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. Downlights or recessed lights are light fixtures that are installed above the ceiling to add illumination, sophistication, and style to any living area. LED downlight is an energy-efficient and eco-friendly lighting solution, which is easy to install and has a low maintenance cost and flexible designs. They offer a relatively longer lifespan, minimal energy consumption, and better heat dissipation than conventional lighting systems. LED downlights can also endure external shocks, extreme weather conditions, and vibrations, making them most suitable for outdoor environments. As a result, the LED downlight is witnessing a considerable demand across the United States and is extensively used in living rooms, hospitals, shopping malls, offices, showrooms, kitchens, and bathrooms.
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US LED Downlight Market Trends:
The United States LED downlight market is primarily driven by the rising environmental consciousness and growing awareness regarding the sustainable properties of LED lighting. In line with this, the surging construction activities and the growing prices of electricity across the country are providing a considerable boost to the market growth. Additionally, the Federal Government of the United States (US Federal Government) is undertaking several initiatives toward encouraging the widespread incorporation of LED lights in various infrastructural projects, which is creating a positive outlook for the market. Other factors, such as increasing investments in research and development (RD) activities by key players and the adoption of aggressive marketing techniques by brands, are positively supporting the market growth.
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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