U.S. residential lighting fixtures market is projected to reach approximately USD 4.04 billion by 2030

The U.S. residential lighting fixtures market is projected to reach approximately USD 4.04 billion by 2030, with an expected compound annual growth rate (CAGR) of 5.2% from 2023 to 2030.

LED bulbs have gained significant favor among consumers, notably representing a substantial portion of retail light bulb sales in Connecticut and other New England states in 2019.

In Connecticut, LEDs comprised nearly 80% of reflector bulb sales in 2019 and accounted for a significant share of A-line, globe, and candelabra bulb sales. This trend was spurred by long-term efforts by market players involving incentives, marketing, and education.

The LED & OLED segment led the market in 2022 and is expected to maintain its dominance. A transition to LED bulbs is anticipated to result in substantial savings, with the U.S. Department of Energy estimating USD 265 billion in savings over two decades, along with a reduction in greenhouse emissions. LEDs offer advantages such as smaller size, reliability, and energy efficiency. Adoption rates vary based on household income and ownership status.

The pendants & chandeliers segment is poised for rapid growth during the forecast period. Pendants, often used in spaces like kitchens or dining rooms, are preferred for their practicality. Chandeliers, known for their elegant designs, are suited for areas with high ceilings, such as hallways and lobbies.