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Global LED Market Expected to Grow at a Healthy Pace During 2024-2032, Driven by the Rising Demand for Energy-Efficient Lights

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Global LED Market Size, Share, Trends, Analysis, Forecast: By Type: Pinned LED, Surface Mount LED (SMD LED), Chip on Board LED; By Technology: Basic LED, Micro LED, High Brightness LED, OLED, Ultra Violet LED, Polymer LED, By Application: Lighting, Automotive, Electronic Devices, Others; Regional Analysis; Competitive Landscape; 2024-2032

LED Market Analysis

The market has experienced robust growth over the years, driven by factors such as energy efficiency, longer lifespan, environmental concerns, and technological advancements. LED lighting has become a dominant lighting technology in many applications.

LEDs are used in a wide range of applications, including general lighting (residential, commercial, industrial), automotive lighting, displays (TVs, monitors, signage), outdoor and street lighting, horticultural lighting, and more. Additionally, ongoing research and development efforts have led to improvements in LED technology, resulting in higher brightness levels, better colour accuracy, increased efficiency, and reduced production costs. Many countries have implemented energy efficiency regulations that encourage the adoption of LEDs.

LED Market Report Snapshots

LED Market Size

LED Market Analysis

LED Companies

LED Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Industry Opportunities and Challenges
8   Global LED Market Analysis
   8.1   Key Industry Highlights
   8.2   Global LED Historical Market (2018-2023)
   8.3   Global LED Market Forecast (2024-2032)
   8.4   Global LED Market by Type
       8.4.1   Pinned LED
           8.4.1.1   Market Share
           8.4.1.2   Historical Trend (2018-2023)
           8.4.1.3   Forecast Trend (2024-2032)
       8.4.2   Surface Mount LED (SMD LED)
           8.4.2.1   Market Share
           8.4.2.2   Historical Trend (2018-2023)
           8.4.2.3   Forecast Trend (2024-2032)
       8.4.3   Chip on Board LED
           8.4.3.1   Market Share
           8.4.3.2   Historical Trend (2018-2023)
           8.4.3.3   Forecast Trend (2024-2032)
       8.4.4   Others
   8.5   Global LED Market by Technology
       8.5.1   Basic LED
           8.5.1.1   Market Share
           8.5.1.2   Historical Trend (2018-2023)
           8.5.1.3   Forecast Trend (2024-2032)
       8.5.2   Micro LED
           8.5.2.1   Market Share
           8.5.2.2   Historical Trend (2018-2023)
           8.5.2.3   Forecast Trend (2024-2032)
       8.5.3   High Brightness LED
           8.5.3.1   Market Share
           8.5.3.2   Historical Trend (2018-2023)
           8.5.3.3   Forecast Trend (2024-2032)
       8.5.4   OLED
           8.5.4.1   Market Share
           8.5.4.2   Historical Trend (2018-2023)
           8.5.4.3   Forecast Trend (2024-2032)
       8.5.5   Ultra Violet LED
           8.5.5.1   Market Share
           8.5.5.2   Historical Trend (2018-2023)
           8.5.5.3   Forecast Trend (2024-2032)
       8.5.6   Polymer LED
           8.5.6.1   Market Share
           8.5.6.2   Historical Trend (2018-2023)
           8.5.6.3   Forecast Trend (2024-2032)
       8.5.7   Others
   8.6   Global LED Market by Application
       8.6.1   Lighting
           8.6.1.1   Market Share
           8.6.1.2   Historical Trend (2018-2023)
           8.6.1.3   Forecast Trend (2024-2032)
       8.6.2   Automotive
           8.6.2.1   Market Share
           8.6.2.2   Historical Trend (2018-2023)
           8.6.2.3   Forecast Trend (2024-2032)
       8.6.3   Electronic Devices
           8.6.3.1   Market Share
           8.6.3.2   Historical Trend (2018-2023)
           8.6.3.3   Forecast Trend (2024-2032)
       8.6.4   Signal and Signage
           8.6.4.1   Market Share
           8.6.4.2   Historical Trend (2018-2023)
           8.6.4.3   Forecast Trend (2024-2032)
       8.6.5   Others
   8.7   Global LED Market by Region
       8.7.1   Market Share
           8.7.1.1   North America
           8.7.1.2   Europe
           8.7.1.3   Asia Pacific
           8.7.1.4   Latin America
           8.7.1.5   Middle East and Africa
9   Regional Analysis
   9.1   North America
       9.1.1   Historical Trend (2018-2023)
       9.1.2   Forecast Trend (2024-2032)
       9.1.3   Breakup by Country
           9.1.3.1   United States of America
           9.1.3.2   Canada
   9.2   Europe
       9.2.1   Historical Trend (2018-2023)
       9.2.2   Forecast Trend (2024-2032)
       9.2.3   Breakup by Country
           9.2.3.1   United Kingdom
           9.2.3.2   Germany
           9.2.3.3   France
           9.2.3.4   Italy
           9.2.3.5   Others
   9.3   Asia Pacific
       9.3.1   Historical Trend (2018-2023)
       9.3.2   Forecast Trend (2024-2032)
       9.3.3   Breakup by Country
           9.3.3.1   China
           9.3.3.2   Japan
           9.3.3.3   India
           9.3.3.4   Australia
           9.3.3.5   Others
   9.4   Latin America
       9.4.1   Historical Trend (2018-2023)
       9.4.2   Forecast Trend (2024-2032)
       9.4.3   Breakup by Country
           9.4.3.1   Brazil
           9.4.3.2   Argentina
           9.4.3.3   Mexico
           9.4.3.4   Others
   9.5   Middle East and Africa
       9.5.1   Historical Trend (2018-2023)
       9.5.2   Forecast Trend (2024-2032)
       9.5.3   Breakup by Country
           9.5.3.1   Saudi Arabia
           9.5.3.2   United Arab Emirates
           9.5.3.3   Nigeria
           9.5.3.4   South Africa
           9.5.3.5   Others
10   Market Dynamics
   10.1   SWOT Analysis
       10.1.1   Strengths
       10.1.2   Weaknesses
       10.1.3   Opportunities
       10.1.4   Threats
   10.2   Porter’s Five Forces Analysis
       10.2.1   Supplier’s Power
       10.2.2   Buyers Power
       10.2.3   Threat of New Entrants
       10.2.4   Degree of Rivalry
       10.2.5   Threat of Substitutes
   10.3   Key Indicators for Demand
   10.4   Key Indicators for Price
11   Value Chain Analysis
12   Competitive Landscape
   12.1   Market Structure
   12.2   Company Profiles
       12.2.1   OSRAM Licht AG
           12.2.1.1   Company Overview
           12.2.1.2   Product Portfolio
           12.2.1.3   Demographic Reach and Achievements
           12.2.1.4   Certifications
       12.2.2   Nichia Corporation
           12.2.2.1   Company Overview
           12.2.2.2   Product Portfolio
           12.2.2.3   Demographic Reach and Achievements
           12.2.2.4   Certifications
       12.2.3   Signify N.V.
           12.2.3.1   Company Overview
           12.2.3.2   Product Portfolio
           12.2.3.3   Demographic Reach and Achievements
           12.2.3.4   Certifications
       12.2.4   Lumileds Holding B.V.
           12.2.4.1   Company Overview
           12.2.4.2   Product Portfolio
           12.2.4.3   Demographic Reach and Achievements
           12.2.4.4   Certifications
       12.2.5   Seoul Semiconductor Co Ltd
           12.2.5.1   Company Overview
           12.2.5.2   Product Portfolio
           12.2.5.3   Demographic Reach and Achievements
           12.2.5.4   Certifications
       12.2.6   LG Electronics Inc.
           12.2.6.1   Company Overview
           12.2.6.2   Product Portfolio
           12.2.6.3   Demographic Reach and Achievements
           12.2.6.4   Certifications
       12.2.7   Samsung Electronics Co. Ltd.
           12.2.7.1   Company Overview
           12.2.7.2   Product Portfolio
           12.2.7.3   Demographic Reach and Achievements
           12.2.7.4   Certifications
       12.2.8   PlayNitride Inc.
           12.2.8.1   Company Overview
           12.2.8.2   Product Portfolio
           12.2.8.3   Demographic Reach and Achievements
           12.2.8.4   Certifications
       12.2.9   Cambridge Display Technology Limited.
           12.2.9.1   Company Overview
           12.2.9.2   Product Portfolio
           12.2.9.3   Demographic Reach and Achievements
           12.2.9.4   Certifications
       12.2.10   Others
13   New Technologies
14   Industry Events and Developments

