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North America Downlight Market to Grow at a CAGR of 9.10% During 2022-2027, Aided by the Rapid Expansion of the Industrial Sector

According to a new report by EMR titled, ‘North America Downlight Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 4.7 billion in 2021. The North America downlight industry is further expected to grow at a CAGR of 9.10% between 2022 and 2027 to reach USD 7.9 billion by 2027.

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.

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 (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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