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Market Insight- U.S. Lighting Product Market

Market Overview

Lighting products or lighting fixtures are products used for deliberate illumination of light to achieve aesthetic and practical results. Lamps and lighting fixtures are artificial lighting products that are used in residential, commercial, outdoor, and industrial settings. Lighting fixtures such as ceiling fixtures, recessed lighting fixtures and strip light fixtures are widely used among different end-use application, in the U.S. The recent past has witnessed an increased use of LED lamps and bulbs in numerous countries, owing to energy-saving efficiency and extended operational life span, which is around 10 years. LED lamps are being used in almost every application across the U.S.

The U.S. Lightning Product Market was accounted for US$ 221.8 Mn in terms of value and 4,829.5 Mn units in terms of volume in 2019 and is expected to grow at CAGR of 4.9% for the period 2019-2027.

Market Dynamics- Drivers

  1. Growing adoption in non-residential building construction is expected to drive growth of the U.S. lighting product market

Rising demand for lighting fixtures among building contractors for hotels, offices, and commercial structures are expected to drive the market growth. Non-residential construction accounts for the largest amount of lighting products consumption in the U.S. and is one of the most promising segments for the growth of retail lighting product sales in the U.S. According to the U.S. Census Bureau published a survey named - The Value of Construction Put in Place Survey (VIP) that provides monthly estimates of the total dollar value of construction work done in the U.S., the VIP for non-residential building construction was US$ 430,053 Mn, from US$ 393,934 Mn in 2015. Hence, these factors are expected to drive growth of the U.S. Lighting product market during the forecast period.

  1. Increasing demand for LED lighting fixtures is expected to propel the U.S. lighting product market growth over the forecast period

Adoption of LED lighting in the U.S. has increased significantly in the recent past. This is owing to high energy-efficiency and extended life span of LED lighting fixtures. Moreover, LED lightings are brighter and more aesthetic as compared to conventional lighting products. LED lighting can be used in a variety of buildings such as commercial, industrial, and residential. Moreover, they are now being used for streetlights, in order to save costs and energy. Thus, these factors are expected to support the U.S., lighting product market growth over the forecast period.

Market Dynamics- Restraints

  1. Significant decline in new residential constructions is expected to hamper the U.S. lighting product market growth over the forecast period

In 2016, new-home (residential) construction in the U.S. unexpectedly declined. According to the U.S. Commerce Department report, housing starts, which is an economic indicator that reflects the number of privately owned new houses, dropped 3.8 % to a 1.1 million annualized rate, from a 1.14 million pace. This slowdown in residential construction is expected to reduce the demand for lighting fixtures and thereby hinder the U.S. lighting product market growth in the near future.

  1. High initial cost of LED lighting fixtures is expected to restrain growth of the U.S. lighting product market during the forecast period

Although there is high demand for LED lighting fixtures, the initial cost for installation of these products is significantly higher than conventional lighting products. It is also true that LED lights have an extensive lifespan, small business owners are still unwilling to adopt LED lighting products due to high initial costs. Thus, these factors are expected to hinder the U.S. lighting product market growth over the forecast period.

Market Opportunities

  1. Advent of solar-powered lighting product can present major growth opportunities

Introduction solar-powered lighting products have started to gain traction among end users, owing to significant cost-savings. Solar-Powered street lights are being deployed and tested in parts of the U.S. For instance, Las Vegas plans to utilize renewable energy throughout the city by using solar and kinetic powered street lights. Many key players in the market are focused on capitalizing on this opportunity by providing a range of solar-powered decorative lighting products such as lamps and decorative fixtures. Moreover, the U.S Federal government’s continuous efforts to minimize energy consumption is expected to give a boost to solar-powered lighting products in the country.

  1. Introduction of smart lighting offer lucrative business opportunities

Smart lighting refers to the technology that includes automated controls and high-efficiency fixtures that make proper adjustments suitable to surrounding conditions such as occupancy or daylight availability. Smart lighting is typically installed to save both energy and costs, thus it has gained significant traction in various industry verticals. Residential as well as commercial building owners are adopting smart lighting, in order to provide better aesthetic view and reduce energy consumption.

U.S. Lightning Product  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Rising adoption of outdoor LED floor lights

Floodlights are used in commercial applications to light things like parking lots and property grounds to deter potential theft. More and more business owners turned to LED bulbs for these lights in 2015 in the U.S. Rising energy efficiency standards in the U.S. has increased the adoption of LED light in outdoor facilities, which subsequently has limited production of standard incandescent bulbs. Moreover, LED lights are weather-resistant and are unaffected by temperature changes. Low maintenance required for LED bulbs and tubes is expected to drive the market growth in the near future.

