United States Led Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The US LED market is expected to register a CAGR of 9.8% over the forecast period. The increasing demand for energy-efficient lighting systems, declining prices of LED (light emitting diode) products, and stringent government regulations are the major factors driving the adoption of LED lighting in United States. LEDs are undergoing rapid technological and economic development as a new source of illumination in the country by investing in the sector. The US government is one of the significant adopters, innovators, and investors in the global LED market. LED lighting is available in various industrial and home products in the domestic space, and its demand has increased significantly.
Key HighlightsThe US LED market is competitive in nature. The market is highly concentrated due to various small and large players. All major players account for a significant market share and focus on expanding their consumer base worldwide. Some of the significant players in the market are Emerson Electric Co., Signify Holding (Philips Lighting), OSRAM Sylvania Inc. (OSRAM Licht Group), Nichia Corporation, Acuity Brands Inc., and many more.
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