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

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

An LED Lighting Driver provides an electric current specific to the LED system that it operates, similar to a ballast for a fluorescent or HID light system. Additionally, an LED driver acts as a voltage regulator, controlling the amount of power to an LED or string of LED's. LED drivers may be constant current or constant voltage types, and dimming or non-dimming.

Market Overview:

The latest research study on the global LED Lighting Driver market finds that the global LED Lighting Driver market reached a value of USD 9659.68 million in 2022. It’s expected that the market will achieve USD 19271.7 million by 2028, exhibiting a CAGR of 12.2% during the forecast period.

Market Opportunities and Drivers

Affected by increasing environmental pressure and rising energy prices, many countries regard banning high-energy-consuming products as an important means of energy conservation and environmental protection, and many countries have adopted the timetable of the policy of banning or banning the sale of incandescent lamps, using policies to promote the use of energy-saving and environment-friendly lamps. Most incandescent bulbs were banned in the US market in 2014. On September 1, 2012, the traditional light bulbs of EU completely withdrew from the market. The Japanese government plans to ban the production and import of incandescent lamps and fluorescent lamps with high energy consumption after 2020, which is intended to popularize more energy-saving LED lamps. Japan will impose stricter restrictions on the energy-saving performance of lighting appliances. If the relevant standards cannot be met, they will not be produced or imported.

LED has the characteristics of low energy consumption, small size, long life, no pollution, fast response, low driving voltage, strong earthquake resistance, high color purity, etc. It is known as a new generation of lighting source and green light source. In recent years, with the continuous progress of LED technology, the cost and price of LED are constantly decreasing, which makes the comprehensive cost-effective advantages of downstream LED terminal applications increasingly prominent, and the application scope is constantly expanding. The market potential of LED terminal applications has been further explored, and they are widely used in indoor lighting, outdoor lighting, commercial lighting, public space lighting, industrial lighting, gardening lighting and other scenes, and the penetration rate of LED in the downstream market is further improved.

The LED lighting driver develops rapidly with the continuous expansion of LED market application fields. With the continuous penetration of LED in the downstream application market, the high-efficiency driving technology has developed rapidly in line with the market trend. With the multiple favorable support of policy-driven, industry technology path optimization and market demand, the market demand of LED lighting driver industry is constantly increasing.

Region Overview:

From 2022-2027, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

The top three companies are MEAN WELL, Philips (Signify), Inventronics, with the revenue market share of 4.78%, 3.01% and 2.40% in 2021.

Founded in 1982, MEAN WELL is one of the world's few manufacturers dedicated to standard power supply products. Thanks to robust partnerships with 245 plus authorized distributors around the world, MEAN WELL has been growing and getting stronger for three decades. With 2,800 employees located at its global headquarters in New Taipei Industrial Park, Taiwan, branches and sales offices at Guangzhou, Shenzhen, Suzhou in China, California USA, and Netherlands in the EU, four production bases in New Taipei City (Taiwan), Huadu District in Guangzhou, Suzhou City in China, and Bangalore in India.

Philips is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. Philips lighting is a global market leader with recognized expertise in the development, manufacturing & application of innovative (LED) lighting solutions.

In 2018, Philips Lighting changed its name to Signify, although the company still produces lights under the Philips.
Signify is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Signify Philips products, interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces.

Segmentation Overview:

As for product types, the Standard(non-dim) segment held the largest market share in 2021.

Application Overview:

By application, the Outdoor Lighting segment occupied the biggest share from 2017 to 2022.

Key Companies in the global LED Lighting Driver market covered in Chapter 3:

SHENZHEN JUSON INDUSTRIAL CO., LTD
TCI
MOSO Power
MEAN WELL
OSRAM
SELF
SNAPPY
KEGU
Philips (Signify)
Delta Electronics
SOSEN
Tridonic
Eaglerise
Hubbell Lighting
LIFUD
Inventronics

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

DALI0-10V Dimming
Standard(non-dim)
Triac Dimming
Smart Driver

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

Indoor Lighting
Outdoor Lighting
Special Lighting

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)