US LED Lighting Market (2024-2030) | Outlook, Revenue, Value, Companies, Size, Share, Forecast, Growth, Industry, Analysis, Trends

US LED Lighting Market Highlights

Report Name	US LED Lighting Market
Forecast period	2024-2030
CAGR	11.6%
Growing Sector	Commercial

Topics Covered in the US LED Lighting Market Report

The US LED Lighting market report thoroughly covers the market by installation, by product type, by sales channel, by application and competitive Landscape. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

US LED Lighting Market Synopsis

The US LED lighting market has been booming, primarily driven by the demand for energy-efficient lighting products. The market has been witnessing rapid growth, but still presents enormous potential for growth in the future. Further, one of the significant trends in the US LED lighting market is the increasing adoption of smart LED lighting systems. These systems use sensors and intelligent controls to adjust lighting according to the specific needs of the user and environment. Another significant trend is the growing demand for LED bulbs, which are cost-effective and energy-efficient, thereby reducing electricity bills and lowering carbon footprints. However, despite the rapid growth of the US LED lighting industry, there are still a few challenges that need to be addressed. The high initial cost of LED lights is a major challenge for many consumers, and it remains a barrier to the widespread adoption of the technology. Another challenge facing the market is the limited availability of skilled technical professionals who can install, operate and maintain LED lighting systems.

According to 6Wresearch, US LED Lighting market size is projected to grow at a CAGR of 11.6% during 2024-2030. The market is primarily driven by the demand for energy-efficient lighting products, favorable government initiatives, and increasing awareness among consumers about the environmental benefits and cost-effectiveness of LED lights. Additionally, the cost of producing LED bulbs has significantly dropped in recent years, making them more accessible to consumers. The cost of LED lighting is expected to keep declining as manufacturers continue to improve their manufacturing processes. This decrease in costs is driving the adoption of LED lighting and increasing demand for this technology in the U.S. Further, an increase in the adoption of LED lighting in residential and commercial settings is also a growth driver for the US LED lighting market. LED bulbs last longer than traditional bulbs, which makes them attractive to homeowners and business owners alike. In commercial settings, switchovers to LED bulbs help businesses to save on energy bills. Meanwhile, in the residential market, consumers are attracted by the longevity of the bulbs and the cost savings they offer over time.

Government Initiatives Introduced in the US LED Lighting Market

Government initiatives have played a significant role in the growth of the US LED lighting market. Several programs, including the U.S Department of Energy's Solid-State Lighting Program and the Better Buildings Initiative, have been established to encourage the adoption of LED lighting in the commercial and residential sectors. In addition, the Environmental Protection Agency's Energy Star program has incentivized the production of energy-efficient LED lighting products by providing an Energy Star label for qualified products. These initiatives have helped create awareness among consumers about the benefits of LED lighting and have also encouraged manufacturers to produce eco-friendlier, energy-efficient products. These efforts have increased the US LED Lighting Market Share. In addition, the LED lighting has numerous benefits that make it a superior option to traditional lighting technologies. For instance, LED lighting consumes less energy and lasts much longer than traditional lighting systems, resulting in significant cost savings. LED lighting is also safer and more durable, as it does not contain any harmful chemicals such as mercury, which are present in traditional lighting systems. Furthermore, LED lighting produces less heat, which can save money on air conditioning, and provides better lighting quality, resulting in more comfortable and productive environments.

Key Players in the US LED Lighting Market

the US LED lighting market is growing at an impressive rate, driven by the need for energy-efficient lighting options. The contribution of key players such as Philips Lighting, Cree, GE Lighting, Acuity Brands, and Eaton Corporation has played a crucial role in developing innovative lighting solutions for different industries. Additionally, several key companies’ embrace vast US LED Lighting Market Revenues. As the market continues to grow, we can expect to see more players entering the market and more innovative lighting solutions being developed. The future of LED lighting in the US is bright, and the key players in the industry are leading the way.

Future Insights of the US LED Lighting Market

The US LED lighting market has enormous growth potential in the future. The market is expected to witness significant growth due to favorable government initiatives promoting energy efficiency, increasing investments in smart city projects, and growing demand for smart LED lighting systems. Additionally, advancements in technology, such as innovations in LED chip design and integration with Internet of Things (IoT), are expected to drive further growth.

Market Analysis by Type

According to Ravi Bhandari, Research Head, 6Wresearch, lighting is an essential component of any commercial or residential structure, contributing to comfort, safety, and overall aesthetic appeal. Additionally, the LED lamps, also known as light bulbs, are one of the most common types of LED lighting in the US. LED lamps use less energy and have a longer lifespan than incandescent bulbs, making them a popular choice in commercial and residential spaces. There are a variety of LED lamp types available, including A-shaped bulbs, reflector bulbs, candelabra bulbs, decorative bulbs, and globe bulbs. Further, luminaires are light fixtures that provide directional lighting in commercial and residential buildings. LED luminaires are becoming increasingly popular, providing energy efficiency, lower maintenance costs, and more design flexibility. There are several types of LED luminaires, including linear luminaires, troffers, high bays, low bays, downlights, and spotlights.

Market Analysis by Sales Channel

The LED lighting market in the US has been growing rapidly, with several sales channels catering to the demands of consumers. Further, the retail and wholesale sales channels are traditional ways of selling LED lighting in the US. Retail stores such as Home Depot, Lowe's, and Walmart offer LED light bulbs at competitive prices. Whereas, the wholesale channels cater to large-scale commercial installations and offer bulk discounts to contractors and businesses. They often provide customized solutions, making them a popular choice for business-to-business transactions. Additionally, on the other hand, E-commerce has become a popular sales channel for LED lighting due to its convenience and extensive product varieties. Several online marketplaces such as Amazon, eBay, and Alibaba offer LED light bulbs, panels, and strips, among others. They provide customers with the option to compare prices, read reviews, and purchase products from the comfort of their homes. E-commerce also offers businesses the opportunity to reach a more extensive market and expand their sales channels.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• US LED Lighting Market Overview
• US LED Lighting Market Outlook
• US LED Lighting Market Forecast
• Market Size of US LED Lighting Market, 2023
• Forecast of US LED Lighting Market, 2030
• Historical Data and Forecast of US LED Lighting Revenues & Volume for the Period 2020-2030
• US LED Lighting Market Trend Evolution
• US LED Lighting Market Drivers and Challenges
• US LED Lighting Price Trends
• US LED Lighting Porter`s Five Forces
• US LED Lighting Industry Life Cycle
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By Installation for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By New for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By Retrofit for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By Lamps for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By Luminaires for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By Sales Channel for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume By Retail/Wholesale for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume, By Direct Sales for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume, By E-Commerce for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume, By Application for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume, By Indoor for the Period 2020-2030
• Historical Data and Forecast of US LED Lighting Market Revenues & Volume, By Outdoor for the Period 2020-2030
• US LED Lighting Import Export Trade Statistics
• Market Opportunity Assessment, By Installation
• Market Opportunity Assessment, By Product Type
• Market Opportunity Assessment, By Sales Channel
• Market Opportunity Assessment, By Application
• US LED Lighting Top Companies Market Share
• US LED Lighting Competitive Benchmarking, By Technical and Operational Parameters
• US LED Lighting Company Profiles
• US LED Lighting Key Strategic Recommendations

Markets Covered

The US LED Lighting market report provides a detailed analysis of the following market segments:

By Installation

• New
• Retrofit

By Type

• Lamps
• Luminaires

By Sales Channel

• Retail/Wholesale
• Direct Sales
• E-Commerce

By Application

• Indoor
• Outdoor

US LED Lighting Market (2024-2030): FAQs