High Power LED Market

High Power LED Market by Packaging Type (Flip Chip, Mesa, and Vertical), Application (General Lighting, Automotive, Flash Lighting, Backlighting,) and Geography (APAC, North America, Europe, Rest of the World) - Global Forecast to 2024

Report Code: SE 7223 Jul, 2019, by marketsandmarkets.com

The high power LED market is expected to grow from USD 4.5 billion in 2019 to USD 5.6 billion by 2024, at a CAGR of 4.5% during the forecast period. The long life & continuous usage, small size, less power consumption & low voltage, and increasing high brightness application are the major factors fueling the growth of the overall market.

High Power LED Market

High power LED with vertical packaging to grow at a considerable CAGR to lead the market during the forecast period

The vertical packaging structure is used majorly for high and super high power applications. It consists of a conductive substrate at the bottom, which forms a bottom electrode, and the current flows in a vertical direction. These advantages offered by the vertical packaging would help the market to grow at a higher CAGR as compared to the Mesa packaging.

Flash lighting application to witness high growth in high power LED market

The demand from the mobile phone users for cameras providing high-quality image capture in dim light environments, such as night clubs and restaurants, has compelled smartphone manufacturers to include high power LEDs in a flash lighting module. Often the light available for taking photographs from mobile phones is insufficient, and hence, the use of flashlight units as an additional light source is essential. The conventional LEDs produce 6–7 lm (lumen), whereas high power LEDs can deliver more than 80 lm. The increased demand for smartphones will drive the high power LEDs in a flash lighting application.

High Power LED Market

Europe to account for a substantial share in high power LED market during the forecast period

With significant technological innovations taking place in it, Europe is an important region in the market. The UK, Germany, and France are key European countries that have been contributing significantly to the market. OSRAM, Lumileds, and Plessey Semiconductor are key high power LED manufacturing companies in this region. Germany, UK, and France together are expected to hold a significant share of the  market, with the general and automotive lighting applications offering numerous growth prospects to the market players.

Key Market Players

A few companies in the market are Cree (US), Nichia (Japan), OSRAM (Germany), Samsung (South Korea), Everlight (Taiwan), Lumileds (Netherlands), Epistar (Taiwan), LG Innotek (South Korea), Broadcom (US), MLS (China), and Seoul Semiconductor (South Korea). The other vital companies are Luckylight Electronics (China), Plessey Semiconductors (UK), Betlux Electronics (China), Effilux (France), Lite-On Technology (Taiwan), Crescent LED (UK), Vollong Electronics (China), and Stanley Electric (Switzerland).

Cree (US) is one of the leading manufacturers and marketers of lighting-class LEDs, lighting products, and products for power and RF applications. Majority of the products are manufactured at the production facilities located in North Carolina, Wisconsin, and China. To stay ahead in the competition, the company is engaged in various organic and inorganic growth strategies, such as product launches, agreements, and mergers and acquisitions.

Scope of the Report:

Report Metric

Details

Market size available for years

2016–2024

Base year

2018

Forecast period

2019–2024

Units

Value, USD

Segments covered

Packaging Type, Application, and Region

Geographic regions covered

North America, APAC, Europe, and RoW

Companies covered

Cree (US), Nichia (Japan), OSRAM (Germany), Samsung (South Korea), Everlight (Taiwan), Lumileds (Netherlands), Epistar (Taiwan), LG Innotek (South Korea), Broadcom (US), MLS (China), Seoul Semiconductor (South Korea), Luckylight Electronics (China), Plessey Semiconductors (UK), Betlux Electronics (China), Effilux (France), Lite-On Technology (Taiwan), Crescent LED (UK), Vollong Electronics (China), and Stanley Electric (Switzerland)

This report categorizes the market based on packaging type, application, and region.

High power LED Market, by Response Time:

  • Flip Chip
  • Mesa
  • Vertical

High power LED Market, by Application:

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

High power LED Market, by Region:

  • North America
    • US
    • Canada & Mexico
  • Europe
    • Germany
    • France
    • UK
    • Rest of Europe
  • APAC
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • RoW
    • Middle East & Africa
    • South America

