Global Chip Scale Package (CSP) LED Market to Reach $6.8 Billion by 2030
The global market for Chip Scale Package (CSP) LED estimated at US$2.2 Billion in the year 2023, is expected to reach US$6.8 Billion by 2030, growing at a CAGR of 17.4% over the analysis period 2023-2030. High Power CSP LED, one of the segments analyzed in the report, is expected to record a 17.8% CAGR and reach US$3.3 Billion by the end of the analysis period. Growth in the Mid Power CSP LED segment is estimated at 18% CAGR for the next 7-year period.
The U.S. Market is Estimated at $673.6 Million, While China is Forecast to Grow at 16.7% CAGR
The Chip Scale Package (CSP) LED market in the U.S. is estimated at US$673.6 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 16.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.3% and 14.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 12.8% CAGR.
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