Press release
High Power LED Market Share Growing Rapidly With Latest Trends, Development, Revenue, Demand And Competitive Scenario
Market Insights Reports delivers key insights on the High Power LED market in its latest report titled, “High Power LED Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The high power led market is expected to register a CAGR of over 4% over the forecast period (2021 - 2026).
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Top Key Players in the Global High Power LED Market: OSRAM Opto Semiconductors GmbH, Lumileds Holding B.V., Broadcom Inc., Samsung Electronics Co Ltd, Cree Inc., LG Innotek Co. Ltd., Everlight Electronics Co. Ltd., Koninklijke Philips N.V., Seoul Semiconductor Co. Ltd., Moritex Corporation, Plessey Semiconductors Ltd.
August 2019 - Lumileds, a global vendor in innovative lighting solutions, announced the LUXEON 5050 Square LES (Light Emitting Surface) LED, a square, multi-die emitter that offers industry-leading flux and efficacy for directional lighting applications. The LUXEON 5050 Square builds on the legacy of the LUXEON 5050 Round emitter as the go-to solution for downlights and streetlights, while boosting flux by 25% and providing the highest efficacy of any 5050 packages on the market.
Key Market Trends
Increasing Adoption of High Power LED in Automotive Lighting Boosting the Market's Growth
- With the introduction of high power LEDs, there has been considerable innovation in the automotive lighting industry. LED's has the advantage of being much brighter and smaller than traditional lamps.
- The growing 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 that brings increased safe driving factor.
- For instance, LED plays an essential role in digital lighting solutions, where the vehicle lighting is directly connected to active safety systems. Under digital lighting, the entire lighting system is connected to the other systems of the vehicle such as vision systems, navigation, and emergency safety functions which enable the situation where there is the level of autonomy achieved while driving.
- This lighting technology will display information to the driver on the road itself as well as provide other users with information about the intended movements of the vehicle. This technology will eventually be used for autonomous driving and connected transportation.
- 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.
Regional Analysis:
The report offers an in-depth assessment of the growth and other aspects of the High Power LED market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Asia-Pacific is Expected to Witness the Highest Growth Rate
- Asia-Pacific is expected to witness the highest growth rate owing to the growing adoption of high power LED lights in general lighting applications, mainly in India and China.
- In India, the government has implemented a series of policies and programs to support the development of LED lighting industry, among which the most important is SLNP (Street Light National Program)which is an initiative to 21 million streetlights with LED.
- According to yo the Power Minister of India, India is expected to be the first country in the world to use LEDs for all lighting needs by 2019, which would help the nation save over INR 40,000 crore a year.
- In China, the National Development and Reform Commission (NDRC), and the Ministry of Finance (MOF) have taken several measures to administer subsidies for proliferating LED lighting products.
- The Japanese government's long-term goals incorporate the lighting projects and infrastructure related to the 2020 Olympics. Thus, the construction of numerous public buildings, general buildings, transportation, and gymnasiums is continually going on. The government plans to introduce LED lighting in these projects to attract international attention.
- Additionally, many Japanese LED lighting manufacturers demonstrated high-power LED bay lights, billboard lights, and four-meter LED tubes at Lighting Japan 2015. The country is witnessing a strong demand for high power LED luminaires, which are capable of assisting commercial applications in saving long term costs.
- Furthermore, various smart city development projects are in the pipeline in countries such as China and India, which are anticipated to generate demand for high power LED lights. For instance, China aims to encourage 100 new smart cities from 2016 to 2020 to lead the country's urban planning and development. According to a report released by the Indian Minister of Urban and Housing Affairs, 148 projects have been completed until January 2018 under India's Smart Cities Mission.
This High Power LED Market report addresses:
- The Market size from 2016-2021
- Expected market growth until 2026
- Forecast of how market drivers, restraints, and future opportunities will affect
- Segment and regions that will drive or lead the market growth and why
- Comprehensive mapping of the competitive landscape
- In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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