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United States LED Lighting Market Report and Forecast 2023-2028
Market Report I 2023-04-25 I 103 Pages I EMR Inc.
United States LED Lighting Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the United States LED lighting market reached a value of USD 10.75 billion in 2022. Aided by the growing demand for energy-efficient and environmentally friendly lighting solutions, the market is expected to grow at a CAGR of 8.6% between 2023 and 2028, to reach a value of USD 17.75 billion by 2028.
LED (Light Emitting Diode) lighting is a type of solid-state lighting technology that converts electrical energy directly into light. Compared to conventional incandescent and compact fluorescent lamps, LED lights provide a number of advantages, including lower energy usage, a longer lifespan, and less heat production. They have several uses, including in outdoor, commercial, industrial, and residential environments.
The rising demand for energy-efficient and environmentally friendly lighting solutions is the key factor driving the United States LED lighting market growth. The rapid use of LED lights across numerous sectors can be attributed to the increased awareness of their advantages, including decreased energy costs and carbon emissions. Additionally, the transition to LED lighting has been accelerated by the phase-out of incandescent bulbs and the implementation of energy efficiency standards.
Additionally, the increasing focus on smart lighting solutions and the integration of LED lights with IoT (Internet of Things) and connected devices are expected to create new growth opportunities for the United States LED lighting market during the forecast period. The development of innovative LED lighting products with advanced features, such as colour tunability, dimming capabilities, and smart controls, is anticipated to further drive the market expansion.
The advancements in LED technology and the increasing investment in research and development by market players are also expected to boost the growth of the LED lighting market in the United States. The development of high-performance LED chips with better luminous efficacy, improved colour rendering, and enhanced thermal management is expected to contribute to the United States LED lighting market expansion.
The need for stylish and versatile LED lighting solutions is rising as aesthetics and design become more and more important in the architecture and interior design fields. The development of innovative LED products, such as flexible LED strips, decorative fixtures, and smart bulbs, is expected to propel the United States LED lighting market development during the forecast period.
Market Segmentation
The market can be divided based on type, technology, application, end use, and country.
Market Breakup by Type
- Downlight
- Street Light
- Bulbs
- Tube Lights
- High Bay
- Troffers
- Track Lights
- Suspended Pendants
- Others
Market Breakup by Technology
- Smart LED Lighting
- Regular LED Lighting
Market Breakup by Application
- Indoor
- Outdoor
Market Breakup by End Use
- Residential
- Commercial
- Industrial
- Highways and Roadways
- Others
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the United States LED lighting companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Signify S.A
- ams-OSRAM AG
- Eaton Corporation Inc.
- Acuity Brands Lighting, Inc.
- SMART Global Holdings, Inc.
- GE Lighting, Inc.
- Hubbell Incorporated.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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 Market Share
9.3.1.1 United States
9.3.1.2 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 Market Share
10.7.1.1 New England
10.7.1.2 Mideast
10.7.1.3 Great Lakes
10.7.1.4 Plains
10.7.1.5 Southeast
10.7.1.6 Southwest
10.7.1.7 Rocky Mountain
10.7.1.8 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
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