US LED and high-efficiency lighting market is growing rapidly

According to Freedonia's report, thanks to technological advances and legal support to reduce electricity consumption, the US high-efficiency lighting market will grow at an annual rate of more than 10 in 2017, from $7.1 billion in 2012 to $11.7 billion.
The demand for LEDs for any high-efficiency lighting products is growing rapidly, with growth areas including home and non-home buildings and outdoor lighting markets. Although high initial cost is not good for the promotion of LED products, technological improvements and innovations will reduce costs and ultimately drive market penetration.
Other energy-efficient linear fluorescent lamps are also growing at a faster rate, especially for T5 and T8 lamps.
By 2017, the market for energy efficient lighting products for construction is growing at a strong rate, mainly thanks to higher value and longer life lighting products and higher energy efficiency standards. The demand for home demand comes from replacing inefficient luminaires to reduce electricity bills and labor costs for replacing luminaires. But in the long run, the market will be subject to longer lifespans for LEDs and newer luminaires.

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