LED Light Engine

Global LED Light Engine Market to Reach US$173.0 Billion by 2030

The global market for LED Light Engine estimated at US$66.4 Billion in the year 2023, is expected to reach US$173.0 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2023-2030. Luminaires, one of the segments analyzed in the report, is expected to record a 15.2% CAGR and reach US$106.3 Billion by the end of the analysis period. Growth in the Lamps segment is estimated at 13.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$17.2 Billion While China is Forecast to Grow at 18.9% CAGR

The LED Light Engine market in the U.S. is estimated at US$17.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$43.3 Billion by the year 2030 trailing a CAGR of 18.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.0% and 12.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR.

Global LED Light Engine Market - Key Trends and Drivers Summarized

How Is the LED Light Engine Market Transforming the Lighting Industry?

LED light engines, which integrate LED light sources with drivers and control systems into a single unit, are revolutionizing the lighting industry by providing energy-efficient, long-lasting, and customizable lighting solutions. These light engines are used in a wide range of applications, from residential and commercial lighting to automotive and industrial sectors. LED light engines offer several advantages over traditional lighting systems, including superior energy efficiency, reduced maintenance costs, and enhanced lighting quality. As smart lighting systems and connected lighting solutions gain popularity, LED light engines are playing a critical role in enabling these innovations, offering greater control over lighting environments.

What Innovations Are Shaping the LED Light Engine Market?

Technological advancements in LED light engine design and functionality are driving the market forward. Innovations such as tunable white technology, which allows for the adjustment of color temperature, are gaining traction in commercial and residential settings, where customized lighting solutions are in demand. Additionally, the integration of wireless connectivity and smart controls into LED light engines is enabling the development of smart lighting systems that can be controlled remotely via smartphones or integrated into building management systems. Improved thermal management solutions are also enhancing the lifespan and performance of LED light engines, making them more reliable and efficient in a wide range of environments.

How Do Market Segments Define the Growth of LED Light Engines?

Types include standard and customized LED light engines, with customized solutions gaining traction due to the growing demand for tailored lighting in commercial and industrial applications. Applications range from residential lighting to commercial, automotive, and industrial sectors, with commercial lighting representing the largest segment as businesses seek to reduce energy costs and improve lighting quality. End-users include homeowners, commercial building operators, automotive manufacturers, and industrial facilities, with commercial and industrial sectors driving significant demand due to the energy-saving potential and long lifespan of LED light engines.

What Factors Are Driving the Growth in the LED Light Engine Market?

The growth in the LED light engine market is driven by several factors, including increasing demand for energy-efficient lighting solutions, advancements in smart lighting technology, and rising awareness of the environmental benefits of LEDs. As businesses and homeowners seek to reduce energy consumption and maintenance costs, LED light engines are becoming the preferred choice for lighting systems. The growing adoption of smart home and smart building technologies is also driving demand for connected LED light engines that offer greater control and customization. Furthermore, government regulations promoting energy efficiency and reducing carbon emissions are supporting the shift toward LED-based lighting solutions, further propelling market growth.

Select Competitors (Total 36 Featured) -

• Ab Fagerhult
• Acuity Brands, Inc.
• Cree, Inc.
• GE Lighting (GE Lighting + Current)
• Gerard Lighting
• Glamox AS
• Halla, A.S.
• Helvar OY AB
• Hubbell Incorporated
• Ideal Industries Inc.
• LEDrabrands, Inc.
• Lumitech LLC
• Lutron Electronics
• OSRAM GmbH
• Samsung Electronics Co., Ltd.
• Signify Holding
• Zumtobel Lighting GmbH

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.