LED Market Size to record USD 96.82 Bn growth — Technavio identifies APAC as key market

NEW YORK, July 14, 2022 /PRNewswire/ — The global LED market is forecasted to grow by USD 96.82 billion, accelerating at a CAGR of 13.10% between 2020 and 2025. Technavio segments the market by application (general lighting, backlighting, automotive lighting, and others), geography (APAC, Europe, North America, South America, and MEA), and product (luminaires and lamps). The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.

 

Key points covered in the LED market study:
  • Market estimates and forecast 2021-2025
  • Key drivers, trends, and challenges impacting market growth
  • Segment-wise, region-wise, and country-wide analysis
  • Analysis of market share by vendors
  • Key product launches and regulatory climate
  • Post-COVID-19 impact on the market landscape. Download PDF Report Sample

Governments and regulatory bodies in developed nations such as the US have implemented stringent reforms related to the use of energy. Several cities in the US such as Seattle, Minneapolis, Oklahoma City, St. Louis, Richmond, Orlando, Hartford, Milwaukee, Nashville, and Phoenix are observing high adoption of LEDs. Similarly, the European Union has established a framework called the Ecodesign Directive, which focuses on improving the energy efficiency of products and removing inefficient lamps from the European market. Such measures are creating significant growth opportunities for vendors operating in the market.

Technavio categorizes the global LED market as a part of the global semiconductors market within the overall global semiconductors and semiconductor equipment market. The parent, global semiconductor market covers manufacturers of semiconductors and related products. Technavio defines semiconductor manufacturers as the companies that are involved in the production of integrated circuits (ICs) such as memory, logic, analog, and micro components; optoelectronics; sensors; and discrete semiconductors.

The market is primarily driven by the growing adoption of energy-efficient lighting technologies. Lighting consumes 20% of the global electricity production. With the increasing demand for lighting, the demand for electricity is increasing steadily across the world. This is driving many countries to ban the use of incandescent bulbs and encourage the adoption of other energy-efficient lighting technologies, including halogen, CFL, LFL, and LED. Besides, the growing awareness about power and energy conservation among consumers has increased the adoption of energy-efficient lighting technologies, particularly LEDs, which consume at least 75% less energy than traditional incandescent bulbs and last 25 times longer. All these factors are driving the growth of the market in focus.

The full report provides information on other drivers, trends, and challenges that are impacting the growth of the market. Request a Sample PDF Report

APAC to dominate the LED market with a 50% share and the market will record the highest growth in the region during the forecast period. The market in APAC is growing at a rapid rate due to the increased demand for LEDs from commercial and residential end-users. The region is emerging as a global hub for industries such as retail, hospitality, and healthcare. Many multinational companies are setting up their manufacturing facilities in the region due to the availability of low-cost labor and raw materials. Moreover, the thriving IT infrastructure in the region is expected to foster the growth of the LED market in APAC during the forecast period.

General lighting segment will generate maximum revenue in LED market. The general lighting segment is witnessing unprecedented demand for LEDs due to the presence of favorable government regulatory frameworks across the globe for LED lighting. In addition, the declining cost of LEDs will further accelerate the growth of the market in the segment.

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The global LED market is highly fragmented and comprises well-diversified international and regional vendors. The international players are increasing their footprint globally with LEDs becoming the go-to lighting technology. Technavio expects the competitive environment to intensify over the forecast period with an increase in product or service extensions, M&A, and innovations in technology by the leading global and regional vendors. Also, international players are engaging in the acquisition of regional or local players to grow and expand their product lines and gain a competitive advantage over their competitors. A majority of the vendors in the market are manufacturers of lighting solutions that are extensively focused on the LED lighting segment.

Some of the key players in the LED market include:
  • Acuity Brands Inc.
  • ams AG
  • Bridgelux Inc.
  • Eaton Corp. Plc
  • General Electric Co.
  • LumiLEDs Holding BV
  • Nichia Corp.
  • Signify NV
  • SMART Global Holdings Inc.
  • WOOREE E and L Co. Ltd.

Didn’t find what you are looking for? Our analysts can help you customize this report based on your business requirements. The industry experts at Technavio will work directly with you to understand your needs and provide you with customized data in a short time. Speak to our Analyst Now

Related Reports:

LED Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.10%

Market growth 2021-2025

USD 96.82 billion

Market structure

Fragmented

YoY growth (%)

4.22

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 50%

Key consumer countries

China, US, Japan, India, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Acuity Brands Inc., ams AG, Bridgelux Inc., Eaton Corp. Plc, General Electric Co., Lumileds Holding BV, Nichia Corp., Signify NV, SMART Global Holdings Inc., and WOOREE E and L Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents :

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Luminaires – Market size and forecast 2020-2025
  • Lamps – Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • General lighting – Market size and forecast 2020-2025
  • Automotive lighting – Market size and forecast 2020-2025
  • Backlight – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Acuity Brands Inc.
  • ams AG
  • Bridgelux Inc.
  • Eaton Corp. Plc
  • General Electric Co.
  • Lumileds Holding BV
  • Nichia Corp.
  • Signify NV
  • SMART Global Holdings Inc.
  • WOOREE E and L Co. Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations
About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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