List of Key Figures and Tables

1.   Global LED Market: Key Industry Highlights, 2018 and 2032
2.   Global LED Historical Market: Breakup by Type (USD Billion), 2018-2023
3.   Global LED Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.   Global LED Historical Market: Breakup by Technology (USD Billion), 2018-2023
5.   Global LED Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6.   Global LED Historical Market: Breakup by Application (USD Billion), 2018-2023
7.   Global LED Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.   Global LED Historical Market: Breakup by Region (USD Billion), 2018-2023
9.   Global LED Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.   North America LED Historical Market: Breakup by Country (USD Billion), 2018-2023
11.   North America LED Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.   Europe LED Historical Market: Breakup by Country (USD Billion), 2018-2023
13.   Europe LED Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.   Asia Pacific LED Historical Market: Breakup by Country (USD Billion), 2018-2023
15.   Asia Pacific LED Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.   Latin America LED Historical Market: Breakup by Country (USD Billion), 2018-2023
17.   Latin America LED Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.   Middle East and Africa LED Historical Market: Breakup by Country (USD Billion), 2018-2023
19.   Middle East and Africa LED Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.   Global LED Market Structure

Key Questions Answered in the Report

What was the global LED market size in 2023?

In 2023, the global LED market attained a value of nearly USD 74.06 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 11.8% between 2024 and 2032.

What are the major industry drivers?

The major industry drivers include the growing demand for electronics devices, adoption of signals and signages from various companies, institutions, or government, increasing focus by the government on energy saving solutions, expanding display and large screen backlighting market, and rising number of consumers preferring LEDs over conventional CFL and CCFL.

What are the key industry trends in the global LED market?

The key market trends guiding the growth of the industry include the easy visibility and attraction of the LED lights outside shops which enables the consumers to spot the new shop easily and various applications of LED lights in activities, such as photography, interior designing.

What are the major regional markets of global LED market, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Asia Pacific accounting for significant share in the market.

What are the various types of LEDs in the market?

Pinned LED, surface mount LED (SMD LED), and chip on board LED, among others are the types of LEDs in the market.

What are the technologies available in the market?

Basic LED, micro-LED, high brightness LED, OLED, ultra violet LED, and polymer LED, among others, are the technologies in which the industry can be segmented into.

What are the different applications of the product?

Lighting, automotive, electronic devices, signal and signage, among others are the different applications of the product.

Who are the key industry players, according to the report?

The major players in the industry are OSRAM Licht AG, Nichia Corporation, Signify N.V, Lumileds Holding B.V., Seoul Semiconductor Co Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., PlayNitride Inc., and Cambridge Display Technology Limited., among others.

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