Building Lighting Control System Manufacturing in the US - Industry Market Research Report

Building Lighting Control System Manufacturing in the US - Industry Market Research Report

Building Lighting Control System Manufacturing in the US

Building Lighting Control System Manufacturers make components and develop software for building lighting control systems. Manufacturers derive their demand from a few different places. Downstream demand comes primarily from four markets, residential, commercial, industrial and institutional. Throughout the period, there has been a varying degree of demand from each market. During COVID-19, demand from all markets except residential clients was crushed. Following COVID-19, office buildings remained at a heightened vacancy rate as many companies continued remote work. On top of these harmful macroeconomic trends, import penetration remains the single largest threat to manufacturers during the period. The rapid appreciation of the US dollar has increased the presence of imports in the US economy, as US buyers purchase from foreign manufacturers since the US dollar is worth more in foreign economies. Due to numerous disruptions in downstream markets, industry-wide revenue has been falling at a CAGR of 4.2% to an expected $1.6 billion in 2023, when revenue is estimated to fall another 1.5%.

Companies in the Building Lighting Control System Manufacturing industry manufacture components and develop software for building lighting control systems. These systems include components and software that control communication with switches, motion sensors and light sensors to provide flexible scheduling, daylight harvesting, occupancy control, personal control and load shedding.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market