Global LED Market to Reach US$ 128 Billion by 2025.

LEDs represent electronic components that can convert electric energy into light. They have today gained prominence across all the regions on account of their potential advantages over other lighting sources such as incandescent bulbs and CFLs. LEDs stay much cooler than incandescent lights, reducing the risk of combustion or burns. As they are made with epoxy lenses, they are highly resistant to breakage. Besides this, they are energy-efficient, long-lasting and easy to install.

With technological advancements, manufacturing efficiency and decline in the prices, the global market for LEDs has witnessed a strong growth over a period of time. According to a new report by Expert Market Research, the global LED market reached a value of US$ 75.3 Billion in 2019 and is further expected to reach US$ 128 Billion by 2024. Owing to the growing environmental concerns and increasing expenses on electricity generation, governments’ regulations have become more stringent, encouraging the penetration of energy-efficient light sources like LED lights. Moreover, a rising demand for LEDs in high-tech products such as flat TVs, digital cameras, smart phones and automotives has also propelled the growth aspects of the LED market.

Key findings from the report:

• The two lighting products are LED lamps and modules, and LED fixtures.
• The major end-uses of LED lights are in retrofit, retail and hospitality, outdoor, office, architectural, homes, industry and others. In 2018, retrofit was the biggest end-use sector with a share of more than a third of the global market. It was followed by retail and hospitality, outdoor, offices, architectural, homes, industry and others.
• Region-wise, China dominated the market with a share of more than one-fifth of the global LED market. It was followed by Europe, North America, Asia-Pacific, Japan, Middle East & Africa and Latin America.
• Being fragmented in nature, the global LED market is surrounded by a number of small and big players. In 2019, Nichia was the biggest player in the market with a share of nearly a fifth of the total LED sales. It was followed by Osram, Samsung Electronics, Everlight Electronics, LG Innotek, Epistar, Seoul Semiconductor, Cree, Lumileds, Mulinsen and others.

Expert Market Research has analysed the global LED market according to lighting product, end-use, major regions and top players:

Market breakup by Lighting Product

• LED Lamps and Modules
• LED Fixtures

Market breakup by End-use

• Retrofit
• Retail and Hospitality
• Outdoor
• Office
• Architectural
• Homes
• Industry
• Others

Market breakup by Region

• China
• Europe
• North America
• Asia Pacific
• Middle East and Africa
• Latin America

Top players

• Nichia
• Osram
• Samsung Electronics
• Everlight Electronics
• LG Innotek
• Epistar
• Seoul Semiconductor
• Cree
• Lumileds
• Mulinsen

About Us

Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.

With a keen focus on the qualitative aspect as well as accuracy of the reports, we align our resources and services as per the client’s requirement and offer a flexible engagement model that best suits their needs. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical & Materials, Energy & Mining, Packaging and Agriculture.

Contact Us

Expert Market Research
Website: www.expertmarketresearch.com
Email:sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790