The United States and Canada residential lighting fixture business reached a valuation of US$ 123.2 billion in 2023. Demand for residential lighting fixtures recorded a y-o-y growth of 7.5% in 2023.
Sales are expected to reach US$ 132.5 billion in 2024. By 2034, the United States and Canada residential lighting fixture business is projected to exhibit a 7.6% CAGR and a total size of US$ 275.6 billion.
The residential lighting fixture business is anticipated to be driven by several important factors, including the growing demand for ornamental lighting fixtures in the residential sector and the adoption of energy-efficient products such as LEDs and OLEDs. The idea of a smart home is becoming more popular, and lighting fixtures play a big role in interior design.
Manufacturers and brand owners are putting forward claims related to the product’s efficiency and effectiveness in a bid to convert the product’s USP into a larger share and to establish a strong presence in the business. The light fixture business has seen a lot of claims made by manufacturers in order to promote their brands. Consumer purchase patterns are significantly influenced by company claims.
The lighting industry is growing due to technology improvements, such as the incorporation of IoT capabilities and smart lighting systems. The increasing significance attributed to interior design and aesthetics in residential spaces is driving the need for creative and fashionable lighting solutions.
Task lighting for home workstations has become more significant as the idea of home offices has gained traction. Furthermore, there is a growing need for fixtures that promote health and well-being, similar to those that enable circadian lighting to replicate the cycles of natural light.
| Attributes | Key Insights |
|---|---|
| United States and Canada Residential Lighting Fixture Size (2023) | US$ 123.2 billion |
| United States and Canada Residential Lighting Fixture Business Estimated Size (2024) | US$ 132.5 billion |
| United States and Canada Residential Lighting Fixture Business Projected Size (2034) | US$ 275.6 billion |
| Value-based CAGR (2024 to 2034) | 7.6% |
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The demand for lighting fixtures in the United States and Canada is anticipated to gain from the growing uptake of connected home lighting systems and the switch to LED lighting. Conventional and LED consumer luminaires will continue to be the dominant segments in the consumer sector, with residential systems projected to increase at a robust rate.
In tandem with the rising penetration of smart home applications among households, the home systems business is expanding quickly. North America is regarded as a key global business for home systems. Hence, it is anticipated that the size of the residential lighting fixture business in the United States and Canada will increase at a decent pace during the projected period, at a 7.6% CAGR.
In residential settings, there has been a notable transition toward LED lighting technology by 2034. LEDs are long-lasting, energy-efficient, and provide a wide range of color and design options.
The business has been impacted by strict energy efficiency laws, such as the Energy Independence and Security Act (EISA) in the United States. Energy-efficient lighting technology, such as LED and compact fluorescent bulb (CFL) fixtures, is encouraged by these laws.
An increasingly popular trend in the business is the use of smart lighting systems. The growing trend of smart homes and home automation has raised the demand for remotely controlled lighting fixtures, frequently via voice-activated systems or smartphone apps.
Environmental factors and sustainability in house designs are becoming more popular. The need for environmentally friendly lighting fixtures and designs that put an emphasis on energy efficiency and the use of recyclable materials has risen as a result.
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Principal Consultant
In the table below of the growth potential of residential lighting fixtures in the United States and Canada, CAGRs of leading countries are provided. The United States will likely lead the field of residential lighting fixtures by exhibiting a CAGR of 6.8% from 2024 to 2034. The country is set to be followed by Canada, with a decent CAGR of 10.7% through 2034.
| Countries | CAGR |
|---|---|
| United States | 6.8% |
| Canada | 10.7% |
The working population's migration to tier-I cities due to increased employment opportunities is predicted to support the global urbanization trend. Notably, a stronger rate of urbanization growth is anticipated in Canada. The Canada residential lighting fixture business is estimated to rise at a CAGR of 10.7% during the forecast years.
Interest in lighting fixtures such as chandeliers with a variety of styles and functions has increased as a result of growing urbanization and business evolution. The need for lighting fixtures has also been spurred by advancements in the automation sector, which offer diversified and yet simplified user interaction. Opportunities for the lighting fixture sector are also created by consumers' shifting preferences and the companies' expanding product offers.
The United States-based corporations are creating wireless lighting fixtures because of their several benefits, which include long lifespans, energy savings, remote control compatibility, and programming capabilities. Hence, it is anticipated that the country's residential lighting fixture business will be driven by the need for wireless lighting fixtures.
In the United States, consumer lives are evolving quickly. During the anticipated period, rising urbanization and disposable income are the two elements anticipated to propel expansion.
Sales of lighting fixtures online are probably going to be driven by the availability of a wide selection of products and the growing adoption of smart lighting. As a result, the United States residential lighting fixture business is anticipated to rise at a CAGR of 6.8% during the projection period.
