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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
United States LED Lighting Market Trends
Installing smart LED bulbs is the easiest method for citizens to begin upgrading homes and provides homeowners with remote control over their electricity consumption. Educational institutes, such as the University of Michigan also uses smart LED lights owing to their extended lifetime and energy efficiency.
There is a rise in the number of high-tech plant factories across the United States adopting indoor farming and LED lights to overcome the loss of crops created due to climate change. LEDs enable the speedy year-round crop cycles in addition to positively impacting the quality and levels of vitamins and antioxidants present in plants.
The Smart Street Lighting NY program launched by the New York government in 2018 aims at replacing at least half of New York's more than 1 million streetlights with sustainable and energy-efficient alternatives, such as LED lighting, by 2025. Further, several programs and incentives provided by utility providers in New York, such as Central Hudson Commercial Lighting Prescriptive Rebates, Con Edison Instant Lighting Incentives and Con Edison Lighting and Controls, among others, are expected to encourage citizens to install and upgrade their traditional lighting to LED lighting.
By 2035, the US is likely to witness a widespread adoption of LED lighting and according to the U.S. Department of Energy, it can result in energy savings of about 569 TWh per year.
United States LED Lighting Market Report Snapshots
United States LED Lighting Market Size
United States LED Lighting Market Growth
United States LED Lighting Market Trends
United States LED Lighting Market Share
United States LED Lighting Manufacturers
United States LED Lighting Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 11.77 billion in 2023.
The market is estimated to grow at a CAGR of 5.3% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 19.38 billion by 2032.
The key types are bulb, downlight, streetlight, tube lights, high bay, troffers, track lights, suspended pendants, and others.
The key regional markets for LED lighting are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The end uses include residential, commercial, industrial, and highway and roadway.
The key technologies include smart LED lighting and regular LED lighting.
The key players in the market include Signify N.V., ams-OSRAM AG, Eaton Corporation plc, Acuity Brands, Inc, SMART Global Holdings, Inc, GE Lighting, Inc., and Hubbell Incorporated, among others.
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