LED Materials Market to Reach USD 35.18 billion, Globally, by 2029 at 10.57% CAGR | Hitachi Metals, Ltd, Sumitomo Electric Industries, UBE Industries

Exactitude Consultancy Market Research analyses that the LED Materials Market will witness a CAGR of 10.57% for the forecast period of 2023-2029 and is likely USD 11.25 billion in 2022 to reach at USD 35.18 billion by 2029.

Research report on the LED Materials market allows buyers to deliver unique solutions to various end users and improve their business presence in the industry. The report is introduced with accurate statistics regarding market share, size, and growth rate for the buyers to focus on their operations and achieve various goals smoothly. Numerous driving factors, restraints, opportunities, and threats affecting the LED Materials market growth is described in the study for the strategy planners to plan policies pertaining to production volume, delivery of services, making connections, and creating awareness in the minds of consumers.

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Key  Driver

The growing adoption of energy-efficient lighting technologies is a major driver boosting the LED material market.

The demand for electricity has increased due to the growing demand for lighting, with lighting consuming approximately 20% of global electricity production. Governments worldwide are promoting energy-efficient lighting technologies to address this issue. Incandescent bulbs have been banned in some countries, leading to a higher adoption of energy-efficient alternatives such as halogen, CFL, LFL, and LED lighting technologies.LED lighting products are expected to witness higher adoption during 2017-2023 compared to CFLs and LFLs, thanks to their cost-effectiveness and energy-saving features. LEDs consume significantly less energy than traditional incandescent bulbs and have a longer lifespan. Similarly, LEDs consume less energy than CFLs and last longer as well. Manufacturers are focusing on energy-efficient and environmentally friendly lighting solutions, driving the growth of the global LED material market.

Major  Challenge

The high average cost per fixture is a major factor hindering market growth. 

Despite the declining ASPs of LED lighting products worldwide, adoption is a challenge because of the high average cost per fixture. The initial costs incurred by customers for the installation of LED lighting fixtures are comparatively much higher than that of traditional incandescent or halogen bulbs. This initial cost includes the cost of LED fixtures such as wires as well as labor costs. There are a few challenges related to the use of LEDs. For instance, in newly built homes, wiring is not a concern while installing LED bulbs. However, older homes might require renovation of the electrical system for the safe installation of LED bulbs, which increases the installation cost of LED bulbs.

LED Material Key Market Trends

Due to rising urbanization rates and a growing number of government efforts that promote the use of LED lights, the demand for LED lighting systems is currently predominantly concentrated in Asia Pacific regions. The government's encouragement of investments in energy-efficient lighting technology through various legislation has increased the use of LED lights in a variety of commercial, industrial, and residential settings.
The use of LEDs in headlamps, rear lamps, turn signals, and brake lights is a profitable opportunity in the continuously expanding automobile sector. The demand for LED lights is anticipated to be driven by a number of other significant reasons, including rising infrastructure investments, a rapid expansion of street lighting systems, a drop in the average price of LEDs, and several governments and forthcoming smart building initiatives.

Prominent Key players of the LED Materials Market survey report:

Historical data available in the report elaborates on the development of the LED Materials on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Nichia Corporation, Epistar Corporation, Koninklijke Philips N.V., OSRAM Licht AG, II-VI incorporated,  AkzoNobel, Fagerhult Group, Cree, Inc., Hitachi Metals, Ltd, Sumitomo Electric Industries, UBE Industries, Ltd, Addison Engineering, Inc., China Crystal.

Stay Updated with Recent Developments:

Nichia, in January 2023, declared the inclusion of NVSW219C-V2 and NVSW719AC to its robust-power 3535-size profile of The NVSW719AC is a completely new LED that escalates the possibility of lighting design. NVSW219C-V2, in comparison, has an unparalleled color consistency through a dome-less structure.

Infineon Technologies AG and Nichia Corporation, in January 2023, declared the debut of first-ever completely integrated micro-LED light engine for HD adaptive driving beam applications.

GE Lighting unveiled its first collection of new pendants and ornamental light fixtures with an integrated LED lighting in December 2022. The new fixtures integrated with LED lighting have the capacity to be customized.

LED Materials Market Segmentation:

Led Materials Market By Type, 2023-2029, (USD Billion), (Thousand Units)

Wafer
Substrate
Epitaxy
Others

Led Materials Market By Application, 2023-2029, (USD Billion), (Thousand Units)

General Lighting
Automotive Lighting
Consumer Electronics
Backlighting
Others

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the LED Materials Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global LED Materials industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the LED Materials industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global LED Materials Market Research Report 2023-2029

1 LED Materials Market Overview

1.1 Product Overview and Scope of LED Materials

1.2 LED Materials Segment by Type (Product Category)

1.3 Global LED Materials market Segment by Application

1.4 Global LED Materials Market by Region (2023-2029)

1.4.1 Global LED Materials Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of LED Materials (2023-2029)

1.5.1 Global LED Materials Revenue Status and Outlook (2023-2029)

1.5.2 Global LED Materials Capacity, Production Status and Outlook (2023-2029)

…

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Thank you for your interest in the LED Materials Market research publications; you can also get individual chapters or regional/country report versions such as Germany, France, China, Latin America, GCC, North America, Europe or Asia.

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