LED Light Engine Market Research, 2032
The global LED light engine market was valued at $35.6 billion in 2022, and is projected to reach $115.8 billion by 2032, growing at a CAGR of 12.6% from 2023 to 2032.
The LED light engine (LLE) is an integrated assembly that is composed of one or more LED arrays (modules) or light emitting diodes (LEDs) as well as an LED driver along with the other optical, mechanical, thermal, and electrical components. It is an innovative lighting technology that offers increased efficiency and longevity. A luminaire's fundamental component is its LED light engine. These light engines can be used to replace standard lamps. In comparison with the traditional LEDs, the LED light engine does not require an AC/DC transformer because it is directly connected to alternating current or AC power.
The main purpose of an LED light engine is to generate and deliver high-quality light output. It typically consists of an array of individual LEDs, which can be of different colors or just a single color, depending on the desired lighting application. The LEDs are mounted on a circuit board and often arranged in a pattern to achieve specific lighting effects or uniform illumination. LED light engines incorporate driver circuitry to regulate the electrical current supplied to the LEDs. This helps maintain a consistent and steady light output while maximizing energy efficiency. The driver circuitry also ensures compatibility with various power sources and allows for dimming capabilities if required.
The main purpose of an LED light engine is to generate and deliver high-quality light output. It typically consists of an array of individual LEDs, which can be of different colors or just a single color, depending on the desired lighting application. The LEDs are mounted on a circuit board and often arranged in a pattern to achieve specific lighting effects or uniform illumination. LED light engines incorporate driver circuitry to regulate the electrical current supplied to the LEDs. This helps maintain a consistent and steady light output while maximizing energy efficiency. The driver circuitry also ensures compatibility with various power sources and allows for dimming capabilities if required.
Thermal management is crucial for LED light engines, as LEDs are sensitive to heat and can experience performance degradation or even failure if not properly cooled. Heat sinks, heat pipes, or other cooling mechanisms are integrated into the light engine's design to dissipate excess heat generated by the LEDs, thereby ensuring their longevity and sustained performance. Optical components, such as lenses or reflectors, are often included in LED light engines to control the direction, spread, and intensity of the emitted light. These components help shape the light output according to specific lighting requirements, such as beam angles, color mixing, or diffusion.
The LED light engine market is segmented into Application, End User, Product Type, Installation Type and Sales Channel.
On the basis of product type, the market is segmented into lamp and luminaire. In 2022, the luminaire segment dominated the market, in terms of revenue, and it is expected to acquire major market share till 2032.
On the basis of installation type, the market is segmented into new installation and retrofit installation. The new installation segment acquired the largest share in 2022 and retrofit installation is expected to grow at a significant CAGR from 2023 to 2032.
On the basis of sales channel, the market is segmented into direct sales and indirect sales. In 2022, the direct sales segment dominated the market, in terms of revenue, and it is expected to acquire major market share till 2032.
On the basis of application, the market is segmented into indoor and outdoor. In 2022, the indoor segment dominated the market, in terms of revenue, and it is expected to acquire major market share till 2032.
On the basis of end user, the market is segmented into residential, commercial and industrial. In 2022, the commercial segment dominated the market, in terms of revenue, and it is expected to acquire major market share till 2032.
Region wise, the LED light engine market trends are analysed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competitive Analysis
Competitive analysis and profiles of the major global LED light engine market players that have been provided in the report include Acuity Brands, Inc., General Electric Company, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and Zumtobel Lighting GmbH. The key strategies adopted by the major players of the LED light engine market are acquisition, and product launch.
Country Analysis
Country-wise, the U.S. acquired a prime share in the LED light engine market in the North American region and Mexico is expected to grow at a significant CAGR during the forecast period of 2023-2032.
In Europe, Germany dominated the LED light engine market share, in terms of revenue, in 2022 and is expected to follow the same trend during the forecast period. However, the UK is expected to emerge as the fastest-growing country in Europe's LED light engine market with a CAGR of 12.9%.
In Asia-Pacific, China, Japan, and India are expected to emerge as a significant market for the LED light engine market industry, owing to the demand for LED light engines in a variety of applications across the region has been driven by rising disposable income, expanding infrastructure development, and a growing awareness of energy efficiency.
By LAMEA region, the Latin America garner significant market share in 2022. The LAMEA LED light engine market has been witnessing improvement, owing to the fact that commercial buildings, industrial facilities, and transportation infrastructure are all undergoing rapid development in the LAMEA region's infrastructure. . Moreover, the Africa region is expected to grow at a high CAGR of 16.0% from 2023 to 2032.
Top Impacting Factors
The prominent factors that drive the LED light engine market growth include rapid urbanization coupled with infrastructural development; reduction in LED prices; and emergence of initiatives governing bodies towards the adoption of the energy-efficient lighting system. Moreover, huge growth of LED technology over conventional lighting technology as well as rising penetration of LEDs as light sources in general lighting is projected to drive growth of the market during forecast period. On the other hand, the integration of wireless technology in LED lighting systems and emergence of innovative LED light engine products may create lucrative growth opportunities for the LED Light Engine Market Size during the forecast period.
Historical Data & Information
The global LED Light Engine Market Demand is highly competitive, owing to the strong presence of existing vendors. Vendors of the power over ethernet lighting market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
Acuity Brands, Inc., General Electric Company, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and Zumtobel Lighting GmbH are the top companies holding a prime share in the LED Light Engine Industry. Top market players have adopted various strategies, such as acquisition and product launch to expand their foothold in the LED Light Engine Market Opportunity.
- In January 2023, GE Lighting launched new entertainment additions to its Cync Smart Home family at CES 2023. The Cync Smart Home family is a range of smart home products that can be controlLED through a mobile app or by voice commands.
- In June 2023, Acuity Brands, Inc. launched FieldSET Field-Programmable LED Drivers from eldoLED, providing distributors and contractors a new way to service existing LED fixtures. FieldSET LED Drivers are a selection of unique and versatile replacement drivers that can be easily programmed in the field to replace end-of-life driver components in a facility's LED luminaires. The FieldSET suite of products offers a simple portfolio of nine driver SKUs that service a variety of fixture types such as indoor linear or compact designs and industrial and outdoor fixtures.
- In May 2021, Lutron Electronics expanded its lighting portfolio, by launching coordinated luminaires and lamps in the Ketra, subsidiary of Lutron, and Ivalo.
- In December 2020, Glamox acquired ES-SYSTEM, the leading supplier of professional lighting solutions in the Polish market, to further strengthen its range of products and to expand its position in Central Europe.
- In September 2020, Osram announced the expansion of its automotive LED portfolio, by launching a new generation of 1 to 4-chip versions in the Oslon Compact PL product family.
Key Benefits For Stakeholders
- As per the LED light engine market outlook, this report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the led light engine market analysis from 2022 to 2032 to identify the prevailing led light engine market opportunities.
- The LED Light Engine Market Forecast research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the led light engine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global led light engine market trends, key players, market segments, application areas, and LED Light Engine Market growth strategies.
LED Light Engine Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 115.8 billion |
 Growth Rate | CAGR of 12.6% |
 Forecast period | 2022 - 2032 |
 Report Pages | 479 |
 By Application |
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 By End User |
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 By Product Type |
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 By Installation Type |
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 By Sales Channel |
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 By Region |
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 Key Market Players | Signify Holding, Hubbell Incorporated, ACUITY BRANDS, INC., General Electric Company, Ideal Industries, Inc., OSRAM GmbH, Glamox AS, Samsung Electronics Co., Ltd, Lutron Electronics Co., Inc., Zumtobel Lighting GmbH |
Analyst Review
It is anticipated that the market for LED light engines will continue to grow in the coming years. LED lighting is increasingly taking the place of conventional lighting solutions due to its energy efficiency, longer lifespan, and affordability. LED technology is always changing, which means that lighting quality, efficiency, and performance are getting better.
Although LED technology has come a long way in terms of affordability, it still faces competition from traditional lighting technologies. LED lighting is well-known for its ability to save energy and is friendly to the environment. Products that are sustainable are getting more attention from customers, and regulatory bodies may set higher standards for energy efficiency. LED lighting has gained popularity worldwide, presenting opportunities for expansion into new regions.
The LED light engine market is competitive and comprises several regional and global vendors competing based on factors such as cost of products & services, reliability, efficiency of the product, and support services. In addition, owing to the competition, vendors operating in the market are offering advanced LED light engine solutions to improve the marketing strategies of the enterprises. The key players profiled in the report include LED light engine market players, such as Acuity Brands, Inc., General Electric Company, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and Zumtobel Lighting GmbH.
The global LED light engine market was valued at $35,607.24 million in 2022, and is projected to reach $115,765.19 million by 2032. registering a CAGR of 12.6% from 2023 to 2032.
The leading application of LED Light Engine Market is the outdoor segment.
North America holds the largest market share for the LED Light Engine Market.
The global LED light engine market is estimated to grow at a CAGR of 12.6% from 2023 to 2032.
The companies profiled in the LED light engine market report include Acuity Brands, Inc., General Electric Company, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and Zumtobel Lighting GmbH.
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