Global High Power LED Market Expected to Witness a Growth with a CAGR of 5.3% Over the Forecast Period, 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 5, 2020--
The “High Power LED Market Research Report by Wattage, Application, Geographical Outlook - Global Industry Trends and Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The high-power light-emitting diode market is projected to generate $17,581.5 million in 2024, witnessing a 5.3% CAGR during the forecast period (2019-2024).
The key factors driving the market are the growing government support for the adoption of LED lights and increasing adoption of energy-efficient lighting solutions.
Among these, the automotive application is expected to grow at a CAGR of 5.4% during the forecast period. This is ascribed to the growing requirement for high-power LED lights in automotive interior and exterior applications, including position lights, ambient lighting, fog lights, headlights, and dashboard lights.
Geographically, Asia-Pacific (APAC) is projected to hold a considerable share of the high-power LED market during the forecast period. The primary reason for this is the rising adoption of these LED lights in general lighting applications, majorly in India and China.
Furthermore, various smart city projects are in their developmental phase in these countries, which are predicted to create a huge demand for high-power LED lights. For example, in 2012, China introduced a national smart city development project, which will utilize modern technology for building smart cities.
The governments have started focusing on saving energy, which is why the requirement for energy-efficient lighting solutions is increasing. This is further leading to the growth of the high-power LED market, since high-power LEDs are able to work efficiently for long periods of time and at low maintenance cost. Because of these advantages, the local authorities of several countries, including Australia, the U.S., China, and India, have introduced projects in order to replace their traditional lighting lamps, which are utilized in outdoor lighting, with LEDs.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Wattage
1.3.2 Market Segmentation by Application
1.3.3 Market Segmentation by Region
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
18.104.22.168 By region
22.214.171.124 By industry participant
126.96.36.199 By company type
2.3 Market Size Estimation
2.3.1 By Value
2.3.2 By Volume
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Wattage
188.8.131.52 1-2.9 W
184.108.40.206 3-4.9 W
220.127.116.11 5-10 W
18.104.22.168 >10 W
4.1.2 By Application
22.214.171.124 General lighting
126.96.36.199 Signs & signals
4.2 Value Chain Analysis
4.3 Market Dynamics
4.4 Porter’s Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Wattage
5.2 By Application
5.3 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Wattage
6.2 By Application
6.3 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Wattage
7.2 By Application
7.3 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Wattage
8.2 By Application
8.3 By Country
Chapter 9. LATAM Market Size and Forecast
9.1 By Wattage
9.2 By Application
9.3 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Wattage
10.2 By Application
10.3 By Country
Chapter 11. Competitive Landscape
11.1 List of Key Players and Offerings
11.2 Market Share Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Recent Activities of Key Market Players
11.5 Strategic Developments of Key Players
11.5.1 Product Launches
Chapter 12. Company Profiles
12.1 Cree Inc.
12.2 Nichia Corporation
12.3 Lumileds Holding B.V.
12.4 Osram Licht AG
12.5 Samsung Electronics Co. Ltd.
12.6 Everlight Electronics Co. Ltd.
12.7 Seoul Semiconductor Co. Ltd.
12.8 LG Innotek Co. Ltd.
12.9 Epistar Corporation
12.10 Broadcom Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tmuqae
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SOURCE: Research and Markets
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PUB: 02/05/2020 08:19 AM/DISC: 02/05/2020 08:19 AM