According to our latest market study on "Kitchen Lighting Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Source, Product, and Geography," the market is expected to grow from US$ 17,058.05 million in 2021 to reach US$ 30,707.36 million by 2028; it is anticipated to grow at a CAGR of 8.8% from 2021 to 2028.

Lighting is a critical component that is becoming more prominent in smart homes. A well-lit kitchen provides a more secure, pleasant, and functional environment. Customers have been progressively spending on kitchen décor because of their increased purchasing power. Consumer demand for dimmable or brightness-controlled lighting increases as they can use lights to create the desired ambiance. Further, an increase in demand for energy-efficient goods is driving market growth. Moreover, the internet of things (IoT) development has enhanced product visibility among younger customers, thereby increasing the market demand.

Further, efficient lighting is increasing due to its benefits, such as longer shelf life and better energy savings. Energy-efficient lighting has the lowest life-cycle cost as it minimizes peak loads, lowers customer bills, and reduces mercury and material volume. As a result, there is an increase in the usage of light-emitting diodes for improved efficiency. LED lighting is energy efficient, which increases its acceptance in many sectors, favorably boosting growth and demand and driving the kitchen lighting market growth.

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Impact of COVID-19 Pandemic on Global Kitchen Lighting Market

During the COVID-19 pandemic, new projects worldwide had come to a halt, resulting in a drop in demand for analog semiconductors. As workers stayed at home, multinational manufacturers struggled to incorporate modern kitchen lighting, causing supply chains to be interrupted. Further, production, supply chains, and demand for kitchen lighting will progressively improve as the situation improves. The COVID-19 pandemic lockdown would encourage businesses to choose more sophisticated kitchen lighting to improve efficiency. Further, increased residential building development, a robust supply chain system, and government support contribute to the industry's success. In 2020, the COVID-19 pandemic negatively influenced the kitchen lighting industry's size. The pandemic had prompted the majority of countries to go into lockdown mode. The travel restriction also harmed the market's supply chain and logistical systems. Due to the suppliers' inability to provide parts to manufacturers/assemblers, the product's arrival on the market was delayed. However, the COVID-19 pandemic had severely influenced the global kitchen lighting business.

Key Findings of Study:

The global kitchen lighting market is segmented on the basis of type, source, product, and geography. On the basis of type, the Kitchen Lighting Market is segmented into general kitchen lighting, task kitchen lighting, and decorative kitchen lighting. In 2020, the general kitchen lighting segment held the largest market share. On the basis of source, the Kitchen Lighting Market is segmented into fluorescent, LED, and OLED. In 2020, the LED and OLED segment accounted for the largest market share. On the basis of product, the Kitchen Lighting Market is segmented into island lights, pendant lights, ceiling lights, chandeliers, track lighting, under cabinet lighting, and others. In 2020, the ceiling lights segment accounted for the largest market share. Geographically, the kitchen lighting market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global Kitchen Lighting market.

Panasonic Corporation; Signify Holding; ACUITY BRANDS LIGHTING, INC; OSRAM GmbH; and Hubbell – are Prominent Market Participants in Kitchen lighting Market

Increasing proliferation of LEDs in kitchen lighting, and an increase in the number of residential construction projects are all contributing to the growth of the kitchen lighting market worldwide. A boom in interest in home repair and remodeling activities, particularly in urban countries, boosts demand for kitchen lighting. Furthermore, consumers' tendency to spend on interiors has drawn their attention to home furnishing items such as carpets, rugs, and modern and stylish lighting systems. This shift in focus is supported by rising income levels, changing lifestyles, and new interior designs.

With the continuously growing access to the internet in many regions, the e-commerce industry is flourishing rapidly. Although the US has the largest e-commerce business, the e-commerce for lighting fixtures is expanding at a high pace in India and China. Wholesalers control the majority of global e-commerce sales. Rexel operates dozens of e-commerce sites throughout North America, Europe, and Asia-Pacific. E-tailers, including the global e-commerce platforms such as Amazon and Alibaba; specialized lighting websites such as Lampenwelt; and furniture websites are the fastest expanding segments of the e-commerce business. Manufacturers, distributors, and retailers are experimenting with new ways for making online sales while maintaining a consistent and personalized client experience.

The kitchen lighting market is segmented on the basis of type, source, product, and geography. Based on type, the market is segmented into general kitchen lighting, task kitchen lighting, and decorative kitchen lighting. Based on source, the market is segmented into fluorescent, LED, and OLED. On the basis of product, the kitchen lighting market is segmented into island lights, pendant lights, ceiling lights, chandeliers, track lighting, under cabinet lighting, and others. In terms of geography, the market is primarily divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

The top five companies in the market are Panasonic Corporation; Signify Holding; ACUITY BRANDS LIGHTING, INC; OSRAM GmbH; and Hubbell. The above listing of key players is derived by considering multiple factors such as overall revenue, current kitchen lighting portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below:   

2022    Hilti and Trackunit Announce Strategic Partnership to Effectively Eliminate Downtime. Hilti and Trackunit have formed a partnership to advance digital transformation in the construction industry focused on bringing global scale to the tool and equipment connectivity domain. It will also enable Trackunit for expansion in their telematics connectivity devices.

2022    Stoneridge and Valens Semiconductor Announce their Partnership. Stoneridge and Valens semiconductor are both industry giants, as now they have formed partnerships for enhancing Tractor-Trailer Safety Through Advanced Connectivity and Vision Solutions.

2020    Omnitracs acquires VisTracks for expansion in telematics SMB market. The acquisition of VisTracks is made so that Omnitracs can expand its reach amongst small and medium business markets by adding the VisTracks reseller community. In this acquisition, Omnitracs added approximately 60,000 vehicles onto the Omnitracs One platform and an increasing 30 telematics supported devices.

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