High Power LED Market Overview, Driving Factors, Segments and Forecast 2027

The global High power LED market has been experiencing a considerable transition in its business dynamics. Various characteristics of high-power LEDs, such as long life, compact size, less consumption of power, and high brightness, are boosting the demand for these LEDs across the world.

This research report presents an in-depth analysis of the global High power LED market, taking the key trends, market segmentation, and its future prospects in consideration. It also offers a deep insight into the market dynamics, in order to understand the status of the worldwide High power LED market over the period of 2019 – 2027.

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Global High Power LED Market: Notable Developments

The global High power LED market displays a highly competitive and fragmented business landscape. Cree, Samsung, OSRAM, Lumileds, LG Innotek, MLS, and Seoul Semiconductor are leading this market. These players are putting in considerable efforts in innovation and product development to compete with each other. Moving forward, they will be involved more in strategic partnerships with smaller players to strengthen their position in the global high power LED market in the years to come. They are also looking forward to expand their bases across developing countries in the near future.

Let’s have look at notables developments happened in this market in the recent past:

Recently, Lumileds made an announcement relating to the novel additions to its LUXEON CoB LED product line, specially to the LUXEON CoB range and the LUXEON CoB Core range. The company is focusing on expanding its portfolio to strengthen its market presence. Previously, Lumileds, in partnership with Melexis, achieved a breakthrough in the operation of high power infrared LEDs. A team of researchers from Melexis and Lumileds demonstrated an operation of LUXEON IR LEDs of up to 40MHz. This development in the high-frequency operation of LUXEON IR expands the range of application of LEDs, which were previously limited by eye-safety or cost constraints.

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Global High Power LED Market: Market Dynamics

With the significant rise in environmental concerns among consumers, the uptake of LED lights will increase in buildings, leading to a high growth in the global high-power LED market. The ongoing expansion in the general lighting industry is also reflecting on the demand for high power LED lights. However, the availability of cheaper LED lights, especially manufactured by Chinese manufacturers, may hamper the demand for high power LEDs in the years to come. Nonetheless, the eco-friendliness of high power LEDs, as they do not contain mercury, which is quite hazardous, will normalize the impact of restraining factors and lead to a high-paced growth of the worldwide high power LED market in the next couple of years.

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Europe to Lead Global High Power LED Market

North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa have surfaced as the main categories of the worldwide high-power LED market, in terms of the region. With a significant number of research activities taking place and increasing investments by players, Europe has been leading the global market. The current market scenario points towards the continued dominance of Europe over the global high-power LED market in the forthcoming years.

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.