Lighting Equipment Manufacturers

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 950 lighting equipment manufacturers in the US produce bulbs, lighting elements, lighting fixtures, and related parts and components. Major revenue categories include commercial, industrial, and institutional lighting fixtures; miscellaneous lighting equipment; residential lighting fixtures, and electric lamp bulbs and parts. Firms may also produce devices or systems that monitor and manage light systems.

Evolving Technology And Obsolescence

The development of each new generation of lighting technology creates the risk of product obsolescence and rapidly falling prices.

Competition From Imports

Domestic lighting equipment manufacturers face stiff competition from imported products, which account for a sizable percentage of the US market.

Industry size & Structure

The average lighting equipment manufacturer operates out of a single location, employs 40 workers, and generates $14 million annually.

    • The lighting equipment manufacturing industry consists of about 950 firms that employ 38,000 workers and generate $13.7 billion annually.
    • The industry is concentrated; the top 50 companies account for nearly 68% of industry revenue. The electric lamp bulb and part manufacturing sector is highly concentrated; the top 20 companies account for 93% of sector revenue.
    • The commercial, industrial, and institutional lighting manufacturing sector accounts for 43% of companies and 41% of industry revenue. The residential electric lighting fixture manufacturing sector accounts for 25% of companies and 16% of revenue. The miscellaneous lighting equipment manufacturing sector accounts for 26% of companies and 34% of industry revenue. The electric lamp bulb and part manufacturing sector accounts for 6% of companies and 9% of industry revenue.
    • Large companies and divisions of companies with lighting equipment operations include Acuity Brands, GE Lighting (Savant), Eaton, OSRAM Sylvania, and Signify.
                                      Industry Forecast
                                      Lighting Equipment Manufacturers Industry Growth
                                      Source: Vertical IQ and Inforum

                                      Recent Developments

                                      Jun 3, 2024 - Lighting Equipment Shipments, Orders Rise
                                      • The value of shipments in the lighting equipment manufacturing industry increased 13.8% in March 2024 compared to the prior month. Lighting equipment shipments were up 6.7% over March 2023 levels. On a year-to-date basis, the value of lighting equipment shipments grew 8.5% over the first three months of 2023. The value of new orders in the lighting equipment manufacturing industry was up 22.8% in March 2024 over February and increased 7.9% over March 2023. In the first three months of 2024, new orders for lighting equipment were 10.4% higher than the same period in 2023.
                                      • A recent downturn in Home Depot’s sales could signal that a decade-long surge in home improvement spending is softening, according to The Wall Street Journal. In May, Home Depot reported first-quarter revenue of $37.26 billion, down 4.2% from the same period a year earlier. The home improvement giant also revised its full-year guidance downward to a sales decline between 2% and 5% from a February estimate of flat 2024 growth. Some industry observers suggest homeowners may have completed many of their home projects during the pandemic. Consumers may also be pulling back on their spending amid growing economic uncertainty and high interest rates and inflation.
                                      • The recent What Home Buyers Really Want Study by the National Association of Home Builders highlights home features that are most attractive to prospective home buyers. Study participants were given a list of more than 200 home features and were asked to rate each as essential, desirable, indifferent, or do not want. With 82% of respondents rating it essential or desirable, exterior lighting was the fourth most essential home feature after laundry rooms (86%), patios (86%), and Energy Star windows.
                                      • New single-family home sales decreased 4.7% month-over-month and declined 7.7% year-over-year in April 2024, according to the US Department of Commerce. April’s new home sales came in lower than expected at 634,000; a group of economists polled by Reuters expected a total of 679,000 single-family sales. High interest rates and home prices have led to a weakening of the US housing market. The median home price in May was $433,500, down 1.4% from April but up 3.9% compared to April 2023.
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