US LED Lighting Market Outlook to 2021- Demand for Energy Efficient Lighting and Government Initiatives to Lighten the Future
April 2017
131
About the Report
About the Report
The report titled "US LED Lighting Market Outlook to 2021- Demand for Energy Efficient Lighting and Government Initiatives to Lighten the Future" provides a comprehensive analysis of LED Lighting market in US. The report focuses on various aspects such as market size of US LED lighting industry by revenue generated and production volume and market segmentation by lamps, bulbs, luminiaries, by utility and by distribution channels. The report covers a detailed overview on trade scenario for Light emitting diodes of US with other countries. The report also describes about major trends and developments, issues and challenges and government role and initiatives that have influenced the market to a large extent. This publication helps the readers to understand the cost analysis for LED Lighting in US as well as recent technologies related to US LED Lighting. Competition prevailing in the sector along with detailed company profiles has been thoroughly covered in the report. The report concludes with market projection for future and analyst recommendation highlighting the major opportunities and cautions.
LED Lighting Market in US
The LED lighting market of the US has witnessed a rapid growth over the recent past. Technological advancements in the market have been the major reason responsible for growing product lines of LED lights in the country. The growing concern among the population about the amount of heat emitted by traditional fluorescent lights has made people shift to more energy saving resources, thereby expanding the overall size of LED lighting market in the country from USD ~ million in 2011 to USD ~ million during 2016.
Market Segmentation
By Type of LED: Lower initial cost and ease of installation of LED lamps have made lamps to dominate the market, contributing ~% of the revenue to the total revenues of US LED market in 2016. LED luminaires have been successful in driving the overall LED lighting market of the US by increasing their revenue share from ~% in 2014 to ~% in 2016. The traditional use of incandescent bulbs has been replaced by the use of LED reflectors, contributing revenue share of ~% to the overall market from the sale of LED lamps. LED tubes and other LEDs typically including simple bulbs contributed ~% and ~% share to the revenues of LED lamps in the US. LED luminaires which include downlights, troffers, roadway fixtures, outdoor area lights and other luminaires generated revenues worth USD ~ million, USD ~ million, USD ~ million, USD ~ million and USD ~ million revenues respectively in the LED lighting market of the US during 2016.
By Application of LED Lights: The increased demand for directional LEDs by shopping malls to showcase their products and their use in flood lights, made this segment dominate the LED market with revenue share of ~% in the overall sales of LED lights during 2016. Following directional LEDs, A-Type LEDs generated revenue of USD ~ million in 2016. LED linear fixtures and building exteriors contributed ~% and ~% of the revenues respectively in 2016. The dimming requirements and high color quality provided by decorative LEDs has enabled the segment to garner revenues worth USD ~ million during 2016. Further, LED for parking garage, Roadway LED, Small Directional LED, Parking lot LED and High/Low Bay LED contributed ~%, ~%, ~%, ~% and ~% respectively to the total revenues of LED lights in 2016.
By Usage (Indoor LEDs and Outdoor LEDs): Outdoor LEDs have contributed ~% to the revenues of LED lights in 2016. Indoor LEDs which are used in commercial, residential and industrial sector have contributed ~%, ~% and ~% share to the total sales of indoor LED lights in the US during 2016. Outdoor LEDs that are used in building exteriors, parking garage, roadway and parking lots contributed ~%, ~%, ~% and ~% share in revenues during 2016
Competitive Landscape
US LED lighting market is highly concentrated with the presence of few leading lighting manufacturers in the country. Since the sector requires large amount of capital to be invested, this has inhibited the emergence of several companies in the space. Frequent introduction of new LED products, rapid changes in technology, changing customer requirements, short product life cycles and prices of similar technology by various companies are common platforms on which the competition prevails in the overall lighting market of the US. Lighting companies such as Cree, Acuity brands, Copper Lighting division of Eaton Corporation, general electric company, Hubbell Incorporated, Philips and Osram are the major competitors in the market.
