LED Lighting Market Size in North America to Grow by USD 5.81 Bn, Declining Manufacturing Cost of LEDs to Drive Growth -- Technavio

NEW YORK, Oct. 18, 2022 /PRNewswire/ -- The LED lighting market size in North America is expected to grow by USD 5.81 billion between 2021 and 2026. However, the growth momentum of the market will decelerate at a CAGR of 9.1% during the forecast period. The report analyses the market size, growth, and provides accurate predictions on the growth of the market.

Key Highlights

• The report recognizes the following as the key players in the LED lighting market in North America: Acuity Brands Inc., ams AG, Black Dog Grow Technologies Inc, Bridgelux Inc., Eaton Corp. Plc, among others.
• LED lighting market in North America is fragmented in nature.
• Market to observe 10.91% YOY growth in 2022.

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Market Dynamics

The LED lighting market in North America is expected to witness substantial growth during the forecast period, primarily due to the declining manufacturing cost of LEDs. The decline in cost is primarily due to government subsidies for semiconductor equipment, such as metal-organic chemical vapor deposition (MOCVD). Hence, LED manufacturers are ramping up their LED production capacities. Moreover, government support has enabled vendors to lower variable costs associated with manufacturing. This, in turn, will fuel market growth during the forecast period.

The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading our FREE PDF Sample Report 

Vendor Landscape

The North American LED lighting market is fragmented, characterized by the presence of well-diversified international and regional vendors. The vendors are deploying organic and inorganic growth strategies to compete in the market. Vendors are identified based on revenue and market dominance in terms of experience, product portfolio, geographical presence, financial condition, R&D, and customer base. The competitive environment in this market is expected to intensify, with an increase in product or service extensions, innovations in technology, and M&A.

Key Segments

The LED lighting market in North America is segmented by application into residential, commercial, industrial, outdoor, and others. The residential segment is expected to be the largest segment of the market during the forecast period. The segment is driven by the growing number of smart cities and increasing smart home penetration in the region. The rise in urban population impact leads an increase in the use of LED lighting systems. In addition, consumers are focusing on personalized lights for home decoration. To promote the use of energy-efficient lighting, governments of North American countries such as the US are offering subsidies on LED lighting, which is leading to a decline in the prices of LED lights. The sales of LED lights are expected to be high during the forecast period because of their benefits, including color tuning, brightness tuning, and a longer lifespan compared with other lights.

Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the LED lighting market in North America report: 

Market Player Information 

• Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
• Know the strategies adopted by vendors during the recovery phase. View our FREE PDF Sample Report

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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

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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