United States LED Light Emitting Diode Market Size was valued at USD 11.8 Billion in 2022. The LED Light Emitting Diode market industry is projected to grow from USD 12.9 Billion in 2023 to USD 26.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2024 - 2032). The significance of energy efficiency is growing, and the rising need for well-being and health are the main market drivers anticipated to propel the LED light-emitting diode market in the United States.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rising acceptance of advanced lighting technologies, which smartphones and other smart devices can control, has also increased demand for LED lighting. This is because, compared to fluorescent lighting technologies, LED lighting systems are far easier to combine with smart controls to create intelligent and responsive living environments in homes, offices, and cities, supplying light when and when needed. Manufacturers are beginning to reduce costs without sacrificing quality. Because of this, homes are a good fit for LED lighting applications. LED lighting, which has a long lifespan and consumes very little energy, can also save residential owners money. Many homeowners are always searching for ways to reduce their environmental impact. Because LEDs are recyclable and do not contain mercury, they give that. Aside from homes, office spaces are becoming a common application for LED lighting. The general well-being of their staff is becoming increasingly important to managers and business owners in the modern workplace. Offices may provide strong light for their employees by switching to LED lighting. Their vision improves, their eyes are less tired, and the color of the light can make them feel more at ease and cheerful.
Additionally, LED lighting is one major technique that many property owners are putting major effort into sustainability in their residential communities. Large lighting networks are present on these sites and must continue functioning most of the day. Making the switch to LED lights saves a lot of electricity. Because of this, many homeowners and renters are deciding to modernize their interior lighting with various LED solutions. LED lighting's main advantages are its longevity and energy economy. The advantages that LEDs provide have accelerated their adoption in the residential sector. 47 percent of United States houses currently utilize LED items for most or all of their lighting requirements, according to the most recent Residential Energy Consumption Survey (RECS) conducted by the IEA in 2020–2021 and published in 2022. Unlike halogen, incandescent, and fluorescent lighting, residential LED lighting has a higher market share. Thus, driving the LED Light Emitting Diode market revenue.
Based on Offering, the United States LED Light Emitting Diode market segmentation includes hardware, software, and services. The software segment mostly dominated the market. The growing popularity of smart lighting management systems is driving up demand for applications that let users remotely monitor and operate LED lighting. These systems use cloud-based platforms, mobile apps, and cognitive algorithms to improve energy consumption and lighting conditions.
The hardware category is anticipated to be the fastest growing. LED chips and modules, the essential components of LED lighting systems, are always in demand. Improvements in color rendering and luminous effectiveness brought about by advances in chip technology enhance the overall performance and efficiency of LED devices.
Based on Product Type, the United States LED Light Emitting Diode market segmentation includes lamps and luminaires. The lamps category earned the greatest revenue due to the growing popularity of light-emitting diode lighting and technological improvements. Throughout the projection period, it is expected that this tendency will continue. Customers are expected to show strong interest in this market due to the growing use of light-emitting diode (LED) lights and the substitution of LEDs for traditional lighting systems.
The market for the LED Light Emitting Diode luminaires segment is anticipated to grow fastest during the forecast period. The versatility of LED downlights and spotlights to produce accent and focused lighting makes them highly sought after. They are frequently used in living rooms, kitchens, and hospitality spaces in residences for atmosphere and aesthetics.
Based on Installation Type, the United States LED Light Emitting Diode market segmentation includes new installation and retrofit installation. The new installation category has the largest market share. Like any other lighting technology, new LED light fixtures are simple to install in newly constructed buildings. When a new installation is carried out, a traditional lighting system is entirely replaced after the lamp and all its related controls and fixtures are replaced with LED lighting. This contrasts retrofit installation, which refers to partially replacing lighting systems. Cost is the primary area where there is a substantial difference between retrofitting and LED lighting fixtures.
The retrofit installation category is expected to have the quickest rate. LED lights have a long lifespan, which means less maintenance and replacements are needed more often. Installing LED modules or bulbs in existing lights is an affordable modification that will save consumers money over time.
