US Indoor LED Lighting Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 5.33 Billion |
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Market Size (2030) | USD 6.49 Billion |
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Largest Share by Indoor Lighting | Commercial |
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CAGR (2024 - 2030) | 3.31 % |
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Fastest Growing by Indoor Lighting | Industrial and Warehouse |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
US Indoor LED Lighting Market Analysis
The US Indoor LED Lighting Market size is estimated at 5.33 billion USD in 2024, and is expected to reach 6.49 billion USD by 2030, growing at a CAGR of 3.31% during the forecast period (2024-2030).
5.33 Billion
Market Size in 2024 (USD)
6.49 Billion
Market Size in 2030 (USD)
1.11 %
CAGR (2017-2023)
3.31 %
CAGR (2024-2030)
Largest Segment by Indoor Lighting
65.29 %
value share, Commercial, 2023
In the United States, Canada was the largest foreign investor in commercial real estate, with cross-border flows of almost USD 19 billion in 2021.
Largest Segment by Commercial
30.58 %
value share, Retail, 2023
Retail sales in the United States grew significantly from USD 3 trillion in 2000 to nearly USD 6.6 trillion in 2021. Total retail sales grew by 8.9% Y-o-Y in 2022, indicating more use of LED lights in the country.
Fastest-growing Segment by Indoor Lighting
6.89 %
Projected CAGR, Industrial and Warehouse, 2024-2030
The cost of business logistics in the US amounted to more than USD 1.6 trillion in 2023, accounting for around 8% of the GDP, further promoting number of warehouses and industries.
Fastest-growing Segment by Commercial
4.54 %
Projected CAGR, Office, 2024-2030
The floor space of commercial buildings is projected to increase by 35% from 2021 to 2050, reaching a total of 124.6 billion meters by 2050. This indicates further usage of LED lights in offices.
Leading Market Player
45.90 %
market share, Acuity Brands Inc., 2022
Acuity Brands is one of the largest lighting manufacturers in the United States. The company is focused on expanding its lighting portfolio and geographic reach, which would thereby help the company strategically increase its customer base.
The increasing disposable income, government investments, and rising commercial construction in the region drive the growth of led lighting market
- In terms of value share, in 2023, commercial accounted for the majority of the share, followed by industrial and warehouse, and residential. The main factors contributing to the growth of the industrial sector's resilience are changes in labor force levels in China, less regulatory burden for US production than European counterparts, and greater vitality of manufacturing income relative to the United States Gross Domestic Product.
- In terms of volume share, in 2023, commercial accounted for the majority of the share, followed by the residential sector and industrial and warehouse sector. America's need for storage space is advancing toward a brighter future. With the acceleration of e-commerce, the warehousing industry may see more growth opportunities than ever. The US retail e-commerce sales in Q3 2020 are estimated at USD 209.5 billion. This is a 36.7% increase over Q3 2019.
- The construction industry is a growth industry in all areas. These include builders, contractors, and civil engineers in the private and commercial sectors. Employment in the construction and mining sector is expected to increase by 4% from 2019 to 2029, about the same rate as the average for all jobs. Part of the driver of this growth is the increasing demand for new buildings, roads, and other structures due to population growth.
- In 2022, there were 33.2 million small businesses in the United States. The five fast-growing startups are headquartered in San Francisco. 40% of US startups have at least one woman in leadership. Over 65% of small businesses reported profits in 2022. The above instances are expected to create more demand for Indoor LEDs in the coming years.
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US Indoor LED Lighting Market Trends
Increase in the number of private-owned dwellings and government regulations to drive the market for LEDs
- As of 2021, there were around 124 million households in the United States. Person per household between 2017 and 2021 was 2.6 persons, and the total housing units registered were 143.7 million by 2022. Furthermore, the population in 2020 was 331.4 million, which increased to 333.2 million by 2022, representing 0.6% growth. The owner-occupied housing unit rate was 64.6%, which is higher. Considering the above instances, it suggested that the household size is smaller and requires new housing units, and the population is growing, which also represents the same. Such instances are expected to create more LED penetration for the need for illumination in the country. In the United States, disposable income is growing, resulting in the rising spending power of individuals who can spend more on new residential spaces. The United States per Capita income reached USD 36,430 in December 2021, compared with USD 33,740.8 in December 2020. Compared to other developing nations, the US is getting more. For instance, Mexico had a per capita income of USD 2,639.7 as of 2020, and Canada had USD 29,330, which is lower.
