- Lamps
- Luminaires
The North America LED Lighting Market is valued at USD 5,593.5 million in 2021 and is expected to grow at a prominent growth rate 9.5% from 2022 to 2028. The global market report provides a thorough overview of the North America LED Lighting Market, which can be segmented by Product, Application, and Country. Based on the Product, the Market is segmented into Lamps and Luminaries. In the historic years of 2017-2021, the luminaries in the USA held a constant market share of more than 50% and are also expected to maintain their performance. This consistency is backed by increased demand for downlights and troffer in indoor applications. Different new product introduction in the market is another reason for this segment’s boost. Based on applications, the North America LED Lighting Market is segmented into Residential, Commercial, Industrial, Roads and Highways, Streets, Stadiums, Parking lots, Tunnels, and Others. Commercial & Industrial applications and outdoor applications are both expected to boost due to the adaptation of LED lights over other forms of the light source in the target of optimising power use.
North America Led Lighting Market Summary
Study Period
2023-29
Base Year
2022
CAGR
9.5%
Largest Market
North American
Fastest Growing Market
Asia-Pacific
North America LED Lighting Market Drivers
LED lighting use in North America has increased dramatically over the years. The tremendous energy-saving potential of LED lighting compared to traditional lights is largely responsible for the rise. For example, the US Department of Energy estimated a 468 trillion Btu increase in energy savings among LED lighting users in 2021, up from 143 trillion Btu in 2019. The increased use of LED lighting will result in not only energy savings but also lower replacement and maintenance costs.
North America LED Lighting Market
By Country, the USA is expected to grow the most in the forecast period owing to the increasing demand for commercial power-efficient light sources. Moreover, awareness about energy wastage and increasing demand to use energy optimally is the reason for this country to develop the most in the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share and forecast from 2022-2028
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
North America Led Lighting Market Segmentation
Product Type
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The luminaries segment is the fastest-growing segment of the market. High growth expectation is due to the increasing demand for energy-efficient lightings and recent trends in adapting smart lighting solutions.
Mouser Electronics, Bisco Industries, Steven Engineering, EGL Company Inc., Jen-Ter Wire & Element, Electronic Industries, Inc., JKL Components Corporation, Electronic Supply Chain Solutions, Inc., LPR Global Toronto, Core Electronics.
LED lighting sales in North America are increasing due to advancements in LED technology and ongoing innovation. LED technology in horticulture has decreased energy waste since it adjusts a distinct spectrum of light based on the stage of plant growth. Furthermore, the introduction of smart light-filling technology is expected to create market prospects. Signify Holding, for example, launched the GreenPower LED interlighting Gen 3 technology for effective crop development. Such advancements are projected to open up new chances for growth in the region.
Households across North America have embraced LED lighting options, thanks mainly to price reductions. Smart home growth has prompted manufacturers to release intelligent lighting solutions featuring Zigbee and Bluetooth connection. Signify Holding, for example, boosted its smart home lighting solutions in 2019 with a variety of Wi-Fi LED bulbs ranging from USD 9.97 to USD 19.97. Home Depot shops across the United States now sell the product. Furthermore, developments in lighting system and government-approved ENERGY STAR label bulbs are adding to the region's LED light growth potential.
