High-Brightness LED Market Size, Share, Trend Scenario and Forecast to 2032 | CAGR of 10%

World HB-LED market would reach $29 billion by 2022 from $15 billion in 2015; growing at a CAGR of 10% from 2016 to 2022. High-brightness LEDs (HB-LEDs) are semiconductor-based advanced LEDs with higher luminosity. It is a cost effective solution for all lighting as well as other application purposes such as backlighting in large screen displays, non-backlight displays (OLED), and others. Hence, HB-LED is expected to take over the conventional lights, CFL and CCFL lighting market due to advanced features. In addition, these are popularly utilized in sign & signals, TVs, and mobiles as they are available in various sizes and can be mounted in any circuit.

Other players in the value chain include (profiles not included in the report):, , Eaton Corporation, Everlight Electronics Co., Ltd., Intematix Corporation, GE Lighting Solutions, LG Innotek Co Ltd, Broadcom Ltd., Kingbright Electronic Co, Ltd, International Light Technologies

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

HB-LED is rapidly gaining significance in mobile electronics owing to its benefits such as longer life span, dimmability, and reduced cost of LED components. Moreover, there is a swift rise in display and large screen backlighting market, which further drives the market growth. However, high initial cost and excessive usage of HB-LED in high temperatures may cause breakdown, as its performance is highly dependent on ambient temperature. Moreover, rise in regulatory concerns regarding energy-saving and increasing green construction are expected to provide ample opportunities for growth.

The HB-LED market is segmented based on application and geography. The application segment is categorized into automotive application, general lighting, backlighting, mobile, signals & signage, and others. Based on geography, the HB-LED market is studied across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Taiwan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

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Key highlights of the report include:

Market Size and Growth:

The report provides a detailed analysis of the market size, growth rate, and revenue projections for the forecast period. It identifies the key drivers and restraints influencing market growth and outlines strategies to capitalize on emerging opportunities.

Competitive Landscape:

In-depth profiles of the leading companies in the industry, including their market share, product portfolio, and recent developments, are presented. The report also evaluates the competitive strategies employed by these players to gain a competitive edge.

POTENTIAL BENEFITS FOR STAKEHOLDERS

Comprehensive analysis of the current trends and future estimations in the global HB-LED market are discussed.
The report provides a competitive scenario of the market with growth trends, structure, driving factors, scope, opportunities, and challenges.
A detailed analysis of the key segments provide insights on the market dynamics.
Porter's Five Forces analysis highlights the potential of buyers and suppliers and threat of substitutes and new entrants, elucidating the competitive structure of the market.
Value chain analysis provides key inputs on the role of stakeholders involved at various stages.

KEY PLAYERS

Epistar Corp
Cree, Inc.
Philips Lumileds
Moritex Corporation
Samsung Electronics Co Ltd
Seoul semiconductor
Osram Opto Semiconductor
American Bright Optoelectronics Corps
Nichia Corporation
Toyoda Gosei

MARKET SEGMENTATION

The global HB-LED market is segmented by application and geography.

BY APPLICATION

Automotive Application
General Lighting
Backlighting
Mobile
Signals and Signage
Others

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BY GEOGRAPHY

North America
U.S.
Mexico
Canada
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Taiwan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

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