- The number of privately owned home starts in May was 1,631,000 on an annual basis. This is 5.7% above the May 2022 rate of 1,543,000 and is 21.7% higher than the revised April 2023 estimate of 1,340,000. As per the Energy Policy Act (EPAct) section 179D, the maximum tax deduction jumped to USD 5 per sq. ft. of upgraded space in 2023 under the new regulations. Which had USD 1.88 per sq. ft. deductions in 2022 (but is set to rise to USD 2.00 per sq. ft.). Eligible projects include those related to interior lighting, HVAC, and building envelopes. Such instances are further expected to surge the demand for LED lighting in the country.
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Increase in LED installation by 72% in commercial buildings, 56% in residential houses, and 83% in industries by 2025 to drive the growth of the LED market
- The combined consumption of residential and commercial lighting in the United States was roughly 213 billion kWh. From roughly 1.4 billion units installed in 2017 to over 7.9 billion units in 2035, the number of LED light installations in the US is rising. By 2025, 72% of commercial, 56% of residential, and 83% of industrial structures are expected to have LED lighting installed. There were 142 million housing units in the US in 2021, an increase of 200,000 from the previous year. In comparison to 2020, when the entire housing stock stood at 140.8 million units, there represented an increase of nearly one million. The growth of LED will be influenced by the rise in housing stock.
- Electricity demand in the commercial sector tends to be highest during operating business hours. Usually, in a day, it is around 8-10 hours. Electricity use in the industrial sector tends not to fluctuate through the day or year. Electricity demand in the residential sector varies for about 7 to 9 hours. In addition, the City of Chicago completed the Chicago Smart Lighting Programme in February 2022, which replaced more than 280,000 outdated streetlights with high-efficiency LED lights to improve visibility at night and save Chicago taxpayers an estimated USD 100 million in electricity costs over the next ten years.
- The Michigan Department of Transportation and Motorway Lighting Partner LLC entered a 15-year deal to jointly fund, construct, and design upgrades to existing tunnel lighting systems and motorways for the maintenance of the existing and improved lighting systems. LEDs can help with energy efficiency and conservation, which helps the nation's citizens save money on electricity use.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increase in the number of households to drive the growth of the LED market
- Reduction in imports from China to lead the growth of the LED lighting market in the country
- The LED market is driven by indoor farming and government incentives for the development of horticulture industry in the region
- About 75% of the population is expected to own a car, and the shifting trend toward larger vehicles to drive the growth of LED lighting
- LED penetration is driven by LED certification for commercial spaces, which increased by 30% in 2022
US Indoor LED Lighting Industry Overview
The US Indoor LED Lighting Market is fairly consolidated, with the top five companies occupying 78.72%. The major players in this market are Acuity Brands Inc., Cree LED (SMART Global Holdings Inc.), Current Lighting Solutions, LLC., NVC International Holdings Limited and Signify (Philips) (sorted alphabetically).
US Indoor LED Lighting Market Leaders
Acuity Brands Inc.
Cree LED (SMART Global Holdings Inc.)
Current Lighting Solutions, LLC.
NVC International Holdings Limited
Signify (Philips)
Other important companies include Dialight, EGLO Leuchten GmbH, Feit Electric Company Inc., LEDVANCE GmbH (MLS Co. Ltd), OSRAM GmbH.
*Disclaimer: Major Players sorted in alphabetical order.
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US Indoor LED Lighting Market News
- April 2023: Luminis, a recognized innovator and manufacturer of specification-grade lighting systems, has developed the Inline series of external luminaires. With various heights and lighting module options, inline bollards and columns elevate outside areas.
- April 2023: Luminaire LED, a recognized leader in vandal-resistant lighting systems, announced the launch of its Vandal Resistant Downlight (VRDL) line, the company's first downlight. The architecturally designed series has a clean, elegant style while also being able to withstand hard abuse and demanding situations.
- March 2023: Cree LED has introduced its J Series 5050C E Class LEDs, which have the best efficacy for high-power LEDs: 228 lumens per watt (LPW), typical at 4000K, 70 CRI, and 1W. At the same efficacy level, the new J Series LEDs produce up to three times the light output of competitive 5050 LEDs.
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We provide a complimentary and exhaustive set of data points on the country and regional level metrics that present the fundamental structure of the industry. Presented in the form of 40+ free charts, the sections cover difficult to find data on various countries on Automotive Production, Lighting Electricity Consumption, Road Network, Number of Stadiums, Number of Charging Stations among others.
