According to market forecasts by The Freedonia Group, "Demand for lighting fixtures in the US is forecast to grow five percent per annum to $22 billion in 2014." Overseas manufacturers, particularly ones in Mexico and China are expected to supply the majority of additional demand since growth of U.S. lighting fixture shipments is projected to lag demand over the forecast period. China and Mexico combined supplied over a quarter of U.S. lighting fixture demand in 2009.
Key points in this report:
• Motor vehicle market is forecasted to be fastest growing source of lighting fixtures demand between 2009 and 2014.
• Residential market for lighting fixtures is projected to be second fastest growing demand source through 2014.
• Development and commercialization of light-emitting diode (LED) lighting is having strong impact on lighting fixture industry.
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