U.S.Outdoor LED Lighting Market, By Offering (Hardware, Software, Services), Installation Type (New Installation, Retrofit Installation), Wattage Type (50-150 W, More Than 150 W, Less Than 50 W), Application (Public Places, Highway and Roadway, Architectural)- Industry Trends and Forecast to 2025U.S. Outdoor LED lights are highly cost-effective as compared to conventional incandescent bulbs and compact fluorescent light bulbs. According to U.S. Department of Energy, ENERGY STAR LEDs can save the 75% consumption of electricity. The life of LED is high as compare to traditional incandescent bulbs and compact fluorescent light bulbs. The life of LED is 25 times than life of traditional incandescent bulbs. For instance, according to U.S. Department of Energy, life of LED is around 25,000 hours, where life of traditional incandescent bulbs is around 1000 hours.
U.S. outdoor LED lighting market is expected to reach million by 2025 and is projected to register a healthy CAGR of 7.1% in the forecast period of 2018 to 2025.
Market Segmentation: U.S.Outdoor LED Lighting Market
The U.S. outdoor LED lighting market is segmented into four notable segments which are offering type installation type, wattage type and application
- On the basis of offering type, the market is segmented into hardware, software and services. The hardware is sub-segmented into lamps, luminaires and control systems. Lamps are further sub-segmented into reflectors, tubes and others. Luminaires are further sub-segmented into troffers, downlights, roadway fixtures, outdoor area lights and others. Services are sub-segmented into design & installation and maintenance & support.
- In 2018, hardware segment is growing at the highest CAGR of 7.8% in the forecast period of 2018 to 2025. Hardware is expected to grow with the highest growing CAGR because of the decreasing cost of LEDs and increasing efficiency of LEDs.
- On the basis of Installation type, the market is segmented into new installation and retrofit installation. In 2018, new installation segment is growing at a specific CAGR. However retrofit installation segment is growing at the highest CAGR of 7.7% in the forecast period of 2018 to 2025.
- Growing advancement in outdoor LED lighting has led to replace the traditional lighting system with new installation which is ultimately growing the market for retrofit installation in U.S. outdoor LED lighting market.
- On the basis of wattage type, the market is segmented into less than 50 W, 50–150 W and more than 150 W. In 2018, more than 150 segment is growing at the highest CAGR of 7.7% in the forecast period of 2018 to 2025.
- More than 150 W wattage Type is expected to grow with the highest CAGR because of growing infrastructural activities in public places and highways & roadways that require more than 150 W LED lighting system to install. Hence, growing infrastructural activities in public places and highways & roadways will automatically fuel the market for more than 150 W LED lighting system.
- On the basis of application, the market is segmented into highway & roadway, architectural, public places and others. The public places are sub-segmented into commercial, airport perimeters, parking structures, stadium & area floodlighting, entertainment and others public places. In 2018, Public places segment is growing at the highest CAGR of 7.7% in the forecast period of 2018 to 2025.
- Public places segment is expected to grow with the highest CAGR due to rising commercialization among the emerging countries which is ultimately growing the market for public places segment.
Competitive Analysis: U.S.Outdoor LED Lighting Market
Some of the prominent participants operating in this market are Philips Lighting Holding B.V., General Electric, OSRAM , Cree, Inc., Zumtobel Group AG , Eaton , Dialight, GOOEE, EVLUMA and among others.
- On October , Philips Lighting has launched Philips Advance Xitanium 220W 1.35A 120-277V Outdoor LED Driver with 0-10V Dimming. This is an advanced version of previous outdoor LED Driver. Its specification include 50,000+ hour lifetime, excellent thermal performance, 6kV combi-wave surge rating to comply with ANSI C82.77-5 CAT C low, the efficiency of > 90% over the complete range of operation.
- On October, Philips Lighting has launched Philips Fortimo edge industrial LED modules. This is an advanced version of the previous Edge industrial LED modules. New specification include high energy efficacy, high lumen maintenance, high output and compact design, and high thermal capability up to 90 degree.
- In October, OSRAM Licht AG (Germany) launched first 50W seven- die LED emitter, which is used for controlling deliver intense, saturated colors and high quality white light color mixing
- In October, Cree, Inc. (U.S.) expanded the Industrial lighting portfolio in linear high bay luminaires, which is beneficial for construction and offers enhanced efficacy, reliability and high ambient temperatures.
Research Methodology: U.S.Outdoor LED Lighting Market
Primary Respondents: Key Opinion Leaders (KOL’s): Manufacturer, Industrial Professionals and OEMs.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers