The North America Energy Efficient Warehouse Lighting System Market is expected to witness market growth of 11.5% CAGR during the forecast period (2024-2031).
The US market dominated the North America Energy Efficient Warehouse Lighting System Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $6.56 billion by 2031. The Canada market is experiencing a CAGR of 13.9% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 12.9% during 2024-2031.
Rising energy costs are a primary motivator for warehouse operators to seek efficient lighting systems. Energy expenses represent a significant portion of the total operational costs in warehouses, especially those that operate on a 24/7 basis. For facilities managing hundreds of thousands of square feet, the economic benefits of energy efficiency are substantial and justify the investment in upgrading to modern lighting solutions.
Additionally, environmental concerns are also shaping the direction of the warehouse lighting industry. With climate change and environmental sustainability gaining attention, companies across all industries set ambitious goals to reduce their environmental impact. Often operating in large, high-energy-consuming facilities, warehouses are under pressure to adopt green practices. Energy-efficient lighting systems can drastically reduce greenhouse gas emissions and energy waste, making them essential to any sustainability initiative.
Across North America, the landscape for energy-efficient warehouse lighting is shaped by regulatory support, environmental initiatives, and rising energy costs, collectively creating a favorable market environment. The demand for energy-efficient warehouse lighting systems in the United States is rapidly increasing, spurred by regulatory initiatives, corporate sustainability goals, and technological advancements. The U.S. government’s focus on reducing carbon emissions has led to energy efficiency mandates across various states, and incentives such as tax credits encourage businesses to adopt LED and smart lighting technologies in warehouses.
The US market dominated the North America Energy Efficient Warehouse Lighting System Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $6.56 billion by 2031. The Canada market is experiencing a CAGR of 13.9% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 12.9% during 2024-2031.
Rising energy costs are a primary motivator for warehouse operators to seek efficient lighting systems. Energy expenses represent a significant portion of the total operational costs in warehouses, especially those that operate on a 24/7 basis. For facilities managing hundreds of thousands of square feet, the economic benefits of energy efficiency are substantial and justify the investment in upgrading to modern lighting solutions.
Additionally, environmental concerns are also shaping the direction of the warehouse lighting industry. With climate change and environmental sustainability gaining attention, companies across all industries set ambitious goals to reduce their environmental impact. Often operating in large, high-energy-consuming facilities, warehouses are under pressure to adopt green practices. Energy-efficient lighting systems can drastically reduce greenhouse gas emissions and energy waste, making them essential to any sustainability initiative.
Across North America, the landscape for energy-efficient warehouse lighting is shaped by regulatory support, environmental initiatives, and rising energy costs, collectively creating a favorable market environment. The demand for energy-efficient warehouse lighting systems in the United States is rapidly increasing, spurred by regulatory initiatives, corporate sustainability goals, and technological advancements. The U.S. government’s focus on reducing carbon emissions has led to energy efficiency mandates across various states, and incentives such as tax credits encourage businesses to adopt LED and smart lighting technologies in warehouses.
List of Key Companies Profiled
- ams-OSRAM AG
- Nichia Corporation
- Acuity Brands, Inc.
- Signify N.V.
- Koninklijke Philips N.V.
- Schneider Electric SE
- Legrand S.A. (Legrand Group)
- Honeywell International, Inc.
- Cree Lighting (Ideal Industries, Inc.)
- Eaton Corporation plc
Market Report Segmentation
By Application
- Industrial
- Commercial
- Other Application
By Type
- Light Emitting Diodes (LED)
- Linear Fluorescent Lamps (LFL)
- High-Intensity Discharge Lamps (HID)
- Other Type
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Energy Efficient Warehouse Lighting System Market by Application
Chapter 6. North America Energy Efficient Warehouse Lighting System Market by Type
Chapter 7. North America Energy Efficient Warehouse Lighting System Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- ams-OSRAM AG
- Nichia Corporation
- Acuity Brands, Inc.
- Signify N.V.
- Koninklijke Philips N.V.
- Schneider Electric SE
- Legrand S.A. (Legrand Group)
- Honeywell International, Inc.
- Cree Lighting (Ideal Industries, Inc.)
- Eaton Corporation plc
Methodology
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