US Outdoor LED Lighting Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 1.84 Billion |
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Market Size (2030) | USD 2.32 Billion |
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Largest Share by Outdoor Lighting | Public Places |
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CAGR (2024 - 2030) | 3.91 % |
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Fastest Growing by Outdoor Lighting | Public Places |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
US Outdoor LED Lighting Market Analysis
The US Outdoor LED Lighting Market size is estimated at 1.84 billion USD in 2024, and is expected to reach 2.32 billion USD by 2030, growing at a CAGR of 3.91% during the forecast period (2024-2030).
1.84 Billion
Market Size in 2024 (USD)
2.32 Billion
Market Size in 2030 (USD)
-1.13 %
CAGR (2017-2023)
3.91 %
CAGR (2024-2030)
Largest Segment by Outdoor Lighting
85.55 %
value share, Public Places, 2023
Michigan Stadium, also known as "The Big House," is the largest stadium in the United States and the third largest in the world.
Fastest-growing Segment by Outdoor Lighting
4.02 %
Projected CAGR, Public Places, 2024-2030
The volume of LED penetration in this category was expected to reach 190.6 million by 2023. As of October 2019, there were over 20,300 airports in the United States.
First Leading Market Player
30.54 %
market share, ACUITY BRANDS, INC., INC.
Acuity Brands Inc. has the highest market share in the US. In May 2023, Cyclone Lighting, an Acuity Brand, released Elencia, a luminaire providing outdoor post lighting with an upscale aesthetic and modern style.
Second Leading Market Player
25.70 %
market share, Signify Holding (Philips), 2022
Signify (Philips) has the second-highest market share in the United States. In August 2022, Signify introduced an A-class LED tube, which consumes 60% less energy than a standard Philips LED.
Third Leading Market Player
6.75 %
market share, Panasonic Holdings Corporation, 2022
Panasonic Holdings Corporation was the third largest market player, accounting for 6.75% in 2022. The company offers outdoor lighting fixture solutions that are used in public facilities and commercial facilities.
The continued demand for road and retail expansion, along with the growing sport, is expected to drive the growth of the market
- In 2023, public places accounted for the majority of the value share, followed by streets and roadways (S&R) and other areas. It is expected that there will be a small reduction in S&R's market share and an increase in public places' market share in the coming years. Shutting down public places like stadiums, pools, beaches, and forts throughout the region was one of the measures taken to limit the spread of COVID-19.
- In 2021, the US government relaxed COVID-19 rules, and major road infrastructure construction projects were launched during the first quarter of 2023 in North America. Projects such as the 69 Express Toll Lane in Overland Park, Kansas, and the Kennedy Expressway Extension, covering 12 km from Edens Expressway to Ohio Street in Chicago, are expected to increase roadway lighting, thus boosting the growth of the LED market in the region. Retail sales boomed in 2022, and there were nearly seven times as many store openings as closings in Q1 of that year.
- In January 2023, Target, a retail corporation, opened 23 new locations to enhance the shopping experience for more than two million guests over the coming years. This instance is anticipated to increase the demand for parking lots in the region, resulting in more demand for outdoor LED lights. Soccer is becoming increasingly popular in the US, surpassing ice hockey. However, hosting the World Cup in 2026 presents new challenges. The US plans to upgrade one of the stadiums for the 2026 World Cup. The 76,416-capacity Arrowhead Stadium has been the first to be identified as undergoing an upgrade in preparation for the 2026 event. The above instances are expected to create more demand for outdoor lighting in the region during the study period.
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US Outdoor LED Lighting Market Trends
Upgradation, replacement, and construction of new stadiums to drive the growth of LED lights
- The number of stadiums segment is expected to witness a growth of 937 units in 2030 from 901 units in 2023. The sports sector has undergone several changes in recent years. For instance, NRG Stadium enhanced its professional football stadium status in 2014 by illuminating its pitch with several high-efficiency LED lights. At full power, the new high-efficiency system consumes 337 kW, 60% less than the stadium's prior lighting system. More than 65,000 light-emitting diodes (LEDs) installed in 480 optically improved luminaries make up the field lighting array. New Yankee Stadium underwent an LED lighting upgrade in 2015. Additionally, Kenan Stadium is now through a project to install LED stadium lights, while Gillette Stadium has spent more than USD 300 million renovating the venue, which includes adding LED lighting. These factors contribute to the growth of the LED market in the region.