Recent Developments

  • In May 2019, Lumileds announced new additions to its LUXEON CoB LED family, specifically to the LUXEON CoB Core Range and the LUXEON CoB with CrispWhite Technology.
  • In November 2018, Lumileds and Melexis announced a breakthrough in the high-frequency operation of high-power infrared LEDs. Engineers from Lumileds and Melexis have demonstrated the operation of up to 40MHz LUXEON IR LEDs, enabling time-of-flight applications in 940nm and 850nm, with a range of 3 m. This breakthrough in the high-frequency operation of LUXEON IR extends the applications of LEDs to new TOF applications, which were earlier limited by cost or eye-safety constraints. This development will help bring affordable and eye-safe distance measurements to a much broader range of products, such as driver monitoring systems, logistics navigation, gesture recognition systems, and drones.
  • In May 2018, Samsung Electronics launched LED component solutions that have been optimized for horticulture lighting. The company’s new horticulture LED lineup features a newly developed red LED package, as well as additions to key existing Samsung white,  LED package and module families to include horticulture lighting specifications.
  • In April 2018, Osram Opto Semiconductors announced the addition to its Oslon Black family for the infrared range with six new automotive IREDs. The 850 nm versions are intended for exterior applications such as night vision, pedestrian protection, pre-field recognition, and lane detection. The new 940 nm versions are suitable above all for interior automotive applications, such as driver monitoring, seat occupancy detection, and gesture recognition. On the back of different wavelengths and lenses, these products cover a wide range of customer requirements and can be operated at up to 5 A in pulsed mode.
  • In February 2018, Nichia launched ultrahigh CRI white LED named Optisolis, which is considered as the beginning of a new white LED. Optisolis achieves ultrahigh CRI with a spectrum that demonstrates the closest match to that of the standard illuminant.

Key questions addressed by the report:

  • Which are the major applications in the market? How big is the opportunity for their growth in the developing economies in the next five years?
  • Which are the major companies in the market? What are their strategies to strengthen their market presence?
  • Will the growth of smart lighting, and the use of energy-efficient systems help drive the implementation of high power LED in the general lighting applications?
  • Which are the leading countries in the market? What would be the share of North America and Europe in this market for the next five years?
  • What will be the role of the standards and regulations by governments and associations in the adoption of high power LED?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 16)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 High Power LED Market, 2019–2024 (USD Billion)
    4.2 Market in APAC, By Application and Country
    4.3 Market: Developed vs Developing Markets, 2019 and 2024 (USD Billion)
    4.4 Geographic Analysis of Market, 2019–2024
    4.5 Market, By Application (USD Billion)

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Long Life and Continuous Usage
                    5.2.1.2 Small Size, Less Power Consumption, and Low Voltage
                    5.2.1.3 Increasing High Brightness LED Applications
           5.2.2 Restraints
                    5.2.2.1 High Initial Cost
           5.2.3 Opportunities
                    5.2.3.1 Increased Demand for Smart Lighting Systems
                    5.2.3.2 Increased Awareness Regarding Implementation of Energy-Efficient Systems
           5.2.4 Challenge
                    5.2.4.1 Overcoming the Thermal Problems
    5.3 Value Chain Analysis

6 High Power LED Market, By Packaging Type (Page No. - 36)
    6.1 Introduction
    6.2 Mesa
           6.2.1 Mesa Packaging Being Common LED Packaging Type is Key Factor Contributing to Its High Adoption
    6.3 Flip Chip
           6.3.1 Wireless Bonding Technology, Enhanced Durability, Heat Dissipation, and Superior Light Performance Fuel Growth of Market for Flip Chip LED Packaging
    6.4 Vertical
           6.4.1 Use of Vertical Packaging in High and Super High Power Applications is Major Driver for Growth of Market for Vertical Packaged High Power LEDs

7 High Power LED Market, By Application (Page No. - 39)
    7.1 Introduction
    7.2 Automotive
           7.2.1 Use of High Power LEDs in Automotive Exterior Lighting is Major Driver for Growth of Market for Automotive
    7.3 General Lighting
           7.3.1 Increased Use of High Power LEDs in Street and Roadway Lighting to Drive Growth of Market for General Lighting
    7.4 Backlighting
           7.4.1 Increased Use High Power LEDs in Display Backlighting to Drive Market Growth for Backlighting
    7.5 Flash Lighting
           7.5.1 Increased Demand for High Power LEDs in Smartphones to Drive Growth of Market for Flash Lighting
    7.6 Others
           7.6.1 Use of High Power LEDs in Traffic Signals and Signs to Boost Growth of Market for Other Applications

