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.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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
- Analysis for Each Country
- Market by Product Type
- LED Lamps and Modules
- LED Fixtures
- Market by Application
- Retail and Hospitality
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
|Base Year of the Analysis
||Product Type, Application, Country
||United States, Canada, Mexico
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