North America LED Lighting Market Size, Share & Trends Analysis Report By Product (Lamps, Luminaires), By Application Type, By End Use, By Country, And Segment Forecasts, 2019 - 2025

Published: Nov, 2019 | Pages: 100 | Publisher: Grand View Research
Industry: Electronics | Report Format: Electronic (PDF)

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.

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.

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.

 Table of Contents

Chapter 1 Methodology and Scope
                   1.1 Information Procurement
                   1.2 Purchased Database
                       1.2.1 GVR's internal database
                   1.3 Research Methodology
                   1.4 Research Scope & Assumptions
                   1.5 List of Primary Sources
                   1.6 List of Secondary Sources
Chapter 2 Executive Summary
Chapter 3 Market Definitions
                   3.1 Market Segmentation
Chapter 4 Industry Outlook
                   4.1 Market Snapshot
                   4.2 North America LED Lighting Market
                       4.2.1 Product segment trends
                       4.2.2 Application type segment trends
                       4.2.3 End-use segment trends
                       4.2.4 Country segment trends
                   4.3 Value Chain Analysis
                   4.4 Market Variable Analysis
                       4.4.1 Market driver analysis
                           4.4.1.1 Rise in need for cost-efficient energy saving lighting products
                           4.4.1.2 Rise in demand for connected lighting controls among commercial and industrial applications
                       4.4.2 Market challenge analysis
                           4.4.2.1 Continued preference for alternate lighting systems such as CFLs and High Intensity Discharge (HID) Lamps over LED
                   4.5 Penetration and Growth Prospect Mapping
                   4.6 North America LED Lighting Market: Key Company Analysis, 2018
                   4.7 Business Environment Analysis Tool
                       4.7.1 North America LED Lighting market: PEST analysis
                       4.7.2 North America LED Lighting Market: PORTER's Analysis
Chapter 5 North America LED Lighting Market
                   5.1 North America
                       5.1.1 North America LED lighting market, by product, 2015 - 2025 (USD Billion)
                           5.1.1.1 North America LED lighting market, by lamp type, 2015 - 2025 (USD Billion)
                           5.1.1.2 North America LED lighting market, by luminaire type, 2015 - 2025 (USD Billion)
                       5.1.2 North America LED lighting market, by application type, 2015 - 2025 (USD Billion)
                       5.1.3 North America LED lighting market, by end-use, 2015 - 2025 (USD Billion)
                   5.2 U.S.
                       5.2.1 U.S. LED lighting market, by product, 2015 - 2025 (USD Billion)
                           5.2.1.1 U.S. LED lighting market, by lamp type, 2015 - 2025 (USD Billion)
                           5.2.1.2 U.S. LED lighting market, by luminaire type, 2015 - 2025 (USD Billion)
                       5.2.2 U.S. LED lighting market, by application type, 2015 - 2025 (USD Billion)
                       5.2.3 U.S. LED lighting market, by end-use, 2015 - 2025 (USD Billion)
                   5.3 Canada
                       5.3.1 Canada LED lighting market, by product, 2015 - 2025 (USD Billion)
                           5.3.1.1 Canada LED lighting market, by lamp type, 2015 - 2025 (USD Billion)
                           5.3.1.2 Canada LED lighting market, by luminaire type, 2015 - 2025 (USD Billion)
                       5.3.2 Canada LED lighting market, by application type, 2015 - 2025 (USD Billion)
                       5.3.3 Canada LED lighting market, by end-use, 2015 - 2025 (USD Billion)
Chapter 6 Competitive Landscape
                   6.1 Acuity Brands Lighting, Inc.
                       6.1.1 Company overview
                       6.1.2 Financial performance
                       6.1.3 Product benchmarking
                       6.1.4 Recent developments
                   6.2 Cooper Industries plc (Eaton)
                       6.2.1 Company overview
                       6.2.2 Financial performance
                       6.2.3 Product benchmarking
                       6.2.4 Recent developments
                   6.3 Cree, Inc.
                       6.3.1 Company overview
                       6.3.2 Financial performance
                       6.3.3 Product benchmarking
                       6.3.4 Recent developments
                   6.4 Digital Lumens, Inc.
                       6.4.1 Company overview
                       6.4.2 Product benchmarking
                       6.4.3 Recent developments
                   6.5 General Electric
                       6.5.1 Company overview
                       6.5.2 Financial performance
                       6.5.3 Product benchmarking
                       6.5.4 Recent developments
                   6.6 Hubbell Incorporated
                       6.6.1 Company overview
                       6.6.2 Financial performance
                       6.6.3 Product benchmarking
                       6.6.4 Recent developments
                   6.7 LSI Industries Inc.
                       6.7.1 Company overview
                       6.7.2 Financial performance
                       6.7.3 Product benchmarking
                       6.7.4 Recent developments
                   6.8 Lumigrow, Inc.
                       6.8.1 Company overview
                       6.8.2 Financial performance
                       6.8.3 Product benchmarking
                       6.8.4 Recent developments
                   6.9 OSRAM GmbH
                       6.9.1 Company overview
                       6.9.2 Financial performance
                       6.9.3 Product benchmarking
                       6.9.4 Recent developments
                   6.10 Panasonic Corporation
                       6.10.1 Company overview
                       6.10.2 Financial performance
                       6.10.3 Product benchmarking
                       6.10.4 Recent developments
                   6.11 Signify Holding
                       6.11.1 Company overview
                       6.11.2 Financial performance
                       6.11.3 Product benchmarking
                       6.11.4 Recent developments
                   6.12 Vishay Intertechnology Inc.
                       6.12.1 Company overview
                       6.12.2 Financial performance
                       6.12.3 Product benchmarking
                       6.12.4 Recent developments

