CLEVELAND–Notwithstanding the current downturn in housing construction, U.S. demand for lighting fixtures is expected to grow an average of 3.5 percent yearly through 2012, resulting in a market of $21.6 billion.
The Freedonia Group, a research firm that announced its study this week, attributed the projected growth to construction in housing, highways and streets. “A stronger outlook for the construction markets will drive gains,” a Freedonia statement said, “especially the increased construction of housing and transportation infrastructure.”
Asked how that analysis relates to the current retrenchment of the housing construction business, a representative said the estimate refers to the year 2012, and that Freedonia expects the real estate market to swing up again after the current crisis.
The statement says that the “larger non-residential building market will be supported by an increase in new building construction,” and that building of new homes will recover through 2012.
Demand is expected to accelerate most quickly for high-intensity discharge fixtures and light-emitting diodes, technologies that are more energy-efficient than traditional lighting systems.