The new report by Expert Market Research titled, ‘United States LED Lighting Market Report and Forecast 2021-2026’, gives an in-depth analysis of the United States LED lighting market, assessing the market based on its segments like type, technology, application, end use, and major regions like New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountains, Far West. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
Historical Market Size (2020): USD 7.2 Billion
Forecast CAGR (2021-2026): 9.3%
Forecast Market Size (2026): USD 12.2 Billion
The growth of USA LED light market is driven by demand for efficient use of energy across various sectors. Owing to the energy efficient light emission by LEDs they are becoming a preferred option in the country. Additionally, the significant decline in the prices for LED lights will bolster the growth. Other factors such as increasing awareness for energy conservation, growing trend of sustainability in industrial sector, and government legislations for better illumination of workplaces will propel the growth of USA LED lighting market in the forecast period.
Industry Definition and Major Segments
A light-emitting diode (LED) is a semiconductor that converts electrical energy directly into light energy. It is used in lamps as a replacement of incandescent light source as these are approximately 90% more efficient. LED light converts 95% of electrical energy in light with wastage of 5% as heat.
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The United States LED lighting market can be segmented on the basis of type into:
The market can be segmented on the basis of technology into:
Smart LED Lighting
Regular LED Lighting
On the basis of application, the market can be divided into:
It can be differentiated on the basis of end use into:
Regional Market for LED lighting includes:
USA is a significant market for LED lights due to factors such as better illumination for the same amount of energy used, thus making them a cost-effective alternative to incandescent bulbs and tube lights, resulting in a steady increase in demand. The increasing adoption of LEDs due to government regulations requiring adequate lighting in workplaces, industries typically dominate the LED lighting industry will aid the regional growth in USA.
Key Market Players
The major players in the market are Signify S.A., Osram Licht AG, Eaton Corporation Inc., Acuity Brands Lighting, Inc., Cree Inc., General Electric Company, Hubbell Incorporated, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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