According to IMARC Group’s latest report, titled “US LED Downlight Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the US LED downlight market share.
The US LED downlight market size reached US$ 3.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2027, exhibiting a growth rate (CAGR) of 8% during 2022-2027. LED downlight represents recessed light fixtures that can be mounted into a hollow opening in a ceiling. They are available in numerous types, such as luminaires, lamps, retrofits, etc. These LED downlight products are extremely energy efficient and eco-friendly. They emit light in the downward direction with a narrow beam and have a relatively longer lifespan and lower heat radiation. As a result, LED downlight items find extensive applications across various sectors in the United States, including retail, hospitality, commercial, manufacturing, residential, industrial, etc.
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US LED Downlight Market Trends:
The elevating environmental consciousness and the growing awareness about the sustainable properties of LED lighting, which include lower electricity consumption and minimized radiation of ultraviolet (UV) rays, are among the key factors driving the US LED downlight market. In addition to this, the shifting preferences toward using LED lights for outdoor lighting systems, on account of their ability to endure extreme weather conditions and external shocks and vibrations, are acting as significant growth-inducing factors. Besides this, the growing construction activities and the inflating prices of electricity are further stimulating the market across the country. Moreover, the launch of several favorable policies by the government bodies aimed at encouraging the incorporation of LED lights in multiple infrastructural projects is also positively influencing the market growth. Apart from this, the rising expenditure on research and development (RD) activities by leading players and the elevating adoption of aggressive marketing techniques by the brands to spread consumer awareness are expected to bolster the US LED downlight market over the forecasted period.
US LED Downlight Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the US led downlight market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Acuity Brands Inc.
- Bridgelux Inc.
- Cree Inc.
- Eaton Corporation
- Everlight Electronics
- Feit Electric Company Inc.
- General Electric Company
- Hubbell Incorporated
- Lsi Industries
- Osram Licht Ag
- Phillips Electronics
- Samsung Electronics Co. Ltd.
Key Market Segmentation:
The report has segmented the US led downlight market on the basis of product type, application and region.
Breakup by Product Type:
- Luminaire
- Lamp and Retrofits
Breakup by Application:
- Retrofit
- Retail Hospitality
- Outdoor
- Offices
- Architectural
- Residential
- Manufacturing
- Others
Breakup by Region:
- South
- West
- Northeast
- Midwest
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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