Press release
High Brightness LED Market Growth Factor By Key Players: Nichia America Corporation, Broadcom Inc., Cree, Seoul Semiconductor, OSRAM, Samsung Electronics, Sharp Electronics Corporation USA
High Brightness (HB) LED Market
Varied stringent government regulations and support across the globe for the reduction of energy loss is expected to positively elevate the industry. In India, the Bureau of Energy Efficiency has initiated pilot programs for encouraging the use of LED streetlights for municipalities and local civil bodies for secondary parks, roads and secondary areas.
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High brightness LED market size is projected to be valued at USD 22.46 billion by 2023. Rising regulatory concerns regarding conservation of energy is expected to propel global HB LED market growth over the forecast period. These devices offer enhanced effectiveness, longer life span, and are robust as compared to incandescent lights. Their life span ranges between 50,000 and 100,000 hours, with energy considerable energy savings over traditional counterparts.
Lighting applications are expected to dominate the high brightness LED market with majority share. This is due to their usage in various infrastructural projects, as well as increasing consumer awareness and large replacement demand. These devices are robust and are likely to have higher life span when compared to traditional incandescent bulbs, its life time ranges from 50,000 to 100, 000 hours. These products are one of the efficient lighting sources available and It enables in saving 50% to 70% of energy over the traditional technologies.
Extended life cycle is projected to lower replacement cost as well as maintenance crew charges to a great extent. Furthermore, industry players are now concentrating on optimizing pricing strategies to boost high brightness LED market share over the forecast period. Absence of IR radiation has led to proliferating application for food and textile illumination, which is forecast propel industry growth over the forecast timeframe.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & analysis:
1. Nichia America Corporation
2. Broadcom Inc.
3. Cree
4. Seoul Semiconductor
5. OSRAM
6. Samsung Electronics
7. Sharp Electronics Corporation USA
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U.S., China and Japan are now taking rigorous measures for energy optimization. China high brightness LED market has witnessed considerable support through immense financial backing, vibrant resources, as well as incentives to improvise manufacturing capacity. Furthermore, the country is also focusing on innovation & upstream of raw materials owing to high dependency of producers on international players for specific upstream MOCVD resources.
Asia Pacific HB LED market is forecast to be the most attractive region and is likely to be valued at USD over 11 billion by 2023. Availability of low priced components paired with encouraging Chinese government policies is expected to justify the growth impact across the region.
Industry participants accumulating high brightness (HB) LED market share include Nichia America Corporation, Kingbright Electronic Co, Ltd, Broadcom Inc., Cree, Seoul Semiconductor, OSRAM GmbH, Samsung Electronics, Sharp Electronics Corporation USA, and Moritex Corporation.
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