U.S. Lighting Products Market: Recent Strategies Aimed at Boosting Use of Solar Power to Create Lucrative Opportunities
The U.S.
lighting products market exhibits the presence of varied players and a
large number of retailers. With the leading players vying to gain the lion’s
share, the U.S. lighting products market exhibits a highly competitive
landscape. Moreover, this lighting industry operates at surplus of
products, causing fiercer rivalry among players, finds Transparency Market
Research (TMR) in a recent study.
Besides the rising residential and non-residential construction, the
U.S. lighting products market is immensely gaining from the high demand for
retrofitting and renovation across existing U.S. households. According to
Transparency Market Research (TMR), the U.S. lighting products market is poised
to exhibit a CAGR of 5.0% between 2014 and 2024. At this pace, the market’s
valuation will reach US$285.84 bn by 2024 from US$185.65 bn in 2015. By volume,
the market stood at 3.86 bn units in 2015.
Among Standalone Types, Others Segment Forecast to Lose Share
in Coming Years
The U.S. lighting products market can be
segmented on the basis of lighting fixture, application, standalone type, and
retailer. Based on standalone type, T8 LED bulbs and tubes, LED bulbs and
others are the key market segments. Of these, the LED tubes held above 23% of
the market in 2015, while the others segment emerged dominant with a share of
nearly 51%. However, the others segment is expected to lose is shares in the
coming years on account of the declining adopting of incandescent bulbs and the
correspondingly rising adoption of LED tubes and bulbs in the U.S. This trend
is likely to become widespread across commercial as well as residential sectors
thus fuelling opportunities for the lighting products manufacturers across the
U.S.
U.S. Lighting Products Market: Scope of the Report
The market overview section of the report
demonstrates the market dynamics such as the driver, restraint, and opportunity
that influence the current nature and future status of this market, key
indicators and trends. An attractiveness analysis has also been provided for
every segment in the report, in order to give a thorough understanding of the
overall scenario for the U.S. lighting product market. Moreover, the report
provides an overview of the various strategies adopted by key players present
in the market. Key market indicators included in the report provide
significance of the factors which are capable of changing the market scenario.
These indicators are expected to define the market growth during the forecast
period.
U.S. Lighting Product Market: Key Segments
The report segments the market on the basis
of standalone type that includes LED Tubes & Bulbs, T8 LED tubes &
bulbs and Others (Incandescent, High Intensity Discharge). The market is also
segmented on the basis of lighting fixture to include ceiling fixtures,
recessed lighting fixture, strip light fixture and others (chandeliers,
pendants, etc.). The application of these lighting products are considered in
various areas such as residential, commercial, industrial and outdoor. The
outdoor application of lighting includes garage parking, landscape and
streetlight. The report provides in-depth segment analysis of the U.S. market,
thereby providing valuable insights at the macro as well as micro levels.
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U.S. Lighting Product Market: Competitive Landscape
The report also highlights the competitive
landscape of the U.S. product lighting market, thereby positioning all the
major players according to their presence in the U.S. and recent key
developments initiated by them in lighting product market. The comprehensive
lighting product market estimates are the result of our in-depth secondary
research, primary interviews, and in-house expert panel reviews. These market
estimates have been analyzed by taking into account the impact of different
political, social, economic, technological, and legal factors along with the
current market dynamics affecting the U.S. lighting product market growth.
The Home Depot, Lowes, Target, Wal-Mart,
Bed Bath & Beyond, Sam's Club, Costco, Menards are some of the major
players operating within the U.S. lighting product market profiled in this
study. Details such as financials, SWOT analysis, business strategies, recent
developments, and other such strategic information pertaining to these players
have been duly provided as part of the company profiling.
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