US Indoor LED Lighting Market Size

US Indoor LED Lighting Market Analysis

The US Indoor LED Lighting Market size is estimated at 5.33 billion USD in 2024, and is expected to reach 6.49 billion USD by 2030, growing at a CAGR of 3.31% during the forecast period (2024-2030).

Want to share this? Click here to share on social media or embed it on your website.

5.33 Billion

Market Size in 2024 (USD)

6.49 Billion

Market Size in 2030 (USD)

1.11 %

CAGR (2017-2023)

3.31 %

CAGR (2024-2030)

Largest Segment by Indoor Lighting

65.29 %

value share, Commercial, 2023

In the United States, Canada was the largest foreign investor in commercial real estate, with cross-border flows of almost USD 19 billion in 2021.

Largest Segment by Commercial

30.58 %

value share, Retail, 2023

Retail sales in the United States grew significantly from USD 3 trillion in 2000 to nearly USD 6.6 trillion in 2021. Total retail sales grew by 8.9% Y-o-Y in 2022, indicating more use of LED lights in the country.

Fastest-growing Segment by Indoor Lighting

6.89 %

Projected CAGR, Industrial and Warehouse, 2024-2030

The cost of business logistics in the US amounted to more than USD 1.6 trillion in 2023, accounting for around 8% of the GDP, further promoting number of warehouses and industries.

Fastest-growing Segment by Commercial

4.54 %

Projected CAGR, Office, 2024-2030

The floor space of commercial buildings is projected to increase by 35% from 2021 to 2050, reaching a total of 124.6 billion meters by 2050. This indicates further usage of LED lights in offices.

Leading Market Player

45.90 %

market share, Acuity Brands Inc., 2022

Acuity Brands is one of the largest lighting manufacturers in the United States. The company is focused on expanding its lighting portfolio and geographic reach, which would thereby help the company strategically increase its customer base.

The increasing disposable income, government investments, and rising commercial construction in the region drive the growth of led lighting market

US Indoor LED Lighting Industry Segmentation

Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.

• In terms of value share, in 2023, commercial accounted for the majority of the share, followed by industrial and warehouse, and residential. The main factors contributing to the growth of the industrial sector's resilience are changes in labor force levels in China, less regulatory burden for US production than European counterparts, and greater vitality of manufacturing income relative to the United States Gross Domestic Product.
• In terms of volume share, in 2023, commercial accounted for the majority of the share, followed by the residential sector and industrial and warehouse sector. America's need for storage space is advancing toward a brighter future. With the acceleration of e-commerce, the warehousing industry may see more growth opportunities than ever. The US retail e-commerce sales in Q3 2020 are estimated at USD 209.5 billion. This is a 36.7% increase over Q3 2019.
• The construction industry is a growth industry in all areas. These include builders, contractors, and civil engineers in the private and commercial sectors. Employment in the construction and mining sector is expected to increase by 4% from 2019 to 2029, about the same rate as the average for all jobs. Part of the driver of this growth is the increasing demand for new buildings, roads, and other structures due to population growth.
• In 2022, there were 33.2 million small businesses in the United States. The five fast-growing startups are headquartered in San Francisco. 40% of US startups have at least one woman in leadership. Over 65% of small businesses reported profits in 2022. The above instances are expected to create more demand for Indoor LEDs in the coming years.