Future Analysis and Projections
The US LED lighting market is expected to grow at a robust CAGR of ~% from 2016 to 2021 owing to rising number of market players, increasing awareness about online energy saving lights among customers, and growing efforts of government to shift customers towards LED lights. The LED lighting market will witness launch of innovative LED products being introduced in the market which will lead to an increase in demand by the population, thus making the LED industry contribute a larger share to the total economy.
Key Topics Covered in the Report:
- Overview and Genesis for the US LED Lighting Market
- Comparative Analysis for the US LED Lighting Market with Global Market
- US LED Lighting Market Value Chain Analysis
- US LED Lighting Market Size, 2011-2016
- US LED Light Market Segmentation
- Trade Scenario for the US LED Lighting Market
- Cost Analysis for LED Lighting in the US Market
- Decision Making Process Before Purchasing LED Lighting in the US Market
- Trends and Developments in the US LED Lighting Market
- Issues and Challenges in US LED Lighting Market
- SWOT Analysis for the US LED Lighting Market
- Recent Technologies in US LED Lighting Market
- Manufacturing Clusters for LED and Component Manufacturers in the US
- Government Initiatives and Regulations in the US LED Lighting Market
- Competitive Scenario in US LED Lighting Market
- Competitive Landscape of Major Players in US LED Lighting Market
- US LED Lighting Market Future Outlook and Projections
- Macroeconomic Indicators Affecting US LED Lighting Market
Products
Products
Indoor Lighting, Outdoor Lighting, Lamps, Lumanaries, Downlights, Troffers, Roadway Fixtures, LED Reflectors, LED Tubes, Other LED Lamps, Outdoor Area Lights, LED Directional, LED A-Type, LED Linear Fixtures, Building Exterior, LED Decorative, LED Parking Garage, Area/Roadway LED, LED Small Directional, Parking Lot LED, LED Low/High Bay.
Companies
Cree, Philips, GE, Osram Sylvania, Lighting Science Group Corporation, Acuity Brands, TCP International Holdings
