Press Release

United States LED Lighting Market to Grow at a CAGR of 8.7% During 2024-2032, Aided by the Rising Demand for Cost-Effective and Sustainable Lighting Solutions

United States LED Lighting Market

According to a new report by EMR titled, ‘The United States LED Lighting Market Report and Forecast 2024-2032’, the market attained a value of USD 11.67 billion in 2023. The market is assessed to grow at a CAGR of 8.7% during 2024-2032 to attain USD 24.69 billion by 2032.

LED lighting offers environmental benefits like lower greenhouse gas emissions and reduced electricity consumption, making them preferable over traditional options. Government programs like New York's Smart Street Lighting NY program and the Solid-State Lighting Program by the US Department of Energy are accelerating the adoption of LED technologies, thus contributing to the United States LED lighting market development. In addition, advancements such as smart bulbs, human-centric LED lighting, IoT, and LiFi are expected to aid the market growth in the coming years.

 

According to industrial reports, 51.4% of the outdoor lights used are LED lights in the USA. Further, installations for indoor applications are relatively low, accounting for 29.8% of the overall indoor lighting.

 

In September 2023, US LED Inc. launched the Right Choice Series of outdoor LED luminaires, offering high performance and value. The LED light offers proprietary optics and adjustable colour temperature; these fixtures are designed to cater to various project requirements while enhancing aesthetics and functionality. The sleek design, die-cast housing, and rotatable optics ensure durability and aesthetics of the product. Contractor-friendly mounting options and additional accessories further enhance versatility, making it an ideal solution for any outdoor lighting project.

 

In June 2023, Koninklijke Philips N.V. (NYSE: PHG) launched a series of LED lights tailored for outdoor settings like gardens, boasting durability and energy efficiency in diverse weather conditions. Apart from lowering energy usage, they deliver cost savings and straightforward installation, guaranteeing users a hassle-free experience while offering dependable and environmentally friendly outdoor lighting solutions.

 

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Market Breakup by Type, Technology, Application, End Use, and Region:

  • The market is segmented based on type into downlight, street light, bulbs, tube lights, high bay, troffers, track lights, and suspended pendants, among others.
  • By technology, the market is bifurcated into smart LED lighting, and regular LED lighting.
  • Based on application, the market can be divided into indoor and outdoor.
  • By end-use, the market is segmented into residential, commercial, industrial, and highways and roadways, among others.
  • Region-wise, the United States LED lighting market is divided into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountains, and Far West.

 

Key Findings of the Report:

  • LED lighting offers significant environmental advantages such as reduced greenhouse gas emissions and lower electricity consumption compared to traditional lighting options.
  • Initiatives like New York's Smart Street Lighting NY program and the US Department of Energy's Solid-State Lighting Program are accelerating the adoption of LED lights for both outdoor and indoor settings.
  • The market is expected to benefit from the increasing investments by manufacturers in product development and marketing.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the United States LED lighting market for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, technology, application, end use, and major regions of LED lighting.
  • 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 United States LED lighting market are Signify S.A, ams-OSRAM AG, Eaton Corporation Inc., Acuity Brands Lighting, Inc., SMART Global Holdings, Inc., GE Lighting, Inc., and Hubbell Incorporated, 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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Technology
  • Application
  • End Use
  • Region
Breakup by Type
  • Downlight
  • Street Light
  • Bulbs
  • Tube Lights
  • High Bay
  • Troffers
  • Track Lights
  • Suspended Pendants
  • Others
Breakup by Technology
  • Smart LED Lighting
  • Regular LED Lighting
Breakup by Application
  • Indoor
  • Outdoor
Breakup by End Use
  • Residential
  • Commercial
  • Industrial
  • Highways and Roadways
  • Others
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Signify S.A
  • ams-OSRAM AG
  • Eaton Corporation Inc.
  • Acuity Brands Lighting, Inc.
  • SMART Global Holdings, Inc.
  • GE Lighting, Inc.
  • Hubbell Incorporated.
  • Others

 

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 a 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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