Global High-Power LED Market Report and Forecast 2023-2028

Global High-Power LED Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global high-power LED market is projected to grow at a CAGR of 6% between 2023 and 2028 to reach a value of USD 37.5 billion by 2028. Aided by the surging demand for energy-efficient lighting solutions across various industries, including automotive, consumer electronics, and industrial sectors, the market is expected to grow significantly by 2028.

High-power LEDs (Light Emitting Diodes) are semiconductor light sources that emit light when current flows through them. They are known for their brightness and energy efficiency, making them ideal for a broad range of applications that require intense, focused light. Unlike traditional LEDs, high-power LEDs can emit thousands of lumens, which are units of light output.

The automotive sector is a major contributor towards the high-power LED market demand. These LEDs are extensively used in vehicle headlights, signal lights, and interior lights owing to their high luminous efficiency, low energy consumption, and long lifespan.

In consumer electronics, high-power LEDs are increasingly finding applications in TV backlight units, flashlights in smartphones, and display panels. Their high brightness and compact size are particularly advantageous, offering high-quality displays with energy savings.

Energy efficiency is a defining feature of high-power LEDs, which is a pivotal driver of the global high-power LED market expansion. In an era where energy conservation and sustainability are of utmost importance, high-power LEDs offer a compelling solution. They are designed to emit a significant amount of light using minimal energy, resulting in lower electricity bills and reduced carbon emissions.

High-power LEDs are well-suited for industrial environments and outdoor lighting due to their robust nature and high output. They are increasingly employed in street lighting, warehouses, and factories where high levels of consistent lighting are required for extended periods. These LEDs can withstand extreme conditions without significant degradation in performance, thus making them a preferred choice in demanding applications.

The high-power LED market growth is characterised by continuous advancements in technology. Innovations are focusing on enhancing the luminous efficiency, reducing the size, and extending the lifespan of these LEDs. Significant R&D investments from key players are leading to the production of LEDs with higher outputs, lower heat generation, and enhanced colour quality.

Market Segmentation

The market can be divided based on packaging type, application, and region.

Market Breakup by Packaging Type

• Mesa
• Flip Chip
• Vertical

Market Breakup by Application

• Automotive
• General Lighting
• Backlighting
• Flash Lighting
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global high-power LED market. Some of the major players explored in the report by Expert Market Research are as follows:

• Cree Inc.
• Nichia Corporation
• Osram Opto Semiconductors Gmbh
• Samsung Electronics Co., Ltd.
• Lumileds Holding B.V.
• Everlight Electronics Co.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.