Us Lighting Power Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Lighting Power Market was valued at USD 90 Billion in 2022 and is projected to reach USD 130 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The U.S. lighting power market has undergone significant transformations in recent years, driven by technological advancements, energy efficiency initiatives, and evolving consumer preferences. This article delves into the current state and future projections of the U.S. lighting power market, highlighting key trends, challenges, and opportunities.
Market Overview
As of 2024, the U.S. lighting market was valued at approximately USD 2.62 billion and is projected to reach USD 3.35 billion by 2031, reflecting a compound annual growth rate (CAGR) of 3.7% during the forecast period from 2025 to 2031. This growth is primarily attributed to the increasing adoption of energy-efficient lighting solutions and the ongoing transition from traditional incandescent bulbs to LED technologies.
Energy Consumption and Efficiency
Lighting accounts for a substantial portion of electricity consumption in the United States. In 2020, electricity consumption for lighting in residential homes accounted for about 6% (81 billion kilowatt-hours) of total electricity consumption, while commercial buildings accounted for approximately 17% (208 billion kWh). The shift towards LED lighting has significantly reduced energy consumption, with LEDs using up to 90% less energy and lasting up to 25 times longer than traditional incandescent bulbs.
Technological Advancements
The integration of smart lighting systems has further enhanced energy efficiency and user convenience. These systems allow for remote control, automation, and integration with other smart home devices, contributing to energy savings and improved user experience. The market for smart lighting solutions is expected to grow substantially, driven by consumer demand for connected and intelligent home environments.
Market Segmentation
The U.S. lighting market is diverse, encompassing various segments such as residential, commercial, industrial, and outdoor lighting. The residential sector holds a significant share, driven by the widespread adoption of energy-efficient lighting solutions. The commercial sector is also a major contributor, with businesses increasingly investing in LED lighting to reduce operational costs and meet sustainability goals.
Challenges and Opportunities
Despite the positive growth trajectory, the market faces challenges, including the need for substantial investments in infrastructure to support the widespread adoption of advanced lighting technologies. Additionally, the rapid pace of technological innovation requires continuous adaptation from manufacturers and consumers alike. However, these challenges present opportunities for innovation, particularly in developing cost-effective and energy-efficient lighting solutions that cater to diverse consumer needs.
Conclusion
The U.S. lighting power market is poised for continued growth, driven by technological advancements, energy efficiency initiatives, and evolving consumer preferences. Stakeholders across the industry must navigate the challenges and leverage the opportunities presented by this dynamic market to achieve sustainable growth and meet the increasing demand for energy-efficient lighting solutions.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Lighting Power Market
LED (Light Emitting Diode)
CFL (Compact Fluorescent Lamp)
Incandescent
Halogen
Smart Lighting Solutions
Residential
Commercial
Industrial
Outdoor/Public Lighting
Automotive Lighting
Households
Businesses
Government Entities
Transport Sector
Healthcare Facilities
Battery-powered Lighting
AC-powered Lighting
Solar-powered Lighting
Hybrid Systems
Embedded Lighting
Surface-mounted Lighting
Suspended Lighting
Track Lighting
Portable Lighting
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Lighting Power Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Lighting Power Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Lighting Power Market, By Type
6. Global Lighting Power Market, By Application
7. Global Lighting Power Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Lighting Power Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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