Global High Power LED Market is Set to Reach USD 17,985.3 million by 2024, Observing a CAGR of 5.4% during 2019–2024

Published Date: Oct, 2019

The global high power LED market is expected to grow at a CAGR of 5.4% during the forecast period with its market size predicted to reach USD 17,985.3 million by 2024. Globally, high power LED industry players are leveraging market growth through offering new LED lighting products. For example, in May 2019, Lumileds Holdings B.V. launched two new additions to its LUXEON chip on board (COB) LED family, such as the LUXEON COB Core Range and the LUXEON COB with CrispWhite Technology. These two COB product ranges can offer a minimum of 95 color rendering index (CRI) for the applications, such as indoor and retail lighting.

3–4.9 W category held largest share in the high power LED market in 2018

On the basis of wattage, the high power LED market is classified into 1–2.9 W, 3–4.9 W, 5–10 W, and >10 W, wherein 3–4.9 W category held largest revenue share in the market in 2018. The growth of this segment is attributed towards huge adoption of high power LED lights in automotive, in general, and sign and signal lighting applications.

Geography Insight

Geographically, Asia-Pacific has accounted for the largest share in high power LED market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the rising demand for energy-saving and eco-friendly lighting products in application areas, such as railways, roads, and buildings.

Competitive Insight

Some of the key players operating in the global high power LED market are Samsung Electronics Co. Ltd., Cree Inc., Seoul Semiconductor Co. Ltd., LG Innotek Co. Ltd., Broadcom Inc., Epistar Corporation, Everlight Electronics Co. Ltd., and MLS Co. Ltd.

Key Takeaway from the Report:

  • Among all the wattage, 3–4.9 W category held largest share in the market in 2018.
  • Among all the application, the general lighting category held largest share in the market in 2018.

The Report Offers:

  • Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
  • Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
  • Market insights by in-depth segmentation with industry dynamics.
  • Competitive analysis and benchmarking of the industry leaders and their product offerings
  • Profiles of leading players and innovators, their financial overview and product portfolio
  • Analysis of key industry trends and recent developments
  • Value chain analysis and distribution channel analysis with opportunity assessment
  • Market share analysis of major players

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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of volume (Million Units) and revenue (USD Million). The report segments the global high power LED market on the basis of wattage, application, and region.

Global High Power LED Market Coverage

Wattage Insight and Forecast 2014-2024

  • 1–2.9 W
  • 3–4.9 W
  • 5–10 W
  • >10 W

Application Insight and Forecast 2014-2024

  • General Lighting
  • Automotive
  • Signs & Signals
  • Backlighting
  • Others

Geographical Segmentation

High Power LED Market by Region

North America

  • By Wattage
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Wattage
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

  • By Wattage
  • By Application
  • By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Wattage
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, and Other Countries
Our Industry
Global High Power LED Market is Set to Reach USD 17,985.3 million by 2024, Observing a CAGR of 5.4% during 2019–2024