US Indoor LED Lighting Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. Per Capita Income
2.3. Total Import Of LEDs
2.4. Lighting Electricity Consumption
2.5. # Of Households
2.6. LED Penetration
2.7. Horticulture Area
2.8. Regulatory Framework
2.8.1. United States
2.9. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Indoor Lighting
3.1.1. Agricultural Lighting
3.1.2. Commercial
3.1.2.1. Office
3.1.2.2. Retail
3.1.2.3. Others
3.1.3. Industrial and Warehouse
3.1.4. Residential
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
4.4.1. Acuity Brands Inc.
4.4.2. Cree LED (SMART Global Holdings Inc.)
4.4.3. Current Lighting Solutions, LLC.
4.4.4. Dialight
4.4.5. EGLO Leuchten GmbH
4.4.6. Feit Electric Company Inc.
4.4.7. LEDVANCE GmbH (MLS Co. Ltd)
4.4.8. NVC International Holdings Limited
4.4.9. OSRAM GmbH
4.4.10. Signify (Philips)
5. KEY STRATEGIC QUESTIONS FOR LED CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- HUMAN POPULATION IN MILLION, NUMBERS, UNITED STATES, 2017 - 2030
- Figure 2:
- PER CAPITA INCOME, USD, UNITED STATES, 2017 - 2030
- Figure 3:
- VALUE OF LED IMPORTS, USD MILLION, UNITED STATES, 2017 - 2030
- Figure 4:
- CONSUMPTION OF ELECTRICITY FOR LIGHTING, TWH, UNITED STATES, 2017 - 2030
- Figure 5:
- COUNT OF HOUSEHOLDS, MILLION, UNITED STATES, 2017 - 2030
- Figure 6:
- LED PENETRATION, %, UNITED STATES, 2017 - 2030
- Figure 7:
- HORTICULTURE AREA, HECTARE, UNITED STATES, 2017 - 2030
- Figure 8:
- VOLUME SALES OF US INDOOR LED LIGHTING MARKET, NUMBER, UNITED STATES, 2017 - 2030
- Figure 9:
- VALUE SALES OF US INDOOR LED LIGHTING MARKET, USD, UNITED STATES, 2017 - 2030
- Figure 10:
- VOLUME SALES OF LED FIXTURES BY INDOOR LIGHTING, NUMBER, UNITED STATES, 2017 - 2030
- Figure 11:
- VALUE SALES OF LED FIXTURES BY INDOOR LIGHTING, USD, UNITED STATES, 2017 - 2030
- Figure 12:
- VALUE SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, UNITED STATES, 2017 - 2030
- Figure 13:
- VOLUME SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, UNITED STATES, 2017 - 2030
- Figure 14:
- VOLUME SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, NUMBER, UNITED STATES, 2017 - 2030
- Figure 15:
- VALUE SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, USD, UNITED STATES, 2017 - 2030
- Figure 16:
- VOLUME SALES OF LED FIXTURES BY COMMERCIAL, NUMBER, UNITED STATES, 2017 - 2030
- Figure 17:
- VALUE SALES OF LED FIXTURES BY COMMERCIAL, USD, UNITED STATES, 2017 - 2030
- Figure 18:
- VALUE SHARE OF LED FIXTURES BY COMMERCIAL, %, UNITED STATES, 2017 - 2030
- Figure 19:
- VOLUME SHARE OF LED FIXTURES BY COMMERCIAL, %, UNITED STATES, 2017 - 2030
- Figure 20:
- VOLUME SALES OF LED FIXTURES IN OFFICE, NUMBER, UNITED STATES, 2017 - 2030
- Figure 21:
- VALUE SALES OF LED FIXTURES IN OFFICE, USD, UNITED STATES, 2017 - 2030
- Figure 22:
- VOLUME SALES OF LED FIXTURES IN RETAIL, NUMBER, UNITED STATES, 2017 - 2030
- Figure 23:
- VALUE SALES OF LED FIXTURES IN RETAIL, USD, UNITED STATES, 2017 - 2030
- Figure 24:
- VOLUME SALES OF LED FIXTURES IN OTHERS, NUMBER, UNITED STATES, 2017 - 2030
- Figure 25:
- VALUE SALES OF LED FIXTURES IN OTHERS, USD, UNITED STATES, 2017 - 2030
- Figure 26:
- VOLUME SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, NUMBER, UNITED STATES, 2017 - 2030
- Figure 27:
- VALUE SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, USD, UNITED STATES, 2017 - 2030
- Figure 28:
- VOLUME SALES OF LED FIXTURES IN RESIDENTIAL, NUMBER, UNITED STATES, 2017 - 2030
- Figure 29:
- VALUE SALES OF LED FIXTURES IN RESIDENTIAL, USD, UNITED STATES, 2017 - 2030
- Figure 30:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, UNITED STATES, 2017 - 2030
- Figure 31:
- MOST ADOPTED STRATEGIES, COUNT, UNITED STATES, 2017 - 2030
- Figure 32:
- VALUE SHARE OF MAJOR PLAYERS, %, UNITED STATES, 2022
US Indoor LED Lighting Industry Segmentation
Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.
