US LED Downlight Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

US LED Downlight Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:

The US LED downlight market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.7% during 2023-2028.

LED downlights are defined as recessed light fixtures which are mounted into a hollow opening in a ceiling. These lights are extensively used across residential and commercial spaces. LED downlights are energy efficient as well as eco-friendly lighting solutions, which emit light in the downward direction with a narrow beam. These lights have a relatively longer lifespan with minimum heat radiation. They currently find wide applications in shopping malls, offices, living rooms, kitchens, bathrooms, etc.

LED downlights are proficient of enduring tough conditions such as external shocks and vibrations, extreme weather conditions, and traffic-related public exposure, etc. This has resulted in LED downlights turning into one of the most favoured choices for outdoor lighting systems. In addition, the sales of these lights are also proliferating since they consume a significant lower amount of electricity and emit lesser amount of ultraviolet (UV) rays and heat. Apart from this, on account of the rising prices of electricity in several developing economies, the governments are taking initiatives to encourage the widespread incorporation of LED lights across various sectors.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the US LED downlight market report, along with forecasts at the country and regional levels from 2023-2028. Our report has categorized the market based on product type and application.

Breakup by Product Type:

Luminaire
Lamp and Retrofits

Breakup by Application:

Retrofit
Retail & Hospitality
Outdoor
Offices
Architectural
Residential
Manufacturing
Others

Breakup by Region:

South
West
Northeast
Midwest

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Acuity Brands Inc., Bridgelux Inc., Cree Inc., Eaton Corporation, Everlight Electronics, Feit Electric Company Inc., General Electric Company, Hubbell Incorporated, Lsi Industries, Osram Licht Ag, Phillips Electronics and Samsung Electronics Co. Ltd.

Key Questions Answered in This Report

1. What was the size of the US LED downlight market in 2022?
2. What is the expected growth rate of the US LED downlight market during 2023-2028?
3. What are the key factors driving the US LED downlight market?
4. What has been the impact of COVID-19 on the US LED downlight market?
5. What is the breakup of the US LED downlight market based on the product type?
6. What is the breakup of the US LED downlight market based on the application?
7. What are the key regions in the US LED downlight market?
8. Who are the key players/companies in the US LED downlight market?