Table of Contents
Table of Contents
1. Executive Summary
Market Potential
Market Segmentation
Competitive Landscape
Future Analysis And Projections
2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Size and Modeling
Approach – Market Sizing
Market Sizing- US LED Lighting Market
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Regression Matrix
Limitations
Final Conclusion
3. Overview and Genesis For the US LED Lighting Market
Genesis and Evolution of LED Lights
The Use of LED Lights in the US
4. Comparative Analysis for the US LED Lighting Market with Global Market
LED Patents in the Global Market
5. US LED Lighting Market Value Chain Analysis
5.1. Major Entities Involved in Value Chain and their Strategies
6. US LED Lighting Market Size, 2011-2016
6.1. By Revenue and Sales Volume, 2011-2016
7. US LED Lighting Market Segmentation
7.1. By Type of LEDs, 2014- 2016
7.1.1. By Type of Lamps, 2016
7.1.2. By Types of Luminaires, 2016
7.2. By Application of LED, 2014-2016
7.3. By Usage, 2016
7.3.1. By Indoor LEDs, 2016
7.3.2. By Application of Outdoor LEDs, 2016
7.4. By Distribution Channels, 2016
8. Trade Scenario for the US LED Lighting Market
8.1. By Exports, 2011-2015
8.2. By Imports, 2011-2015
8.3. Import Charges on LED Lighting Products, 2011-2015
9. Cost Analysis for LED Lighting in the US Market
10. Decision Making Process Before Purchasing LED Lighting in the US Market
11. Trends and Developments in the US LED Lighting Market
11.1. Growing Mergers and Acquisitions in the Market
11.2. Increasing Application of Non-Visible LED Lights
11.3. Increasing Awareness About Energy Saving
11.4. Rising Electricity Prices in the US
11.5. Development of Lighting Sales Channels
11.6. External legislation and subsidy Programs concerning energy efficiency
12. Issues and Challenges in US LED Lighting Market
12.1. Lack of Standardization
12.2. Limited Scope for Adoption of LED Lighting on Streetlights
12.3. High Operating Expenditure for Streetlight Applications
12.4. High Investment
12.5. Lack of Awareness About Advanced Lighting Technologies
12.6. Imperative to meet Customer Standards
12.7. Low Market Penetration
13. SWOT Analysis for the US LED Lighting Market
14. Recent Technologies in US LED Lighting Market
15. Manufacturing Clusters for LED and Component Manufacturers in the US
16. Government Initiatives and Regulations in the US LED Lighting Market
16.1. Energy Star Certification
16.2. DLC (Design Lights Consortium)
16.3. Lighting Facts
16.4. LED Lighting Facts Label
16.5. Other Standards for LED Lighting in US
17. Competitive Scenario in US LED Lighting Market
18. Competitive Landscape of Major Players in US LED Lighting Market
18.1. Cree Inc.
18.2. Philips
18.3. General Electric Company
18.4. Osram Sylvania
18.5. Lighting Science Group Corporation
18.6. Acuity Brands Inc.
18.7. TCP International Holdings Ltd.
19. US LED Lighting Market Future Outlook and Projections
19.1. By Revenues, 2017-2021
19.2. By Type of LED, 2021
19.3. By Usage, 2021
19.4. By Price, 2035
19.5. Upcoming Technologies in the Lighting Market
19.6. Analyst Recommendations
20. Macroeconomic Indicators Affecting US LED Lighting Market
20.1. Electricity Consumption in the US, 2011-2021
20.2. Revenues from Parking Lots and Garages in the US, 2011-2021
20.3. Housing Sales in the US, 2011 - 2021
20.4. Household Disposable Income in the US, 2011 - 2021
20.5. Average Price of LED Lights in the US, 2011 - 2021
Disclaimer
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List of Figure
Figure 1-1: Flow Chart for US LED Lighting Market
Figure 5-1: US LED Lighting Market Value Chain
Figure 5-2: Competitors along LED Value Chain (Non-Exhaustive)
Figure 6-1: US LED Lighting Market Size on the Basis of Sales Value in USD Million and Growth Rate in Percentage, 2011-2016
Figure 6-2: US LED Lighting Market Size on the Basis of Sales Volume in Million Units and Growth Rate in Percentage, 2011-2016
Figure 7-1: US LED Lighting Market Segmentation by Type of LEDs (Lamps/Luminaires) on the Basis of Revenues in Percentage, 2014-2016
Figure 7-2: US LED Light Market Segmentation by Type of Lamps (LED Reflectors/LED Tubes/Other LEDs) on the Basis of Revenue in Percentage (%), 2016