List of Tables

Table 1 North America LED lighting market, by product, 2015 - 2025 (USD Billion)
Table 2 North America LED lighting market, by lamp type, 2015 - 2025 (USD Billion)
Table 3 North America LED lighting market, by luminaire type, 2015 - 2025 (USD Billion)
Table 4 North America LED lighting market, by application type, 2015 - 2025 (USD Billion)
Table 5 North America LED lighting market, by end-use, 2015 - 2025 (USD Billion)
Table 6 U.S. LED lighting market, by product, 2015 - 2025 (USD Billion)
Table 7 U.S. LED lighting market, by lamp type, 2015 - 2025 (USD Billion)
Table 8 U.S. LED lighting market, by luminaire type, 2015 - 2025 (USD Billion)
Table 9 U.S. LED lighting market, by application type, 2015 - 2025 (USD Billion)
Table 10 U.S. LED lighting market, by end-use, 2015 - 2025 (USD Billion)
Table 11 Canada LED lighting market, by product, 2015 - 2025 (USD Billion)
Table 12 Canada LED lighting market, by lamp type, 2015 - 2025 (USD Billion)
Table 13 Canada LED lighting market, by luminaire type, 2015 - 2025 (USD Billion)
Table 14 Canada LED lighting market, by application type, 2015 - 2025 (USD Billion)
Table 15 Canada LED lighting market, by end-use, 2015 - 2025 (USD Billion)

List of Figures

Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 North America LED lighting market segmentation & scope
Fig. 4 North America LED lighting market snapshot
Fig. 5 North America LED lighting market, 2015 - 2025 (USD Billion)
Fig. 6 North America LED lighting market, by product, 2015 - 2025 (USD Billion)
Fig. 7 North America LED lighting market, by application type, 2015 - 2025 (USD Billion)
Fig. 8 North America LED lighting market, by end-use, 2015 - 2025 (USD Billion)
Fig. 9 North America LED lighting market, by country, 2015 - 2025 (USD Billion)
Fig. 10 North America LED lighting market: Value chain analysis
Fig. 11 North America LED lighting market driver analysis
Fig. 12 U.S. Energy Saving Potential (LED Vs. Alternate Lights Used in Connected Control Systems), 2016
Fig. 13 North America LED lighting market challenge analysis
Fig. 14 Total Number of U.S. Housing Units (Million), 2015
Fig. 15 North America LED lighting market penetration and growth prospect mapping
Fig. 16 North America LED lighting market: PEST analysis
Fig. 17 North America LED lighting market: PORTER's analysis
Fig. 18 North America LED lighting market, 2018 & 2025