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The United States LED lighting market attained a value of USD 10.75 billion in 2022. The market is further assessed to grow at a CAGR of 8.6% during 2023-2028 to reach a value of USD 17.75 billion by 2028.
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The United States is witnessing a rapid shift towards energy-saving methods keeping in line with the country’s climate goals. It is anticipated that the majority of the lighting installations in the country would use LED technology by 2035, resulting in energy savings surpassing 569 TWh annually from LED lighting, which is equitable to the energy output of more than 92 1,000 MW power plants per year. In the commercial sector, particularly in agricultural applications, LED lights are becoming a common phenomenon for aiding the growth of plants. There is a rise in the number of high-tech plant factories across the United States adopting indoor farming and LED lights to overcome the loss of crops created due to climate change. LEDs enable the speedy year-round crop cycles in addition to positively impacting the taste and levels of vitamins and antioxidants present in plants. The State legislative bodies across the country are phasing out the sale of 4-foot linear fluorescents by 2024 which is likely to create greater opportunities for LED products.
Light Emitting Diodes (LED) lights are used as illumination sources in different applications. Unlike incandescent filament bulbs or plasma tube lights which work on filament heating and plasma gas excitation respectively, this works on the principle of diode control, mostly made using semiconductors, using electricity. Unlike incandescent bulbs which can burn out instantaneously, LED lights slowly lose their luminous intensity, indicating well in advance that they must be changed. They are seen as more effective in terms of energy consumption, luminous intensity and size as compared to other illumination sources.
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The United States LED lighting market can be differentiated on the basis of type into:
The market can be segmented on the basis of technology into:
Based on application, the market can be divided into:
It can be differentiated on the basis of end use into:
The market can be differentiated on the basis of region:
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The incorporation of indoor LED lighting solutions also leads to improved quality of sleep, reduction in eye strain and headaches, non-toxicity, and increased worker productivity and cognitive performance. Besides performance improvements, LED lighting usage offers significant environmental benefits, including lower GHG emissions and reduced electricity consumption. As a result, they are increasingly being favoured by governments over traditional lighting options. In 2022, as part of the New York state’s Smart Street Lighting NY programme, the New York Power Authority (NYPA) partnered with the Town of Irondequoit to convert 500,00 streetlights to LED technology by the year 2025, supporting the goals of the Climate Leadership and Community Protection Act to lower the electricity demand by three percent by 2025, which is the most aggressive clean energy law in the nation. The increasing technological advancements and innovations such as the roll out of smart bulbs, Human-centric LED lighting, IoT (Internet of Things), and LiFi (the next step in the LED tech) are anticipated to favour the market demand in the coming years.
The government schemes such as the Solid-State Lighting Program, set out by the US Department of Energy (DOE) have been aiding in fostering the country’s scientific capabilities and leveraging private funds to boost innovation for developing efficient and flexible lighting products such as light-emitting diode (LED) technologies.
The report gives a detailed analysis of the following key players in the American LED Lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
---|---|
Base Year | 2022 |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Technology, Application, End Use, Country |
Breakup by Type |
Downlight, Street Light, Tubelight, High Bay, Troffers, Track Lights, Suspended Pendants, Bulbs, Others |
Breakup by Technology | Smart LED Lighting, Regular LED Lighting |
Breakup by Application | Indoor, Outdoor |
Breakup by End Use | Residential, Commercial, Industrial, HIghway and Roadway, Others |
Breakup by Region | New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, Far West |
Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
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, and others. |
Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Federal Requirements for Lighting Products by State
9 North America LED Lighting Market Analysis
9.1 North America LED Lighting Historical Market (2018-2022)
9.2 North America LED Lighting Market Forecast (2023-2028)
9.3 North America LED Lighting Market by Country
9.3.1 United States
9.3.2 Canada
10 United States LED Lighting Market Analysis
10.1 United States LED Lighting Historical Market (2018-2022)
10.2 United States LED Lighting Market Forecast (2023-2028)
10.3 United States LED Lighting Market by Type
10.3.1 Downlight
10.3.1.1 Historical Trend (2018-2022)
10.3.1.2 Forecast Trend (2023-2028)
10.3.2 Street Light
10.3.2.1 Historical Trend (2018-2022)
10.3.2.2 Forecast Trend (2023-2028)
10.3.3 Bulbs
10.3.3.1 Historical Trend (2018-2022)
10.3.3.2 Forecast Trend (2023-2028)
10.3.4 Tube Lights
10.3.4.1 Historical Trend (2018-2022)
10.3.4.2 Forecast Trend (2023-2028)
10.3.5 High Bay
10.3.5.1 Historical Trend (2018-2022)
10.3.5.2 Forecast Trend (2023-2028)
10.3.6 Troffers
10.3.6.1 Historical Trend (2018-2022)
10.3.6.1 Forecast Trend (2023-2028)
10.3.7 Track Lights
10.3.7.1 Historical Trend (2018-2022)
10.3.7.2 Forecast Trend (2023-2028)
10.3.8 Suspended Pendants
10.3.8.1 Historical Trend (2018-2022)
10.3.8.2 Forecast Trend (2023-2028)
10.3.9 Others
10.4 United States LED Lighting Market by Technology
10.4.1 Smart LED Lighting
10.4.1.1 Historical Trend (2018-2022)
10.4.1.2 Forecast Trend (2023-2028)
10.4.2 Regular LED Lighting
10.4.2.1 Historical Trend (2018-2022)
