Global High-Power LED Market Report and Forecast 2024-2032

Global High-Power LED Market Outlook

The global high-power LED market is expected to grow at a CAGR of approximately 5% in the forecast period of 2024-2032, driven significantly by the rising adoption of high-power LED in the automotive lighting.

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Europe and Asia Pacific to be the Significant Regional Markets for High-Power LED

With significant technological innovations taking place in it, Europe is expected to be one of the significant regional markets for high-power LED. The United Kingdom, Germany, and France are the key European countries contributing significantly to the market. The general and automotive lighting applications are offering numerous growth prospects to the market players in the region. The increasing adoption of energy-efficient lighting solutions, rising Hb-led light applications, rising research and development activities in the market, rising large-scale replacements of traditional luminaires, the continuous falling cost of the Led component and rising long life and continuous usage in Europe are further accelerating the market growth.

During the forecast period, Asia Pacific is expected to witness the highest growth rate owing to the growing adoption of high-power LED lights in general lighting applications, mainly in India and China. The growth of the high-power LED market in countries such as India, China, and Japan can be credited to the booming demand for eco-friendly and energy-saving lights in buildings, roads, and railways. Furthermore, several smart city development projects in various countries are in the works, which are expected to drive demand for high-power LED lights.

Market Segmentations

LED is the abbreviation for light-emitting diode, which is a semiconductor unit. When electricity flows in the forward direction, it emits light in different colours. High-power LEDs are a form of LED, which have higher power and brightness.

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Based on the packaging type, the high-power LED market can be divided into the following:

• Mesa
• Flip Chip
• Vertical

The high-power LED market can be broadly categorised based on its applications into:

• Automotive 
• General Lighting
• Backlighting
• Flash Lighting
• Others

The regional markets for the high-power LED market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Increasing Application of High Brightness Augmenting the Market Growth

An increasing application of high brightness along with high power LED’s long life and continuous use, small size, lower power consumption, and low voltage, are the main factors driving the growth of the high-power LED market. The increasing adoption of energy-efficient lighting solutions, rising large-scale replacements of traditional luminaires, extensive adoption of innovative technologies, IoT, real-time monitoring of illumination, rising technological advancement in connected lighting, rising government initiatives towards green construction and high demand from the automotive industry are some of the major factors aiding the market growth. Also, rising research and development activities in the market, increasing modernisation in the products offered, and rising demand for smart lighting systems will further create new opportunities for the high-power LED market in the forecast period.

In addition, upcoming sports events are creating lucrative opportunities for the market players. High-power LED lighting systems with a better illumination quality are quintessential for sports events, such as basketball, cricket, hockey, lawn tennis, and football. LED floodlights ensure good vision, allowing athletes to play in good conditions and spectators to enjoy the game.

Key Players in the Global Market for High-Power LED

The report gives a detailed analysis of the following key players in the global high-power LED market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Cree Inc.
• Nichia Corporation
• Osram Opto Semiconductors GmbH
• Samsung Electronics
• Lumileds Holding B.V.
• Everlight Electronics Co.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report