The overall lighting products revenue in the US through retailers is expected to grow at a CAGR of 2.9% from 2011 to 2016 and will reach a value of USD 6,356 million in 2016 from USD 5,505 million in 2011.
Albany, NY -- (SBWIRE) -- 08/19/2016 -- The overall lighting products revenue in the US through retailers is expected to grow at a CAGR of 2.9% from 2011 to 2016 and will reach a value of USD 6,356 million in 2016 from USD 5,505 million in 2011. Floor lamps will be the largest contributor towards the retailers' lighting products revenue in 2016 with about 20.6% share. The ceiling fan segment will be the second largest segment with about 20.1% revenue share in 2016.
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The major driving force behind the growth of retail lighting products market is the increasing focus on contract-based sales by a large number of retailers in the non-residential segment. Non-residential construction accounts for the largest amount of lighting products consumption in the U.S. and is one of the most promising segments for the growth of retail lighting product sales in the country. Moreover, the growing disposable income of individual house owners has leveraged the market as they are continuously improving their home design and lighting style. In addition, the shorter life of such products also allows for faster replacement and higher demand for accessories.
The slowing down of residential construction is one of the major growth barriers of retail sales of lighting products in the U.S. Outdoor lighting segment has seen slower growth up till now; however, the increasing consumer preference for outdoor decorations will drive the future growth of the market. Moreover, the retailers' act as liaison between manufacturers and commercial customers; this will also drive the future value growth of the market.
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Total sales of The Home Depot Inc. products and services generated revenue of USD 70,395 million in 2011 as compared to USD 67,997 million in 2010. The gross profit in 2011 increased to USD 24,260 million as compared to 23,331 million in 2010.
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