Market Size of High Power LED Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
High Power LED Market Analysis
The high power led market is expected to register a CAGR of over 4% over the forecast period (2021 - 2026). In the past decade, the LED industry has witnessed massive investments from several companies which have led to the emergence of innovative LED technologies.
- Growing adoption of energy-efficient products, along with rising government focus toward energy-saving, is fueling the demand for energy-efficient lighting sources, such as high power LEDs, which is boosting the growth of the high power LED market. The use of high-power LEDs enhance energy efficiency and also provide high brightness.
- Additionally, the government of developed economies such as UK and US and emerging economies like India and China, are engaging in the promotion of LED lighting products by providing the tax incentives and subsidies on these products.
- Moreover, High-power LEDs are advantageous in general lighting and automotive applications as they work efficiently for long operating hours at low maintenance costs. Owing to these advantages, local authorities of countries, such as the USA, India, China, and Australia, have commenced projects to replace their conventional lighting lamps used in outdoor lighting with LEDs.
- For Instance, According to the US Department of Energy, Los Angeles had completed a citywide street lighting replacement program and installed over 215,000 LED streetlights (saving about USD 9 million in annual energy costs). Additionally, Barcelona (Spain) deployed more than 3,000 smart streetlights based on the LED technology, which gather information about pollution, humidity, noise, and the overall environment.
- The small size, long-life & continuous usage, less power consumption & low voltage, and increasing high brightness application are the other factors driving the growth of the High Power LED market.
High Power LED Industry Segmentation
High power LEDs are increasingly used for lighting applications. High power LEDs are one type of LED which has higher power and brightness and are more costly comparing to the small power LED. High power LEDs currently are widely applied in automobile lights, general lighting, lighting fixtures, etc.
| By Application | |
| Automotive Lighting | |
| General Lighting | |
| Backlighting | |
| Other Applications |
| Geography | ||||||
| ||||||
| ||||||
| ||||||
|
High Power LED Market Size Summary
The high power LED market is experiencing significant growth, driven by the increasing demand for energy-efficient lighting solutions and the supportive policies from governments worldwide. The shift towards high power LEDs is largely attributed to their ability to enhance energy efficiency and provide high brightness, making them ideal for general lighting and automotive applications. Governments in both developed and emerging economies, such as the United States, India, China, and Australia, are promoting the adoption of LED lighting through tax incentives and subsidies. This trend is further supported by projects aimed at replacing conventional lighting with LEDs, which are favored for their long lifespan, low maintenance costs, and reduced power consumption. The automotive industry is also witnessing a revolution with the integration of high power LEDs, which offer superior brightness and smaller sizes compared to traditional lamps, enhancing safety and efficiency in vehicle lighting systems.
The Asia-Pacific region is anticipated to lead the market growth, with countries like India and China spearheading the adoption of high power LEDs in general lighting applications. Initiatives such as India's Street Light National Program and China's smart city projects are pivotal in driving this demand. Additionally, Japan's focus on incorporating LED lighting in infrastructure projects for the 2020 Olympics underscores the region's commitment to advancing LED technology. The competitive landscape of the high power LED market is characterized by numerous global and regional players who are actively engaging in new product development to enhance their offerings and expand their market presence. Innovations such as Lumileds' LUXEON 5050 Square LES and LG Innotek's Nexlide-HD highlight the ongoing advancements in LED technology, catering to both directional lighting and automotive applications.
High Power LED Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Growing Awareness Regarding Implementation of Energy-Efficient Systems
-
1.2.2 Increasing Applications of High Power LED's
-
-
1.3 Market Restraints
-
1.3.1 High Initial Cost
-
-
1.4 Value Chain Analysis
-
1.5 Industry Attractiveness - Porter's Five Force Analysis
-
1.5.1 Threat of New Entrants
-
1.5.2 Bargaining Power of Buyers/Consumers
-
1.5.3 Bargaining Power of Suppliers
-
1.5.4 Threat of Substitute Products
-
1.5.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Application
-
2.1.1 Automotive Lighting
-
2.1.2 General Lighting
-
2.1.3 Backlighting
-
2.1.4 Other Applications
-
-
2.2 Geography
-
2.2.1 North America
-
2.2.1.1 United States
-
2.2.1.2 Canada
-
-
2.2.2 Europe
-
2.2.2.1 United Kingdom
-
2.2.2.2 Germany
-
2.2.2.3 France
-
2.2.2.4 Rest of Europe
-
-
2.2.3 Asia-Pacific
-
2.2.3.1 China
-
2.2.3.2 Japan
-
2.2.3.3 South Korea
-
2.2.3.4 Rest of Asia-Pacific
-
-
2.2.4 Rest of the World
-
2.2.4.1 Latin America
-
2.2.4.2 Middle-East & Africa
-
-
-
High Power LED Market Size FAQs
What is the current High Power LED Market size?
The High Power LED Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in High Power LED Market?
Koninklijke Philips N.V., Lumileds Holding B.V., OSRAM Opto Semiconductors GmbH, Cree Inc. and Samsung Electronics Co. Ltd. are the major companies operating in the High Power LED Market.
