chain. On the contrary, the market was hit by several obstacles amid the COVID-19 pandemic, mainly due to the shortage of skilled labor, as well as delays and cancellations of projects due to partial or complete lockdowns worldwide.
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From a country perspective, China holds a major share of the global kitchen lighting market due to the presence of key players. Major organizations and government agencies in the country are focusing their resources on global kitchen lighting, and these key sectors are strengthening the growth of the kitchen lighting market in this region.
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โข The pendant lighting segment accounted for the largest revenue in 2021, and is projected to grow at a notable CAGR during the forecast period.
โข China held a major share in the kitchen lighting market, accounting for the highest revenue share in 2021.
Key players profiled in the report include General Electric and Hubbell.Inc., Acuity Brands, Inc., Lutron Electronics Co., Inc, Osram lighting private limited, Signify Holding, Kichler lighting, Koninklijke Philips NV, Panasonic Corporation, and Havells India Ltd. These key players are adopting several strategies such as new product launches and developments, acquisitions, partnerships and collaborations, and business expansion to expand their kitchen lighting market share during the forecast period.
About ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐: https://www.alliedmarketresearch.com/purchase-enquiry/A08872
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Allied Market Research is a leading provider of market intelligence with reports from leading technology publishers. The detailed market assessment in our research reports takes into account the key technological advancements in this field. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and proactively advise leading companies to enhance their current procedures. Our experts have extensive knowledge of the topics covered. Also, we use various tools and techniques for data collection and analysis, including patented data sources.
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