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High Brightness LED Market to Touch USD 17.2 Billion at 9.7% CAGR by 2032

Nov 10, 2023 12:00 AM ET

High Brightness LED Market to Touch USD 17.2 Billion at 9.7% CAGR by 2032

High Brightness LED Market Analysis 

The global high brightness LED market will touch USD 17.2 billion at a 9.7% CAGR by 2032, as per the latest Market Research Future report.


Burgeoning Need for Durable Lighting Solutions to Boost Market Growth 

The burgeoning need for durable and energy-efficient lighting solutions will boost market growth in the forecast period. This is owing to the rising concerns about the higher carbon emission levels. Besides, favorable initiatives by the government that support energy conservation as well as green construction practices are offering market impetus.


Preference over Traditional Incandescent Bulbs to offer Robust Opportunities 

The preference for high brightness LED bulbs over traditional incandescent bulbs will offer lucrative opportunities for the high brightness LED market in the forecast period. The high brightness LED bulbs provide better efficiency over other forms of light bulbs. Besides, these are robust, thus offer higher life span over traditional incandescent bulbs. Likewise these are efficient lighting sources, thus help in saving about 70% energy in comparison to the traditional incandescent bulbs. All these features bode well for the market growth.

Restraints and Challenges 

High Initial Cost to act as Market Restraint 

The high initial cost of high brightness LED bulbs and efficient just in ambient temperatures may act as market restraints over the forecast period.

Besides, the COVID-19 impact may also impede the market for high brightness LED bulbs owing to supply chain disruptions and halt in production.

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Key Players 

Eminent industry players profiled in the global high brightness LED market report include

  • Epistar Corporation,
  • Cree Inc.,
  • Lumileds Holding B.V.,
  • Moritex Corporation,
  • Samsung Electronics Co Ltd,
  • Seoul Semiconductor,
  • Osram Opto Semiconductors GmbH,
  • American Bright Optoelectronics Corps,
  • Nichia Corporation,
  • Toyoda Gosei.

Market Segmentation 

The global high brightness LED market is bifurcated based on application.

By application, signals and signage will lead the market in the forecast period for its ability of producing multiple colors coupled with its low power requirements

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Regional Analysis 

APAC to Head High Brightness LED Market 

The APAC region will head the high brightness LED market over the forecast period. Most rising economies namely Thailand, Indonesia, Malaysia, Vietnam, Russia, and India support the installation of LED outdoor lighting and government legislation associated with such installations. Besides, increased government expenditure on LED orders indeed has aided the increase of HB-LED within Asian nations, especially India. The region will experience an ascending growth for the surge in need for LEDs having higher lifespan.

Europe to Have Admirable Growth in High Brightness LED Market 

Europe will have admirable growth in the high brightness LED market over the forecast period for the proliferated need for replacing old lights. The mobile and automotive sectors are fueling market growth. Germany grabbed the utmost market share while the UK had been the fastest growing market for high brightness LED in the region.

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