North America LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
North America LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The North America LED lighting market size reached US$ 18.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.6 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.
Light-emitting diodes (LED) are semiconductor devices that produce non-coherent and narrow spectrum light when forward voltage is applied. As compared to conventional lights, LED lights are environment-friendly in nature and they save around 90% of the overall energy consumption. Some of the other advantages associated with LED lights include reliability, compact size, fast switching, longer lifespan, improved physical robustness, low heat output and minimum radiation emission. LED lights require a constant-current DC power source rather than a standard AC line voltage. Owing to this, LED lights find wide applications in industries such as automobiles, real estate, infrastructures, and consumer electronics.
The North America LED lighting market is currently being driven by several factors. The booming lighting industry can be accredited to the rising demand for energy-efficient products and up-gradation of existing products with LEDs. Moreover, the technological innovations, increasing awareness among consumers about the benefits associated with LEDs and the rising environmental concerns have stimulated the market growth in the region. In addition to this, several applications of LEDs in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, street lighting, academics and research purposes have also spurred their demand. Furthermore, the increasing marketing initiatives by manufacturers, through various advertising mediums such as newspaper, television, etc., have catalyzed the growth of LED market in the region.
IMARC Group’s latest report provides a deep insight into the North America LED lighting market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America LED lighting market in any manner.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America LED lighting market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Key Regions Analysed
United States
Canada
Mexico
Analysis for Each Country
Market by Product Type
LED Lamps and Modules
LED Fixtures
Market by Application
Retrofit
Retail and Hospitality
Outdoor
Offices
Architectural
Residential
Others
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles
Key Questions Answered in This Report:
How has the North America LED lighting market performed so far and how will it perform in the coming years?
What are the key regions in the North America LED lighting market?
What has been the impact of COVID-19 on the North America LED lighting market?
What is the breakup of the North America LED lighting market on the basis of product type?
What is the breakup of the North America LED lighting market on the basis of application?
What are the various stages in the value chain of the North America LED lighting industry?
What are the key driving factors and challenges in the North America LED lighting industry?
What is the structure of the North America LED lighting industry and who are the key players?
What is the degree of competition in the North America LED lighting industry?
What are the profit margins in the North America LED lighting industry?
The North America LED lighting market size reached US$ 18.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.6 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.
Light-emitting diodes (LED) are semiconductor devices that produce non-coherent and narrow spectrum light when forward voltage is applied. As compared to conventional lights, LED lights are environment-friendly in nature and they save around 90% of the overall energy consumption. Some of the other advantages associated with LED lights include reliability, compact size, fast switching, longer lifespan, improved physical robustness, low heat output and minimum radiation emission. LED lights require a constant-current DC power source rather than a standard AC line voltage. Owing to this, LED lights find wide applications in industries such as automobiles, real estate, infrastructures, and consumer electronics.
The North America LED lighting market is currently being driven by several factors. The booming lighting industry can be accredited to the rising demand for energy-efficient products and up-gradation of existing products with LEDs. Moreover, the technological innovations, increasing awareness among consumers about the benefits associated with LEDs and the rising environmental concerns have stimulated the market growth in the region. In addition to this, several applications of LEDs in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, street lighting, academics and research purposes have also spurred their demand. Furthermore, the increasing marketing initiatives by manufacturers, through various advertising mediums such as newspaper, television, etc., have catalyzed the growth of LED market in the region.
IMARC Group’s latest report provides a deep insight into the North America LED lighting market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America LED lighting market in any manner.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America LED lighting market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Key Regions Analysed
United States
Canada
Mexico
Analysis for Each Country
Market by Product Type
LED Lamps and Modules
LED Fixtures
Market by Application
Retrofit
Retail and Hospitality
Outdoor
Offices
Architectural
Residential
Others
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles
Key Questions Answered in This Report:
How has the North America LED lighting market performed so far and how will it perform in the coming years?
What are the key regions in the North America LED lighting market?
What has been the impact of COVID-19 on the North America LED lighting market?
What is the breakup of the North America LED lighting market on the basis of product type?
What is the breakup of the North America LED lighting market on the basis of application?
What are the various stages in the value chain of the North America LED lighting industry?
What are the key driving factors and challenges in the North America LED lighting industry?
What is the structure of the North America LED lighting industry and who are the key players?
What is the degree of competition in the North America LED lighting industry?
What are the profit margins in the North America LED lighting industry?
Table of Contents
115 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global LED Lighting Market
- 5.1 Market Performance
- 5.2 Market Breakup by Product Type
- 5.3 Market Breakup by Application
- 5.4 Market Breakup by Region
- 5.5 Market Forecast
- 6 North America LED Lighting Market
- 6.1 Market Performance
- 6.2 Impact of COVID-19
- 6.3 Market Forecast
- 7 North America LED Lighting Market: Breakup by Product Type
- 7.1 LED Lamps and Modules
- 7.2 LED Fixtures
- 8 North America LED Lighting Market: Breakup by Application
- 8.1 Retrofit
- 8.2 Retail and Hospitality
- 8.3 Outdoor
- 8.4 Offices
- 8.5 Architectural
- 8.6 Residential
- 8.7 Others
- 9 North America LED Lighting Market: Breakup by Country
- 9.1 United States
- 9.1.1 Historical Market Trends
- 9.1.2 Market Breakup by Product Type
- 9.1.3 Market Breakup by Application
- 9.1.4 Market Forecast
- 9.2 Canada
- 9.2.1 Historical Market Trends
- 9.2.2 Market Breakup by Product Type
- 9.2.3 Market Breakup by Application
- 9.2.4 Market Forecast
- 9.3 Mexico
- 9.3.1 Historical Market Trends
- 9.3.2 Market Breakup by Product Type
- 9.3.3 Market Breakup by Application
- 9.3.4 Market Forecast
- 10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
- 11 Value Chain Analysis
- 11.1 Overview
- 11.2 Primary Raw Material Suppliers
- 11.3 LED Chip Manufacturers
- 11.4 LED Package and Module Manufacturers
- 11.5 Lighting/Electronic/Automotive Products Manufacturers
- 11.6 Product Distribution/Export
- 11.7 End-User
- 12 Porter’s Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Rivalry
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
Pricing
Currency Rates
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