The North America Interior Lighting Market would witness market growth of 4.5% CAGR during the forecast period (2023-2030).
Interior lighting's adaptability enables it to be used in various contexts, addressing various needs and design goals. In residential areas, lighting can make living rooms cozy and welcoming, as well as the bathrooms and kitchens functional and well-lit. Through dimmers & control systems, residents can customize the lighting to suit various activities or moods, improving their overall quality of life.
Strategic lighting design has a big impact on commercial settings. Lighting is used in retail spaces to display goods, establish a visual hierarchy, and direct shoppers. Softer lighting in the changing rooms helps to create a relaxing ambiance, while bright, well-lit areas highlight the merchandise. Offices need task lighting to ensure efficiency and prevent eye fatigue; frequently, a combination of artificial and natural light sources is used. Employee focus, productivity, and wellbeing can all be improved by dynamic lighting systems that replicate natural daylight.
The most recent report estimates that LED adoption will result in annual U.S. energy savings of 1.3 quadrillion Btu (quads) in 2018, which is approximately consumer cost savings of $14.7 billion and about 5% of total electrical consumption from buildings in 2018. From 2016 to 2018, LED product installations grew across all applications, doubling to 2.32 billion units, or 30.0% of all general illumination lighting.
The United States is the principal destination for Mexican visitors. In 2021, 10.4 million Mexicans traveled to the United States, comprising 47 percent of all foreign visitors. In turn, the number of hotels and restaurants would increase. This is accelerating the expansion of construction activities in the region. As the number of construction projects in the country rises, so does the demand for indoor fixtures such as lighting, thereby contributing to the expansion of the market.
The US market dominated the North America Interior Lighting Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $23,680.1 million by 2030. The Canada market would register a CAGR of 6.9% during (2023 - 2030). Additionally, The Mexico market is showcasing a CAGR of 6% during (2023 - 2030).
Based on Lighting Effect, the market is segmented into Downlighting, Perimeter Lighting, Wall Grazing & Wall Lighting, Uplighting, and Spotlighting & Others. Based on Product, the market is segmented into Ceiling Lights, Chandeliers, Pendant Lights, Recessed & Surface-Mounted Lights, Wall Lights, Decorative Lamps, Clamp Lights, Track Lights, Spots & Spotlights, and Others. Based on Type, the market is segmented into Ambient Lighting, Accent Lighting, Task Lighting, General Lighting, and Mood Lighting. Based on End Use, the market is segmented into Commercial, Residential, and Industrial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Interior Lighting Market is Projected to reach USD 115.1 Billion by 2030, at a CAGR of 5.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lena Lighting S.A., Karice Lighting, Jaquar Group, WLS Lighting Systems, Inc, Wipro Lighting (Wipro Enterprises Private Limited), Trilux Gmbh, EST Lights, ERCO GmbH, Russell Lighting, and Kichler Lighting LLC (Masco Corporation).
By Lighting Effect
By Product
By Type
By End Use
By Country
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