US LED Market

US LED Market by Type (Lamps and Luminaires), Application (Indoor and Outdoor) and Sector (Residential, Commercial, Industrial, Retail, Hospitality and Health Care) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-1421
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 154
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US LED Market was valued at USD 9.89 billion in 2020 and is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the declining prices of LED products, growing demand for energy-efficient lighting systems and stringent regulations by government bodies.


US LED Market summary

LEDs have been experiencing drastic economic and technological development being the foremost source of lighting. The US is among the major innovators, adopters, and investors in the global LED market. The LED technology has an enormous scope of improvement and innovation. Nowadays, the quality of light is one of the important driving factors among the regional manufacturers, as energy savings are no longer the foremost driver.

The US Department of Energy (DOE) claimed that owing to the rising technological innovation, energy savings from LED lighting is likely to reach 569 terawatt-hours annually by 2035, which is equal to the annual output of more than 92 1,000-megawatt power plants, if DOE Lighting R&D program goals are accomplished.

The Covid-19 pandemic had an unpleasant impact on the US LED. The production has been on halt and reduced adoption of LED lighting from the residential sector in the country. The market suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Market Trends, Drivers, Restraints, and Opportunities

  • The rising demand for energy-efficient lighting systems, stringent policies and regulations by government and declining prices of LED products are the key factors fuelling the adoption of LED lighting in the United States.
  • The directional nature and high efficiency of LEDs are creating opportunities to upsurge the industrial adoption.
  • With the growing tendency of smart home in the region, there has been an increasing demand for intelligent LED lighting systems connected with other electronic devices and can be controlled remotely.
  • Automotive is among the evolving markets for LEDs, where autonomous vehicles and electric vehicles is likely to drive the deployment of LED components in the vehicles.
  • Customisable LED lighting solutions is observing a rise in adoption and demand. In the US market, acquisitions, mergers, and collaborations are some of the recognized trends adopted in the market for inorganic growth and product innovation which is projected to propel the market growth in coming years.
  • R&D investment and technological advancement in US LED market are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the US LED market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

US LED Market-Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Type (Lamps and Luminaires), Application (Indoor and Outdoor), Sector (Residential, Commercial, Industrial, Retail, Hospitality and Health Care)

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Emerson Electric Co, Signify Holding (Philips Lighting), OsRam Licht AG, Nichia Corporation and Hubbell Incorporated

Market Segment insights

The luminaires segment is projected to constitute a large market share

Based on type, the US LED market is segregated into lamps and luminaires. The luminaires segment is expected to account for a key share of the market during the forecast period. They are widely used in industrial and commercial segments. New installations primarily drive the demand for LED luminaires. The segment includes lights used in high bays, streetlights, track lights, downlights, troffers, and suspended pendants for various applications. LED luminaires deliver more light per output power. However, lamps segment is anticipated to expand at a rapid pace during the forecast period due to their rising adoption in residential sectors. These lamps have various advantages over incandescent lamps, including energy efficiency, robustness, and right temporal stability.


US LED Market types

Indoor segment is expected to register a substantial CAGR

Based on application, the US LED market is divided into indoor and outdoor. The indoor segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to growing product adoption as an alternative to High-Intensity Discharge (HID), fluorescent, and incandescent lamps. The use of LED lights in retail stores and malls, offices, hospitals, and education buildings has increased in the country. However, outdoor segment is projected to expand at a robust pace during the forecast period owing to shifting focus of public policy interventions and municipality support along with government initiatives, such as the LightSavers program undertaken by The Climate Group.

Commercial segment is expected to dominate the market

Based on sector, the US LED market is divided into residential, commercial, industrial, retail, hospitality and health care. Commercial segment is anticipated to expand at a robust CAGR during the forecast period. Demand for LED troffers and downlights are anticipated to boost the market growth over the coming years. The commercial end-use mainly includes museums, galleries, and other exhibition lighting applications that primarily use projectors, reflectors and downlights etc. However, residential segment is projected to expand at a robust pace during the forecast period owing to adoption of LED A-type lamps which has increased exponentially due to reduced product prices and increased subsidy programs by governments and agencies.
 

