U.S. LIGHTNING PRODUCT MARKET ANALYSIS

U.S. Lightning Product Market, by Standalone Type(LED Tubes and Bulbs(T8 LED Tube and Bulbs and Others (Incandescent, High Intensity Discharge)), By Lighting Fixture (Ceiling Fixtures, Recessed Lighting Fixture, Strip Light Fixture and Others (Chandeliers, Pendants, etc.)), by Application (Residential Lighting (Table Lamps, Floor Lamps and Desk Lamps), Commercial Lighting, Industrial Lighting and Outdoor Lighting), and by Retailers(The Home Depot, Lowe\'s Companies, Inc., Target, Wal-Mart, Bed Bath and Beyond, Sam’s Club, Costco and Menards) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Published In : Apr 2020
Code : CMI3719
Pages :130
Formats :
Excel and PDF
Industry : Consumer Electronics

U.S. Lightning Product MarketSize and Trends

Market Insight- U.S. Lighting Product Market

Market Overview

Lighting products or lighting fixtures are products used for deliberate illumination of light to achieve aesthetic and practical results. Lamps and lighting fixtures are artificial lighting products that are used in residential, commercial, outdoor, and industrial settings. Lighting fixtures such as ceiling fixtures, recessed lighting fixtures, and strip light fixtures are widely used among different end-use applications in the U.S. The recent past has witnessed an increased use of LED lamps and bulbs in numerous countries, owing to energy-saving efficiency and extended operational life span, which is around 10 years. LED lamps are being used in almost every application across the U.S.

The U.S. Lighting Product Market was accounted for US$ 221.8 Mn in terms of value and 4,829.5 Mn units in terms of volume in 2019 and is expected to grow at a CAGR of 4.9% for the period 2019-2027.

Market Trends

Rising adoption of outdoor LED floor lights

Floodlights are used in commercial applications to light things like parking lots and property grounds to deter potential theft. More and more business owners turned to LED bulbs for these lights in 2015 in the U.S. Rising energy efficiency standards in the U.S. has increased the adoption of LED light in outdoor facilities, which subsequently has limited production of standard incandescent bulbs. Moreover, LED lights are weather-resistant and are unaffected by temperature changes. Low maintenance required for LED bulbs and tubes is expected to drive the market growth in the near future.

Growing trend of customizable lighting fixtures

Customization in terms of shape of lighting, color and more importantly the quality of light is being witnessed by the retailers in the lighting market. Moreover, geometric lighting fixture that has minimalist aesthetic is also in trend among firms. Since it offers modern as well as a contemporary look to the room or a hall it is liked by most of the professionals. Moreover, big or oversized fixtures are in trend where they act as centerpiece of the room and provide the entire room more attractive ambiance.