LONDON--(BUSINESS WIRE)--Technavio has been monitoring the LED lighting market in North America since 2014 and the market is poised to grow by USD 6.73 billion during 2018-2022, progressing at a CAGR of almost 12% during the forecast period. Request free sample pages
Read the 125-page report with TOC on “LED Lighting Market in North America Analysis Report by Application (Residential, Commercial, Industrial, Outdoor, and Others), Product (LED lamps and LED luminaires), and the Segment Forecasts, 2018-2022.”
The market is driven by the declining manufacturing costs of LEDs. In addition, the rising demand for intelligent lighting systems is anticipated to boost the growth of the LED lighting market.
Since 2012, the manufacturing cost of LEDs has declined steadily and is expected to reduce further during the forecast period. This is due to the decrease in the average selling prices of chips and components used in the manufacturing of LED devices. The decline in the cost of LEDs has reduced the initial investment cost of LED lighting lamps and fixtures. These factors are driving the growth of the LED lighting market in North America.
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Major Five LED Lighting Market Companies:
Acuity Brands operates its business through the Lighting and building management solutions segment. The company offers a wide range of LED lighting products. Some of its key offerings include 308 WINLINE, Juno SlimForm (JSF) Downlight, and IBG High Bay.
Cree operates its business through segments such as Lighting Products, LED Products, and Wolfspeed. The company offers a wide range of LED lighting products. BR30, DR Series, and RSW Series are some of its key offerings.
Eaton operates its business through segments such as Electrical Products and Electrical Systems and Services, Hydraulics, Aerospace, and Vehicle. Some of the key offerings of the company include Altus LED Low Bay, HBLED SE and HE Series, LBLED High Bay, SNLED Series, Steeler LED High Bay, VHB LED High Bay, and Visium LED High Bay.
GENERAL ELECTRIC operates its business through segments such as Power, Aviation, Lighting, Renewable Energy, Healthcare, Oil and Gas, and Transportation. The company offers a wide range of LED lighting products. Some of its key offerings include Albeo LED Luminaire – ABV3, Evolve LED Area Light – EALS, and Lumination LED Luminaire – LUS Series.
Koninklijke Philips operates its business through segments such as Personal Health businesses, Diagnosis & Treatment businesses, Connected Care and Health Informatics businesses, HealthTech Other, and Legacy Items. GentleSpace gen2, Greenperform Highbay G2, CoreLine Highbay, GreenPerform Highbay LED, and Smartbright WT200/201 waterproof are some of the key offerings of the company.
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LED Lighting Product Outlook (Revenue, USD Billion, 2018 - 2022)
- LED lamps
- LED luminaires
LED Lighting Application Outlook (Revenue, USD Billion, 2018 - 2022)
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