The table below highlights the demand for residential lighting fixtures in the United States and Canada by technology, sales channel, and product type. Under product type, the pendant segment will likely remain dominant in the assessment period with a CAGR of 10.6% by 2034. Based on the technology, the LED segment is set to showcase a significant CAGR of 8.1% through 2034 in the field of residential lighting fixtures in the United States and Canada.
| Segment | Value CAGR |
|---|---|
| LED (Technology) | 8.1% |
| Online Retailers (Sales Channel) | 10.9% |
| Pendants (Product Type) | 10.6% |
The pendant segment is predicted to expand at a CAGR of 10.6% over the course of the forecast period. Creating items with novel, creative designs and aesthetics is the most prevalent trend in the business landscape. Companies are spending more on product development in order to obtain a competitive edge over their rivals.
Due to expanding disposable income, people are spending more money on home décor these days. Generally regarded as elegant, pendant lights are utilized to improve the living room's appearance and give it a more refined, royal image.
The business is developing due to the production of pendants with exquisite materials and a rich, attractive appearance. It is also expanding due to the growing trend of matching these chandeliers and pendants to certain rooms, such as study rooms, dining rooms, and living rooms. The demand for pendant light fixtures is growing as a result of the creation of stylish designs at reasonable costs.
In terms of sales channels, the online retailer segment is projected to expand at a CAGR of 10.9% during the forecast period. This is due to the availability of several offers on products and growing e-commerce businesses in the United States and Canada. In addition, the availability of a wide range of products and the increasing penetration of smart lighting are likely to drive sales of lighting fixtures online in the assessment period.
Unlike marketplaces for typical electronics products, the general lighting fixture business is still regionally fragmented. This is mainly attributed to regional product specifications and how crucial it is to have access to local decision-makers, such as electrical installers, architects, and lighting designers. Nevertheless, each region has a different degree of fragmentation.
Since LED lighting fixtures are more long-lasting and energy-efficient than conventional incandescent and fluorescent lighting fixtures, it is anticipated that demand for these will increase in the forecast years. As LED is a novel technology, it comes with unique features and demands for product development. Hence, small-scale traditional fixture manufacturers can find it difficult to introduce LED lighting fixtures.
Prominent LED fixture manufacturers will get a chance to briefly expand their share. However, LED technology is expected to rise with a CAGR of 8.1% during the projection period.
LED lighting is now extensively used in both commercial and residential settings. It can be found in a variety of home and industrial products. The quick development of LED technology results in more creative items and more efficient manufacturing, which drives down costs.
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The United States and Canada residential lighting fixture business has a fragmented competitive landscape, with several players competing on the basis of product quality, effectiveness, brand reputation, and price. Companies are investing in research and development activities to create new and innovative products.
They are also focusing on expanding their distribution channels. In addition to the ecosystem's key manufacturers, there are also smaller firms selling residential lighting fixtures at more affordable costs.
For instance,
| Attribute | Details |
|---|---|
| United States and Canada Residential Lighting Fixture Business Size (2024) | US$ 132.5 billion |
| United States and Canada Residential Lighting Fixture Projected Size (2034) | US$ 275.6 billion |
| Value-based CAGR (2024 to 2034) | 7.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Analysis | US$ million for Value |
| Key Countries Covered | United States, Canada |
| Key Segments Covered | Product Type, Power Source, Technology, Usage, Sales Channel |
| Key Companies Profiled | Philips; Acuity Brands Lighting, Inc.; Eaton Corporation; Leviton Manufacturing Co., Inc.; Legrand; Ideal Industries, Inc.; Lutron Electronics Co., Inc.; RAB Lighting; Osram Licht AG; Cree, Inc.; Eaton Corporation; Osram Sylvania; Hubbell Lighting; Cooper Lighting; Zumtobel Group; Eaton Corporation; Panasonic; Osram; Acuity Brands; GE Lighting; Leviton Manufacturing Co., Inc.; Legrand; Ideal Industries, Inc.; Osram Licht AG; Cree, Inc. |
| Report Coverage | Business Forecast, Competition Intelligence, Business Dynamics and Challenges, Strategic Growth Initiatives |
It is expected to reach a valuation of US$ 132.5 billion in 2024.
The pendants category is anticipated to rise at the dominant CAGR of 10.6%.
Philips, Acuity Brands Lighting, Inc., Eaton Corporation, and Cree, Inc.
The business rose at a 6.5% CAGR from 2019 to 2023.
In 2034, the business is set to reach US$ 275.6 billion.
