Albany, New York, April 3, 2017: In the recent years, the increasing global demand for highly efficient tubes and bulbs with long lifespans has favorably impacted the lighting products market. Considering this fact, Market Research Reports Search Engine (MRRSE) has recently inserted a new study to its massive catalog, titled as “U.S. Lighting Products Market- Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024”. This study provides a holistic perspective of the United States market and highlights the major trends and developments playing an influential role in the U.S. market’s growth over the forecast period.
According to the study key findings, the U.S. lighting products market is poised to exhibit a CAGR of 5.0% between 2014 and 2024. At this pace, the market’s valuation will reach US$285.84 billion by 2024 from US$185.65 billion in 2015. One of the prime reasons for this growth is the rising adoption of LED tubes and bulbs in the U.S. The analysts have also observed that this trend is likely to become prevalent across commercial as well as residential sectors, thus driving opportunities for the lighting products manufacturers across the U.S.
In the initial section, the report introduces the lighting products in detail along with its definition and evolution. The lighting products offer consumers a number of practical advantages over traditional light bulbs and products, thus the demand is high. The report finds that usage of energy efficient products such as LED lighting products is expected to grow in the coming years. Additionally, the lighting products market has been segmented by product type, application and retailers. On the basis of standalone type, it includes:
The market is also segmented on the basis of lighting fixture that ceiling fixtures, recessed lighting fixture, strip light fixture and others (chandeliers, pendants, etc.). Application-wise, the market has been further segregated into residential lighting, industrial lighting, commercial lighting and outdoor lighting. Among these, the residential lighting segment emerged dominant.
Moving further with this study, the buyers will also acquire the information about the market development trends by looking to the section which highlights the driver, restraint and opportunity expected to impact market’s growth until 2024. At present, The U.S. lighting products market is immensely gaining from the high demand for retrofitting and renovation across existing U.S. households. Similarly, advanced lighting bulbs and lamps are increasingly installed across parking areas and for traffic lights in the country. These factors are revealing the positive growth that the lighting products market is forecast to display in the U.S. in the coming years.
Browse Full U.S. Lighting Products Market Report with TOC :http://www.mrrse.com/us-lighting-products-industry
Moreover, the report also highlights the competitive landscape of the U.S. product lighting market by profiling the major market players. Currently, The Home Depot, Lowes, Target, Wal-Mart, Bed Bath & Beyond, Sam’s Club, Costco and Menards are the major market players in the U.S.
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