Research and Markets unveiled in the new document, US LED Downlight Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 that the market is expected to reach $6.3 billion and grow at a CAGR of 8.32% by the end of the forecast period. The report, broken up by product type, application and region, focuses on key topics like the impact of the pandemic on the market, important players in the industry, price trends and more.
According to the report, LED downlights have become a preferred choice for outdoor applications due to their energy savings and endurance through harsh conditions such as weather events, shocks and vibrations and traffic-related public exposure. Governments in developing nations have also encouraged widespread use of this solution as energy prices increase.
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