1. Executive Summary 1.1. Business Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Overview 2.1. Coverage / Taxonomy 2.2. Definition / Scope / Limitations 3. Key Trends 3.1. Key Trends 3.1.1. Minimalist and Sleek Designs 3.1.2. Natural Materials 3.1.3. Vintage and Retro Inspirations 3.1.4. Smart and Customizable Lighting 3.1.5. Functional and Task-Oriented Lighting 3.1.6. Others (during the course of the study) 3.2. Future Prospects of Business 3.2.1. Factors Fueling Growth 3.2.2. Influx of Brands 3.2.3. Increasing Demand for Sustainable Products 4. Demand Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical and Current Household Expenditure on Analysis, 2019 to 2023 4.2. Y-o-Y Growth Trend Analysis 4.3. Y-o-Y Growth Trend Analysis 5. Business - Pricing Analysis 5.1. Regional Pricing Analysis By Product Type 5.2. Pricing Break-up 5.2.1. Manufacturer Level Pricing 5.2.2. Distributor Level Pricing 5.3. Regional Average Pricing Analysis Benchmark 6. Demand (in Value or Size in US$ million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 6.1. Historical Value (US$ million) Analysis, 2019 to 2023 6.2. Current and Future Value (US$ million) Projections, 2024 to 2034 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 7. Background 7.1. Macro-Economic Factors 7.1.1. GDP Growth Outlook 7.1.2. Business Overview 7.1.3. Spending Outlook 7.1.4. Service Outlook 7.2. Forecast Factors - Relevance and Impact 7.2.1. Top Companies Historical Growth 7.2.2. GDP Growth Forecast 7.2.3. Top Companies Historical Growth 7.2.4. Service Sector Gross Value Added 7.2.5. Industry Outlook 7.2.6. Urbanization Growth Outlook 7.3. Value Chain 7.3.1. Profit Margin Analysis at each sales point 7.3.2. List and role of key participant 7.3.2.1. Manufacture 7.3.2.2. Distributors/Retailers 7.4. Dynamics 7.4.1. Drivers 7.4.2. Restraints 7.4.3. Opportunity Analysis 7.5. PESTLE Analysis 7.6. Porter’s Five Force Analysis 8. Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product Type 8.1. Introduction / Key Findings 8.2. Historical Size (US$ million) Analysis By Product Type, 2019 to 2023 8.3. Current and Future Size (US$ million) Analysis and Forecast By Product Type, 2024 to 2034 8.3.1. Chandeliers 8.3.2. Flush Mount Ceiling Lights 8.3.3. Pendants 8.3.4. Semi-flush Mount Ceiling Lights 8.3.5. Others 8.4. Attractiveness Analysis By Product Type 9. Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, By Power Source 9.1. Introduction / Key Findings 9.2. Historical Size (US$ million) Analysis By Power Source, 2019 to 2023 9.3. Current and Future Size (US$ million) Analysis and Forecast By Power Source, 2024 to 2034 9.3.1. Battery-powered 9.3.2. Corded-electric 9.3.3. Hardwired 9.4. Attractiveness Analysis By Power Source 10. Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology 10.1. Introduction / Key Findings 10.2. Historical Size (US$ million) Analysis By Technology, 2019 to 2023 10.3. Current and Future Size (US$ million) Analysis and Forecast By Technology, 2024 to 2034 10.3.1. Incandescent 10.3.2. Fluorescent 10.3.3. LED 10.4. Attractiveness Analysis By Technology 11. Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, By Usage 11.1. Introduction / Key Findings 11.2. Historical Size (US$ million) Analysis By Usage, 2019 to 2023 11.3. Current and Future Size (US$ million) Analysis and Forecast By Usage, 2024 to 2034 11.3.1. Indoor 11.3.2. Outdoor 11.4. Attractiveness Analysis By Usage 12. Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Sales Channel 12.1. Introduction / Key Findings 12.2. Historical Size (US$ million) Analysis By Sales Channel, 2019 to 2023 12.3. Current and Future Size (US$ million) Analysis and Forecast By Sales Channel, 2024 to 2034 12.3.1. Direct Sales 12.3.2. Modern Trade 12.3.3. Departmental Stores 12.3.4. Specialty Stores 12.3.5. Online Retailers 12.3.5.1. Direct to Consumer 12.3.5.2. Third Party to Consumer 12.3.6. Other Sales Channel 12.4. Attractiveness Analysis By Sales Channel 13. Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Country 13.1. Introduction / Key Findings 13.2. Historical Size (US$ million) Analysis By Country, 2019 to 2023 13.3. Current and Future Size (US$ million) Analysis and Forecast By Country, 2024 to 2034 13.3.1. United States 13.3.1.1. West Region 13.3.1.2. South West Region 13.3.1.3. Mid-West Region 13.3.1.4. North East Region 13.3.1.5. South East Region 13.3.2. Canada 13.4. Attractiveness Analysis By Country 14. West Sales Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 14.