Figure 7-3: US LED Lighting Market Segmentation by Type of Luminaires (Downlights, Troffers, Roadway Fixtures, Outdoor Area Lights and Other Luminaires) on the Basis of Revenue in Percentage (%), 2016
Figure 7-4: US LED Lighting Market Segmentation by Application of LED on the Basis of Revenue in Percentage (%), 2014 - 2016
Figure 7-5: US LED Lighting Market Segmentation by Usage (Indoor/Outdoor) on the Basis of Revenue in Percentage (%), 2016
Figure 7-6: US LED Lighting Market Segmentation by Indoor LEDs (Commercial, Residential and Industrial) on the Basis of Revenues in Percentage (%), 2016
Figure 7-7: Housing Units in the US, 2014 - 2016
Figure 7-8: Available Industrial Space in the US in Thousand Square Meters, 2014 - 2016
Figure 7-9: Commercial Office Space in the US in Million Square Feet, 2015 - 2016
Figure 7-10: US LED Lighting Market Segmentation by Application of Outdoor LEDs on the Basis of Revenue in Percentage (%), 2016
Figure 7-11: US LED Lighting Market Segmentation by Distribution Channels (Electrical Wholesalers, Home Depot, ESCO, Utilities, Lighting Showrooms, and Direct/National Accounts) on the Basis of Revenue in Percentage, 2016
Figure 8-1: US LED Lighting Export Market on the Basis of Export Value in USD Million, 2011-2015
Figure 8-2: US LED Lighting Export Market on the Basis of Export Volume in Million Units, 2011-2015
Figure 8-3: US LED Lighting Export Market by Major Destinations (Hong Kong, Mexico, Singapore and others) on the Basis of Export Value in Percentage (%), 2015
Figure 8-4: US LED Lighting Import Market on the Basis of Import Value in USD Million, 2011-2015
Figure 8-5: US LED Lighting Import Market on the Basis of Import Volume in Million Units, 2011-2015
Figure 8-6: US LED Lighting Import Market by Major Destinations (China, Japan, Malaysia, Taiwan and others) on the Basis of Import Value in Percentage, 2015
Figure 8-7: Import Charges Including Insurance and Freight Charges on LED Lighting Products in the US in USD Thousand and Contribution to Overall Import Value in Percentage, 2011-2015
Figure 9-1: Cost Breakdowns of LED Lights (Outdoor Area Lamps, Interior Downlights and Replacement Lamps) in the US LED Lighting Market on the Basis of Mechanical/ Thermal/ Electrical Charges, Drivers, Assembly, LED Package, Optics and Overheads in Percentage (%), 2015
Figure 9-2: Cost Breakdown for LED Package on the Basis of components in Percentage, 2016
Figure 11-1: Average Retail Electricity Prices in the US in Cents per Kilowatt Hour, 2010-2015
Figure 18-1: Financial Performance of Cree Inc. on the Basis of Revenues from Sale of LED Lighting and LED Products in USD Million, 2011-2016
Figure 18-2: Financial Performance of Cree Inc. on the Basis of Net Revenues from Sale of LED Products in the US in USD Million, 2014-2016
Figure 18-3: Gross Margin of Cree Inc. from Sale of LED Products in the US in Percentage, 2014-2016
Figure 18-4: Financial Performance of Philips on the Basis of Net Revenues from Sale of LED Products in North America in USD Million, 2011-2015
Figure 18-5: Revenue Share from Sales of Philips LEDs in the Company’s Overall Sales in the US Market in Percentage, 2011-2015
Figure 18-6: Financial Performance of GE on the Basis of Revenues from Appliances and Lighting Business in USD Billion, 2011-2015
Figure 18-7: Financial Performance of GE on the Basis of Net Revenues from Sale of LED Products in the US in USD Million, 2014-2015
Figure 18-8: Revenue Share from Sales of LED Lights in the Company’s overall sales in the US Market in Percentage, 2013-2015
Figure 18-9: Financial Performance of Osram Sylvania on the Basis of Revenues from US in USD Million, 2012-2016
Figure 18-10: Financial Performance of Osram Sylvania on the Basis of Revenues Share from LED Business in Percentage (%), 2012-2016
Figure 18-11: Financial Performance of Lighting Science Group Corporation on the Basis of Revenues from LED Lighting in the US in USD Million, 2011-2015
Figure 18-12: Financial Performance of Lighting Science Group Corporation’s on the Basis of Share of LED Lights from Home Depot on the Basis of Revenues in Percentage (%), 2013-2015