  1. Growing trend of customizable lighting fixtures

Customization in terms of shape of lighting, color and more importantly the quality of light is being witnessed by the retailers in the lighting market. Moreover, geometric lighting fixture that has minimalist aesthetic is also in trend among firms. Since it offers modern as well as a contemporary look to the room or a hall it is liked by most of the professionals. Moreover, big or oversized fixtures are in trend where they act as centerpiece of the room and provide the entire room more attractive ambiance.

Value Chain Analysis

  • The supply chain management plays an important role in growth of the retailers operating in this market. In order to get more productivity and better gross margin, efficient supply chain management particularly inventory management is essential
  • Warehouse is the backend support of the retailers. Continuous examination of the warehouse to check the availability of stock is vital for the retailers to competently meet the demand for the products. Various software are deployed to manage the warehouse. Software helps improve the process of moving freight off trucks, into receiving areas and from receiving areas onto customer-facing shelves
    • For instance, Home depot is one such retailer that strongly focuses on its stock. Each Home Depot store stock about 30,000 to 40,000 different products and provide an enhanced selection of about 700,000 products that is available through company's website. Moreover, in order to speed up order pick up time and save on storage and costs the company launched two major programs, including buy-online ship to store and buy-online pick-up in store
  • Nowadays, retailers are adopting omni-channel distribution network. They distribute products through brick and mortars stores, online-stores, various clubs, contact center and on-site platform. The omni-channel distribution network help the retailers to efficiently meet the demand for the product and thereby remain competitive in the market.
  • Value can be created at each step of supply chain management. From procuring quality products to stocking them and making it available to the end-user, each step is important for the retailers and value addition at each step, makes the whole supply chain competent enough to accommodate the demand

In forward and backward integration scenario, backward integration are often adopted in order to improve efficiency and cost savings.

U.S. Lightning Product  | Coherent Market Insights

Segment information:

In U.S. Lightning Product Market, by Application, Residential Lighting sub-segment dominated the U.S. market in 2019, accounting for 45.7% share in terms of value, followed by Android and Windows respectively.

U.S. Lightning Product  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Major companies operating in the U.S. lighting product market are Menards, Acuity Brands Lighting, Inc., Signify Holding, LSI Industries Inc., The Home Depot, Costco, Lowe's Companies, Inc., Wal-Mart, Sam's Club, Target, and Bed Bath & Beyond.

Key Developments

  1. Major companies involved in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in September 2019, Acuity Brands Lighting, Inc. acquired The Luminaires Group, a provider of specification-grade luminaires for institutional and commercial markets.
  2. Key players in the market are involved in merger and acquisition activities, in order to gain a competitive advantage in the market. For instance, in March 2020, Signify Holding acquired Cooper Lighting Solutions to enhance its position in North American lighting market.

A table or U.S. Lightning Product PC is a portable computer that uses a touchscreen interface as its primary input device. The standard U.S. Lightning Products are larger than smartphones in terms of size and smaller than a notebook or laptop. The majority of U.S. Lightning Products weigh less are used without physical keyboards. U.S. Lightning Products are used for a variety of applications including, video and image editing, chats, emails, video streaming, gaming, video calling, internet browsing, etc. Modern U.S. Lightning Products are manufactured with wireless Internet access or local area networks (LAN). Although the majority of U.S. Lightning Products use a touchscreen interface without physical keyboards, some U.S. Lightning Products are offered with a stylus to enhance the user experience.

Market Dynamics

Adoption of LED lighting in the U.S. has increased significantly in the recent past. This is owing to high energy-efficiency and extended life span of LED lighting fixtures. Moreover, LED lightings are brighter and more aesthetic as compared to conventional lighting products. LED lighting can be used in a variety of buildings such as commercial, industrial, and residential. Moreover, they are now being used for streetlights, in order to save costs and energy. Thus, these factors are expected to support the U.S., lighting product market growth over the forecast period. Rising demand for lighting fixtures among building contractors for hotels, offices, and commercial structures are expected to drive the market growth. Non-residential construction accounts for the largest amount of lighting products consumption in the U.S. and is one of the most promising segments for the growth of retail lighting product sales in the U.S. According to the U.S. Census Bureau published a survey named - The Value of Construction Put in Place Survey (VIP) that provides monthly estimates of the total dollar value of construction work done in the U.S., the VIP for non-residential building construction was US$ 430,053 Mn, from US$ 393,934 Mn in 2015. Hence, these factors are expected to drive growth of the U.S. Lighting product market during the forecast period.