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 14.4.1. By Product Type 14.4.2. By Power Source 14.4.3. By Technology 14.4.4. By Usage 14.4.5. By Sales Channel 14.5. Attractiveness Analysis 14.5.1. By Product Type 14.5.2. By Power Source 14.5.3. By Technology 14.5.4. By Usage 14.5.5. By Sales Channel 14.6. Trends 14.7. Drivers and Restraints - Impact Analysis 14.8. Key Players Participants - Intensity Mapping 15. Mid-West Sales Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 15.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 15.4.1. By Product Type 15.4.2. By Power Source 15.4.3. By Technology 15.4.4. By Usage 15.4.5. By Sales Channel 15.5. Attractiveness Analysis 15.5.1. By Product Type 15.5.2. By Power Source 15.5.3. By Technology 15.5.4. By Usage 15.5.5. By Sales Channel 15.6. Trends 15.7. Drivers and Restraints - Impact Analysis 15.8. Key Players Participants - Intensity Mapping 16. North East Sales Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 16.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 16.4.1. By Product Type 16.4.2. By Power Source 16.4.3. By Technology 16.4.4. By Usage 16.4.5. By Sales Channel 16.5. Attractiveness Analysis 16.5.1. By Product Type 16.5.2. By Power Source 16.5.3. By Technology 16.5.4. By Usage 16.5.5. By Sales Channel 16.6. Trends 16.7. Drivers and Restraints - Impact Analysis 16.8. Key Players Participants - Intensity Mapping 17. South East Sales Analysis 2019 to 2023 and Forecast 2024 to 2034 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 17.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 17.4.1. By Product Type 17.4.2. By Power Source 17.4.3. By Technology 17.4.4. By Usage 17.4.5. By Sales Channel 17.5. Attractiveness Analysis 17.5.1. By Product Type 17.5.2. By Power Source 17.5.3. By Technology 17.5.4. By Usage 17.5.5. By Sales Channel 17.6. Trends 17.7. Drivers and Restraints - Impact Analysis 17.8. Key Players Participants - Intensity Mapping 18. South West Sales Analysis 2019 to 2023 and Forecast 2024 to 2034 18.1. Introduction 18.2. Pricing Analysis 18.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 18.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 18.4.1. By Product Type 18.4.2. By Power Source 18.4.3. By Technology 18.4.4. By Usage 18.4.5. By Sales Channel 18.5. Attractiveness Analysis 18.5.1. By Product Type 18.5.2. By Power Source 18.5.3. By Technology 18.5.4. By Usage 18.5.5. By Sales Channel 18.6. Trends 18.7. Drivers and Restraints - Impact Analysis 18.8. Key Players Participants - Intensity Mapping 19. Sales Analysis 2019 to 2023 and Forecast 2024 to 2034 19.1. Introduction 19.2. Pricing Analysis 19.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 19.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 19.4.1. By Product Type 19.4.2. By Power Source 19.4.3. By Technology 19.4.4. By Usage 19.4.5. By Sales Channel 19.5. Attractiveness Analysis 19.5.1. By Product Type 19.5.2. By Power Source 19.5.3. By Technology 19.5.4. By Usage 19.5.5. By Sales Channel 19.6. Trends 19.7. Drivers and Restraints - Impact Analysis 19.8. Key Players Participants - Intensity Mapping 20. Structure Analysis 20.1. Analysis by Tier of Companies 20.2. Share Analysis of Top Players 20.3. Presence Analysis 21. Competition Analysis 21.1. Competition Dashboard 21.2. Competition Benchmarking 21.3. Competition Deep Dive 21.3.1. Philips 21.3.1.1. Overview 21.3.1.2. Product Portfolio 21.3.1.3. Profitability by Segments (Product/Channel/Region) 21.3.1.4. Sales Footprint 21.3.1.5. Strategy Overview 21.3.2. Acuity Brands Lighting, Inc. 21.3.3. Eaton Corporation 21.3.4. Leviton Manufacturing Co., Inc. 21.3.5. Legrand 21.3.6. Ideal Industries, Inc. 21.3.7. Lutron Electronics Co., Inc. 21.3.8. RAB Lighting 21.3.9. Osram Licht AG 21.3.10. Cree, Inc. 21.3.11. Eaton Corporation 21.3.12. Osram Sylvania 21.3.13. Hubbell Lighting 21.3.14. Cooper Lighting 21.3.15. Zumtobel Group 21.3.16. Eaton Corporation 21.3.17. Panasonic 21.3.18. Osram 21.3.19. Acuity Brands 21.3.20. GE Lighting 21.3.21. Leviton Manufacturing Co., Inc. 21.3.22. Legrand 21.3.23. Ideal Industries, Inc. 21.3.24. Osram Licht AG 21.3.25. Cree, Inc. 21.3.26. Others (as requested) 22. Assumptions and Acronyms Used 23. Research Methodology
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Residential Lighting Fixture Industry Analysis in United States and Canada