8 Market, By Geography (Page No. - 53)
    8.1 Introduction
    8.2 North America
           8.2.1 US
                    8.2.1.1 Increased Focus on Energy-Efficient Systems in US to Drive Market
           8.2.2 Canada & Mexico
                    8.2.2.1 Increasing Investment in Smart Lighting to Fuel Growth of Market in Canada and Mexico
    8.3 Europe
           8.3.1 UK
                    8.3.1.1 Continuous Focus of the Government on Improved Lighting Systems to Drive Growth of Market in UK
           8.3.2 Germany
                    8.3.2.1 Continued Innovation and High Adoption of High Power LEDs in Automotive Expected to Drive Market in Germany
           8.3.3 France
                    8.3.3.1 Increasing Demand for High Power LEDs in General Lighting and Automotive to Drive Growth of Market in France
           8.3.4 Rest of Europe
                    8.3.4.1 Spain, Italy, Poland, Finland, Sweden, Belgium, the Netherlands, Switzerland, and Austria are Major Contributors to Market in Rest of Europe
    8.4 Asia Pacific
           8.4.1 China
                    8.4.1.1 Presence of Several Manufacturers of High Power LEDs to Drive Growth of Market in China
           8.4.2 Japan
                    8.4.2.1 Presence of Major Automotive Players in Japan to Fuel Growth of Market
           8.4.3 South Korea
                    8.4.3.1 Presence of Major Smartphone, Automotive, and Display Manufacturers in South Korea Would Encourage Adoption of High Power LEDs
           8.4.4 Rest of APAC
                    8.4.4.1 Countries Such as India, Singapore, Taiwan, and Australia to Drive Growth of Market in Rest of APAC
    8.5 Rest of the World
           8.5.1 Middle East and Africa
                    8.5.1.1 Smart Lighting to Fuel Growth of Market in Middle East and Africa
           8.5.2 South America
                    8.5.2.1 Rising Need for Reducing Energy Costs to Boost Growth of Market in South America

9 Competitive Landscape (Page No. - 68)
    9.1 Introduction
    9.2 Ranking of Market Players
    9.3 Competitive Scenario
           9.3.1 Product Launches and Developments
           9.3.2 Partnership, Agreement, Expansion, & Acquisition
    9.4 Competitive Leadership Mapping
           9.4.1 Visionary Leaders
           9.4.2 Dynamic Differentiators
           9.4.3 Innovators
           9.4.4 Emerging Companies

10 Company Profiles (Page No. - 73)
     10.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     10.2 Key Players
             10.2.1 Cree
             10.2.2 Nichia
             10.2.3 OSRAM Opto Semiconductors
             10.2.4 Samsung Electronics
             10.2.5 Lumileds
             10.2.6 Everlight Electronics
             10.2.7 Epistar
             10.2.8 Seoul Semiconductor
             10.2.9 LG Innotek
             10.2.10 Broadcom
             10.2.11 MLS Co. Ltd.
     10.3 Other Key Players
             10.3.1 Luckylight Electronics
             10.3.2 Plessey Semiconductors
             10.3.3 Betlux Electronics
             10.3.4 Effilux
     10.4 Key Innovators
             10.4.1 Lite-On Technology
             10.4.2 Crescent LED
             10.4.3 Vollong Electronics
             10.4.4 Stanley Electric

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 104)
     11.1 Insights of Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (39 Tables)

Table 1 High Power LED Market, By Packaging Type, 2016–2024 (USD Billion)
Table 2 Market, By Application, 2016–2024 (USD Billion)
Table 3 Market for Automotive, By Region, 2016–2024 (USD Million)
Table 4 Market for Automotive in APAC, By Country, 2016–2024 (USD Million)
Table 5 Market for Automotive in North America, By Country, 2016–2024 (USD Million)
Table 6 Market for Automotive in Europe, By Country, 2016–2024 (USD Million)
Table 7 Market for Automotive in RoW, By Region, 2016–2024 (USD Million)
Table 8 Market for General Lighting, By Region, 2016–2024 (USD Million)
Table 9 Market for General Lighting in APAC, By Country, 2016–2024 (USD Million)
Table 10 Market for General Lighting in North America, By Country, 2016–2024 (USD Million)
Table 11 Market for General Lighting in Europe, By Country, 2016–2024 (USD Million)
Table 12 Market for General Lighting in RoW, By Region, 2016–2024 (USD Million)
Table 13 Market for Backlighting, By Region,2016–2024 (USD Million)
Table 14 Market for Backlighting in APAC, By Country, 2016–2024 (USD Million)
Table 15 Market for Backlighting in North America, By Country, 2016–2024 (USD Million)
Table 16 Market for Backlighting in Europe, By Country, 2016–2024 (USD Million)
Table 17 Market for Backlighting in RoW, By Region, 2016–2024 (USD Million)
Table 18 Market for Flash Lighting, By Region,2016–2024 (USD Million)
Table 19 Market for Flash Lighting in APAC, By Country, 2016–2024 (USD Million)
Table 20 Market for Flash Lighting in North America, By Country, 2016–2024 (USD Million)
Table 21 Market for Flash Lighting in Europe, By Country, 2016–2024 (USD Million)
Table 22 Market for Flash Lighting in RoW, By Region, 2016–2024 (USD Million)
Table 23 Market for Others, By Region, 2016–2024 (USD Million)
Table 24 Market for Others in APAC, By Country,2016–2024 (USD Million)
Table 25 Market for Others in North America, By Country, 2016–2024 (USD Million)
Table 26 Market for Others in Europe, By Country, 2016–2024 (USD Million)
Table 27 Market for Others in RoW, By Region, 2016–2024 (USD Million)
Table 28 Market, By Region, 2016–2024 (USD Million)
Table 29 Market in North America, By Application, 2016–2024 (USD Million)
Table 30 Market in North America, By Country, 2016–2024 (USD Million)
Table 31 Market in Europe, By Application, 2016–2024 (USD Million)
Table 32 Market in Europe, By Country, 2016–2024 (USD Million)
Table 33 Market in APAC, By Application, 2016–2024 (USD Million)
Table 34 Market in APAC, By Country, 2016–2024 (USD Million)
Table 35 Market in RoW, By Application, 2016–2024 (USD Million)
Table 36 Market in RoW, By Region, 2016–2024 (USD Million)
Table 37 Ranking of Top 5 Players in Market
Table 38 Product Launches and Developments: Market, 2017–2019
Table 39 Partnership, Agreement, Expansion & Acquisition: Market, 2015–2018


