US Lighting Fixtures Market
Demand to rise more than 3% annually through 2012
Demand for lighting fixtures in the US is forecast to grow in excess of three percent per annum through 2012 to $21.6 billion. While that pace is similar to the pace achieved during the 2002-2007 period, growth in that period was mostly the result of price increases, whereas growth through 2012 will be based on unit gains. A stronger outlook for construction markets will drive growth, especially the increased construction of housing and transportation infrastructure. Demand from the manufacturing market will also improve through 2012, as domestic production of motor vehicles rebounds. Across all markets, demand will increase fastest for advanced products such as high intensity discharge (HID) fixtures and light emitting diodes (LEDs), which are typically more energy efficient than traditional incandescent lighting systems.
Residential markets hold strong growth prospects
Residential lighting fixture demand is forecast to increase markedly through 2012, growing three percent annually in real terms off of a depressed 2007 base. Lighting fixture demand benefited from strong new housing construction after 2001. But housing demand peaked late in 2005, and housing completions dropped sharply in 2007 amid problems in mortgage markets, reducing demand for residential lighting fixtures. As construction of new housing units recovers through 2012, demand for lighting fixtures will return to strong growth. OEM demand in the vehicular market is projected to return to above average growth through 2012. Underlying this trend is the production of domestic motor vehicles which, after declining in the years leading up to 2007, is projected to once again experience growth. This market will also benefit from the more widespread use of technologically advanced lighting fixtures, including “smart” headlamps and those that use HID and LED light sources.
Energy efficient fixtures to fare well
Product types expected to rise the fastest through 2012 include technologically advanced products that offer increased energy efficiency. Spurred by elevated energy costs and growing environmental concerns, businesses and households will increasingly demand greater energy efficiency from their lighting systems. Consequently, demand for nonportable fixtures using more efficient light sources (e.g., fluorescent, halogen and HID lamps) will outpace demand for conventional incandescent fixtures.
Study coverage
It presents historical demand data (1997, 2002, 2007) plus forecasts for 2012 and 2017 by product, market, and region of the US. The study also assesses market environment factors, evaluates market shares and profiles 36 industry players.
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