The North America Linear LED Strip Fixture Market would witness market growth of 11.5% CAGR during the forecast period (2023-2030).In the year 2019, the North America market's volume surged to 11,467.2 thousand units, showcasing a growth of 6.4% (2019-2022).
It is projected that government restrictions on the installation of incandescent lighting and other incentive schemes to encourage the use of linear LED strip lamps would create new growth prospects for the producers of those fixtures. The future of lighting in the US could be significantly altered by LED, a very energy-efficient lighting technology.
Residential LEDs, especially those with the ENERGY STAR label, use at least 75% less energy and can last up to 25 times longer than incandescent bulbs. The reduction of energy consumption in the US could be significantly impacted by the widespread usage of LED lighting. Most lighting installations are expected to employ LED technology by 2035, and energy savings from LED lighting might reach 569 TWh annually, equivalent to the yearly energy production of more than 92 1,000 MW power plants.
The need for various lights and light switch types will increase in this region during the next few years. Customers in industrialized nations like the United States and Canada spend more money on enhancing the aesthetics and comfort of their homes, which is mostly responsible. Additionally, North America has important areas that are necessary for commercial zone lighting. Smart lighting solutions are becoming more popular as a result of government initiatives towards smart cities. In 2020, 54% of homes with an annual income of $100,000 or more reported using primarily LED bulbs, compared to 39% of households receiving less than $20,000 per year. Thus, with the expansion of smart lighting along with the strong government backing, the market will expand rapidly in this region in the coming years.
The US market dominated the North America Linear LED Strip Fixture Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market volume of 26,523.3 Thousand Units by 2030. The Canada market is registering a CAGR of 15.9% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 15% during (2023 - 2030).
Based on Application, the market is segmented into Residential, Hospitality, Commercial office Spaces, Retail, Architectural, Landscape & Graphic Arts, Educational Institutes and Others. Based on Color Temperature, the market is segmented into 3,000-K- 4,000 K, Less than 3,000 K, Above 4,000 K- 5,000 K and Above 5,000 K. Based on Output Voltage, the market is segmented into 24 V, 12 V, and 5 V. Based on Mounting Type, the market is segmented into Recessed, Suspended, Surface, and Pendant. Based on Fixture Wattage, the market is segmented into 15 W to 50 W, Above 50 W, and Less than 15 W. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Linear LED Strip Fixture Market is Projected to reach USD 5.2 Billion by 2030, at a CAGR of 12.3%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Acclaim Lighting, LLC, GENLED Brands, Acuity Brands, Inc., American Lighting, Inc, Cree Lighting (Ideal Industries, Inc.), Elemental LED, Inc., Haichang Optotech Co., Limited, Hubbell Incorporated, Insight Lighting and Ecosense Lighting, Inc. (Korrus).
By Application (Volume, Thousand Units, USD Million, 2019-2030)
By Color Temperature (Volume, Thousand Units, USD Million, 2019-2030)
By Output Voltage (Volume, Thousand Units, USD Million, 2019-2030)
By Mounting Typ (Volume, Thousand Units, USD Million, 2019-2030)e
By Fixture Wattage (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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