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North America LED Lighting Market Size Worth $14.6 Billion By 2025 | Signify Holding (Philips Lighting); Cree, Inc.; LSI Industries Inc.; and Vishay Intertechnology, Inc.

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North America LED Lighting Market Size Worth $14.6 Billion By 2025 | Signify Holding (Philips Lighting); Cree, Inc.; LSI Industries Inc.; and Vishay Intertechnology, Inc.

December 03
12:21 2019
North America LED Lighting Market Size Worth $14.6 Billion By 2025 | Signify Holding (Philips Lighting); Cree, Inc.; LSI Industries Inc.; and Vishay Intertechnology, Inc.

Grand View Research, Inc. – Market Research And Consulting.
The North America LED lighting market size is expected to reach USD 14.6 billion by 2025, registering a CAGR of 9.6% over the forecast period, according to a new report by Grand View Research, Inc.

The North America LED lighting market size is expected to reach USD 14.6 billion by 2025, registering a CAGR of 9.6% over the forecast period, according to a new report by Grand View Research, Inc. Increase in the need to use sustainable energy sources among residential, industrial, and commercial end uses across U.S. and Canada is driving the market. Furthermore, benefits such as greater lifespan of light-emitting diode (LED) lights, high energy saving potential, directional capabilities, and eco-friendly nature over conventional lightings are anticipated to boost market demand through 2025. Additionally, stringent energy-saving policies implemented by the government and regulatory efforts to standardize LED products are likely to encourage widespread adoption.

The commercial end-use segment has witnessed high growth in the past years owing to rise in the adoption of downlights, streetlights, and troffers. The residential segment primarily focuses on low procurement cost while purchasing lighting products, whereas the commercial segment focuses on the operating and replacement cost. Thus, reduction in prices and availability of rebate programs have led to awareness among consumers, which has contributed to the adoption of light-emitting diode lighting solutions among residential as well as commercial end users. Furthermore, advantages such as no need for regular replacement due to longer lifespan and reduced maintenance cost have benefitted commercial and industrial end users. For instance, high-quality LED products offer 25,000 lifetime hours, whereas typical incandescent offered 1,000 lifetime hours and CFLs offered 8,000 to 12,000 lifetime hours.

 U.S. LED lighting market size, by type, 2015-2025 (USD Billion)

Get Details For “Sample Report, TOC, Segmentation & methodology of North America LED Lighting Market” Click Link Below:

https://www.grandviewresearch.com/industry-analysis/north-america-led-lighting-market

Product Type Insights

Based on product type, the North America market is segregated into lamps and luminaires. The luminaires segment registered a share of more than 65.0% in 2018. The adoption of luminaires is primarily attributed to increase in demand for downlights and troffers for indoor applications. Moreover, consistent development of new products catering to demand for a comfortable experience has amplified demand. For instance, Signify Holding offers Luminous flux LED luminaires, which provide visual comfort in terms of natural light for indoor applications in hospitals, retail, hotels, and offices.

The increasing adoption of advanced A-lamps and T-lamps among residential, and commercial space is driving the LED lamp type segment in the region. The legislative efforts towards sustainable use of LED lights and substantial decrease in LED lamps has led to a widespread adoption. For instance, the new federal light bulb regulations to be enforced from January 2020, will prohibit the sale of non-complying light bulbs included in the line of A-lamps, T-lamps, and other lamps. Moreover, continual efforts raised by the Canadian government to improve import and export certification process and to ensure product quality is also enabling the development of the market.

The market demand for light-emitting diode products has witnessed substantial growth in Canada owing to lucrative rebate programs and government policies. For users to qualify for the rebate programs, they need to deploy or use the ENERGYSTAR line of lighting fixtures. Furthermore, the Canadian government offers higher rebates from 25% to 50% to offset the cost of upgrading or retrofitting qualified and licensed lights. For instance, Save on Energy programs are provided through Ontario’s local electric utilities to small businesses. The program offers incentives up to USD 2,000 for upgrading energy-efficient lighting products, which include a range of ENERGYSTAR certified LED products. Thus, growth in the adoption of ENERGYSTAR products, which meets energy efficiency levels without comprising performance, is enabling market development in the region.

Would you Like to Take a Look On “Sample Report” of North America LED Lighting Market Click the Link Below:

https://www.grandviewresearch.com/industry-analysis/north-america-led-lighting-market/request/rs1

Further key findings from the report suggest:

  • The North America LED lighting market was valued at USD 7.3 billion in 2018 and is expected to register a CAGR of 9.6% from 2019 to 2025

  • The luminaires product type segment accounted for the largest revenue share of over 65.0% in 2018, which can be attributed to increase in demand for downlights and troffers for indoor applications

  • The U.S. market was valued at USD 5.8 billion in 2018. Implementation of light control technologies and LED products has been the key factor driving the market in commercial and industrial applications

  • The North America LED lighting market was dominated by five key market players, namely General Electric Company; Signify Holding (Philips Lighting); Cree, Inc.; LSI Industries Inc.; and Vishay Intertechnology, Inc. in 2018.

North America LED lighting market share, by end use, 2018 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/6885/ibb

Grand View Research has segmented the North America LED lighting marketon the basis of product, application type, end use, and country:

North America LED Lighting Product Outlook (Revenue, USD Billion, 2015 – 2025)

  • Lamps

    • A-Lamps

    • T-Lamps

    • Others

  • Luminaires

    • Streetlights

    • Downlights

    • Others

North America LED Lighting Application Type Outlook (Revenue, USD Billion, 2015 – 2025)

  • Indoor

  • Outdoor

North America LED Lighting End-use Outlook (Revenue, USD Billion, 2015 – 2025)

  • Commercial

  • Residential

  • Industrial

  • Others

North America LED Lighting Country Outlook (Revenue, USD Billion, 2015 – 2025)

  • U.S.

  • Canada

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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City: San Francisco
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Website: https://www.grandviewresearch.com/industry-analysis/north-america-led-lighting-market

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