North America LED Lighting Market

North America LED Lighting Market Size (2024-2032):

The size of the North America LED lighting market was worth USD 24.98 billion in 2023. The North America> market is anticipated to grow at a CAGR of 7.91% from 2024 to 2032 and be worth USD 49.56 billion by 2032 from USD 26.96 billion in 2024.

Market Scenario

LED lighting circuit converts alternating current to direct current at minimum voltage. High temperatures may cause premature failures, so these lights are to be maintained at a constant temperature for better performance. LED drivers used in the circuit provides features like dimming and control. Users can choose among the varied designs of the lamps according to the application.

The rise in the demand for energy-efficient products in every application is a major factor accelerating the demand of the market. Increasing revenue in most of the countries is propelling the demand for the regional market.

However, the volatility of the raw materials is impeding the demand of the market. Also, decreasing skilled labor for manufacturing effective bulbs is limiting the growth of the market.

The adoption of the latest technology and launch of various features for the existing products is likely to outshine the growth of the North American market. Shifting trend towards the innovative infrastructures is surging growth opportunities for the market.

Market Segmentation

North America LED Lighting Market Analysis By Product Type

• Lamp
• Luminaire

Based on product type, the Lamp segment is dominating with the highest shares of the market with the rise in the demand to manufacture several lamps according to the requirement.

North America LED Lighting Market Analysis By Application

• Indoor
• Outdoor LightingBased on application, the Indoor lighting segment is leading with the highest shares of the market. Increasing constructional activities with the latest equipment are fueling the demand of the market.

Geographical Analysis

• United States
• Canada
• Rest of North America

Regionally, the market is held by North America by owing to the quick adoption of the latest technological developments. Also, increasing disposable income in urban areas is lavishing the demand of the market. The rise in the construction of the smart home buildings in developed and developing countries is prompting demand of the market. Growing demand for cost-effective and easy installation lamps is greatly influencing the growth of the market. Increasing electricity bills by the government are also bolstering the demand of the market. The USA is contributing the largest shares of the market among all other countries.

Market Key Players

Key players in the North American LED lighting market are Osram GmbH, Digital Lumens Inc., Signify Holding, General Electric, Cree, Inc., Dialight, Eaton, and others.