Increasing Demand for High Power LEDs in General Lighting and Automotive to Drive Growth of Market

The high power LED market is expected to grow from USD 4.5 billion in 2019 to USD 5.6 billion by 2024, at a CAGR of 4.5% during the forecast period. The long life & continuous usage, small size, less power consumption & low voltage, and increasing high brightness application are the major factors fueling the growth of the overall market.

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High power LED with vertical packaging to grow at a considerable CAGR to lead the market during the forecast period

The vertical packaging structure is used majorly for high and super high power applications. It consists of a conductive substrate at the bottom, which forms a bottom electrode, and the current flows in a vertical direction. These advantages offered by the vertical packaging would help the market to grow at a higher CAGR as compared to the Mesa packaging.

Flash lighting application to witness high growth in high power LED market

The demand from the mobile phone users for cameras providing high-quality image capture in dim light environments, such as night clubs and restaurants, has compelled smartphone manufacturers to include high power LEDs in a flash lighting module. Often the light available for taking photographs from mobile phones is insufficient, and hence, the use of flashlight units as an additional light source is essential. The conventional LEDs produce 6–7 lm (lumen), whereas high power LEDs can deliver more than 80 lm. The increased demand for smartphones will drive the high power LEDs in a flash lighting application.

Europe to account for a substantial share in high power LED market during the forecast period

With significant technological innovations taking place in it, Europe is an important region in the market. The UK, Germany, and France are key European countries that have been contributing significantly to the market. OSRAM, Lumileds, and Plessey Semiconductor are key high power LED manufacturing companies in this region. Germany, UK, and France together are expected to hold a significant share of the  market, with the general and automotive lighting applications offering numerous growth prospects to the market players.

Key Market Players

A few companies in the market are Cree (US), Nichia (Japan), OSRAM (Germany), Samsung (South Korea), Everlight (Taiwan), Lumileds (Netherlands), Epistar (Taiwan), LG Innotek (South Korea), Broadcom (US), MLS (China), and Seoul Semiconductor (South Korea). The other vital companies are Luckylight Electronics (China), Plessey Semiconductors (UK), Betlux Electronics (China), Effilux (France), Lite-On Technology (Taiwan), Crescent LED (UK), Vollong Electronics (China), and Stanley Electric (Switzerland).