Recently, two major international lighting manufacturers, Cooper Lighting and Hubbel announced that they would raise their prices again for the same reason.

Cooper lighting prices increased by 7-10%

In December 2020, Cooper Lighting announced an increase in the price of lighting products for the first time. Cooper Lighting issued another price increase notice on 26^th March, 2021.

Due to pressure from supply chain shortages, logistics issues and rising raw material costs, the prices of some lighting and controller products (LED-related) of Cooper Lighting will be generally increased by 7% and the prices of traditional products will increase by 10% and take effect on 24^th, May 2021. The updated price list will be announced on 16^th , April 2021.

Hubbell price increases by 6%

In January 2021, in order to cope with the cost pressure of commodities, freight and foreign exchange rates, Hubbell announced that the prices of some led lamps and control products will increase by 3%-10%. On 30th, March 2021, Hubbell announced that it will raise prices again and the prices of some led lamps and control products will be increased by 6% which will take effect on 1st of June, 2021 and the updated price list will be announced no later than 30th of April 2021.

Previously, Signify had been the first to announce the second price increase notice: LED lamp prices rose by 3%, traditional fluorescent lamps prices rose by 5%, lamps prices rose by an average of 6%, LED electronic products prices rose by an average of 9%, lamps and electronic products prices averagely increased of 8% which will take effect on 1st of June 2021. The adjusted price list will be announced not late than the 1st of May 2021.

In addition to Signify, three international lighting manufacturers have announced a second price increase which means that the second round of price increases in the international market has really come. It is expected that more domestic and foreign lighting manufacturers will follow up.. (Source by LEDinside Janice)