Martin Placek
Research expert covering transportation and electronics
LED lighting in the United States - statistics & facts
Light-emitting diodes (LEDs) are gradually taking over the global lighting market. While in 2019, almost half of all light sources in the world were LEDs, it is projected that by 2030, some 87 percent of all light sources will be LEDs. This growing adoption rate is reflected in the size of the global LED market. Sized at about 70 billion U.S. dollars in 2019, the global LED market is expected to grow to almost 100 billion U.S. dollars in 2030.
The main growth drivers for LEDs are efforts to achieve a more sustainable future and falling prices of the LED components. Governments across the globe have started implementing plans to promote environmental-friendly and energy-efficient solutions in many sectors. In the lighting sector, this means phasing out incandescent light bulbs and promoting the purchase of more energy-saving alternatives, such as LEDs.
It is no surprise that in the United States, LEDs already had a considerable penetration rate in the lighting market in 2017, especially in the outdoor sector. Following the global trend, the LED penetration rate is projected to increase over the next decade. In 2030, some 76 percent of all lighting sources installed in the country will be LEDs.
Advantages of LEDs
LEDs are one of the most energy-efficient lighting solutions in the world. High-quality LED lamps use at least 75 percent less energy than incandescent lamps and last 25 times longer. Although a new LED lamp costs more than an incandescent lamp, due to LEDs' energy-efficiency, switching from conventional lightbulbs to LEDs saves money in the long run.Falling prices of LEDs contributing to growing adoption in the United States
Since 2010, the price of LEDs has fallen dramatically, allowing a wider adoption of this lighting source. Although less steeply, the price of LED lamps is projected to continue falling well over the next three decades. While one kilolumen cost some 0.7 U.S. dollars in 2017, it is expected to drop to around 0.3 U.S. dollars in 2050. The price forecasts for warm light LED lamps and cold white light LED lamps are even more optimistic, projecting a drop to 0.3 U.S. dollars per kilolumen in 2035.It is no surprise that in the United States, LEDs already had a considerable penetration rate in the lighting market in 2017, especially in the outdoor sector. Following the global trend, the LED penetration rate is projected to increase over the next decade. In 2030, some 76 percent of all lighting sources installed in the country will be LEDs.
Martin Placek
,
Dec 18, 2023
Martin Placek
Research expert covering transportation and electronics
