North America LED Lighting Market Size, Share & Trends Analysis Report By Product (Lamps, Luminaires), By Application Type, By End Use, By Country- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The North America LED Lighting market size was valued at US$ 17.9 billion in 2021 and is expected to hit US$ 32.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.04% from 2022 to 2030.

Key Takeaways:

  • By Product Type, the North America LED Lighting market was valued at USD 16.0 Billion in 2021
  • The luminaires segment registered a share of more than 70.0% in 2021. 
  •  The North America LED lighting market has been mainly segmented into indoor and outdoor applications. 
  • The outdoor application segment is expected to register the highest CAGR of 15.3% over the forecast period.
  •         The demand for LED lightings is highest among commercial spaces, with a market share of over 65.0% in 2021. 

Growth Factors:

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 2030. 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.

Report Scope of the North America LED Lighting Market

Report Coverage

Details

Market Size in 2021

USD 17.9 Billion

Revenue Projection By 2030

USD 32.4 Billion

Growth Rate

CAGR of 11.04% from 2022 to 2030

Base Year

2021

Historical data

2017 - 2020

Forecast Period

2022 to 2030

 

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 70.0% in 2021. 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.

Application Insights

On the basis of application, the North America LED lighting market has been mainly segmented into indoor and outdoor applications. The indoor application segment dominated the market in 2018, which can be attributed primarily to growing use of LED light products in household lighting. Decrease in price, customer-centric product designs, and availability of a variety of options have encouraged users to opt for LED light products for indoor applications. Furthermore, visually comforting and soothing experience through LED lighting within commercial office spaces has broadened the use of indoor LED applications.

The outdoor application segment is expected to register the highest CAGR of 15.3% over the forecast period. Encouraging government policies for adopting energy-efficient lighting products has led to surging adoption for streetlight applications. Street, roadway, and walkway lightings are an integral part of cities and act as one of the highest energy consumption points. Traditionally, these applications were dominated by HID light sources owing to high lumens output and hence could be mounted at distances. However, this can be compensated by LED lighting products, particularly for outdoor applications, as they exhibit features such as high durability, excellent directional light sources, and greater efficiency.

End-use Insights

Based on end use, the market has been segmented into commercial, residential, industrial, and others. The demand for LED lightings is highest among commercial spaces, with a market share of over 65.0% in 2021. Increased use of energy-efficient lighting in retail outlets, offices, educational premises, and health centers across Canada and U.S. is enabling market growth. Furthermore, several incentives and rebates schemes are provided for commercial users to offset their additional costs on the installation of LED lights. This also contributes to the rise in adoption of LED lights among commercial end users.

Households across North America have keenly adopted LED lighting solutions primarily owing to decrease in pricing. Development of smart homes has compelled manufacturers to launch intelligent lighting systems equipped with Zigbee and Bluetooth connectivity. For instance, in 2019, Signify Holding expanded its smart home lighting offerings with a range of Wi-Fi LED products ranging from USD 9.97 to USD 19.97. The product is now catered by Home Depot stores across U.S. Furthermore, advancements in lighting technology and government-approved ENERGY STAR label bulbs are contributing to the sales of LED lights in the region.

Regional Insights

The U.S. market held the dominant share in 2021 and is expected to continue its lead over the forecast period. Presence of prominent market leaders such as Cree, Inc.; Acuity Brands; and GE Lighting has contributed to widespread product adoption. The lighting industry is fairly dependent on the growth of the construction sector. Rising number of new construction projects have led to implementation of cost-saving lighting systems. According to the Associated General Contractors (AGC) of America, Inc., spending on public construction (street and highway construction and education structures) witnessed a substantial rise in 2019, thus, providing an opportunity for LED manufacturers to flourish in the U.S.

Canada is anticipated to grow at a faster pace over the forecast period. The growth in the region can be attributed to rise in real estate infrastructure development and investments across Vancouver and Toronto. Furthermore, the Canadian government has implemented a legislation that mandates the registration of products with energy labelling. Moreover, the government has paved way for ENERGY STAR certified lighting, which has contributed to reducing lighting energy consumption. For instance, in 2016, according to the government of Canada, the residential lighting accounted for only 4.0% of energy used in an average Canadian home.

North America LED Lighting Market Share Insights

The North America market is characterized by the presence of both public and private players. Prominent players include General Electric; Signify Holding; Cree, Inc.; LSI Industries Inc.; Vishay Intertechnology, Inc.; Acuity Brands Lighting, Inc.; and OSRAM GmbH. Leading players are engaged in strategic acquisitions to enhance their market dominance.

For instance,in April 2020, Signify Holding acquired WiZ Connected Lighting Co., Ltd., a developer of Wi-Fi-based lighting software solutions. The company aims to extend its business offering in the field of smart lighting. Similarly, WESCO International, Inc. acquired OSRAMs Sylvania Inc.’s lighting solutions business in January 2021. Furthermore, new product development has been a key strategy adopted to move ahead in the evolving market. For instance, in May 2019, Digital Lumens, Inc. introduced the RLE intelligent LED fixture enabled with Bluetooth technology in its intelligent LED fixtures product portfolio.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at North America for the period of 2017 to 2030

  • By Product
    • Lamps
      • A-Lamps
      • T-Lamps
      • Others
    • Luminaires
      • Streetlights
      • Downlights
      • Others
  • By Application Type
    • Indoor
    • Outdoor
  • By End-use
    • Commercial
    • Residential
    • Industrial
    • Others
  • By Country
    • U.S.
    • Canada

Key Points Covered in North America LED Lighting Market Study:

  • Growth of North America LED Lighting in 2022
  • Market Estimates and Forecasts (2017-2030)
  • Brand Share and Market Share Analysis
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise
  • Competition Mapping and Benchmarking
  • Recommendation on Key Winning Strategies
  • COVID-19 Impact on Demand for North America LED Lighting and How to Navigate
  • Key Product Innovations and Regulatory Climate
  • North America LED Lighting Consumption Analysis
  • North America LED Lighting Production Analysis
  • North America LED Lighting and Management

 

 

Chapter 1 Methodology and Scope
                   1.1 Information Procurement
                   1.2 Purchased Database
                       1.2. Nova one Advisor’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, 2021
                   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, 2017 - 2030  
                           5.1.1.1 North America LED lighting market, by lamp type, 2017 - 2030  
                           5.1.1.2 North America LED lighting market, by luminaire type, 2017 - 2030  
                       5.1.2 North America LED lighting market, by application type, 2017 - 2030  
                       5.1.3 North America LED lighting market, by end-use, 2017 - 2030  
                   5.2 U.S.
                       5.2.1 U.S. LED lighting market, by product, 2017 - 2030  
                           5.2.1.1 U.S. LED lighting market, by lamp type, 2017 - 2030  
                           5.2.1.2 U.S. LED lighting market, by luminaire type, 2017 - 2030  
                       5.2.2 U.S. LED lighting market, by application type, 2017 - 2030  
                       5.2.3 U.S. LED lighting market, by end-use, 2017 - 2030  
                   5.3 Canada
                       5.3.1 Canada LED lighting market, by product, 2017 - 2030  
                           5.3.1.1 Canada LED lighting market, by lamp type, 2017 - 2030  
                           5.3.1.2 Canada LED lighting market, by luminaire type, 2017 - 2030  
                       5.3.2 Canada LED lighting market, by application type, 2017 - 2030  
                       5.3.3 Canada LED lighting market, by end-use, 2017 - 2030  
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

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