10.4.2.2 Forecast Trend (2023-2028)
10.5 United States LED Lighting Market by Application
10.5.1 Indoor
10.5.1.1 Historical Trend (2018-2022)
10.5.1.2 Forecast Trend (2023-2028)
10.5.2 Outdoor
10.5.2.1 Historical Trend (2018-2022)
10.5.2.2 Forecast Trend (2023-2028)
10.6 United States LED Lighting Market by End Use
10.6.1 Residential
10.6.1.1 Historical Trend (2018-2022)
10.6.1.2 Forecast Trend (2023-2028)
10.6.2 Commercial
10.6.2.1 Historical Trend (2018-2022)
10.6.2.2 Forecast Trend (2023-2028)
10.6.3 Industrial
10.6.3.1 Historical Trend (2018-2022)
10.6.3.2 Forecast Trend (2023-2028)
10.6.4 Highways and Roadways
10.6.4.1 Historical Trend (2018-2022)
10.6.4.2 Forecast Trend (2023-2028)
10.6.5 Others
10.7 United States LED Lighting Market by Region
10.7.1 New England
10.7.2 Mideast
10.7.3 Great Lakes
10.7.4 Plains
10.7.5 Southeast
10.7.6 Southwest
10.7.7 Rocky Mountain
10.7.8 Far West
11 Regional Analysis
11.1 New England
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Mideast
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 Great Lakes
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 Plains
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Southeast
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Southwest
11.6.1 Historical Trend (2018-2022)
11.6.2 Forecast Trend (2023-2028)
11.7 Rocky Mountain
11.7.1 Historical Trend (2018-2022)
11.7.2 Forecast Trend (2023-2028)
11.8 Far West
11.8.1 Historical Trend (2018-2022)
11.8.2 Forecast Trend (2023-2028)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyers Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Value Chain Analysis
14 Comparison of LED’s with Conventional Lighting Technologies
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Signify S.A
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Financial Summary
15.2.1.5 Certifications
15.2.2 ams-OSRAM AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Financial Summary
15.2.2.5 Certifications
15.2.3 Eaton Corporation Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Financial Summary
15.2.3.5 Certifications
15.2.4 Acuity Brands Lighting, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Financial Summary
15.2.4.5 Certifications
15.2.5 SMART Global Holdings, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Financial Summary
15.2.5.5 Certifications
15.2.6 GE Lighting, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Financial Summary
15.2.6.5 Certifications
15.2.7 Hubbell Incorporated.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Financial Summary
15.2.7.5 Certifications
15.2.8 Others
15 New Technology
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America LED Lighting Market (2018-2028)
2. United States LED Lighting Historical Market: Breakup by Type (USD Billion), 2018-2022
3. United States LED Lighting Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. United States LED Lighting Historical Market: Breakup by Technology (USD Billion), 2018-2022
5. United States LED Lighting Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6. United States LED Lighting Historical Market: Breakup by Application (USD Billion), 2018-2022
7. United States LED Lighting Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. United States LED Lighting Historical Market: Breakup by End Use (USD Billion), 2018-2022
9. United States LED Lighting Market Forecast: Breakup by End Use (USD Billion), 2023-2028
10. United States LED Lighting Historical Market: Breakup by Region (USD Billion), 2018-2022
11. United States LED Lighting Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. United States LED Lighting Market Structure
In 2022, the United States LED lighting market attained a value of USD 10.75 billion.
The market is projected to grow at a CAGR of 8.6% between 2023 and 2028.
Rising population, growing urbanisation, surging environmental consciousness and increasing investments in expansion of residential, commercial and industrial spaces along with the general decline in the prices of LED lights are major drivers pushing this market. Nationwide initiatives to replace street lights with LED lights is also accelerating the market.
Key trends pushing growth include the various conducive government regulations and the rising environmental awareness among the consumers.
Major regional segments of the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountains, and Far West.
The types of LED lighting in the market are downlight, street light, tubelight, high bay, troffers, track lights, suspended pendants, bulbs, among others.
The technology used in the market can be divided into smart LED lighting and regular LED lighting.
The applications segments include indoor and outdoor.
Leading end use sectors are residential, commercial, industrial, highways and roadways, among others.
The major players in the market are Signify S.A., ams-OSRAM AG, Eaton Corporation Inc., Acuity Brands Lighting, Inc., SMART Global Holdings, Inc., GE Lighting, Inc., Hubbell Incorporated, and others.
The United States LED lighting market attained a value of USD 10.75 billion in 2022, driven by the growing environmental awareness and trend of sustainability. Aided by the various conducive government regulations and the general decline in the prices of LED lights, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 8.6%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the LED lighting market can be segmented into downlight, street light, tubelight, high bay, troffers, track lights, suspended pendants, bulbs, among others. The technology used in the market can be divided into smart LED lighting and regular LED lighting. The applications segments include indoor and outdoor. LED lights find end use in residential, commercial, industrial, highways and roadways as well as other places. The major regional markets for LED lighting are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountains and Far West. The key players in the above market include Signify S.A., ams-OSRAM AG, Eaton Corporation Inc., Acuity Brands Lighting, Inc., SMART Global Holdings, Inc., GE Lighting, Inc., Hubbell Incorporated, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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