Global Flex LED Strip Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Flex LED Strip Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Flex LED Strip Lights are thin flexible printed circuit boards with LEDs and resistors attached that populated by surface mounted light-emitting diodes (SMD LEDs) that usually comes with an adhesive backing.

Market Overview:

The latest research study on the global Flex LED Strip market finds that the global Flex LED Strip market reached a value of USD 732.73 million in 2022. It’s expected that the market will achieve USD 1252.74 million by 2028, exhibiting a CAGR of 9.35% during the forecast period.The unexpected arrival of the COVID-19 epidemic has cast a thick shadow on all walks of life around the world. Especially in the manufacturing industry, production and sales have been affected to a certain extent due to the impact of the epidemic.At the end of the first quarter of 2020, as a major Flex LED Strip producer, Chinas epidemic has been effectively controlled, while epidemics in other countries and regions have subsequently broken out, causing a break in the global supply chain. As one of the manufacturing industries, Flex LED Strip has also suffered a huge negative impact. Only a handful of companies have achieved double profits.During the epidemic, for Flex LED Strip companies that have deployed a global strategy, unfavorable factors such as the interruption of the logistics chain and the reduction of downstream customer orders have put them under tremendous operating pressure. For Flex LED Strip companies that focus on their domestic markets, limited gathering places for people, fewer people going out, and the cancellation of large-scale events have all reduced downstream customers and consumers' demand for Flex LED Strip. The main demand for Flex LED Strip products comes from commercial applications, such as the demand from commercial facilities such as shopping malls, hotels, and bars. However, during the COVID-19 period, governments in almost all regions of the world have issued laws to forcibly close such entertainment venues.

Taking environmental friendliness as the development goal

Flex LED Strip is one of the important solutions for green lighting. Flex LED Strip products achieve high efficiency, energy saving, environmental protection, safety and stable performance through scientific sustainable lighting design. These superior properties of the product can save power, protect the environment, improve lighting quality, and ultimately improve the living environment, improve the quality of life, and create a safe, comfortable, economical and suitable environment. Following the trend can bring many development opportunities to the industry, thereby driving the development of the industry.

Product features drive product demand

First of all, the flex LED strip has a pure color. The flex LED strip uses high-brightness SMD LED as the light-emitting element, so it has the advantages of the LED light-emitting element, the light color is pure, soft, and no glare. It can be used for decoration and lighting. Secondly, the flex LED strip is flexible: the flex LED strip uses a very flexible FPC as the substrate, which can be bent at will without breaking, and is easy to shape, suitable for various advertising modeling needs. In addition, whether the material of the flex LED strip is LED or FPC, which is environmentally friendly, can be recycled and will not cause environmental pollution and damage due to extensive use. And most of the LED flexible strips use low-voltage power, which is very safe to use. Both the elderly and children can be used safely without causing safety hazards. Based on the above characteristics, it is widely used in building outlines, steps, booths, bridges, hotels as well as the production of advertising signs, various large-scale animations, and advertising design of calligraphy and painting. With the gradual maturity of flex LED strip technology, its application range will be more extensive.

Region Overview:

In 2021, the share of the Flex LED Strip market in China stood at 57.92%.

Company Overview

Osram is one of the major players operating in the Flex LED Strip market, holding a share of 14.82% in 2022.

Osram

Osram is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, their products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to smart and connected lighting solutions in buildings and cities.

Philips

Philips operates as a technology company. The Company provides healthcare, electronics, lighting, and consumer lifestyle products, focused on improving people's lives through innovation. Philips serves customers worldwide.

Segmentation Overview:

Among different product types, 5050 segment is anticipated to contribute the largest market share in 2027.

3528

This is the metric system, which means that the length of the LED component is 3.5mm, the width is 2.8mm, and the industry abbreviation is 3528.

5050

This is also called the metric system, which means that the length of the LED component is 5.0mm, the width is 5.0mm, and the industry abbreviation is 5050.

Application Overview:

By application, the Low Voltage segment occupied the biggest share from 2017 to 2022.

Low Voltage

The low-voltage flex LED strip works under the working voltage of DC 12V, which is a safe voltage and can be used on various occasions without any danger to the human body. The installation of the low-voltage flex LED strip requires the installation of a DC power supply in front of the light strip, which is relatively complicated during installation. Low-voltage flex LED strip are generally 5~10 meters/roll at most; DC power supply over 10 meters attenuates severely.

High Voltage

The 220V voltage used by the high-voltage flex LED strip is a dangerous voltage, and there are safety hazards in some risky applications. The installation of a high-voltage flex LED strip is relatively simple, and it can be directly driven by a high-voltage driver, and it can work normally after turning on the 220V power supply. High-voltage flex LED strip can generally be 50-100 meters per roll. Because of the high voltage, the high-voltage flex LED strip generates more heat per unit length than the low-voltage flex LED strip, which directly affects the life of the high-voltage flex LED strip.

Key Companies in the global Flex LED Strip market covered in Chapter 3:

NVC LightingLedtronicsSidon LightingLEDMYOppleOMLForge EuropaOsramJesco LightingFSLJiasheng LightingPhilipsPAKOptek Electronics

In Chapter 4 and Chapter 14.2, on the basis of types, the Flex LED Strip market from 2018 to 2029 is primarily split into:

35285050Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Flex LED Strip market from 2018 to 2029 covers:

Low VoltageHigh VoltageOthers

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)Latin America (Brazil, Mexico, Argentina)Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)