LED Packaging Market

LED Packaging Market worth $22.1 billion by 2026

The report "LED Packaging Market With COVID-19 Impact by Package Type (SMD, COB, CSP), Application (General Lighting, Automotive Lighting, Backlighting, Flash Lighting, Industrial), Wavelength, Power Range, and Region - Global Forecast to 2026", is estimated to be USD 22.1 billion by 2026 from USD 17.6 billion in 2021 at a CAGR of 4.6% between 2021 to 2026. The rise in awareness regarding the use of energy-efficient lighting for residential and commercial applications is expected to drive the demand for LEDs in the future and proportionately catalyze the demand for LED packages.

Browse 122 market data Tables and 58 Figures spread through 208 Pages and in-depth TOC on "LED Packaging Market With COVID-19 Impact by Package Type (SMD, COB, CSP), Application (General Lighting, Automotive Lighting, Backlighting, Flash Lighting, Industrial), Wavelength, Power Range, and Region - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/led-packaging-market-217522990.html

The global LED packaging market is fragmented owing to the presence of large number of international and local players including large players, small and medium-sized players, and start-ups. The major players in global LED packaging market Nichia (Japan), OSRAM (Germany), Lumileds (Netherlands), Seoul Semiconductor (South Korea), and Samsung (South Korea), MLS (China), EVERLIGHT (Taiwan), Cree (US), NationStar (China), and LITE-ON (Taiwan). Product launches and developments, partnerships, agreements, joint ventures, expansion, and mergers and acquisitions are a few major strategies adopted by companies to grow in the LED packaging market.

LED packaging market for backlighting application likely to hold second largest market share during the forecast period

Rising demand for high picture quality, attractive design, and high specification-based displays are driving the demand for LED backlight display panels. High brightness, attractive and thin panel design, and low power consumption are among the benefits offered by this technology over other available technologies. LED backlight displays are used for various indoor and outdoor applications. Backlighting can be used in a variety of applications such as LED backlighting displays and mobile devices. LED backlights may be of the direct type in which LED packages are positioned at the rear end of the display. These displays use LEDs for backlighting LCD display panels. LED-backlit LCD-based devices are used in the video wall format where super- or ultra-narrow bezel-based LCD display tiles are combined to form a large display. The large size of the backlighting market can be attributed to the growing demand for advanced display technologies such as micro-LED and quantum dot LED.

Chip-scale packages (CSPs) likely to be the biggest LED packaging trends by 2026

Chip-scale packages (CSPs) have become one of the biggest packaging trends in recent times. The surging adoption of CSP over standard SMD is mainly due to the advantages such as reduced package footprint, thin profile, low bill of materials, high lumen output, reduced weight as well as better electrical performance and area array distribution of connections. These features lead to the efficient utilization of the epitaxial manufacturing process. High-power CSP LEDs can be scaled down for high-output applications such as automotive where mid-powered conventional LEDs were used.

Companies are aggressively investing in research and development to bring energy-efficient chip-scale packages to the market. For instance, Samsung enhanced its chip-scale LED packages-LM101B, LH181B, and LH231B with the industry’s highest luminous efficacies. These enhanced LED packages are based on Samsung’s most recent chip-scale package technology, which builds TiO2 (Titanium dioxide) walls around the side surfaces of the chip to direct light output upwards. This technology provides considerably higher light efficacy than conventional chip-scale LED packages while offering greater flexibility for luminaire designers.

Market for deep UV LEDs to grow at significant rate during the forecast period

The market share for UV LEDs is considerably low owing to its niche application areas in sterilization, UV curing, and medical research. However, the market for these LEDs is expected to grow at a rapid rate during the forecast period due to the massive demand for these LEDs in medical facilities in the current global pandemic.

UV-C LEDs are expected to revolutionize the future of sterilization and disinfection. Companies are focusing on research and development and launching new LED packages based on the UV-C band. In line with this, Nichia is extending its UV-C LED offerings to a wide range of both SMD and COB LEDs. Also, recently, the company launched NCSU334A, a new 280nm UV-C LED available in a small form factor, designed to address mass market goals for water purification and air sterilization using solid-state lighting.

UV-C technology has found many valuable applications in disinfecting hospital rooms, aircraft, and drinking water in the current COVID-19 situation. Lighting Europe (Belgium), a regulatory body for the voice of lighting in Europe, recently in June 2020, gave access to manufacturers for the distribution of UV-C LED products to minimize the risk associated with the virus.

APAC likely to be the largest and fastest growing market for LED packaging during the forecast period

The large share of the LED packaging market in APAC can be attributed to the rapid infrastructure building activities being undertaken in APAC, mainly in China and India. Such activities demand energy efficiency, which is paving the way for the modernization of infrastructure. The modernization and development of infrastructure such as smart cities across the region would also drive the demand for smart street lighting, thereby driving the market for LED packages in this region. Favorable economic conditions and cheap labor costs in the region are the key factors strengthening the growth momentum of the market.

Most electronic manufacturers outsource production in segments such as semiconductor assembly to low-cost countries in this region. Taiwan, China, followed by south-east Asian countries are among major global market for semiconductor and component packaging. Additionally, it also has an extremely large and diverse electronic manufacturing industry, especially for consumer and automotive electronic products. China has the largest market for LED packaging in the APAC region.

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LED Packaging Market Size,  Share & Growth Report
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