LED Packaging Market

Market Leader - LED Packaging Market

The LED packaging market is projected to grow from USD 17.6 billion in 2021 to USD 22.1 billion by 2026; it is expected to grow at a CAGR of 4.6% from 2021 to 2026. The key factors fueling the growth of this market include surged demand for LED packages in display panel market, risen demand for IoT-enabled lighting fixtures and smart lighting solutions, and recent government initiatives and regulations promoting use of LEDs for energy efficiency and environmental benefits. Moreover, increased demand for disinfection systems amid COVID-19 to drive demand for efficient UV LED packages.

The LED packaging market is dominated by key global established players such as Nichia (Japan), OSRAM (Germany), Lumileds (Netherlands), Seoul Semiconductor (South Korea), Samsung (South Korea), MLS (China), EVERLIGHT (Taiwan), Cree (US), NationStar (China), and LITE-ON (Taiwan). These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, agreements, collaborations, contracts, joint ventures, expansions, and mergers and acquisitions to strengthen their position in the market.

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

Nichia (Japan) held the majority of the global LED packaging market share in 2020. The company has an expertise in providing high brightness Blue LED used in the production of backlight panels and automotive headlights. The company is well acknowledged among leading luminaire manufacturers of the world, which helped the company record high sales in the year 2020. OSRAM (Germany) followed in second place with a wide product portfolio of low-, mid-, and high-power LED packages that caters to a large number of luminaire manufacturers. Surged adoption of CSP LEDs in automotive lighting applications and development of human-centric lighting solutions and horticulture lights has led to the market growth of these companies.

Nichia (Japan) is a leader in the LED packaging market. The company is primarily involved in the manufacturing and distribution of LEDs, with in-house R&D and manufacturing capabilities for LED packages. Nichia is a world leader in the field of development of fine chemicals, particularly inorganic luminescent materials (phosphors) and high brightness Blue LED. Nichia focuses on forming industry alliances with the leading vendors in the LED packaging market for attaining overall sustainable development. In line with this, in March 2018, Nichia and OSRAM entered into a patent cross license agreement that allows both companies to use each other’s patents licensed under the respective agreement in Nichia’s nitride-based semiconductor products such as blue, green, and white LED and laser components. The agreement is expected to benefit both companies with new product development in emerging application areas for optoelectronics.

Another important player in the LED packaging market is OSRAM (Germany). Its strong network of channel partners and distributors has strengthened its reach across the globe. In terms of growth strategies, OSRAM has strongly focused on enhancing its product portfolio in the form of product innovations in the LED packaging market. By adopting a strategy of reorganizing business segments, acquiring new businesses for expansion, and eliminating underperforming businesses, the company seeks to target business-to-business (B2B) and semiconductor markets, where there is a scope to earn higher profit margins. For instance, in June 2017, OSRAM acquired LED Engin, a US company which specializes in ultra-bright, ultra-compact solid-state lighting solutions for various specialty applications including entertainment lighting, ultraviolet, and horticulture, tunable white and medical lighting. This acquisition provides opportunities for the company to offer specialty lighting solutions tailored for its customers.

Other major players in the LED packaging market are mainly focusing on expanding their regional presence and new product launches to achieve continuous and sustainable development.

Related Reports:

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

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 5858
RI Published ON
1/25/2021
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the LED Packaging Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved