Market Definition / Research Scope
The high brightness LEDs are being utilized progressively for lighting applications. These high brightness LEDs give a lot more significant levels of light yield than the customary pointer LEDs. The previously mentioned spot new difficulties on the innovation, even though they can proffer elevated levels of execution: more noteworthy effectiveness than different types of lighting innovation and any longer lifetime. High brightness LEDs use this compelling warmth expulsion to empower the HBLED intersection to stay inside its protected cutoff points while as yet creating the light yield required. Likewise, more viable assembling measures have allowed the proficiency to be improved.
High Brightness LED Market shall reach a value of $2x61.4 Million in 2031, growing with a CAGR of 12.13% during the forecast period of 2022 to 2031.
High Brightness LED Market Growth and Trends
The high brightness (HB) LED global market is expected to grow at a CAGR of around 4.9% to reach over $22 Billion by 2026. Major factors driving the growth of this market include high brightness LED bulbs market bids better effectiveness when likened to other types of lights bulbs. Additionally, these devices are vigorous and are expected to have a higher life span as compared to traditional incandescent bulbs. Through the increasing environmental concerns, the application rate of LED is expected to grow in buildings. The general lighting industry is also anticipated to propel the demand for LED lights. The LED lights do not contain mercury, which is dangerous for the environment. There is a preference for advanced HB-LEDs and a rise in sales of downlights, replacement lamps, outdoor lights, commercial, and industrial products are key growth indicators.
Though, the signals & signage application division is exhibiting the fastest growth due to its ability to produce multiple colors and low power requirements. HB-LED growing demand has multiplied for different applications due to its different benefits such as dim ability, longer life-span, and efficiency. Besides, the demand for HB-LEDs in backlighting, portable appliance, displays, and large screen display applications has increased significantly. LED, have a longer lifespan compared to the other light sources and is likely to have a key impact on the demand. According to geographical regions, Asia-Pacific has contributed the maximum revenue share in 2017 and is expected to uphold its lead, attributed to several factors, for example, LED outdoor lighting installations and the government policies related to the installations are getting support mainly in emerging markets such as India, Russia, Vietnam, Malaysia, Indonesia, and Thailand. Additionally, improvement in government expenditure in LED orders has improved the HB-LED growth in Asian countries, mostly in India.
High Brightness LED Market Regional Analysis
The growing significance of HB-LED in mobile electronics and its cost effective utility is expected to grow the global market size of high brightness LEDs. North America is expected to exhibit the highest growth in the market with the increasing demand for HB-LEDs owing to its multiple applications and advantages. The Asia Pacific region is expected to witness an ascending growth in the market attributed to the rising demand for LEDs with a high life span. Europe is estimated to cover a major share in the market with proliferated demand in replacement of old lights. Moreover, the automotive and mobile segment is expected to fuel further growth in the region. The Middle East region is estimated to see a rapid surge in the market with the advent of intelligent transportation and increased adoption in the consumer electronics sector.
High Brightness LED Market Share and Competition
Key companies operating in this industry are: Cree, GE Lighting, LG Innotek, Lumileds, Nichia, OSRAM, Samsung Electronics and Seoul Semiconductor.
High Brightness LED Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• 6V
• 12V
• 24V
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Consumer Electronics
• General Lighting
• Automotive
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
High Brightness LED Market Companies
• Cree
• GE Lighting
• LG Innotek
• Lumileds
• Nichia
• OSRAM
• Samsung Electronics
• Seoul Semiconductor
Available Versions:-
United States High Brightness LED Market Research Report
Europe High Brightness LED Market Research Report
Asia Pacific High Brightness LED Market Research Report
India High Brightness LED Market Research Report
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