In recent years, the U.S. lighting products and ceiling fan market has witnessed a good growth rate due to a continuous supply of reliable energy. Furthermore, as manufacturers are trying to incorporate cost-effective solutions such as using solar power to light up homes, this market is being pushed at an accelerated growth rate. The improving customer service and introduction of cheaper and affordable products are also propelling the U.S. lighting products and ceiling fan market.
The products available in the U.S. lighting products and ceiling fan market are table lamps, chandeliers, floor lamps, vanity lights, wall sconce, flush mounts, outdoor lanterns, and pendants. Some of the major retailers in the U.S. lighting products market are The Home Depot, Lowes, Target, Wal-Mart, Bed Bath & Beyond, Sam’s Club, Costco, and Menards.
U.S. Lighting Products and Ceiling Fan Market to Reach US$6.3 bn in 2016
Statistics published by Transparency Market Research show that the U.S. lighting products and ceiling fan market is expected to exhibit a CAGR of 2.9% from 2011 to 2016. During the same forecast period, the market is estimated to reach a valuation of US$6.3 bn in 2016 from US$5.5 bn in 2011. The biggest contributor to the rising revenues of the U.S. lighting products and ceiling fan market will be the floor lamps segment, with a share of 20.6% in the market. Furthermore, the ceiling fan segment will hold the second largest share of 20.1% in the U.S. lighting products and ceiling fan market in 2016.
Growth of Retail Sector Drives U.S. Lighting Products and Ceiling Fan Market
The biggest factor driving the U.S. lighting products and ceiling fan market is the growing retail lighting products market, which is focusing on sales as per contracts to the non-residential segment. Analysts report that the non-residential construction sector is the largest consumer of lighting products in the U.S. and is likely to retain its dominance in the forecast period. Additionally, the increasing disposable incomes of homeowners are also expected to drive the expenditure on aesthetic and energy-efficient lighting solutions. The shorter lifespan of these products will also boost the sales of products in the U.S. lighting products and ceiling fan market.
Outdoor Lighting to Pick Up Pace as Residential Construction Sector Suffers
In recent times, it has been noted that the slowdown in the residential construction sector of the country has hampered the sale of lighting products in the U.S. Additionally, the outdoor lighting segment has also taken a hit. However, the rising per capita income of the consumers is expected to drive the outdoor lighting products segment in the coming years. This segment will also benefit from the ongoing collaborations between commercial customers and manufacturers.
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Some of the common distribution or retail channels for lighting products and ceiling fans in the U.S. are home improvement stores, small retailers, electric departmental stores, specialty stores, and discount stores.