The analysis of US outdoor lighting equipment sales shows a progression from $2.0969 billion in 2013 to $3.1635 billion in 2023. Sales have experienced varying levels of growth with notable peaks in 2014 and 2016 with year-on-year increases of 17.59% and 7.43% respectively. The period experienced occasional dips, particularly in 2020 with a -2.95% year-on-year change, likely impacted by the global pandemic.
In the last two years leading up to 2023, sales increased at a rate of 1.98% in 2022 and 1.91% in 2023. The forecast CAGR over the next five years is predicted to be 1.47%, indicating a steady but modest growth rate, cumulating in a projected $3.4727 billion by 2028.
Future trends to watch for include technological advancements in energy-efficient lighting, smart technology integration, and increased urbanization leading to greater demand for outdoor lighting solutions. Additionally, sustainability and regulatory measures will play a key role in shaping market dynamics.
