Market Size of US LED Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Market Size (2023) | USD 11.59 Billion |
| Market Size (2028) | USD 18.54 Billion |
| CAGR (2023 - 2028) | 9.85 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US LED Market Analysis
The United States LED Market size is estimated at USD 11.59 billion in 2023, and is expected to reach USD 18.54 billion by 2028, growing at a CAGR of 9.85% during the forecast period (2023-2028).
The increasing demand for energy-efficient lighting systems, declining prices of LED (light emitting diode) products, and stringent government regulations are the major factors driving the adoption of LED lighting in the United States. LEDs are undergoing rapid technological and economic development as a new source of illumination in the country by investing in the sector. The US government is one of the significant adopters, innovators, and investors in the global LED market. LED lighting is available in various industrial and home products in the domestic space, and its demand has increased significantly.
- According to the US Department of Energy, the majority of the projected energy savings in 2035 may be driven by the increasing usage of LED (light emitting diode) lighting in industrial buildings, commercial and outdoor lighting applications characterized by extended operating hours, and high light output.
- One of the main factors influencing the adoption of LED lighting in the nation is the rising demand for energy-efficient lighting systems, which is being met by falling prices for LED goods and strict government restrictions. LEDs have seen tremendous technological and economic growth as a new source of illumination in the nation, spurring investment in the industry. One of the major investors, adopters, and inventors in the worldwide LED industry is the United States. In the domestic market, LED lighting is already accessible in a wide range of consumer and business goods, and the selection is steadily expanding.
- Additionally, because of advantages like high power efficiency, a prolonged lifespan, adjustability and durability, and environmental friendliness, LED lights are increasingly being utilized in a variety of settings, including government buildings, hospitals, stadiums, shopping malls, educational institutions, airports, trains, theaters, and various places. This has increased LED light sales. Further, due to their energy efficiency, LED lights may significantly reduce the number of traditional fuels needed for lighting in less developed nations. Due to infrastructure growth across the United States, more lighting options are required, and LED lights are the ideal alternative. As a result, there is a noticeable increase in demand for LED lights.
