Lighting Products Market - U.S. Industry Analysis, Forecast 2024

1. Lighting Products Market - U.S. Industry Analysis, Forecast 2024 December 17, 2021 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. The Home Depot, Lowes, Target, Wal-Mart, Bed Bath & Beyond, Sam’s Club, Menards, and Costco are among the leading market players. Of these companies, The Home Depot emerged dominant holding a share of over 19% in the overall market in 2015. It is currently focusing on its future plans of expanding the presence across the U.S. suburban area. On account of such business policies, The Home Depot’s dominance is expected to continue through the report’s forecast period. Other companies as well will focus on expanding their regional presence in order to gain sustainable growth in the near future.  According to TMR, the U.S. lighting products market, which stood at US$185.65 bn in 2015, is forecast to reach US$285.84 bn by the end of 2024. If these figures hold true, the U.S. lighting products market will progress at a CAGR of 5.0% between 2016 and 2024. Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

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3. Residential Lighting Segment to be a Major Contributor to Market’s Growth By standalone type, pace of gains in the others segment is projected to remain the highest through the forecast period. The T8LED tube bulb segment will emerge as the second-lead in the market and held around 26% of the overall market in terms of value in 2016. Based on application, the residential lighting segment emerged dominant in 2015 and is expected to continue leading the market through the forecast period. TMR predicted its overall value-based share to reach over 69% by the end of 2016. The residential lighting segment is expected to gain from the increasing demand for retrofitting in the U.S. Growth Witnessed in Construction Sector to Fuel Demand for Lighting Products The lighting products market in the U.S. is treading along a positive curve. The rising installation of bulbs and lighting fixtures across major applications will aid the expansion of the U.S. lighting products market. Growth witnessed in the residential and non-residential constructions will thus have an inevitable impact on the overall demand for lighting products. Besides new constructions, the demand for retrofitting advance bulbs and tubes will emerge as a chief market driver. As the country focuses on propagating energy-efficiency and implements supportive policies, the U.S. will witness a considerable surge in the demand for lighting products across residential, industrial, commercial, and outdoor applications. Given the scenario, the demand for LED tubes and bulbs has accelerated. In the coming years other market segments are prophesized to benefit as well in response to the rising awareness. Further, the market is likely to benefit from the rising purchase of chandeliers and Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

4. other customizable lighting products aimed at enhancing the aesthetic view of residential and commercial complexes. Further, the growth in the purchase of chandelier and other customized fixture to enhance the aesthetic view of a premises at commercial and residential arena has made the U.S lighting product market attractive for new players. Ask for Brochure- https://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=185 Declining Construction of New Homes Poses Threat to Market Because the market’s success is intrinsically linked with construction activities within an economy, decline in construction of new homes witnessed in the U.S. will have a negative influence in its overall trajectory. This will act as a major growth barrier, threatening the market’s expansion in the coming years. Nevertheless, the U.S. is efficiently testing solar powered lighting products to bolster the use of non-renewable resources across industries. Several manufacturing companies are venturing into this practice by providing a wide-range of solar-powered decorative lighting products. This, coupled with investments in technological developments, will aid the lighting products market’s expansion in the U.S. in the coming years. About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

5. forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement. US Office Contact 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD