LED Secondary Optic Market Outlook - 2030
LED secondary optics are those optics that are included in the LED package and not like Fresnel lenses, reflector cavities, and the pillow lenses that are not included in the LED package. LED secondary optic is used for the purpose of creating preferred appearance and the light beam pattern of the LED lamp. The demand for LED secondary optic is driven by higher adoption of smart and wireless LED in residential and commercial sectors.
Some of the major factors that have compelled the users to shift from ancient lightning system, such as incandescent bulbs and CFL bulbs, to LED lightning are that LED lightning consumes less electrical energy, cost effective, and highly efficient. LED secondary optics are being used in diverse applications such as street lightning, indoor lightning, commercial lightning, architectural lightning, automotive lightning, and others. Ledlink Optics and Carclo Optics are the major players in the market.
The global LED secondary optic market is segmented on the basis of product type, application, and region. Based on product type, the market is divided into reflector, LED secondary lens and others. In terms of application, the market is categorized into street lighting, commercial lighting, architectural lighting, indoor lighting, automotive lighting, 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 LED secondary optic industry include Ledlink Optics, Carclo Optics, Ledil Oy, Fraen Corporation, Gaggione S.A.S, Bicom Optics, Darkoo Optics, Aether Systems Inc, B&M Optics Co. Ltd, Auer Lighting, ShenZhen Likeda Optical, HENGLI Optical, Brightlx Limited, Kunrui Optical, FORTECH, Chun Kuang Optics, and Wuxi Kinglux Glass Lens321. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global LED secondary optic market.
COVID-19 Impact Analysis
The world is experiencing a massive health emergency due to COVID-19 that has impacted almost all industries. The COVID-19 pandemic has forced all the governing bodies across the world to impose strict lockdown and restrict the travel for controlling the COVID-19 outbreak which has negatively affected the growth rate of business which in turn affected the global LED secondary optic market share.
The COVID-19 pandemic has adversely affected the global supply chain management systems and also has shut down many businesses due to the strict lockdowns and travel restrictions. The COVID-19 pandemic has negatively affected the market of LED secondary optic. The manufacturing plants of the LED secondary optics were forced to work with minimal workforce due to lockdowns and strict social distancing norms. This has adversely affected the growth of the LED secondary optic industry.
Due to the COVID-19 pandemic, the offices were closed and employees were compelled to work from home. As offices and industries were closed, the use of LEDs in the industrial sector declined. As a result, the demand for LED secondary optic market also decreased.
Top Impacting Factors
The major properties of the LED secondary optics that will help in increasing the demand in LED secondary optic market for high luminous efficiency, smaller size, low heat radiation, and longer life. As LED lightning consumes less energy, it is cost-effective and efficient. Therefore, the users are shifting from the use of incandescent or CFL bulb lightning to LED lightning system.
This has led to the drive-in demand for LED secondary optics in the market. In the commercial and residential sector, the demand for wireless technologies will tend to drive the demand for market. In wireless technology, LEDs are monitored remotely with the help of mobiles phones or laptops.
Some of the restraining factors that will hinder the LED secondary optic market are the continuous decline in LED price, multi shadow phenomenon during LED lightning, and scattered surrounding light toward the edges of surfaces.
Extensive Use of LED Lightning System
In recent years, consumers are shifting from the use of CFL lightning system to LED lightning system. Additionally, governing agencies are promoting the use of LED lightning system by providing subsidies in the purchase of LED lights. The major reason behind this is that LED light consumes less electrical energy, highly luminous, generates less heat, and durable. All these factors have contributed to the growth of the LED secondary optic market.
Advancement in Technology of the LED Lightning System
With the advancement in technology, manufacturers can now integrate the LED lightning system with smart devices, such as mobile phones, laptops or any controlling devices, that will help in switching LED, monitoring the on/off, adjusting the intensity of light, and many others. This has resulted in increased demand and is expected to create LED secondary optic market opportunities.
Key Benefits of the Report
- This study presents the analytical depiction of the LED secondary optic market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the LED secondary optic market trends.
- The current market is quantitatively analyzed to highlight the LED secondary optic market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed LED secondary optic market analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the LED Secondary Optic Market Research Report
- Which are the leading players active in the LED secondary optic market size?
- What are the detailed impacts of COVID-19 on the market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
LED Secondary Optic Market Report Highlights
By Product Type
Key Market Players
B&M Optics Co. Ltd, Gaggione S.A.S, Bicom Optics, Carclo Optics, Darkoo Optics, Fraen Corporation, Ledlink Optics, Auer Lighting, Ledil Oy, Aether Systems Inc