LED Lighting Market in North America by Application and Product - Forecast and Analysis 2022-2026

Published: Sep 2022

Pages: 144

SKU: IRTNTR74004

Snapshot

The LED lighting market in North America is projected to grow by USD 5.81 billion with a CAGR of 9.1% during the forecast period 2021 to 2026.

This LED lighting market in North America research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the LED lighting market in North America segmentation by application (residential, commercial, industrial, outdoor, and others) and product (LED lamps and LED luminaires). The North American LED lighting market report also offers information on several market vendors, including Acuity Brands Inc., ams AG, Black Dog Grow Technologies Inc, Bridgelux Inc., Eaton Corp. Plc, EPISTAR Corp., General Electric Co., GrowRay Lighting Technologies, Kessil, Koninklijke Philips NV, LITE ON Technology Corp., LumiGrow Inc, Lumileds Holding BV, Sharp Corp., Signify NV, SMART Global Holdings Inc, Toyoda Gosei Co. Ltd., and Violet Gro Inc among others.

What will the LED Lighting Market Size in North America be During the Forecast Period?

Download Report Sample to Unlock the LED Lighting Market Size in North America for the Forecast Period and Other Important Statistics

LED Lighting Market in North America: Key Drivers, Trends, and Challenges

The declining manufacturing cost of LEDs is notably driving the LED lighting market in North America's growth, although factors such as the high average cost per LED fixture may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the LED lighting industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key LED Lighting Market in North America Driver

The declining manufacturing cost of LED is one of the key drivers supporting the North American LED lighting market growth. The decline in the manufacturing cost of LEDs is due to government subsidies for the purchase of semiconductor equipment, such as metal-organic chemical vapor deposition (MOCVD), which is used for manufacturing LEDs. This has encouraged LED manufacturers to ramp up their LED production capacities. In addition, government support has helped vendors reduce the variable costs associated with manufacturing by operating their manufacturing facilities at full capacity. This, in turn, will drive market growth during the forecast period.

Key LED Lighting Market in North America Trend

Growing traction for intelligent lighting systems is one of the key North American LED lighting market trends contributing to the market growth. In industrial applications, it is important to deploy lighting solutions that can operate for a long period and withstand industrial conditions without the need for frequent maintenance. LEDs are used in lighting control systems that have automated/mechanical capabilities. They use software to automate lighting operations. Intelligent lighting systems not only save energy but also provide valuable information that can be used for energy analysis and maintenance. Such factors will contribute to the market growth in the forecast period.

Key LED Lighting Market in North America Challenge

The high average cost per LED fixture is one of the factors hampering the North American LED lighting market growth. Though the total cost of owning LED lamps and fixtures is low when compared to traditional incandescent and halogen bulbs, the high initial cost acts as a hindrance. The total cost of installation includes the cost of LED luminaires and labor charges. In addition, consumers who install smart lighting fixtures require plenty of financial resources to set up an IoT infrastructure. The price of incorporating smart bulbs in a fixture also varies depending on the manufacturer. The price of products from major smart LED bulb manufacturers varies from $15 to $180. Such high costs will hamper the market growth during the forecast period.

This LED lighting market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio calculates the LED lighting market in North America as part of the electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the LED lighting market in North America during the forecast period.

Who are the Major LED Lighting Market Vendors in North America?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the North American LED lighting market encompasses successful business strategies deployed by the key vendors. The North American LED lighting market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

Eaton Corp. Plc - The company offers LED lighting that includes PRO APF AGS LED Airfield Guidance Sign, which is used on airport taxiways to mark taxi routes and intersections, depending on the governing standard, and to indicate the remaining runway distance.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.

LED Lighting Market in North America Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the North American LED lighting market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

What are the Revenue-generating Application Segments in the LED Lighting Market in North America?

To gain further insights on the market contribution of various segments Request a PDF Sample

The LED lighting market in North America's share growth by the residential segment will be significant during the forecast period. The LED lighting market in North America is gaining traction in the residential application segment in North America. This is primarily because of the growing number of smart cities and increasing smart home penetration in the region.

This report provides an accurate prediction of the contribution of all the segments to the growth of the North American LED lighting market size and actionable market insights on the post-COVID-19 impact on each segment.

