How is Growing Adoption of Energy-Efficient Lighting Solutions Driving High-Power LED Market?

As per a research conducted by P&S Intelligence, in 2018, the global high-power LED market reached a value of $12,647.2 million and is expected to advance at a 5.3% CAGR in the near future. LEDs come in four power ranges: 1–2.9 W, 3–4.9 W, 5–10 W, and >10 W. Out of these, 3–4.9 W LEDs were sold the most in 2018, and the category is further expected to retain is position in the coming years. 

The reason for this is that these LEDs are witnessing a large-scale adoption in several applications. Most commonly they are utilized in outdoor and indoor lighting systems in industrial, residential, and commercial areas, such as retail display lighting, architectural lighting, and channel lighting. 

Since high power LEDs have numerous benefits, their applications are wide as well. The high power LED market is categorized into backlighting, automotive, signs & signals, general lighting, and others (which include ultraviolet LEDs, camera flash lighting, and infrared emitter). 

Among all these, the largest demand for high power LEDs was created for the application of general lighting in 2018 due to the rising sales of downlight, area light, spotlight, tunnel light, and industrial light. The fastest growth in demand for high-power LED lighting solutions is projected to be witnessed by the application of backlighting in the coming years. 

In this application, high-power LEDs are utilized in monitors, tablets, gaming devices, status indicators, televisions, laptops, mobiles, and channel letter lighting.

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The high-power LED market has a large number of global and regional players. Some of the major players in the market include Osram Licht AG, Cree Inc., Nichia Corporation, Seoul Semiconductor Co. Ltd., Samsung Electronics Co. Ltd., Everlight Electronics Co. Ltd., MLS Co. Ltd., Lumileds Holding B.V., LG Innotek Co. Ltd., Epistar Corporation, and Broadcom Inc. In order to maintain their stronghold on the market, these companies are adopting product launches as a key strategy.