Figure 18-13: Annual Advertising Expenditure of Lighting Science Group Corporation in USD Thousand, 2013-2015
Figure 18-14: Financial Performance of Acuity Brands on the Basis of Net Sales in USD Million, 2011-2016
Figure 18-15: Financial Performance of TCP International Holdings Ltd. on the Basis of Net Revenues from Sale of LED Lights in the US in USD Million, 2012-2014
Figure 18-16: Financial Performance of TCP Lighting on the Basis of Contribution of Revenues from US in Percentage (%), 2013-2015
Figure 19-1: Future Outlook and Projections for the US LED Lighting Market on the basis of Revenues in USD Million, 2017-2021
Figure 19-2: Projected Efficacy of LED Lamps in US by Lamp Type (Lumens per Watt), 2015 and 2020
Figure 19-3: Future Outlook and Projections for the US LED Lighting Market by Type of LEDs on the basis of Revenues in Percentage, 2021
Figure 19-4: Future Outlook and Projections for the US LED Lighting Market by Usage (Indoor/Outdoor) on the basis of Revenues in Percentage, 2021
Figure 20-1: Electricity Consumption in the US on the basis of Kilowatt Hours in Billions, 2011 - 2021
Figure 20-2: Revenues from Parking Lots and Garages in the US in USD Billion, 2011 - 2021
Figure 20-3: Housing Sales in the US on the Basis of Units Sold in Thousands, 2011 - 2021
Figure 20-4: Household Disposable Income in the US in USD Billion, 2011 - 2021
Figure 20-5: Average Price of LED Lights in the US in USD, 2011 - 2021
List of Table
Table 2-1: Correlation Matrix for the US LED Lighting Market
Table 2-2: Regression Coefficients Output
Table 3-1: Average Daily Operating Hours by End Use Sector, 2010
Table 3-2: Average and Most Efficacious LED Products from DOE’s Lighting Facts Database
Table 3-3: Cost and Performance Comparison of Different Types of Lighting (LED Lamp, CFL Light and Incandescent Bulb)
Table 4-1: Top Patent Holders for LED General Lighting in Global Market, 2015
Table 6-1: Rationale and Description for US LED Lighting Market on the Basis of Revenue and Sales Volume, 2011-2016
Table 7-1: Rationale and Description for US LED Light Market Segmentation by Type of LEDs, 2014-2016
Table 7-2: US LED Lighting Market Segmentation by Type of LEDs (Lamps/Luminaires) on the Basis of Revenue in USD Million, 2014-2016
Table 7-3: Rationale and Description for US LED Light Market Segmentation by Type of Lamps, 2016
Table 7-4: US LED Light Market Segmentation by Type of Lamps (LED Reflectors/LED Tubes/Other LEDs) on the Basis of Revenue in USD Million, 2016
Table 7-5: Rationale and Description for US LED Lighting Market Segmentation by Type of Luminaires, 2016
Table 7-6: US LED Lighting Market Segmentation by Type of Luminaires (Downlights, Troffers, Roadway Fixtures, Outdoor Area Lights and Other Luminaires) on the Basis of Revenue in USD Million, 2016
Table 7-7: LED Downlights Energy Consumption and Savings Potential in the US, 2012
Table 7-8: LED Troffers Energy Consumption and Savings Potential in the US, 2012
Table 7-9: LED Streetlights Energy Consumption and Savings Potential in the US, 2012
Table 7-10: Rationale and Description for US LED Lighting Market Segmentation by Application of LED, 2014 - 2016
Table 7-11: US LED Lighting Market Segmentation by Application of LED on the Basis of Revenue in USD Million, 2014 - 2016
Table 7-12: Prices of Types of LEDs in USD, 2011-2015
Table 7-13: LED Directional Lamps Energy Consumption and Savings Potential in the US, 2012
Table 7-14: LED Parking Garage Consumption and Savings Potential in the US, 2012
Table 7-15: LED Parking Lot Consumption and Savings Potential in the US, 2012
Table 7-16: Rationale and Description for US LED Lighting Market Segmentation by Usage, 2016
Table 7-17: US LED Lighting Market Segmentation by Usage (Indoor/Outdoor) on the Basis of Revenue in USD Million, 2016
Table 7-18: Rationale and Description for US LED Lighting Market Segmentation by Indoor LEDs on the Basis of Revenues, 2016
Table 7-19: US LED Lighting Market Segmentation by Indoor LEDs on the Basis of Revenue in USD Million, 2016
Table 7-20: Best LED Light Bulbs for Residential Purposes, March 2017
Table 7-21: US LED Lighting Market Segmentation by Application of Outdoor LEDs on the Basis of Revenues in USD Million, 2016
