Press release
North America LED Lighting Market to Reach US$ 29.79 Billion by 2027, Spurred by Rising Demand for Energy-Efficient Products
North America Led Lighting Market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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North America Led Lighting Market Trends:
One of the key factors driving the LED lighting market in North America is the increasing demand for smart lighting solutions to conserve energy. In line with this, rapid expansion in smart city projects, along with the rising environmental consciousness, has led to a significant increase in the usage of LEDs in public construction projects, which is acting as another major growth-inducing factor. Additionally, the rising awareness toward the benefits associated with LED lighting solutions, such as higher operational life and lower maintenance, is further facilitating the overall product sales across the region.
Moreover, The Federal Government of the United States (US Federal Government) is undertaking several initiatives to promote the use of energy-efficient technologies, which, in turn, is expanding the applications of LED across various establishments. Besides this, LEDs are increasingly being used in aviation, general lighting, medical devices, camera flashes, automotive headlamps, and traffic signals, which is expected to drive the market further toward growth.
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North America Led Lighting Market 2022-2027 Analysis and Segmentation:
Breakup by Product Type:
• LED Lamps and Modules
• LED Fixtures
Breakup by Application:
• Retrofit
• Retail and Hospitality
• Outdoor
• Offices
• Architectural
• Residential
• Others
Breakup by Region:
• United States
• Canada
• Mexico
Competitive Landscape :
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Highlights of the Report:
• Market Performance 2016-2021
• Market Outlook 2022-2027
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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