- In terms of value share, in 2023, commercial accounted for the majority of the share, followed by industrial and warehouse, and residential. The main factors contributing to the growth of the industrial sector's resilience are changes in labor force levels in China, less regulatory burden for US production than European counterparts, and greater vitality of manufacturing income relative to the United States Gross Domestic Product.
- In terms of volume share, in 2023, commercial accounted for the majority of the share, followed by the residential sector and industrial and warehouse sector. America's need for storage space is advancing toward a brighter future. With the acceleration of e-commerce, the warehousing industry may see more growth opportunities than ever. The US retail e-commerce sales in Q3 2020 are estimated at USD 209.5 billion. This is a 36.7% increase over Q3 2019.
- The construction industry is a growth industry in all areas. These include builders, contractors, and civil engineers in the private and commercial sectors. Employment in the construction and mining sector is expected to increase by 4% from 2019 to 2029, about the same rate as the average for all jobs. Part of the driver of this growth is the increasing demand for new buildings, roads, and other structures due to population growth.
- In 2022, there were 33.2 million small businesses in the United States. The five fast-growing startups are headquartered in San Francisco. 40% of US startups have at least one woman in leadership. Over 65% of small businesses reported profits in 2022. The above instances are expected to create more demand for Indoor LEDs in the coming years.
| Indoor Lighting | |||||
| Agricultural Lighting | |||||
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| Industrial and Warehouse | |||||
| Residential |
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Market Definition
- INDOOR LIGHTING - It incorporates all LED based lamps and fixtures/luminaire that are used to illuminate indoor section of residential, commercial, industrial buildings and agricultural lighting. LED offers efficient brightness with higher durability in comparison to other lighting technology.
- OUTDOOR LIGHTING - It incorporates the LED lighting fixtures that is used for illumination for exterior/outdoor illumination. For instance, LED lighting fixtures used to illuminate streets and highways, transport hubs, stadiums and other public places such as parking spaces.
- AUTOMOTIVE LIGHTING - It refers to the lighting fixtures installed for illumination and signaling purposes. It is used in both exterior and interior lighting of the vehicle. Headlamps, fog lamp, daytime running light (DRLs) are examples of exterior light whereas cabin light are interior lights.
- END USER - It refers to the end use application area where the LED fixture will be installed. For instance, in terms of indoor lighting, we have residential, commercial and industrial as end user category. For automotive lighting, primary end user considered are automotive manufacturers and aftermarket sale
| Keyword | Definition |
|---|---|
| Lumen | Lumen is a unit of luminous flux in the International System of Units that is equal to the amount of light given out through a solid angle by a source of one-candela intensity radiating equally in all directions. |
| Footcandle | A foot-candle (or foot-candle, fc, lm/ft2, or ft-c) is a measurement of light intensity. One foot-candle is defined as enough light to saturate a one-foot square with one lumen of light. |
| Colour Rendering Index (CRI) | Color Rendering Index (CRI) is a measurement of how natural colors render under an artificial white light source when compared with sunlight. The index is measured from 0-100, with a perfect 100 indicating that colors of objects under the light source appear the same as they would under natural sunlight. |
| Luminous flux | Luminous flux is a measure of the power of visible light produced by a light source or light fitting. It is measured in lumens (lm). |
| Annual Energy Cost | Annual Energy Cost means the average daily energy consumption multiplied by 365 (days per year), expressed in kilowatt hour per year (kWh/a). |
| Constant voltage drivers | Constant voltage drivers are designed for a single direct current (DC) output voltage. Most common constant voltage drivers (or Power Supplies) are 12VDC or 24VDC. An LED light that is rated for constant voltage usually specifies the amount of input voltage it needs to operate correctly. |
| Constant Current Driver | Constant current LED drivers are designed for a designated range of output voltages and a fixed output current (mA). LEDs that are rated to operate on a constant current driver require a designated supply of current usually specified in milliamps (mA) or amps (A). These drivers vary the voltage along an electronic circuit which allows current to remain constant throughout the LED system. |
| Minimum Energy Performance Standards (MEPS) | Minimum Energy Performance Standards specify the minimum level of energy performance that appliances and equipment must meet or exceed before they can supply or used for commercial purposes. |