Market Taxonomy

This report segments the U.S. Lightning Product Market on the basis of Standalone Type, Lighting Fixture, Application, Retailers and Region. On the basis of Standalone Type, U.S. Lightning Product Market is segmented into LED Tubes and Bulbs. Furthermore, LED Tubes and Bulbs is divided into T8 LED Tube and Bulbs and Others (Incandescent, High Intensity Discharge). On the basis of Lighting Fixture, the U.S. Lightning Product Market is segmented into Ceiling Fixtures, Recessed Lighting Fixture, Strip Light Fixture and Others (Chandeliers, Pendants, etc.). On the basis of Application, the U.S. Lightning Product Market is segmented into Residential Lighting (Table Lamps, Floor Lamps and Desk Lamps), Commercial Lighting, Industrial Lighting and Outdoor Lighting. On the basis of Retailers, the U.S. Lightning Product Market is segmented into The Home Depot, Lowe's Companies, Inc., Target, Wal-Mart, Bed Bath and Beyond, Sam’s Club, Costco and Menards. On the basis of region, U.S. Lightning Product Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the S. Lightning Product Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the U.S. Lightning Product Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the S. Lightning Product Market includes Menards, Acuity Brands Lighting, Inc., Signify Holding, LSI Industries Inc., The Home Depot, Costco, Lowe's Companies, Inc., Wal-Mart, Sam's Club, Target, and Bed Bath & Beyond.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The U.S. Lightning Product market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the S. Lightning Product Market

Detailed Segmentation:

  • The U.S. Lightning Product Market, By Standalone Type:
    • LED Tubes and Bulbs
      • T8 LED Tube and Bulbs
      • Others (Incandescent, High Intensity Discharge)
      • The U.S. Lightning Product Market, By Lighting Fixture:
    • Ceiling Fixtures
    • Recessed Lighting Fixture
    • Strip Light Fixture
    • Others (Chandeliers, Pendants, etc.)
  • The U.S. Lightning Product Market, By Application:
    • Residential Lighting
      • Table Lamps
      • Floor Lamps
      • Desk Lamps
    • Commercial Lighting
    • Industrial Lighting
    • Outdoor Lighting
  • The U.S. Lightning Product Market, By Retailers:
    • The Home Depot
    • Lowe's Companies, Inc.
    • Target
    • Wal-Mart
    • Bed Bath and Beyond
    • Sam’s Club
    • Costco
    • Menards
  • Company Profiles
    • Acuity Brands Lighting, Inc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Bed Bath & Beyond
    • Costco
    • Lowe's Companies, Inc.
    • LSI Industries Inc.
    • Menards
    • Sam's Club
    • Signify Holding
    • Target
    • The Home Depot
    • Wal-Mart

Browse all the market data tables and figures on “U.S. Lightning Product Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Standalone Type
      • Market Snippet, By Lighting Fixture
      • Market Snippet, By Application
      • Market Snippet, By Retailers
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. The U.S. Lightning Product Market, BY Standalone Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • LED Tubes and Bulbs
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • T8 LED Tube and Bulbs
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others (Incandescent, Discharge Tubes)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. The U.S. Lightning Product Market, By Lighting Fixture, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Ceiling Fixtures
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Recessed Lighting Fixture
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Strip Light Fixture
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others (Chandeliers, Pendants, etc.)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. The U.S. Lightning Product Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Residential Lighting
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Table Lamps
        • Floor Lamps
        • Desk Lamps
    • Commercial Lighting
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Industrial Lighting
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Outdoor Lighting
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. The U.S. Lightning Product Market, By Retailers, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • The Home Depot
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Lowe's Companies, Inc.
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Target
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Wal-Mart
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Bed Bath and Beyond
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Sam’s Club
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Costco
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Menards
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  8. Competitive Landscape
    • Company Profiles
      • Acuity Brands Lighting, Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bed Bath & Beyond
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Costco
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lowe's Companies, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • LSI Industries Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Menards
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sam's Club
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Target
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • The Home Depot
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Wal-Mart
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “The U.S. Lightning Product Market -forecast to 2027”.

Frequently Asked Questions

This market study covers the regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.
• By Standalone Type • By Lighting Fixture • By Application • By Retailers • By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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