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US LED Market 2021 Competitive Insights and Outlook- Acuity Brands Inc., Cree Inc., GE Lighting (General Electric Co.), Eaton Corporation,
The US LED Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The US LED market was valued at USD 9.93 billion in 2019 and is expected to register a CAGR of 12.6% over the forecast period (2020-2025).
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Competitive Landscape:
Top Companies: Acuity Brands Inc., Cree Inc., GE Lighting (General Electric Co.), Eaton Corporation, Hubbell Incorporated, Feit Electric Company Inc., OSRAM Licht AG, Philips Lighting, Samsung Electronics Co. Ltd., Bridgelux Inc.
Industry News and Updates:
In Nov 2017, Cree launched KBL LED High-Bay Series, a solution for various applications such as retail, civic, and industrial. As a result, it is projected to attract new and existing customers. Further in Jan 2018, Feit Electric Company launched a LED product line complying with the California energy commission standards, which is likely to drastically boost the companys presence and help in enticing new consumers.
Key Market Trends:
The alternatives to incandescent light bulbs, which are energy efficient, have been available for a long time. Since the past few years, market conditions have been favoring and LED bulbs are poised for widespread consumer adoption.
Moreover, price decrease, energy savings, and an independent certification for rigorous performance standards are bolstering customer satisfaction. Traditional incandescent light bulbs comprising of 100-40W bulbs have catered to the basic lighting needs in the country for more than a century. However, 90% of the energy used is wasted as heat and only 10% is used to deliver light.
The adoption of LED bulbs has been majorly augmented by the Energy Independence and Security Act (EISA) of 2007 general service lamp standards. The maximum wattage standards, which began to take effect from 2012, requires a 25% efficiency increase for all general service lamps.
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What are the market influences that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global US LED Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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