North America LED Packaging Market Size (2024 - 2029)

The North America LED Packaging Market is experiencing growth driven by the increasing demand for energy-efficient lighting systems and the declining prices of LED products. The market's expansion is further supported by the versatility of LEDs, which offer advantages over conventional light sources in terms of color variability and brightness. Despite challenges posed by supply chain disruptions during the COVID-19 pandemic, the market is expected to continue its upward trajectory, influenced by the growing adoption of intelligent lighting systems and stringent government regulations promoting LED technology.

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Market Size of North America LED Packaging Industry

North America LED Packaging Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.28 %
Market Concentration Medium

Major Players

North America LED Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America LED Packaging Market Analysis

North America LED Packaging Market is expected to register a CAGR of 7.28% during the forecast period (2021 - 2026). In the past few years, LEDs have attracted tremendous attention for their performances of increased luminous efficiency and improved color rendering for solid-state lighting applications, such as street illumination, display backlighting, and automotive lighting. This has led to the increased awareness and importance of LED packaging, making it possible to simultaneously achieve high luminous efficiency, controllable light patterns, and high color uniformity.

  • The growing popularity of LEDs would also contribute to the introduction of intelligent lighting (connected lighting) systems in industries. As, the versatility of the LEDs, the powered devices are more likely to benefit from the use of LEDs than conventional light sources in terms of color variability and brightness.
  • Further, the growing demand for energy-efficient lighting systems, declining prices of LED products, and stringent government regulations are some of the major factors driving the adoption of LED lighting in North America and is also expected to drive the LED packaging market in the forecast period. For instance, according to the US Department of Energy, the price of cool white LED lamps in the United States was USD 0.88 per Kilolumen and is forecasted to drop to USD 0.3 Kilolumen by 2035.
  • Additionally, Since the past decade, the use of LEDs for residential and commercial lighting has increased exponentially, with a wide range of features that incandescent and fluorescent lighting systems are unable to deliver.
  • Since the outbreak of COVID-19, various businesses have been facing challenges pertaining to the supply chain. The LED industry is no exception; as a prominent share of the raw materials for the production of LEDs and Drivers originated from Asian countries, the industry was significantly influenced during the months of March and April as the region was under severe clutches of the pandemic. Further, the pandemic led to a decline in demand for display panels from the automotive and consumer electronics industries. Consumers have reduced their spending on expensive products, such as high-end smartphones and OLED TVs, which has negatively impacted the market.
  • Owing to the supply chain issues, the prices of LEDs are expected to go up for a short period of time and may last till mid-2021. According to the industry body ELCOMA, prices of LED bulbs and lights may see an increase of up to 10% from March due to supply chain shortages.

North America LED Packaging Industry Segmentation

North America LED Packaging Market is segmented by Type (Chip-on-board(COB), Surface-mount Device (SMD), Chip Scale Package (CSP)), End-User Vertical (Residential, Commercial), and Country.

LED packaging determines the ease of use, product quality and protects the LED components. The scope of the study is limited to hardware product types and their wide area of end-user applications.

Type
Chip-on-board (COB)
Surface-mount Device (SMD)
Chip Scale Package (CSP)
End-User Vertical
Residential
Commercial
Other End-User Verticals
Geography
North America
United States
Canada
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North America LED Packaging Market Size Summary

The North America LED packaging market is experiencing significant growth, driven by the increasing adoption of LED technology across various applications such as street lighting, display backlighting, and automotive lighting. The market is characterized by the growing demand for energy-efficient lighting solutions, which are further propelled by declining LED product prices and stringent government regulations. The versatility of LEDs, offering benefits like color variability and brightness, is facilitating the introduction of intelligent lighting systems in industries. Despite challenges posed by supply chain disruptions during the COVID-19 pandemic, which temporarily affected LED prices and demand in sectors like automotive and consumer electronics, the market is poised for recovery and expansion.

The market landscape is moderately competitive, with several major players dominating the scene. These companies are actively engaging in strategic collaborations and acquisitions to enhance their product offerings and expand their market presence. Innovations such as Chip Scale Package (CSP) LEDs are gaining traction due to their cost-saving benefits and improved efficiency. Vendors are continuously introducing new products to maintain a competitive edge, with notable developments in mid-power LEDs and multicolor lighting solutions. The focus on energy-saving products in commercial settings, coupled with the rising penetration of LED lighting, is expected to drive the market further, as seen in initiatives like the YMCA's LED lighting upgrade project.

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North America LED Packaging Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Demand For High-Speed Network

      2. 1.2.2 Increasing Demand for Energy-efficient

    3. 1.3 Market Restraints

      1. 1.3.1 Lack of Awareness and Higher Capital Investment Required

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Chip-on-board (COB)

      2. 2.1.2 Surface-mount Device (SMD)

      3. 2.1.3 Chip Scale Package (CSP)

    2. 2.2 End-User Vertical

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

      3. 2.2.3 Other End-User Verticals

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

North America LED Packaging Market Size FAQs

The North America LED Packaging Market is projected to register a CAGR of 7.28% during the forecast period (2024-2029)

Lumileds Holding B.V., Dow Silicones Corporation, Citizen Electronics Co.,Ltd., Cree, Inc. and Epistar Corporation are the major companies operating in the North America LED Packaging Market.

North America LED Packaging Report Snapshots

North America LED Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)