Decorative Kitchen Lighting is Expected to be the Fastest Growing Segment During the Forecast Period 2021–2028

According to a new market research study on “South America Kitchen Lighting Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Source, and Product” is expected to reach US$ 1,812.56 million by 2028 from US$ 947.65 million in 2021. The market is estimated to grow at a CAGR of 9.7% from 2021 to 2028. The report provides trends prevailing in the South America kitchen lighting market along with the drivers and restraints pertaining to the market growth. Elevating proliferation of led in kitchen lighting, ramping advancements in kitchen lighting, and accelerated growth in e-commerce are the major factor driving the growth of the South America kitchen lighting market. However, high price of kitchen lighting hinders the growth of South America kitchen lighting market.

The South America kitchen lighting market is segmented on the basis of type, source, product, and country. Based on type, the market is segmented into general kitchen lighting, task kitchen lighting, and decorative kitchen lighting. In 2020, kitchen lighting segment held the largest share in the market, decorative kitchen lighting is expected to be the fastest growing segment during the forecast period. Based on source, the market is segmented into fluorescent and LED and OLED. In 2020, LED and OLED segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on product, the market is segmented into island lights, pendant lights, ceiling lights, chandeliers, track lighting, under cabinet lighting, and others. In 2020, ceiling lights segment held the largest share in the market, under cabinet lighting is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Brazil, Argentina, and Rest of SAM. In 2020, Brazil held the largest share in the market, and Argentina is expected to be the fastest growing country during the forecast period.

Cree Lighting; OSRAM Licht AG; Panasonic Corporation; Signify Holding (Philips); Hubbell Incorporated; and Lutron Electronics Co., Inc; are among the leading companies in the South America kitchen lighting market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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