| Luminous Efficacy | Luminous efficacy is a measurement commonly used in the lighting industry that indicates the ability of a light source to emit visible light using a given amount of power. |
| Solid State Lighting | Solid-state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLED), or polymer light-emitting diodes (PLED) as sources of illumination rather than electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas. |
| Rated Lamp Life | Lamp life, also referred to as rated life, is the time in hours a lamp will last before a percentage of lamps will burn out. |
| Color Temperature | Colour temperature is a scale that measures how ‘warm’ (yellow) or ‘cool’ (blue) the light from a particular source is. It is measured in degrees of the Kelvin scale (abbreviated to K), and the higher the number, the ‘cooler’ the light. The lower the ‘K’ number, the ‘warmer’ the light. |
| Ingress Protection rating (IP rating) | The IP (Ingress Protection) rating of a bulb or light fixture declares the level of protection it has against dirt and water. |
| Fidelity Index | The general colour fidelity index, Rf, represents how closely the colour appearances of the entire sample set are reproduced (rendered) on average by a test light as compared to those under a reference illuminant. |
| Gamut Index | The gamut area is defined as “the area enclosed by a set of test color samples illuminated by a light source, in a two-dimensional chromaticity diagram or a plane of color space.”1 Within a defined color space, a “gamut” describes the subset of colors that can be perceived under specific lighting conditions. |
| Binning | In the lighting industry, the act of "binning" of LEDs is the process of sorting LEDs by certain characteristics, such as color, voltage, and brightness. |
| Accent lighting | Accent lighting, also called highlighting, emphasizes objects by focusing light directly on them. Accent lighting is used inside and outside the home to feature locations such as an entrance or to create dramatic effects. |
| Dimmable driver | A dimming driver has two functions: As a driver, it converts the 230V AC mains input to a low voltage DC output. As a dimmer, it reduces the amount of electrical energy flowing to the LEDs, thereby causing them to dim. |
| Flicker | Flicker is the repeated and frequent variation in the output of a light source over time. |
| Fluorescent | A property of materials defined as the ability to emit light after absorbing electromagnetic radiation such as visible or UV light. |
| Candela | The candela is the unit of luminous intensity in the International System of Units. It measures the light output per unit solid angle emitted from a light source in a specific direction. |
| LUX | Lux is used to measure the amount of light output in a given area - one lux is equal to one lumen per square meter. It enables us to measure the total "amount" of visible light present and the intensity of the illumination on a surface. |
| Uniformity (U0) | The uniformity of lighting has significant effects on visual performance in both indoor and outdoor areas. Uniformity (represented as U0) value can be found by dividing the minimum brightness (Emin) resulting from calculations according to the current lighting order, to the average brightness value (Eavg). |
| Visible Light Spectrum | The visible light spectrum is the segment of the electromagnetic spectrum that the human eye can view. More simply, this range of wavelengths is called visible light. Typically, the human eye can detect wavelengths from 380 to 700 nanometers. |
| Ambient Temperature | Ambient Temperature is the temperature of the air surrounding an electrical enclosure. |
| Current-controlled dimming control | Current-controlled dimming controls LED brightness by varying the applied current using a 0-10V dimmer. Current-controlled dimming is smooth and HD-video friendly. It can only dim to a minimum of 5% of light output. |
| Design Light Consortium | It is a partnership of energy efficiency stakeholders in the United States and Canada to “promote quality, performance and energy efficient lighting solutions for the commercial sector”. |
| Pulse Width Modulation | Pulse-width modulation, or pulse-duration modulation, is a method of controlling the average power delivered by an electrical signal. |
| Surface Mounted Device | A surface mount device (SMD) is an electronic device whose components are mounted or placed directly on the surface of a printed circuit board. |
| Alternating Current | Alternating current is an electric current which periodically reverses direction and changes its magnitude continuously with time, in contrast to direct current, which flows only in one direction. |
| Direct Current | Direct current (DC) is an electric current that is uni-directional, so the flow of charge is always in the same direction. |
| Beam Angle | Beam angle (also called beam spread) is a measure of how light is distributed. On any plane perpendicular to the centerline of the light, the beam angle is the angle between two rays where the light intensity is 50% of the maximum light intensity. |