LED Lighting Market in North America Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 9.1%
Market growth 2022-2026	$5.81 billion
Market structure	Fragmented
YoY growth (%)	10.91
Regional analysis	North America
Key consumer countries	US, Canada, and Mexico
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Acuity Brands Inc., ams AG, Black Dog Grow Technologies Inc, Bridgelux Inc., Eaton Corp. Plc, EPISTAR Corp., General Electric Co., GrowRay Lighting Technologies, Kessil, Koninklijke Philips NV, LITE ON Technology Corp., LumiGrow Inc, Lumileds Holding BV, Sharp Corp., Signify NV, SMART Global Holdings Inc, Toyoda Gosei Co. Ltd., and Violet Gro Inc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request PDF sample

What are the Key Data Covered in this LED lighting Market in North America Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive LED lighting market growth in North America during the next five years
Precise estimation of the LED lighting market size in North America and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the LED lighting industry in North America
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of LED lighting market vendors in North America

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 14: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Data Table on Regional - Market size and forecast 2021-2026 ($ million)
- Exhibit 16: Chart on North America: Year-over-year growth 2021-2026 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2021-2026 ($ million)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments
- Exhibit 25: Chart on Application - Market share 2021-2026 (%)
- Exhibit 26: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application
- Exhibit 27: Chart on Comparison by Application
- Exhibit 28: Data Table on Comparison by Application

5.3 Residential - Market size and forecast 2021-2026
- Exhibit 29: Chart on Residential - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Data Table on Residential - Market size and forecast 2021-2026 ($ million)
- Exhibit 31: Chart on Residential - Year-over-year growth 2021-2026 (%)
- Exhibit 32: Data Table on Residential - Year-over-year growth 2021-2026 (%)

5.4 Commercial - Market size and forecast 2021-2026
- Exhibit 33: Chart on Commercial - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Data Table on Commercial - Market size and forecast 2021-2026 ($ million)
- Exhibit 35: Chart on Commercial - Year-over-year growth 2021-2026 (%)
- Exhibit 36: Data Table on Commercial - Year-over-year growth 2021-2026 (%)

5.5 Industrial - Market size and forecast 2021-2026
- Exhibit 37: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
- Exhibit 39: Chart on Industrial - Year-over-year growth 2021-2026 (%)
- Exhibit 40: Data Table on Industrial - Year-over-year growth 2021-2026 (%)

5.6 Outdoor - Market size and forecast 2021-2026
- Exhibit 41: Chart on Outdoor - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Data Table on Outdoor - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Chart on Outdoor - Year-over-year growth 2021-2026 (%)
- Exhibit 44: Data Table on Outdoor - Year-over-year growth 2021-2026 (%)

5.7 Others - Market size and forecast 2021-2026
- Exhibit 45: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 48: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.8 Market opportunity by Application
- Exhibit 49: Market opportunity by Application ($ million)

6 Market Segmentation by Product

6.1 Market segments
- Exhibit 50: Chart on Product - Market share 2021-2026 (%)
- Exhibit 51: Data Table on Product - Market share 2021-2026 (%)

6.2 Comparison by Product
- Exhibit 52: Chart on Comparison by Product
- Exhibit 53: Data Table on Comparison by Product

6.3 LED lamps - Market size and forecast 2021-2026
- Exhibit 54: Chart on LED lamps - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on LED lamps - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on LED lamps - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on LED lamps - Year-over-year growth 2021-2026 (%)

6.4 LED luminaires - Market size and forecast 2021-2026
- Exhibit 58: Chart on LED luminaires - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on LED luminaires - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on LED luminaires - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on LED luminaires - Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by Product
- Exhibit 62: Market opportunity by Product ($ million)

7 Customer Landscape

7.1 Customer landscape overview
- Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation
- Exhibit 64: Chart on Market share by geography - 2021-2026 (%)
- Exhibit 65: Data Table on Market share by geography - 2021-2026 (%)

8.2 Geographic comparison
- Exhibit 66: Chart on Geographic comparison
- Exhibit 67: Data Table on Geographic comparison

8.3 US - Market size and forecast 2021-2026
- Exhibit 68: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 69: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 70: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 71: Data Table on US - Year-over-year growth 2021-2026 (%)

8.4 Canada - Market size and forecast 2021-2026
- Exhibit 72: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 73: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 74: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 75: Data Table on Canada - Year-over-year growth 2021-2026 (%)

8.5 Mexico - Market size and forecast 2021-2026
- Exhibit 76: Chart on Mexico - Market size and forecast 2021-2026 ($ million)
- Exhibit 77: Data Table on Mexico - Market size and forecast 2021-2026 ($ million)
- Exhibit 78: Chart on Mexico - Year-over-year growth 2021-2026 (%)
- Exhibit 79: Data Table on Mexico - Year-over-year growth 2021-2026 (%)

