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The Market is Segmented by Use (Indoor Lighting, Outdoor Lighting) and Category Type (General Purpose, Integrated Fixtures/Luminaire, Linear).
The US LED market was valued at USD 9.93 billion in 2019 and is expected to register a CAGR of 12.6% over the forecast period (2020-2025). Residential LEDs, especially ENERGY STAR rated products, use at least 75% less energy, and last 25 times longer, than incandescent lighting. Widespread use of LED light also has the most significant potential impact on energy savings in the United States.
The US LED market is segmented into two categories, indoor and outdoor, based on the type of use. The indoor segment is further subdivided into the residential, commercial, and industrial sector. Based on category type, the market is further segmented into general purpose, integrated fixture/luminaire, linear, and reflector.
|By Type of Use|
|By Category Type|
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The alternatives to incandescent light bulbs, which are energy efficient, have been available for a long time. Over the past few years, market conditions have been good and LED bulbs are poised for widespread consumer adoption.
Moreover, price decrease, energy savings, and an independent certification for rigorous performance standards are bolstering customer satisfaction. Traditional incandescent light bulbs comprising of 100-40W bulbs have catered to the basic lighting needs in the country for more than a century. However, 90% of the energy used is wasted as heat and only 10% is used to deliver light.
The adoption of LED bulbs has been majorly augmented by the Energy Independence and Security Act (EISA) of 2007 general service lamp standards. The maximum wattage standards, which began to take effect from 2012, requires a 25% efficiency increase for all general service lamps.
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The US LED market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. In Nov 2017, Cree launched KBL LED High-Bay Series, a solution for various applications such as retail, civic, and industrial. As a result, it is projected to attract new and existing customers. In Jan 2018, Feit Electric Company launched a LED product line complying with the California energy commission standards, which is likely to drastically boost the company’s presence and help in enticing new consumers.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 PESTLE Analysis
4.3 Industry Attractiveness Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Industry Value Chain Analysis
5. MARKET SEGMENTATION
5.1 By Type of Use
5.2 By Category Type
5.2.1 General Purpose
5.2.2 Integrated Fixture/Luminaire
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Acuity Brands Inc.
6.2.2 Cree Inc.
6.2.3 GE Lighting (General Electric Co.)
6.2.4 Eaton Corporation
6.2.5 Hubbell Incorporated
6.2.6 Feit Electric Company Inc.
6.2.7 OSRAM Licht AG
6.2.8 Philips Lighting
6.2.9 Samsung Electronics Co. Ltd.
6.2.10 Bridgelux Inc.
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
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