Based on wattage type, the United States LED Light Emitting Diode market segmentation includes less than 50 W, 50 W-150 W, and more than 150 W. The less than 50 W category has the largest market share. General, task, and decorative lighting are common uses for LED bulbs, downlights, and fixtures with power ratings below 50 watts in residential settings. Homeowners favor them because of their small and energy-efficient designs.
The 50 W-150 W category is expected to have the quickest rate. Parking lots, streets, and public areas are frequent outdoor area lighting applications for LED lamps in the 50W–150W range. For improved safety and visibility, these fixtures offer energy-efficient, brilliant lighting.
Based on Application, the United States LED Light Emitting Diode market segmentation includes Commercial, Residential, and Automotive. The residential category has the largest market share. LEDs are aesthetically pleasing and need relatively little power in homes. Compared to other lighting systems, which produce light 360 degrees surrounding the source, LED technology emits light for only 180 degrees, increasing comfort levels. 360-degree emissions need the use of auxiliary equipment to redirect or reflect light. Additionally, it offers a 60–75% increase in the facility's lighting's total energy efficiency. LEDs produce the ideal lighting ambiance because they can run at almost any percentage of their rated power, from 0% to 100%. Smart LED lighting solutions are well-liked in the residential market as houses become increasingly intelligent using IoT-based gadgets.
The fastest growing is anticipated for the commercial category. LED high-bay lighting is used in large-scale commercial warehouses and logistics facilities to provide uniform and efficient illumination for enhanced safety and productivity in high-ceilinged situations.
Figure 1: United States LED Light Emitting Diode Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
United States generated the highest CAGR of the LED Light Emitting Diode market. Because technological innovation and advancement are highly regarded in the United States, innovative light-emitting diode (LED) lighting solutions are produced by American corporations that frequently make significant investments in R&D. Their competitive advantage in the market may come from these advances. Additionally, one of the primary factors driving the rise of the LED Light Emitting Diode market in the United States is the increased emphasis on energy efficiency. Compared to conventional incandescent or fluorescent lights, LED technology is renowned for its energy-saving qualities and provides a more environmentally friendly lighting option.
The LED Light Emitting Diode Systems market is anticipated to expand further due to large industry players investing heavily in R&D to expand their product lines. In tandem with these significant developments in the market, industry players undertake diverse tactical initiatives to expand their market penetration. These activities include new component types, contracts, mergers and acquisitions, higher investments, and collaboration with other companies. It must offer reasonably priced products for the LED Light Emitting Diode industry to expand and prosper in a more competitive and dynamic market.
Investing in research and development operations is one way that major United States LED Light Emitting Diode market players are trying to boost market demand, including Cree Inc., Eaton, GE Lighting, Hubbel Brands Inc., United States LED Limited, Acuity Brands Inc., and Technical Consumer Products Inc.
March 2022: Verjure is a professional-grade LED lighting system for horticulture that offers reliable and efficient performance for indoor applications. It was introduced by Acuity Brands, Inc.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 11.8 Billion |
| Market Size 2023 | USD 12.9 Billion |
| Market Size 2032 | USD 26.7 Billion |
| Compound Annual Growth Rate (CAGR) | 9.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Product Type, Installation Type, Wattage Type, and Application, |
| Countries Covered | United States |
| Key Companies Profiled | Cree Inc., Eaton, GE Lighting, Hubbel Brands Inc., United States LED Limited, Acuity Brands Inc., and Technical Consumer Products Inc. |
| Key Market Opportunities | ·        Accelerated adoption of energy-saving lighting technologies. ·        Government incentive programs |
| Key Market Dynamics | ·        Increasing focus on energy efficiency ·         Growing demand for well-being and health |
Frequently Asked Questions (FAQ) :
The United States LED Light Emitting Diode market size was valued at USD 12.9 Billion in 2023.
The market is projected to grow at a CAGR of 9.50% during the forecast period, 2024-2032.
The key players in the market are Cree Inc., Eaton, GE Lighting, Hubbel Brands Inc., United States LED Limited, Acuity Brands Inc., and Technical Consumer Products Inc., among others.
The software category dominated the market in 2023.
The lamps category had the largest share of the market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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