List of Figures (33 Figures)

Figure 1 Market Segmentation
Figure 2 Market: Research Design
Figure 3 Bottom-Up Approach to Arrive at Market Size
Figure 4 Top-Down Approach to Arrive at Market Size
Figure 5 Data Triangulation Methodology
Figure 6 Market, 2016–2024 (USD Billion)
Figure 7 Market, By Packaging Type, 2019 vs 2024
Figure 8 General Lighting Held Largest Size of Market in 2018
Figure 9 APAC Held Largest Share of Market in 2018
Figure 10 APAC Expected to Be Largest Shareholder in Market for General Lighting By 2019
Figure 11 Attractive Market Opportunities for Market
Figure 12 China and General Lighting to Be Largest Shareholders in Market in APAC By 2024
Figure 13 US to Register Highest CAGR in Market During 2019–2024
Figure 14 US and Canada to Witness High CAGR in Market From 2019 to 2024
Figure 15 General Lighting Application Expected to Dominate Market During Forecast Period
Figure 16 Increasing High Brightness Applications Drive Growth of Market
Figure 17 Value Chain Analysis (2018): Major Value Added During Research and Product Development, and Manufacturing Stages
Figure 18 Flip Chip Packaging to Lead Market During Forecast Period
Figure 19 General Lighting to Hold Largest Size of Market During Forecast Period
Figure 20 Geographic Snapshot: Market in North America to Witness Highest Growth During Forecast Period
Figure 21 China to Hold Largest Size of Market By 2024
Figure 22 North America: HMarket Snapshot
Figure 23 Europe: Snapshot of Market
Figure 24 APAC: Snapshot of Market
Figure 25 Companies Adopted Product Launches and Developments as Key Growth Strategies During 2015–2018
Figure 26 Cree: Company Snapshot
Figure 27 Nichia: Company Snapshot
Figure 28 OSRAM Licht: Company Snapshot
Figure 29 Samsung Electronics: Company Snapshot
Figure 30 Epistar: Company Snapshot
Figure 31 Seoul Semiconductor: Company Snapshot
Figure 32 LG Innotek: Company Snapshot 2017
Figure 33 Broadcom: Company Snapshot 2017

The study involved four major activities in estimating the current size of the high power LED market. Exhaustive secondary research has been conducted to collect information about the market, the peer market, and the parent market. Validating findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

The research methodology used to estimate and forecast the high power LED market begins with capturing data on revenues of the key vendors in the market through secondary research. This study involves the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for the technical and commercial study of the market. Vendor offerings have also been considered to determine the market segmentation. This entire research methodology includes the study of annual and financial reports of top players, presentations, press releases, journals, paid databases, trade directories, regulatory bodies, and safety standard organizations.

Primary Research

The high power LED market comprises several stakeholders, such as suppliers, system integrators, suppliers of standard components, and original equipment manufacturers (OEMs) in the supply chain. The demand side of this market is characterized by the development of general lighting, automotive, flash lighting, backlighting, and other applications such as traffic signals and signs. The supply side is characterized by advancements in packages of high power LED and its applications. Various primary sources from the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents.

High Power LED Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the overall size of the high power LED market. These methods have also been used extensively to estimate the size of various market subsegments. The research methodology used to estimate the market size includes the following:

  • Key players in major applications and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
  • Data Triangulation

After arriving at the overall market size using the estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends from both demand and supply sides in the general lighting, automotive, flash lighting, backlighting, and other applications such as traffic signals and signs.

Report Objectives

  • To define, describe, and forecast the high power LED market, in terms of value, based on packaging type, application, and geography
  • To forecast the size of the market for various segments with regard to four main regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micro-markets with regard to individual growth trends, prospects, and contributions to the total market
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments in the high power LED market
  • To analyze growth strategies such as acquisition, partnership, product launches & developments, expansion, and agreement of the key players in the high power LED market
  • To strategically profile key players, comprehensively analyze their core competencies, and describe the competitive landscape of the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix that gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 7223
Published ON
Jul, 2019
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