LED Modules and Light Engines Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global LED Modules And Light Engines Is Expected To Grow At A CAGR Of 11.2% From 2022 To 2032, Totaling Approximately USD 115,729.3 Million By 2032.
LED Modules and Light Engines Market Overview:
LED modules and light engines are important because they generate the light emitted from LED lamps. They consist of a circuit board with one or more LEDs, optics to guide the light, and thermal management. The optics may be in the form of reflectors, lenses or diffusers. Thermal management dissipates heat so the LEDs don't overheat. The light engine is the part of the LED module that controls the light output. It can be a controller, driver or converter. The controller is used to set the brightness and color of the LED. The driver converts the electrical signal into optical power, causing the LED to emit light.
LED Modules and Light Engines market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global LED Modules and Light Engines market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Major Market Segments Covered in LED Modules and Light Engines Industry Research:
Market Key Players:
Philips Lighting, Fusion Optix, Tridonic, OSRAM Licht Group, Thomas Research Products, Fulham, Zlight Technology, General Electric Company, MaxLite, RS Components, SORAA, Zhaga Consortium, And Others.
- Flexible, Rigid
- Residential, Commercial, Industrial, Others
The Asia Pacific market holds the largest share in terms of revenue with more than 40% and is projected to grow at a CAGR of over 10% from 2022 to 2030. This growth can be attributed to rising energy demand coupled with rapidly growing Urbanization and industrialization. Moreover, rising levels of disposable income are expected to spur demand in countries such as China, India, and Indonesia.
The Europe LED module market was valued at over USD 1.0 billion in 2017 owing to stringent government regulations on carbon emissions and growing adoption of LEDs in industries such as automotive & transportation, signs & displays, which will drive growth over the forecast period.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The rising rate of consumption of technology equipment is expected to benefit product demand. According to a report by the Consumer Technology Association (CTA), the retail sales of the technology industry will reach $461 billion in 2021, an increase of 4.3% over the past. In addition, consumer demand for volume Increasing demand for compact, space-saving home appliances will support the future growth of this market.
Furthermore, the growing number of professionals and their busy lifestyles have facilitated the widespread usage of electric clothes dryers at home, thereby boosting the revenue of such appliances.
Moreover, the rising trend of user-friendly smart devices is expected to accelerate the product demand.
Consumer preference for air-drying clothes is expected to restrain the growth of the electric clothes dryer market. Additionally, lack of electricity availability in rural areas may hamper the growth of the electric clothes dryer market.
LED Modules and Light Engines Market report scope:
CAGR of 11.2% from 2022 to 2030.
Residential, Commercial, Industrial, Others
Philips Lighting, Fusion Optix, Tridonic, OSRAM Licht Group, Thomas Research Products, Fulham, Zlight Technology, General Electric Company, MaxLite, RS Components, SORAA, Zhaga Consortium, .
Regions and Countries Covered
2017 to 2022
2023 to 2030
Key Takeaways from this LED Modules and Light Engines Report
- Estimate LED Modules and Light Engines market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the LED Modules and Light Engines market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of LED Modules and Light Engines market?
The LED Modules and Light Engines Market is growing at a CAGR of 11.2% During Forecast Period.
What are the key types of LED Modules and Light Engines market?
What are the key applications of LED Modules and Light Engines market?
Residential, Commercial, Industrial, Others
Who are the key players in LED Modules and Light Engines market?
Philips Lighting, Fusion Optix, Tridonic, OSRAM Licht Group, Thomas Research Products, Fulham, Zlight Technology, General Electric Company, MaxLite, RS Components, SORAA, Zhaga Consortium, And others.