- Americans are becoming more interested in watching live matches and other international leagues, as evidenced by USA Cricket's announcement in 2022 that it would invest USD 1.0 billion in the organization of the US T20 cricket league. Additionally, the nation is constantly building stadiums. For instance, work on the multifunctional Acrisure Arena began in California in 2021. The Coachella Valley Firebirds of the American Hockey League will play their home games in the stadium, which can accommodate 11,000 spectators. The 48th Copa América and the FIFA World Cup are two forthcoming sporting events in the nation. Consequently, it is anticipated that the building of new stadiums and the expansion of athletic events are expected to increase sales of LED lights in the country.
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Increase in the number of households to drive the growth of the LED market
- In 2021, there were 332.18 million people living in the US as a whole. The overall fertility rate in the US was expected to be 1.66 children per woman in 2021. When compared to the prior year, it went up 0.01. In rough terms, there were 11 live births per 1,000 people in the US. This rose from the previous year by 0.1. In the US, the average life expectancy at birth was 76.33 years in 2021. According to the data, more children are being born and more people in the world, which means that more space will need to be inhabited by people, which will help the market expand. Thus, the sale of new LEDs will rise as a result of the building of the new home.
- The United States had 131.2 million households in 2022. There are now more households in the United States than there were in 2020 (128.45 million). In 2022, there were 3.13 people in the typical American family. The proportion of owner-occupied households in 2022 was 65.9%. In 2020, six or more rooms were present in 19.3% of all occupied dwelling units. The expansion of LEDs will be fueled by an increase in families and the need to accommodate this increase in the typical number of rooms.
- The market for electric cars (EVs) has expanded quickly and is anticipated to do so throughout the next ten years. From just 0.2% of all car sales in 2011 to 4.6% in 2021, electric car sales in the US grew. Over the decade of 2011–21, the number of EVs on the road increased significantly, from around 22,000 to over 2 million. As a result, the need for semiconductor chips used in various EV applications rose along with the popularity of EVs, raising the need for LED illumination.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- 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
- 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
- LED penetration is driven by LED certification for commercial spaces, which increased by 30% in 2022
- Reduction in imports from China to lead the growth of the LED lighting market in the country
- Increase in the number of private-owned dwellings and government regulations to drive the market for LEDs
US Outdoor LED Lighting Industry Overview
The US Outdoor LED Lighting Market is fairly consolidated, with the top five companies occupying 79.94%. The major players in this market are ACUITY BRANDS, INC., Current Lighting Solutions, LLC., Dialight PLC, Panasonic Holdings Corporation and Signify Holding (Philips) (sorted alphabetically).
US Outdoor LED Lighting Market Leaders
ACUITY BRANDS, INC.
Current Lighting Solutions, LLC.
Dialight PLC
Panasonic Holdings Corporation
Signify Holding (Philips)
Other important companies include Cree LED (SMART Global Holdings, Inc.), EGLO Leuchten GmbH, Feit Electric Company, Inc., LEDVANCE GmbH (MLS Co Ltd), NVC INTERNATIONAL HOLDINGS LIMITED.
*Disclaimer: Major Players sorted in alphabetical order.
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US Outdoor LED Lighting Market News
- May 2023: Cyclone Lighting, a well-known manufacturer of outdoor luminaires, has announced the debut of its Elencia luminaire. Outdoor post-top lighting has an upscale look thanks to high-performance optics and revised, modern lantern style.
- May 2023: Dialight, a company in hazardous and industrial LED lighting innovation, has introduced the ProSite High Mast, an expansion of the company's extremely successful ProSite Floodlight range. This new model is carefully constructed to withstand mounting heights of up to 130 feet for a wide range of outdoor industrial applications such as airports, container yards, rail yards, product stockpiles, transportation, perimeter lighting, and parking applications. With a total lumen output of up to 65,000, the ProSite High Mast improves site security by providing uniform, crisp, and clear illumination.
- April 2023: Hydrel, an established innovator and producer of outdoor architectural and landscape lighting systems, announced the addition of the M9700 RGBW fixture to its M9000 ingrade luminaire family.
