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- The U.S. LED market is growing at an increasing rate. The LED lighting business is experiencing rapid growth thanks to the growing penetration of LEDs in American homes and the demand for commercial lighting. It is estimated that US$18 billion in electricity costs can be saved annually by switching to energy-efficient LEDs.
www.ewizcommerce.com/blog/key-trends-and-growth-forecasts-of-the-us-led-lighting-market-2021-26/Key Trends & Forecasts of the US LED Lighting Market (2021-26)
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Dec 18, 2023 · While in 2019, almost half of all light sources in the world were LEDs, it is projected that by 2030, some 87 percent of all light sources will be LEDs. This growing adoption rate is reflected...
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Jan 23, 2023 · Between 2020 and 2035, LED lights are predicted to gain popularity in the United States, particularly for outdoor applications. The North America Street Lighting market is expected to register a CAGR of 9.4% during the period 2022-2027.
Sep 9, 2021 · Almost 31% of lighting energy consumption comes from fluorescent lighting systems in the Linear Fixture submarkets. An estimated 5.9 billion commercial buildings in the United States are currently in use. Across the world, LED lighting accounted for nearly $51 billion USD in 2020.
The US LED Lighting Market is expected to reach USD 8.89 billion in 2024 and grow at a CAGR of 3.72% to reach USD 11.06 billion by 2030. ACUITY BRANDS INC., Current Lighting Solutions LLC., Marelli Holdings Co. Ltd, OSRAM GmbH. and Signify (Philips) are the major companies operating in the market.
Increase in LED installation by 72% in commercial buildings, 56% in residential houses, and 83% in industries by 2025 to drive the growth of the LED market. LED penetration is driven by LED certification for commercial spaces, which increased by 30% in 2022.
An increase in small businesses, replacement of conventional lighting, and transition to EVs drive the market demand. In terms of value and volume share, in 2023, the US LED light market accounted for the majority of the share, followed by the Rest of North America.
The US LED Lighting Market size is estimated at 8.89 billion USD in 2024, and is expected to reach 11.06 billion USD by 2030, growing at a CAGR of 3.72% during the forecast period (2024-2030).