North America Commercial LED Lighting Market Report and Forecast 2024-2032

North America Commercial LED Lighting Market Outlook

The North America commercial LED lighting market size was valued at USD 7.70 billion in 2023. The market is further projected to grow at a CAGR of 8.0% between 2024 and 2032, reaching a value of USD 15.80 billion by 2032.

Key Takeaways

• LED lights are highly energy efficient and consume up to 75% less power than traditional incandescent bulbs.

• Compared to conventional incandescent bulbs, LED lights have a long lifespan lasting up to 25 times longer.

• There is a growing demand for smart LED lighting that can be controlled via mobile applications or connected to other smart devices.

According to the North America commercial LED lighting market analysis, the demand for commercial LED lighting is rising in offices, malls, businesses, government buildings, and restaurants. These lights are available in types, such as tube lights, troffer lights, high and low bay lights, vapour tight lights, and flood lights. The demand for LED lighting is driven by its various benefits such as energy efficiency, longevity, cost-effectiveness, and environmental sustainability.

Compared to conventional incandescent bulbs, LED lights require less maintenance and replacement costs and have a longer life resulting in less waste going to landfills. LED lighting can save businesses thousands of dollars due to reduced energy bills and fewer replacements. Further, according to Natural Resources Canada, ENERGY STAR-certified LEDs are up to 90% more efficient compared to incandescent bulbs.

Commercial buildings in Canada consume around 30% of the country's total energy, with a considerable portion being attributed to lighting, heating, cooling, and ventilation systems. As a result, the Canadian government offers rebates to help offset the costs of switching to LED lighting for businesses and enhance their energy efficiency, impacting the North America commercial LED lighting market growth. The United States government is extensively promoting the adoption of energy-efficient LED lighting by enhancing its procurement practices and expenditure on LED lights. The federal government gets its energy-efficient light supplies from the General Service Administration (GSA).

Market Segmentation

North America Commercial LED Lighting Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.

Market Breakup by Type

• Troffers

• Downlights

• High Bay

• Track Lights

• Suspended Pendants

• Others

Market Breakup by Application

• Retail Stores

• Office

• Hospitality Sector

• Architectural Sector

• Others

Market Breakup by Distribution Channel

• Direct Sales

• Retail/Wholesale

Market Breakup by Country

• United States of America

• Canada

Competitive Landscape

The key players in the commercial LED lighting market in North America are producing high-quality commercial LED Lighting products to meet the consumer’s needs for energy efficiency.

• Cree Lighting USA LLC

• Votatec Group Corp.

• OSRAM GmbH

• Acuity Brands, Inc.

• Constellation Lighting U.S

• Signify Holding Inc.

• Technical Consumer Products, Inc.

• Nora Lighting

• Cooper Lighting, LLC

• Eaton Corporation PLC

• Others

Key Highlights of the Report