Segments

Segments Covered in the Report
The US LED Market has been segmented on the basis of:-
Type

  • Lamps
  • Luminaires

Application

  • Indoor
  • Outdoor

Sector

  • Residential
  • Commercial
  • Industrial
  • Retail
  • Hospitality
  • Health Care

Key Companies

  • Emerson Electric Co
  • Signify Holding (Philips Lighting)
  • OsRam Licht AG
  • Nichia Corporation
  • Hubbell Incorporated

Competitive Landscape

Key players competing in the US LED market include Emerson Electric Co, Signify Holding (Philips Lighting), OsRam Licht AG, Nichia Corporation and Hubbell Incorporated.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instances,

  • In February 2020, Signify Holdings launched a new integrated Philips Combo Charge Controller for streetlights, authorizing the development of a hybrid solar system. With this innovation, the company focused on developing a new market for solar-powered outdoor lightings in Asia, Africa, South America, Australia, and Spain, where the solar-powered lighting solutions has already been installed.
  • In May 2019, LED horticultural lighting was launched by OsRam in Europe, the Middle East, and Africa (EMEA), supported by its experienced team of technical advisers to help growers produce the better crops.
US LED Market keyplayers
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. LED Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. LED Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. LED Market - Supply Chain
  4.5. Global LED Market Forecast
     4.5.1. LED Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. LED Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. LED Market Absolute $ Opportunity
5. Global LED Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. LED Market Size and Volume Forecast by Types
     5.3.1. Lamps
     5.3.2. Luminaires
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global LED Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. LED Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global LED Demand Share Forecast, 2019-2026
7. North America LED Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America LED Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America LED Market Size and Volume Forecast by Types
     7.4.1. Lamps
     7.4.2. Luminaires
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America LED Demand Share Forecast, 2019-2026
8. Latin America LED Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America LED Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America LED Market Size and Volume Forecast by Types
     8.4.1. Lamps
     8.4.2. Luminaires
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America LED Demand Share Forecast, 2019-2026
9. Europe LED Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe LED Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe LED Market Size and Volume Forecast by Types
     9.4.1. Lamps
     9.4.2. Luminaires
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe LED Demand Share Forecast, 2019-2026
10. Asia Pacific LED Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific LED Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific LED Market Size and Volume Forecast by Types
     10.4.1. Lamps
     10.4.2. Luminaires
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific LED Demand Share Forecast, 2019-2026
11. Middle East & Africa LED Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa LED Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa LED Market Size and Volume Forecast by Types
     11.4.1. Lamps
     11.4.2. Luminaires
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa LED Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global LED Market: Market Share Analysis
  12.2. LED Distributors and Customers
  12.3. LED Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Emerson Electric Co
     12.4.2. Signify Holding (Philips Lighting)
     12.4.3. OsRam Licht AG
     12.4.4. Nichia Corporation
     12.4.5. Hubbell Incorporated

Segments Covered in the Report
The US LED Market has been segmented on the basis of:-
Type

  • Lamps
  • Luminaires

Application

  • Indoor
  • Outdoor

Sector

  • Residential
  • Commercial
  • Industrial
  • Retail
  • Hospitality
  • Health Care

Key Companies

  • Emerson Electric Co
  • Signify Holding (Philips Lighting)
  • OsRam Licht AG
  • Nichia Corporation
  • Hubbell Incorporated

Key players competing in the US LED market include Emerson Electric Co, Signify Holding (Philips Lighting), OsRam Licht AG, Nichia Corporation and Hubbell Incorporated.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instances,

  • In February 2020, Signify Holdings launched a new integrated Philips Combo Charge Controller for streetlights, authorizing the development of a hybrid solar system. With this innovation, the company focused on developing a new market for solar-powered outdoor lightings in Asia, Africa, South America, Australia, and Spain, where the solar-powered lighting solutions has already been installed.
  • In May 2019, LED horticultural lighting was launched by OsRam in Europe, the Middle East, and Africa (EMEA), supported by its experienced team of technical advisers to help growers produce the better crops.
US LED Market keyplayers

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