The Kitchen Lighting Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Kitchen Lighting Global Market Report 2024, The kitchen lighting market size has grown strongly in recent years. It will grow from $12.31 billion in 2023 to $13.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to incandescent lighting dominance, aesthetic preferences, energy efficiency concerns, regulatory changes, smart lighting integration.
The kitchen lighting market size is expected to see strong growth in the next few years. It will grow to $18.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to smart home integration, health and wellness considerations, customization and personalization, sustainable and eco-friendly lighting, wireless power and charging integration. Major trends in the forecast period include innovations in fixture designs, led technology evolution, technological advancements, human-centric lighting:, integration of advanced controls.
The surge in demand for infrastructure projects in the residential sector is driving the growth of the kitchen lighting market. Infrastructure projects refer to large-scale construction or development initiatives aimed at improving or creating essential physical and organizational structures and facilities. Infrastructure projects typically involve the installation or upgrade of the foundational systems and structures that support the functioning of lighting systems in residential or commercial kitchens. For instance, in June 2021, according to the Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, construction activity increased by 3.7% in March 2021. Furthermore, the residential activity increased 4.3% in 2021 over 2020. Additionally, according to the US Census Bureau, with a growth rate of 10.2 percent, the value of construction activities climbed from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Therefore, the surge in demand for infrastructure projects in the residential sector is expected to propel the growth of the kitchen lighting market.
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The kitchen lighting market covered in this report is segmented –
1) By Product: Island Lights, Pendant Lights, Ceiling Lights, Track Lighting, Under Cabinet Lighting, Other Products
2) By Source: Fluorescent, Light Emitting Diode (LED), Organic Light Emitting Diode (OLED)
3) By Distribution Channel: Online, Offline
4) By End-User: Residential, Commercial
Top Major Players
Panasonic Corporation
Eaton Corporation PLC
Stanley Black & Decker Inc.
Signify Holding B.V.
Hubbell Inc.
Major companies operating in the kitchen lighting market are developing technologies such as the CPY500, a new canopy lighting solution, to maintain their market position. Canopy lighting solutions typically refer to specialized lighting fixtures designed for illuminating outdoor canopies or covered areas. Canopy lighting serves multiple purposes, including enhancing visibility and safety, creating an inviting atmosphere, and providing security. For instance, in October 2021, Cree Lighting, a US-based company producer of LED lighting, launched a new canopy lighting solution, the CPY500 Series. The new CPY500 Series combines an attractive, low-profile form factor, diffused optics, and an expansive 11-inch x 11-inch edge-to-edge illuminated lens design, providing a 246% larger illuminated surface area than a typical 7-inch x 7-inch canopy fixture.
The kitchen lighting market report table of contents includes:
1. Executive Summary
2. Kitchen Lighting Market Characteristics
3. Kitchen Lighting Market Trends And Strategies
4. Kitchen Lighting Market - Macro Economic Scenario
5. Global Kitchen Lighting Market Size and Growth
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32. Global Kitchen Lighting Market Competitive Benchmarking
33. Global Kitchen Lighting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Kitchen Lighting Market
35. Kitchen Lighting Market Future Outlook and Potential Analysis
36. Appendix
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