Kitchen Lighting Global Market Report 2024

Effective kitchen lighting is a crucial element in both the practical functionality and aesthetic appeal of kitchen design. It plays a dual role by facilitating visibility and productivity in the kitchen while also enhancing the overall ambiance and style of the space.

The primary components of kitchen lighting include island lights, pendant lights, ceiling lights, track lighting, under-cabinet lighting, and other related products. Island lights specifically refer to fixtures designed to hang over a kitchen island or similar surfaces. These lighting products utilize various sources such as fluorescent lights, light-emitting diodes (LEDs), and organic light-emitting diodes (OLEDs), which are made available through both online and offline channels for residential and commercial users.

The kitchen lighting market research report is one of a series of new reports from The Business Research Company that provides kitchen lighting market statistics, including kitchen lighting industry global market size, regional shares, competitors with kitchen lighting market share, detailed kitchen lighting market segments, market trends, and opportunities, and any further data you may need to thrive in the kitchen lighting industry. This kitchen lighting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 observed in the historical period can be ascribed to the dominance of incandescent lighting, preferences for aesthetic appeal, concerns regarding energy efficiency, regulatory changes, and the integration of smart lighting technologies.

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 anticipated growth in the forecast period is linked to factors such as the integration of smart home technologies, considerations for health and wellness, increased demand for customization and personalization, a focus on sustainable and eco-friendly lighting solutions, and the integration of wireless power and charging capabilities. Notable trends expected in the forecast period encompass innovations in fixture designs, the evolution of LED technology, ongoing technological advancements, the rise of human-centric lighting, and the integration of advanced controls.

The increasing demand for infrastructure projects in the residential sector is fueling the expansion of the kitchen lighting market. Infrastructure projects encompass large-scale construction or development initiatives designed to enhance or establish essential physical and organizational structures and facilities. These projects typically entail the installation or enhancement of foundational systems and structures that support the operation of lighting systems in residential or commercial kitchens. As an example, in June 2021, data from Stats NZ Tatauranga Aotearoa, a government data agency in New Zealand, indicated a 3.7% increase in construction activity in March 2021. Moreover, residential activity saw a 4.3% rise in 2021 compared to 2020. Additionally, based on information from the US Census Bureau, the value of construction activities experienced a growth rate of 10.2%, climbing from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Consequently, the heightened demand for infrastructure projects in the residential sector is anticipated to drive the growth of the kitchen lighting market.

The rise of smart homes is propelling the expansion of the kitchen lighting market. A smart home denotes a dwelling equipped with a variety of internet-connected devices, appliances, and systems that can be monitored, controlled, and automated remotely. Kitchen lighting plays a pivotal role in smart homes, contributing to improved efficiency, energy conservation, and personalized ambiance. With integration into smart lighting systems, kitchen lights can be controlled and automated from a distance, enabling users to adjust brightness, color temperature, and on/off settings. As an example, in October 2023, Netguru S.A., a Poland-based software development company, disclosed that 63.43 million households in the United States actively use smart home devices in 2023, representing a 10.2% increase from 2022. Consequently, the emergence of smart homes is anticipated to drive the growth of the kitchen lighting market.

The growth of the kitchen lighting market is expected to be hampered by high budget requirements. The elevated budget implications may discourage individuals from investing in advanced or innovative kitchen lighting solutions, impacting overall market growth and accessibility. As an illustration, in 2023, Kitchen & Bath Shop, a US-based retail company, reported that kitchen lighting costs vary from $500 to $2,500. This includes recessed lights priced at $100-$200 each, pendants ranging from $50-$500 plus hanging, under-cabinet options from $20-$150, and chandeliers from $100-$10,000 excluding installation. Consequently, the market is facing constraints due to these high budget requirements.

Major companies in the kitchen lighting market are investing in technological advancements, such as the CPY500, a new canopy lighting solution. Canopy lighting solutions are specialized fixtures designed for illuminating outdoor canopies or covered areas, serving multiple purposes, including enhancing visibility, safety, creating an inviting atmosphere, and providing security. For instance, in October 2021, Cree Lighting, a US-based LED lighting producer, introduced the CPY500 Series, a new canopy lighting solution featuring an attractive, low-profile form factor, diffused optics, and an expansive 11-inch x 11-inch edge-to-edge illuminated lens design. This design offers a 246% larger illuminated surface area than a typical 7-inch x 7-inch canopy fixture.

In June 2023, Elk Home, a US-based company specializing in lighting, furniture, and home decor products, acquired Norwell Lightning for an undisclosed amount. This strategic acquisition allowed Elk Home to expand its product line and enhance its lighting selection by incorporating Norwell's interior and exterior lighting designs-two areas where Elk Home has consistently experienced growth. Norwell Lightning, a US-based manufacturer, is known for producing high-quality indoor and outdoor light fixtures.

Major companies operating in the kitchen lighting market report are Panasonic Corporation, Eaton Corporation PLC, Stanley Black & Decker Inc., Signify Holding B.V., Hubbell Inc., Acuity Brands Inc., Osram Lighting Private Limited, Havells India Ltd., Cree Lighting USA LLC, Lutron Electronics Co. Inc., Sea Gull Lighting, Hafele Gmbh & Co., Craftmade International Inc., L.D. Kichler Co. Inc., Wangs Alliance Corporation, Quoizel Inc., GE Lighting, Tech Lighting LLC, Progress Lighting, ELK Group International, LEDiL, Hinkley Lighting Inc., Csl Lighting Inc., Maxim Lighting International Inc., Lighting New York, Feiss Lighting

North America was the largest region in the kitchen lighting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the kitchen lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the kitchen lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The kitchen lighting market includes revenues earned by entities by providing kitchen lighting services such as consultation and planning, testing and adjustments, consider energy efficiency services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The kitchen lighting market consists of sales of smart lighting, cabinet lighting, and under-cabinet lighting used in providing kitchen lighting services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Kitchen Lighting Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on kitchen lighting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

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• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
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• Outperform competitors using forecast data and the drivers and trends shaping the market.
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Where is the largest and fastest growing market for kitchen lighting ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The kitchen lighting market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Panasonic Corporation; Eaton Corporation Plc; Stanley Black & Decker Inc.; Signify Holding B.V.; Hubbell Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.