High Power LED Market

High Power LED Market Outlook - 2028

High brightness LEDs, also known as HBLEDs or high power LEDs, are being used increasingly for lighting applications. These high power LEDs provide much higher levels of light output than the traditional indicator LEDs. This places new challenges on the technology, although they are able to provide high levels of performance: greater efficiency than other forms of lighting technology and a much longer lifetime. High power LEDs are the type of LEDs with higher brightness index than conventional LEDs due to higher current levels and power dissipation. These LEDs are used in general lighting, mobile phones, signal lighting, and applications requiring high luminosity.

The global high power LED market is segmented on the basis of packaging type, wattage, application and region. Based on packaging type, the market is divided into messa, flip chip, and vertical. On the basis of wattage, the market is divided into 1-2.9W, 3-4.9W, 5-10 W and >10 W. In terms of application, the market is categorized into automotive, back lighting, mobile device, general lighting, signals & signage and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global high power LED industry include Cree Inc., EPISTAR Corporation, LG Innotek, Lumileds Holding B.V., Nichia Corporation, Samsung Electronics Co. Ltd., Seoul Semiconductor Co., Ltd., Siemens AG, Signify Holding, Toyoda Gosei Co., Ltd.. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global high power LED market.

COVID-19 Scenario Analysis

• COVID 19 has affected the growth of the high power led market size because the entire industrial sector is now suffering production losses, supply disruptions and price fluctuations.
• The COVID 19 crisis has impacted many of the standard ways of working due to which there is a shortage of electronic components in High power LED market and the demand supply equation is not working anymore.
• New installations of lights depends on new constructions, but in this pandemic the constructions businesses have slowed down which has affected the high power LED market share.
• The sale of high power LED items has been higher in healthcare sectors, especially hospitals during this pandemic as hospitals are running 24 hours. The healthcare sector has played a huge role in buying LED products in past few years.
• The hardware segment is profoundly affected due to the loss in production owing to shutdowns in China and other South Asian countries, which are the hubs of component manufacturing of the smart lighting market.
• The emergence of COVID-19 has decelerated the market growth; however, due to uplifting lockdowns the market is slowly gaining traction.

Top Impacting Factors

Rise in brightness LED applications is a crucial factor accelerating the market growth. Also, surge in the adoption of energy-efficient lighting solutions, rise in Hb-led light applications, rising large scale replacements of traditional luminaires, continuous falling cost of LED component, increase in extensive adoption of innovative technologies or instance strong intelligent systems, IoT, real-time monitoring of illumination, rise in technological advancement in connected lighting, rising government initiatives towards green construction and high demand from automotive industry are the major factors boosting the growth of high power LED market.

Furthermore, rise in demand for smart lighting system and increase in awareness pertaining to energy efficient systems are the main factors likely to create lucrative growth opportunity to the market in the upcoming years. However, high temperature, thermal problem, and increase in initial cost of the high power LEDs are the factors restraining the high power LED market growth.

New Product Launches to Flourish the Market

The market players from high power LED market are anticipated to lucrative growth opportunities in the future with the rising demand for high power LED in the global market. Recent strategies deployed in LED lighting market are partnerships, acquisitions & mergers, collaborations, and agreements:

March 2021: Signify partnered with National Hockey League. Under this partnership, Signify became the preferred lighting partner for NHL arenas and possibly thousands of rinks in North America. In addition, Signify aims to lead to all sorts of lighting projects that include glare-resistant ice illumination, Internet of Things (IoT) systems, atmosphere, and ultraviolet C-band (UV-C) disinfection.

July 2020: Seoul Semiconductor collaborated with Fiberli. Under this collaboration, Seoul’s SunLike Series natural spectrum LEDs have been adopted for horticulture LED lighting. The SunLike Series natural spectrum LEDs are the world’s first LEDs to emit light, which closely matches the spectrum of natural sunlight

March 2020: Signify acquired Cooper Lighting Solutions from Eaton. This acquisition aimed to strengthen Signify’s market position and improve the position of the company to capture growth in the North American lighting market.

Surge in Usage in Automotive and Industrial Applications

Automotive Lighting Industry is becoming more innovative with the introduction of high power LEDs as these LEDs have the advantage of being much brighter and smaller than the traditional lamps. The surge in demand for high power LED lights in automotive interior and exterior applications, such as fog lights, position lights, headlights, ambient lighting, and dashboard lights is boosting the automotive application. The volume of high-power LEDs used for this application has been growing each year. The shift to high power LEDs brings better lighting to car owners.

LEDs represent an automotive visual revolution, an enhancement in technology which brings increased safe driving factor. LEDs are used widely in both standard and luxury automobiles. Even commercial vehicles have leveraged this automotive lighting technology for the high levels of efficiency it offers. Moreover, as automotive lighting systems become more intelligent, demand for the high efficacy and unsurpassed reliability of the highest grade LED components is expected to grow during the forecast period.

Key Benefits of the Report

• This study presents the analytical depiction of the global high power LED market outlook along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and high power LED market opportunity along with detailed analysis of the market.
• The current high power LED market forecast is quantitatively analyzed to highlight the global high power LED market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global high power LED market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the High Power LED Market Research Report

• What are the leading market players active in the high power LED market trends?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 High Power LED Market Report Highlights