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Solid State Lighting Market 2018 Growth Opportunities Top Key Players: General Electric Manufacturing Company (GEMAC), TSMC North America, Molex, OSRAM, Veeco, ETi Solid State Lighting, Inc., Philips Lighting Holding B.V.
Solid State Lighting Market
Increasing government endorsement and funding along with focus on R&D may accelerate solid state lighting market demand. These products increase energy efficiency, reduce heat dissipation and reduce energy costs which may drive overall industry growth.
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High efficiency, improved battery life, and design flexibility are contributing to rising solid state lighting usage in automotive lighting applications. Additionally, increasing usage of solid state lighting technology in high, mid and low-end cars pertaining to cost standardization and optimization may further propel solid state lighting market. Rising high-brightness LEDs demand for providing high visibility & differentiation is likely to boost the market.
High upfront costs of LED lamps owing to higher component costs and dependence on manual manufacturing techniques may hamper SSL market. Moreover, technological advancement in bulb manufacture has resulted in high-efficiency incandescent bulbs production which are much cheaper and offer better white-light emission which may drive solid state lighting market growth.
Ban on energy-inefficient lighting products such as incandescent and halogen bulbs majorly in the U.S., Germany, France and UK is likely to significantly boost solid state lighting market growth. For instance, EU ban on incandescent, halogen bulbs & CFL lamps is further promoting the usage of LED bulbs in the region. Regulations against incandescent bulb import, manufacture or sale for general illumination applications is estimated to significantly expand the market size up to 2024.
Researchers have been able to increase indium content in blue LEDS which enabled the generation of white light by using red, blue and green LEDs. Similarly, the use of halide perovskite nanoparticles was found to improve light generation efficiency which may accelerate growth of solid state lighting market size.
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Germany LED based solid state lighting market share from industrial applications is poised to exceed USD 2.5 billion over the foreseeable time period. They are widely used in the automotive sector due to its cutting-edge design which in turn enhances car’s aesthetic look and style.
North America led by U.S., Canada and Mexico LED market size from mining applications surpassed USD 600 billion in 2017. The region is witnessing high disposable income and regulations on incandescent bulb use. LEDs offer high durability, safety, are explosion-proof, and high portability which may accelerate SSL market growth. These products comprise of floodlights,
Solid State Lighting Market share is moderately fragmented with major industry players such as General Electric Manufacturing Company (GEMAC), TSMC North America, Molex, OSRAM, Veeco, ETi Solid State Lighting, Inc., Philips Lighting Holding B.V., FC Lighting, MSI, Coolon LED Lighting and Eaton.
Browse key industry insights spread across 530 pages with 1284 market data tables & 35 figures & charts from the report, Solid State Lighting Market in detail along with the table of contents:
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