Table 7-22: Rationale and Description for US LED Lighting Market Segmentation by Distribution Channels, 2016
Table 7-23: US LED Lighting Market Segmentation by Distribution Channels (Electrical Wholesalers, Home Depot, ESCO, Utilities, Lighting Showrooms, Direct/National Accounts) on the Basis of Revenue in USD Million, 2016
Table 8-1: US LED Lighting Export Market by Major Destinations (Hong Kong, Mexico, Singapore and others) on the Basis of Export Value in USD Million, 2015
Table 8-2: US LED Lighting Import Market by Major Destinations (China, Japan, Malaysia, Taiwan and others) on the Basis of Import Value in USD Thousand, 2015
Table 10-1: Customer Decision Making Process before Purchasing LED Lights in the US
Table 10-2: Analysis of LED Color Temperature
Table 11-1: Latest Acquisitions in US LED Lighting Market, 2015-2016
Table 11-2: Comparison of Incandescent bulbs, CFLs and LED lights on the Basis of Cost Incurred
Table 12-1: Number of LEDs Installed and Penetration Rate in the US Lighting Market, 2014
Table 12-2: Number of LEDs Installed and Penetration Rate in the US Lighting Market, 2015
Table 13-1: SWOT Analysis for the US LED Lighting Market
Table 14-1: Recent Technologies in US LED Lighting Market
Table 15-1: LED Lights and Components Manufacturing Clusters in the US
Table 16-1: Standardization Bodies for LED Lighting in the US
Table 16-2: Legislation and Documentation required to become Eligible for Posting LED Products on Energy Star Website
Table 18-1: Company Profile for Cree Inc. Including Company Overview, USP, Business Strategy, Key Customers, Best Selling Products, Major Source of Revenue, Recent Developments and Total Number of Employees.
Table 18-2: Product Portfolio of Cree Inc and Price per Unit in USD
Table 18-3: Plant Locations for Cree Inc. in the US and Total Area of Each Plant in Sq. Ft.
Table 18-4: Company Profile of Philips Including Company Overview, USP, Business Strategy, Product Portfolio, Plant Location in the US, Recent Developments and Total Number of Employees.
Table 18-5: Philips Lighting Product Portfolio, 2016
Table 18-6: Company Profile of General Electric Company Including Company Overview, USP, Business Strategy, Key Customers, Partnerships and Acquisitions, Product Portfolio, Plant Location in the US, Recent Developments and Total Number of Employees.
Table 18-7: Company Profile of Osram Including Company Overview, USP, Business Strategy, Product Portfolio, Plant Location in the US, Recent Developments and Total Number of Employees.
Table 18-8: Osram LED Lighting Product Portfolio
Table 18-9: Company Profile of Lighting Science Group Corporation Including Company Overview, USP, Business Strategy, Product Portfolio, Subsidiaries, Patents, Plant Location in the US, Recent Developments and Total Number of Employees.
Table 18-10: Company Profile of Acuity Brands Inc. Including Company Overview, USP, Business Strategy, Brand Names, Product Portfolio, Plant Location in the US, Recent Developments, Revenue and Employees
Table 18-11: Company Profile of TCP International Holdings Ltd. Including Company Overview, USP, Business Strategy, Brand Names, Product Portfolio, Subsidiaries, Plant Location in the US, Recent Developments and Total Number of Employees.
Table 19-1: Future Outlook for the US LED Lighting Market on the Basis of Revenues, 2017 -2021
Table 19-2: Future Outlook and Projections for the US LED Lighting Market by Type of LEDs on the basis of Revenues in USD Million, 2021
Table 19-3: LED Lights and Luminaires Prices in USD, 2020 - 2035
Table 19-4: Rationale for Upcoming LED Technologies in the Lighting Market of the US
Table 19-5: Analyst Recommendations for US LED Lighting Market
Table 20-1: Rationale for Electricity Consumption in the US, 2011 - 2021
Table 20-2: Rationale for Parking Lots and Garages in the US, 2011 - 2021
Table 20-3: Rationale for Housing Sales in the US, 2011 - 2021
Table 20-4: Rationale for Household Disposable Income in the US, 2011 - 2021
Table 20-5: Rationale for Average Price of LED Lights in the US, 2011 - 2021
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