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North America Cabinet LED Lighting Market Report Analysis 2022, Growth Prospects, Industry Size, Company Share, Major Competitors, Regional Segments, Strategies and Forecast to 2028
The North America cabinet LED lighting market is expected to grow from US$ 1,983.30 million in 2021 to US$ 3,691.22 million by 2028. It is estimated to grow at a CAGR of 9.3% from 2022 to 2028.View Full Report @ https://www.businessmarketinsights.com/reports/north-america-cabinet-led-lighting-market?utm_source=OpenPR&utm_medium=10405
The latest North America Cabinet LED Lighting Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as most wide-ranging documentation that comprises all the aspects of the evolving North America Cabinet LED Lighting market.
Cabinet LED lighting is a small and inconspicuous light source virtually invisible and can be easily installed. Government initiatives toward sustainable green energy, such as net-zero emission by 2050 and the ENERGY STAR program by the US Environmental Protection Agency and the US Department of Energy, are promoting energy efficiency. Cabinet LED lighting offers many advantages, such as low cost and energy bills, and minimum energy consumption, which attract many consumers to install cabinet LED lighting. Thus, these energy efficiency initiatives are positively impacting the cabinet LED lighting market growth. The rising adoption of LED lighting in kitchen cabinets and cupboards and the growing number of new homes would create lucrative opportunities for the North American cabinet LED lighting market players during the forecast period.
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://www.businessmarketinsights.com/sample/TIPRE00029277?utm_source=OpenPR&utm_medium=10405
Companies Profiled in this report includes:
• ACUITY BRANDS, INC
• Kichler Lighting LLC
• Hafele America Co
• GM Lighting
• Savant System Inc
• Black+Decker Inc
• SGi Lighting Inc
• RAB Design Lighting
• Phantom Lighting Systems
• WAC Lighting
North America Cabinet LED Lighting Market: By Type
Based on type, the North America cabinet LED lighting market is segmented into in-cabinet lighting and under-cabinet lighting. The under-cabinet lighting segment dominates the market due to the increasing proliferation of cabinet LED lighting in the kitchen. The in-cabinet lighting segment is anticipated to register a higher CAGR during the forecast period. In-cabinet lighting for shelf lighting can be used for decorative purposes, such as open shelving or utility, when additional illumination is required. The most common type of lighting is linear lighting, which is hidden behind the frame or recessed beneath the shelf.
Impact of COVID-19 Pandemic on North America Cabinet LED Lighting Market
The number of hotel construction or renovation projects reduced significantly in the US, Canada, and Mexico in 2020, which showcased poor demand for cabinet LED lighting. The federal government's restrictions on construction activities and workers' movement in North America declined the demand for kitchen cabinet LED lighting. This resulted in slow growth of the cabinet LED lighting market. However, the lockdown caused due to the COVID-19 pandemic has prompted residential and commercial customers to adopt energy-efficient cabinet LED lighting to save money. Also, the cabinet LED lighting market size is expected to grow between 2022 and 2023 owing to increased residential building construction, improved supply chain system, surged demand for kitchen cabinet lighting, and government incentives and policy support.
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