| LED Based Solar High Mast Lighting Systems | A Solar LED High Mast Light is a raised source of High illumination lights (6~8 lights) and with high intensity on the middle of major junctions (Ring roads, Outer Ring roads), turned on or lit automatically in the absence of light (at specified timings or at periodic times, every night). |
| Surface Mounted Diode (SMD) LEDs | A surface mount diode is a type that emits light and is flat mounted and soldered onto a circuit board. |
| Chip on Board (COB) LEDs | A COB LED is basically multiple LED chips (usually 9 or more) glued directly onto a substrate by the manufacturer to form a single module. |
| Dual In-Line Package (DIP) LEDs | A dual in-line package (DIP or DIL) is an electronic component package with a rectangular case and two parallel rows of electrical connector pins. |
| Graphene LED Lights | A graphene LED light bulb is simply an LED light bulb where the filament has been coated in graphene. A graphene LED bulb is reported to be 10% more efficient than regular LED light bulbs and they are cheaper to manufacture and buy. |
| LED Corn Bulbs | LED Corn lights are designed as an energy efficient alternative to high intensity discharge (HID) and SON lamps. It uses a large number of LEDs on a metal structure to provide sufficient light. This arrangement of LEDs looks a lot like a corn cob, hence the name "corn light". |
| Per Capita Income | Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. |
| Charging Stations | A charging station, also known as a charging station or electric vehicle utility, is a power supply that provides electrical energy for charging plug-in electric vehicles. |
| Headlight | A headlight is a light that is mounted on the front of a car and illuminates the road in front of it. Low beam and high beam LED headlights are additional categories for these LED headlights. |
| Day Time Running Light (DRLs) | A daytime running lamp is a white, yellow, or amber lighting device mounted on the front of a road-going motor vehicle or bicycle. |
| Directional Signal Light | Directional signal lights are the front and rear lights on an automobile that flash to show the direction of a turn. |
| Stop Light | A red light that is mounted to the back of a car and turns on when the brakes are used to show that the car is stopped. |
| Reverse Light | The reverse light is at the back of the vehicle to indicate its backward motion. |
| Tail Light | A red light that can be seen in the dark is mounted on the rear of a road vehicle. Stop, reverse, and directional signal lights are all part of it. |
| Fog Light | Bright lights in automobiles used to increase visibility on the road in foggy conditions or to warn other drivers of the presence of the vehicle. |
| Passenger Vehicle | A passenger vehicle is a road vehicle, other than a moped or a motorcycle, intended for the transportation of people and designed for up to 8 to 9 seats. |
| Commercial Vehicle | A commercial vehicle (Bus, Truck, Van) is any type of motor vehicle used to transport goods or pay passengers. |
| Two Wheelers (2W) | A two-wheeler is a vehicle that runs on two wheels. |
| Streets & Roadways | Both roads and streets refer to hard, flat surfaces on the ground on which vehicles, people, and animals can travel. Since streetways are usually in cities and towns, they often have houses and buildings on both sides. The roadway is in the countryside and sometimes passes through forests and fields |
| Horticulture Lighting | Horticulture is the science and art of sustainably growing, producing, marketing and using high quality, intensively cultivated food and ornamental plants. |
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Research Methodology
Mordor Intelligence has followed the following methodology in all our data center reports.
- Step 1: Raw Data Collection: To understand the market, initially, all crtical data points were identified. Critical information about countries and regions of interest including Per-capita Income, Population, Automotive Production, Interest rate on Auto-Loans, Number of Automobiles on Road, Total LED Import, Lighting Electricity Consumption among others were recorded or estimated based on internal calculations.
- Step 2: Identify Key Variables: To build a robust forecasting model, key variables such as Number of Households, Automotive Production, Road Networks among others were identified. Through an iterative process, the variables required for the market forecast were set, and the model was built using these variables.
- Step 3: Build a Market Model: Based on data and critical industry trend data (variables), including LED pricing, LED penetration rate, and project macro and micor economic factors were utilized for building the market forecasting.
- Step 4: Validate and Finalize: In this crucial step, all market numbers and variables derived through an internal mathematical model were validated through an extensive network of primary research experts from all the markets studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 5: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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