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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global LED Light Engine Market Outlook
The LED light engine market stood at a value of almost USD 46.00 billion in 2023. The industry is further expected to grow at a CAGR of 12.2% over the forecast period of 2024-2032.
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Properties and Applications
LED light engine usually comprises of an LED chip installed on a circuit board with electrical and mechanical attachments, which means that it is prepared to be fixed in the luminaire.
The global LED light engine industry can be divided based on segments like products, forms, installation types, and end-uses.
The industry can be divided based on its products into lamp and luminaire. The industry can be divided based on its forms as flexible and rigid. Rigid LED light engine can be further subdivided into linear and round, among others. The industry can be bifurcated based on installation type into new installation and retrofit installation.
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The industry can be broadly categorised based on its end-uses into:
- Residential
- Commercial
- Industrial
- Others
The EMR report looks into the regional LED light engine markets like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
Market Analysis
The increased demand for energy-efficient lighting systems is the key variable affecting the market growth. Modernising and developing infrastructure, such as smart cities, leading to the application of IoT-based lighting technologies is driving the industry growth. Further, reduced LED prices, increased penetration of LEDs as light sources in general lighting, and the fast growth of LED technology over standard lighting are providing a further boost to the market growth. It is anticipated that indoor lighting will have a higher market share than outdoor lighting. The housing market is anticipated to have enormous potential in the future.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global LED light engine market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Nichia Corporation
- Osram Licht AG
- Samsung Electronics Co. Ltd.
- Everlight Electronics
- Wipro Enterprises (P) Limited
- Signify N.V.
- Lutron Electronics Company
- Seoul Semiconductor Co ltd
- Cree Inc (NASDAQ: CREE)
- Lumileds
- Hubbell Incorporated
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Form |
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| Breakup by Installation Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global LED light engine market attained a value of nearly USD 46.00 billion.
The market is projected to grow at a CAGR of 12.2% between 2024 and 2032.
The major market drivers are rising industrialisation, increasing demand for energy efficient lighting systems and developing infrastructure.
The key trends guiding the market are reduced prices of LED, the rising penetration of LEDs as a light source, and advancements in LED technology.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The several products of LED light engine are lamp and luminaires.
The various forms of LED light engine in the market include flexible and rigid.
The major installation types of LED light engine considered in the market report are new installation and retrofit installation.
The significant end uses of LED light engine are residential, commercial, and industrial.
The key market players are Nichia Corporation, Osram Licht AG, Samsung Electronics Co. Ltd., Everlight Lighting Co., Ltd., Wipro Enterprises (P) Limited, Signify N.V., Lutron Electronics Co., Inc, Seoul Semiconductor Co ltd., Cree Inc., Lumileds, and Hubbell Incorporated, among others.
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