According to a new report, published by KBV research, The Global Kitchen Lighting Market size is expected to reach $19 billion by 2028, rising at a market growth of 7.6% CAGR during the forecast period.
The Offline segment is showcasing a CAGR of 2.9% during (2022 - 2028). The growth is attributable to the industry's continued use of offline lighting shops, the chance to inspect the item in person, and the expanding home décor styles in many areas. Additionally, many customers still choose to purchase goods from brick-and-mortar stores because doing so enables them to thoroughly inspect the item and use it immediately. As a result, the segment is anticipated to expand.
The Pendant Lighting segment acquired maximum revenue share in the Global Kitchen Lighting Market by Product Type in 2021 thereby, achieving a market value of $7.5 billion by 2028. A ceiling-mounted lamp that hangs downward on a chain or rod is known as a pendant light. Although they also belong to the surface light category, they are made to offer direct lighting for a wide region. For a better visibility, pendants direct light toward the surface of a kitchen island, table, sink, or counter. Pendants can serve as focal points in the kitchen and come in various designs and hues. There wide availability is the main factor propelling the growth of the segment.
The Asia Pacific market dominated the Global Kitchen Lighting Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.1 billion by 2028. The Europe market is poised to grow at a CAGR of 6.9% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 7.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/kitchen-lighting-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Panasonic Corporation, Acuity Brands Lighting, Inc., Signify N.V., Koninklijke Philips N.V., General Electric Company, Havells India Ltd., Kichler Lighting LLC, Hubbell Incorporated, ams-OSRAM AG, and Lutron Electronics.
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