Outdoor Landscape Lighting Market in North America to grow by USD 147.51 million from 2021 to 2026
Aug 22, 2023
NEW YORK, Aug. 24, 2023 /PRNewswire/ -- The outdoor landscape lighting market in North America is expected to grow by USD 147.51 million from 2021 to 2026. However, the growth momentum will progress at a CAGR of 5.22% during the forecast period, according to Technavio. The outdoor landscape lighting market in North America is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Acuity Brands Inc., ALLIANCE Outdoor Lighting, Amp Lighting, Eaton Corp. Plc, General Electric Co., Halco Lighting Technologies LLC, Hubbell Inc., IDEAL INDUSTRIES INC., Kichler Lighting LLC, and LEDiL are some of the major market participants - Request a sample report
Outdoor Landscape Lighting Market in North America 2022-2026: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The outdoor landscape lighting market in North America report covers the following areas:
Outdoor Landscape Lighting Market in North America Size
Outdoor Landscape Lighting Market in North America Trends
Outdoor Landscape Lighting Market in North America Industry Analysis
Porter's Five Forces Analysis
The outdoor landscape lighting market in North America is fragmented, and the degree of fragmentation will accelerate. The growing demand for led lighting for different applications will offer immense growth opportunities. However, the poor performance of LED lighting products at high temperatures will hamper the market growth.
Outdoor Landscape Lighting Market in North America 2022-2026: Drivers & Challenges
The growing demand for LED lighting for different applications is notably driving market growth. The steady decline in the average selling price (ASP) of LED lighting is anticipated to have a favorable influence on its penetration and market size considerably, both in the residential and commercial sectors. The commercial viability of LEDs has increased their use across different applications, including commercial and residential applications. In North America, the outdoor landscape lighting market has a huge number of LED lighting manufacturers like General Electric Company and Cree, Inc. The adoption of LED lighting in the office and residential sectors has expanded in developing countries like the US and Canada due to the additional advantages of LED technologies, such as low energy consumption and low operating cost compared to conventional lighting products.
The poor performance of LED lighting products at high temperatures will be a major challenge hindering market growth. Since LED lights operate on electricity, which generates heat, the continuous transmission of current leads to deviations in the light output of an LED as a function of its junction temperature. The performance of LED chips and their related products is inversely proportional to the temperature higher the temperature the lower the LED performance. Consequently, high temperatures involve the risk of imminent mechanical failure or a considerable drop in the LED lighting's performance. Factor such as high cost of LED lighting products is anticipated to pose a challenge to the overall growth of the outdoor landscape lighting market in North America.
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Outdoor Landscape Lighting Market in North America 2022-2026: Segment Analysis
Outdoor Landscape Lighting Market in North America 2022-2026: Segmentation Highlights
The report extensively covers outdoor landscape lighting market segmentation in North America by end-user (commercial and residential), light-source (traditional and LED), and geography (US and Rest of North America).
The outdoor landscape lighting market share growth in North America by the commercial segment will be significant during the forecast period. Companies of LED lighting will also record expanded market penetration due to the rising adoption of LEDs for outdoor space applications owing to their energy efficiency. The expanding corporate spaces across North America will continue to be a significant revenue contributor to and driver of this market segment during the forecast period.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report
Outdoor Landscape Lighting Market in North America 2022-2026: Key Highlights
CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist the outdoor landscape lighting market in North America growth during the next five years
Estimation of the size of the outdoor landscape lighting market in North America size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behaviour
The growth of the outdoor landscape lighting market in North America across the US and the Rest of North America
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of the outdoor landscape lighting market in North American vendors
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The Global LED Lighting Market size is estimated to grow by USD 34.82 billion between 2022 and 2027 accelerating at a compound annual growth rate (CAGR) of 7.35%. This report extensively covers market segmentation by application (residential, commercial, outdoor, industrial, and others), product (luminaries and lamps), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The declining manufacturing cost of LED lights is notably driving market growth.
The outdoor landscape lighting market is estimated to grow at a CAGR of 6% between 2022 and 2027. The size of the market is forecast to increase by USD 704.78 million. This report extensively covers market segmentation by application (ATG and underwater), source (led and traditional), end-user (commercial and residential), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing demand for LED lighting for different applications is notably driving market growth.
Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Geography
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
About USTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com
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