North America Downlight Market to Grow at a CAGR of 9.10% During 2024-2032, Aided by the Rapid Expansion of the Industrial Sector

The downlight market in North America is being driven by the expansion of the industrial sector. The rapid development of structures required to carry out operations in various end use industries including food and beverage, IT and telecom, pharmaceutical, healthcare, and hospitality, among others is supporting the market for downlight. In addition to this, the various advantages offered by downlights, such as 85% reduced consumption of energy compared to halogen or traditional bulbs, energy savings up to 30% compared to CFL bulbs, and enhanced brightness along with the ability to dim, are likely to propel the demand for the product. Also, downlights are long lasting and can last up to 10,000 hours to 15,000 hours. Over the forecast period, the rising investment in the residential construction projects owing to the increasing disposable income, rising population, and increasing inclination towards home décor is anticipated to provide impetus to the market in the forecast period.

In February 2021, Acuity Brands, Inc. (NYSE: AYI) announced the launch of Juno Wafer LED downlights, a canless, housing-free option ideal for shallow ceilings, for indoor/outdoor housing. The product comes with five easy colour temperature adjustments. Thus, such investments by the key players to enhance their existing portfolio and offer innovative solutions are expected to bolster the market growth in the forecast period.

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Market Breakup by Application and Region:

• The market is segmented based on application into residential, commercial, and industrial. The commercial segment can be further divided based on type into retail, hospitality, and offices, among others.

• Region-wise, the market for downlight in North America can be divided into the United States and Canada.

Key Findings of the Report:

• The downlight market in North America is being driven by the increasing focus of end users on energy saving and cost-effective alternatives to CFL bulbs and halogen lighting systems.

• The thriving building and construction industry owing to the rapid urbanisation, increasing population, and rising disposable income is anticipated to augment the market growth in the forecast period.

• In addition to this, the market will be bolstered by the increasing inclination of the residents towards home décor and attractive lighting systems.

• The market will further be aided by the rapid expansion of the industrial and commercial sector.

Key Offerings of the Report:

• The EMR report gives an overview of the downlight market in North America for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the applications and regions of downlight in North America.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the North America downlight market are Signify Holding, Cree Lighting, Acuity Brands Lighting, Inc., OSRAM GmbH, Liteline Corporation, and GE Current, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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