8.6 Market opportunity by geography
- Exhibit 80: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges
- Exhibit 81: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape
- Exhibit 82: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption
- Exhibit 83: Overview on factors of disruption

10.4 Industry risks
- Exhibit 84: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered
- Exhibit 85: Vendors covered

11.2 Market positioning of vendors
- Exhibit 86: Matrix on vendor position and classification

11.3 Acuity Brands Inc.
- Exhibit 87: Acuity Brands Inc. - Overview
- Exhibit 88: Acuity Brands Inc. - Business segments
- Exhibit 89: Acuity Brands Inc. - Key news
- Exhibit 90: Acuity Brands Inc. - Key offerings
- Exhibit 91: Acuity Brands Inc. - Segment focus

11.4 ams AG
- Exhibit 92: ams AG - Overview
- Exhibit 93: ams AG - Business segments
- Exhibit 94: ams AG - Key news
- Exhibit 95: ams AG - Key offerings
- Exhibit 96: ams AG - Segment focus

11.5 Eaton Corp. Plc
- Exhibit 97: Eaton Corp. Plc - Overview
- Exhibit 98: Eaton Corp. Plc - Business segments
- Exhibit 99: Eaton Corp. Plc - Key news
- Exhibit 100: Eaton Corp. Plc - Key offerings
- Exhibit 101: Eaton Corp. Plc - Segment focus

11.6 EPISTAR Corp.
- Exhibit 102: EPISTAR Corp. - Overview
- Exhibit 103: EPISTAR Corp. - Business segments
- Exhibit 104: EPISTAR Corp. - Key offerings
- Exhibit 105: EPISTAR Corp. - Segment focus

11.7 General Electric Co.
- Exhibit 106: General Electric Co. - Overview
- Exhibit 107: General Electric Co. - Business segments
- Exhibit 108: General Electric Co. - Key news
- Exhibit 109: General Electric Co. - Key offerings
- Exhibit 110: General Electric Co. - Segment focus

11.8 Koninklijke Philips NV
- Exhibit 111: Koninklijke Philips NV - Overview
- Exhibit 112: Koninklijke Philips NV - Business segments
- Exhibit 113: Koninklijke Philips NV - Key news
- Exhibit 114: Koninklijke Philips NV - Key offerings
- Exhibit 115: Koninklijke Philips NV - Segment focus

11.9 LITE ON Technology Corp.
- Exhibit 116: LITE ON Technology Corp. - Overview
- Exhibit 117: LITE ON Technology Corp. - Business segments
- Exhibit 118: LITE ON Technology Corp. - Key offerings
- Exhibit 119: LITE ON Technology Corp. - Segment focus

11.10 Lumileds Holding BV
- Exhibit 120: Lumileds Holding BV - Overview
- Exhibit 121: Lumileds Holding BV - Product / Service
- Exhibit 122: Lumileds Holding BV - Key offerings

11.11 Signify NV
- Exhibit 123: Signify NV - Overview
- Exhibit 124: Signify NV - Business segments
- Exhibit 125: Signify NV - Key news
- Exhibit 126: Signify NV - Key offerings
- Exhibit 127: Signify NV - Segment focus

11.12 SMART Global Holdings Inc
- Exhibit 128: SMART Global Holdings Inc - Overview
- Exhibit 129: SMART Global Holdings Inc - Business segments
- Exhibit 130: SMART Global Holdings Inc - Key offerings
- Exhibit 131: SMART Global Holdings Inc - Segment focus

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist
- Exhibit 132: Inclusions checklist
- Exhibit 133: Exclusions checklist

12.3 Currency conversion rates for US$
- Exhibit 134: Currency conversion rates for US$

12.4 Research methodology
- Exhibit 135: Research methodology
- Exhibit 136: Validation techniques employed for market sizing
- Exhibit 137: Information sources

12.5 List of abbreviations
- Exhibit 138: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

Purchase Report

PURCHASE FULL REPORT OF

led lighting market

Buy Report - Single User License 2500 USD

QUICK BUY

Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

Why should you prefer Technavio's market insights report?

Off-the-shelf research reports
Reports can be tailored to meet the customer's needs
Trusted by more than 100 fortune 500 organizations
Information about the market's key drivers, trends, and challenges
Parent market analysis
Every week, 50,000 people visit our subscription platform
Detailed vendors report with competitive landscape
Covid-19 impact and recovery analysis
Data on revenue-generating market segments
Details on the market shares of various regions
Five-force market analysis