Free with this Report
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 Outdoor 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. # Of Stadiums
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. Outdoor Lighting
3.1.1. Public Places
3.1.2. Streets and Roadways
3.1.3. Others
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 PLC
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. Panasonic Holdings Corporation
4.4.10. Signify Holding (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:
- COUNT OF STADIUMS, NUMBER, UNITED STATES, 2017 - 2030
- Figure 8:
- VOLUME SALES OF US OUTDOOR LED LIGHTING MARKET, NUMBER, UNITED STATES, 2017 - 2030
- Figure 9:
- VALUE SALES OF US OUTDOOR LED LIGHTING MARKET, USD, UNITED STATES, 2017 - 2030
- Figure 10:
- VOLUME SALES OF LED FIXTURES BY OUTDOOR LIGHTING, NUMBER, UNITED STATES, 2017 - 2030
- Figure 11:
- VALUE SALES OF LED FIXTURES BY OUTDOOR LIGHTING, USD, UNITED STATES, 2017 - 2030
- Figure 12:
- VALUE SHARE OF LED FIXTURES BY OUTDOOR LIGHTING, %, UNITED STATES, 2017 - 2030
- Figure 13:
- VOLUME SHARE OF LED FIXTURES BY OUTDOOR LIGHTING, %, UNITED STATES, 2017 - 2030
- Figure 14:
- VOLUME SALES OF LED FIXTURES IN PUBLIC PLACES, NUMBER, UNITED STATES, 2017 - 2030
- Figure 15:
- VALUE SALES OF LED FIXTURES IN PUBLIC PLACES, USD, UNITED STATES, 2017 - 2030
- Figure 16:
- VOLUME SALES OF LED FIXTURES IN STREETS AND ROADWAYS, NUMBER, UNITED STATES, 2017 - 2030
- Figure 17:
- VALUE SALES OF LED FIXTURES IN STREETS AND ROADWAYS, USD, UNITED STATES, 2017 - 2030
- Figure 18:
- VOLUME SALES OF LED FIXTURES IN OTHERS, NUMBER, UNITED STATES, 2017 - 2030
- Figure 19:
- VALUE SALES OF LED FIXTURES IN OTHERS, USD, UNITED STATES, 2017 - 2030
- Figure 20:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, UNITED STATES, 2017 - 2030
- Figure 21:
- MOST ADOPTED STRATEGIES, COUNT, UNITED STATES, 2017 - 2030
- Figure 22:
- VALUE SHARE OF MAJOR PLAYERS, %, UNITED STATES, 2022
US Outdoor LED Lighting Industry Segmentation
Public Places, Streets and Roadways, Others are covered as segments by Outdoor Lighting.
- In 2023, public places accounted for the majority of the value share, followed by streets and roadways (S&R) and other areas. It is expected that there will be a small reduction in S&R's market share and an increase in public places' market share in the coming years. Shutting down public places like stadiums, pools, beaches, and forts throughout the region was one of the measures taken to limit the spread of COVID-19.
- In 2021, the US government relaxed COVID-19 rules, and major road infrastructure construction projects were launched during the first quarter of 2023 in North America. Projects such as the 69 Express Toll Lane in Overland Park, Kansas, and the Kennedy Expressway Extension, covering 12 km from Edens Expressway to Ohio Street in Chicago, are expected to increase roadway lighting, thus boosting the growth of the LED market in the region. Retail sales boomed in 2022, and there were nearly seven times as many store openings as closings in Q1 of that year.
- In January 2023, Target, a retail corporation, opened 23 new locations to enhance the shopping experience for more than two million guests over the coming years. This instance is anticipated to increase the demand for parking lots in the region, resulting in more demand for outdoor LED lights. Soccer is becoming increasingly popular in the US, surpassing ice hockey. However, hosting the World Cup in 2026 presents new challenges. The US plans to upgrade one of the stadiums for the 2026 World Cup. The 76,416-capacity Arrowhead Stadium has been the first to be identified as undergoing an upgrade in preparation for the 2026 event. The above instances are expected to create more demand for outdoor lighting in the region during the study period.
| Outdoor Lighting | |
| Public Places | |
| Streets and Roadways | |
| Others |
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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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