LED Lamp Sales to Reach $13 Billion in 2022

LED lamps' market share is expected to reach 90% in 2022

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Apr 02, 2018, 12:15 ET

CLEVELAND, April 2, 2018 /PRNewswire/ -- LED lamps accounted for 75% of high-efficiency lamp sales in 2017. These products have gained market share rapidly since 2007, when they accounted for only 7% of sales. Demand for LEDs grew quickly because of widespread adoption in many lighting applications, but also because these products penetrated increasingly higher-value markets. These and other trends are presented in General Purpose LEDs & Other High-Efficiency Lighting in the US, 5th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/general-purpose-leds-other-high-efficiency-lighting-in-the-us-5th-edition-3611.htm

LED lamps' market share is expected to reach 90% in 2022, with demand amounting to $13 billion, nearly double that of 2017. New sales will be driven primarily by:

ongoing phase-outs of inefficient lighting, which will encourage many consumers to adopt LED products
rapidly increasing use of LED lamps for their for energy cost savings and long service lives
increasing consumer interest in smart LED lighting systems, supporting new growth in average product pricing and market value
improving affordability of basic types of LEDs, encouraging more widespread adoption
healthy growth in construction activity, contributing to new lighting installations that are likely to use LED lamps

The US market for all types of high-efficiency lighting is forecast to expand 7.8% per year to $15 billion in 2022. This market represents the growing portion of the overall lighting industry, which has seen significant disruption since 2007 due to new energy efficiency standards as well as the broad appeal of energy-saving, longer-lasting lamps.

Related studies include:

Smart Lighting (Q3 2018)
General Lighting Fixtures (Q2 2018)

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Consumer Goods studies can be purchased at https://www.freedoniagroup.com/, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group