| 1. Executive Summary |
| 2. North America LED Lighting Market Introduction |
| 2.1. North America LED Lighting Market – Taxonomy |
| 2.2. North America LED Lighting Market –Definitions |
| 2.2.1. Product Type |
| 2.2.2. Application |
| 3. North America LED Lighting Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. North America LED Lighting Market Dynamic Factors - Impact Analysis |
| 3.6. North America LED Lighting Market – Competition Landscape |
| 4. North America LED Lighting Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 |
| 4.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. North America LED Lighting Market, By Product Type, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.1. Lamps |
| 5.1.1. A-Lamps |
| 5.1.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.1.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.1.3. Market Opportunity Analysis |
| 5.1.2. T-Lamps |
| 5.1.2.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.1.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.2.3. Market Opportunity Analysis |
| 5.1.3. Others |
| 5.1.3.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.1.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3.3. Market Opportunity Analysis |
| 5.2. Luminaires |
| 5.2.1. Streetlights |
| 5.2.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.2.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.1.3. Market Opportunity Analysis |
| 5.2.2. Downlights |
| 5.2.2.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.2.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.2.3. Market Opportunity Analysis |
| 5.2.3. Troffers |
| 5.2.3.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.2.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3.3. Market Opportunity Analysis |
| 5.2.4. Others |
| 5.2.4.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.2.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.4.3. Market Opportunity Analysis |
| 6. North America LED Lighting Market Forecast, By Application, 2017 - 2021 and Forecast, 2021 – 2027 (Revenue, USD Mn) |
| 6.1. Residential |
| 6.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Commercial |
| 6.2.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Industrial |
| 6.3.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Roads and Highways |
| 6.4.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Streets |
| 6.5.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Stadiums |
| 6.6.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Parking lots |
| 6.7.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Tunnels |
| 6.8.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 6.9. Others |
| 6.9.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.9.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.9.3. Market Opportunity Analysis |
| 7. North America LED Lighting Market Forecast, By Country, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.1. United States |
| 7.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Canada |
| 7.2.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. North America LED Lighting Market - Opportunity Analysis Index, By Product Type, Application, and Country, 2022 - 2028 |
| 8. United States LED Lighting Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 8.1. Product Type Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Lamps |
| 8.1.1.1. A-Lamps |
| 8.1.1.2. T-Lamps |
| 8.1.1.3. Others |
| 8.1.2. Luminaires |
| 8.1.2.1. Streetlights |
| 8.1.2.2. Downlights |
| 8.1.2.3. Troffers |
| 8.1.2.4. Others |
| 8.2. Application Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Residential |
| 8.2.2. Commercial |
| 8.2.3. Industrial |
| 8.2.4. Roads and Highways |
| 8.2.5. Streets |
| 8.2.6. Stadiums |
| 8.2.7. Parking lots |
| 8.2.8. Tunnels |
| 8.2.9. Others |
| 8.3. United States LED Lighting Market - Opportunity Analysis Index, By Product Type and Application, 2022 - 2028 |
| 8.4. United States LED Lighting Market Dynamics – Trends |
| 9. Canada LED Lighting Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 9.1. Product Type Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Lamps |
| 9.1.1.1. A-Lamps |
| 9.1.1.2. T-Lamps |
| 9.1.1.3. Others |
| 9.1.2. Luminaires |
| 9.1.2.1. Streetlights |
| 9.1.2.2. Downlights |
| 9.1.2.3. Troffers |
| 9.1.2.4. Others |
| 9.2. Application Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Residential |
| 9.2.2. Commercial |
| 9.2.3. Industrial |
| 9.2.4. Roads and Highways |
| 9.2.5. Streets |
| 9.2.6. Stadiums |
| 9.2.7. Parking lots |
| 9.2.8. Tunnels |
| 9.2.9. Others |
| 9.3. Canada LED Lighting Market - Opportunity Analysis Index, By Product Type and Application 2022 - 2028 |
| 9.4. Canada LED Lighting Market Dynamics – Trends |
| 10. Competition Landscape |
| 10.1. Strategic Dashboard of Top Market Players |
| 10.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 10.2.1. General Electric Company |
| 10.2.2. Cree, Inc. |
| 10.2.3. Emrson Electric |
| 10.2.4. Hubbell Lighting, Inc. |
| 10.2.5. Acuity Brands Lighting, Inc. |
| 10.2.6. Verbatim |
| 10.2.7. Digital Lumens, Inc. |
| 10.2.8. LSI Industries, Inc. |
| 10.2.9. LumiGrow Inc. |
| 10.2.10. Cooper Industries, Inc. |
| 11. Research Methodology |
| 12. Key Assumptions and Acronyms |
- General Electric Company
- Cree, Inc.
- Emrson Electric
- Hubbell Lighting, Inc.
- Acuity Brands Lighting, Inc.
- Verbatim
- Digital Lumens, Inc.
- LSI Industries, Inc.
- LumiGrow Inc.
- Cooper Industries, Inc.