The market value of LED lamps installed for general lighting in the USA (including indoor & outdoor accent and functional lighting for residential, commercial and government areas) reached $1.22bn in 2014 and will grow strongly at average annual growth rate of 22.4% to $3.36bn in 2019, according to a market forecast and analysis report by ElectroniCast Consultants.
The consumption value is forecast to increase with strongly rising quantity growth slightly offset by declining average prices.
The market study breaks out the forecast by eight major lamp types: parabolic aluminized reflector (PAR), general service (A-Type), decorative, multi-faceted reflector (MR)-compatible, tube and strips/tape, street-lights, high-bay, and other/ miscellaneous LED lighting. Some lamp categories, in turn, have multiple sub-categories, determined by physical size and Watt equivalents of the lamp.
ElectroniCast quantifies the LED tape by the meter price/quantity, and over 15 million meters are expected for installation in 2015 in the USA. LED strips have LEDs on a flexible printed-circuit board, and the super thin profile and narrow width make them suitable for a multitude of purposes where fluorescent or halogen lights would be too bulky and consume too much power.
Several cities in the USA have already installed LED street-lights. "The installed value of LED-based lamps used in street lighting in the United Sates is forecast at $728m in 2019," says Stephen Montgomery, principal analyst - LED Practice at ElectroniCast. "The Government sector leads in terms of consumption value in the LED-based street-lamp product category. In 2014, the Government sector held 80% of the total LED streetlight lamp market in the USA," he notes.
