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.
Panasonic Corporation; Signify Holding; ACUITY BRANDS LIGHTING, INC; OSRAM GmbH; and Hubbell – are Prominent Market Participants in Kitchen lighting Market
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:
| Year | News | Country |
| 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. | Europe |
| 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. | North America |
| 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. | North America |
