Lighting Equipment Manufacturing Industry Profile

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Excerpt from Lighting Equipment Manufacturing Industry Profile

Companies in this industry manufacture electric light bulbs and tubes as well as lighting fixtures, lamp shades, and other components and parts. Major companies include Acuity Brands, Hubbell, and TCP Lighting (all based in the US), as well as OSRAM (Germany), Signify (formerly Philips Lighting, the Netherlands), and Zumtobel Group (Austria).

Global demand for lighting fixtures is forecast to grow at a compound annual rate of about 5% through 2026 and exceed $105 billion, according to PR Newswire. North America and Europe collectively account for about half of the global lighting fixtures market. High growth is expected to come from the Asia/Pacific region; moderate growth is forecast for Africa and the Middle East.

The US lighting equipment manufacturing industry includes about 1,100 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $14 billion.

COMPETITIVE LANDSCAPE

Demand depends primarily on residential, industrial, and commercial construction activity. Profitability depends on efficient operations. Large companies have advantages in purchasing power, manufacturing volume, and distribution efficiencies. Small companies compete by offering specialized products and superior customer service in regional markets. The US industry is concentrated: the largest 50 companies account for about 70% of revenue.

Exports, mainly to Canada and Mexico, account for about 15% of US production. Imported lighting products make up about 55% of the US market. Leading import sources for lighting products are China and Mexico.

 
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