PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1572524
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1572524
LED Packaging Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The Global LED Packaging Market was valued at USD 16.6 billion in 2023 and is projected to grow at a CAGR of over 5% from 2024 to 2032. The global shift towards sustainable and energy-efficient lighting solutions is the key driver for this market growth. LEDs consume significantly less energy compared to traditional lighting options, which reduces electricity consumption and energy costs. This growing awareness of energy efficiency and environmental sustainability is boosting the adoption of LED lighting across residential, commercial, and industrial sectors, subsequently driving the demand for LED packaging solutions.
An increasing demand for UV LED solutions in label and packaging printing also contributes to market growth. UV LED curing systems offer process stability and real-time monitoring, aligning with the shift toward Industry 4.0 manufacturing. Furthermore, the automotive industry is incorporating more LED lighting due to its durability, energy efficiency, and aesthetic benefits, which increases the demand for advanced LED packaging solutions that can endure challenging automotive environments.
The LED packaging market is categorized by packaging type and power range. The Chip-on-Board (COB) segment is expected to register a CAGR of over 6.5% during the forecast period. COB technology involves mounting multiple LED chips onto a substrate, offering high efficiency, superior light output, and better thermal management. This makes COB LEDs ideal for high-intensity lighting applications, enhancing lifespan and performance.
In terms of power range, the market is divided into low-power LEDs, mid-power LEDs, and high-power LEDs. The low-power LED segment is expected to account for the largest share of the market by 2032, with revenues exceeding USD 10 billion. These LEDs are essential for energy-efficient applications and are commonly used in displays, backlighting, and battery-operated devices. Despite lower power, they are designed to deliver sufficient brightness, ensuring their relevance in energy-conscious industries.
North America dominated the global LED packaging market in 2023, with a market share exceeding 30%. The region benefits from technological advancements, high consumer awareness, and R&D investments aimed at enhancing LED technologies. The U.S. leads the market, driven by government incentives, a strong automotive sector, and a focus on smart home automation. The push for smart lighting systems in homes and businesses further drives the demand for LED packaging solutions in the region.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market scope and definition
- 1.2 Base estimates and calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Vendor matrix
- 3.3 Profit margin analysis
- 3.4 Technology and innovation landscape
- 3.5 Patent analysis
- 3.6 Key news and initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Increasing demand for energy-efficient lighting solutions
- 3.8.1.2 Rising adoption of LED lighting in automotive industry
- 3.8.1.3 Technological advancements in LED packaging
- 3.8.1.4 Growing use of LEDs in display and backlighting applications
- 3.8.1.5 Expansion of smart lighting and IoT
- 3.8.2 Industry pitfalls and challenges
- 3.8.2.1 Technological complexities and standardization issues
- 3.8.2.2 Intense competition and price pressure
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Packaging Type, 2021-2032 (USD Million)
- 5.1 Key trends
- 5.2 Surface mount device
- 5.3 Chip on board (COB)
- 5.4 Ceramic packages
- 5.5 Through-hole
Chapter 6 Market Estimates and Forecast, By Power Range, 2021-2032 (USD Million)
- 6.1 Key trends
- 6.2 Low-power LEDs (0.3 W-0.5 W)
- 6.3 Mid-power LEDs (0.5 W-1 W)
- 6.4 High-power LEDs (1 W and above)
Chapter 7 Market Estimates and Forecast, By Application, 2021-2032 (USD Million)
- 7.1 Key trends
- 7.2 General lighting
- 7.3 Backlighting
- 7.4 Automotive
- 7.5 Display and signage
- 7.6 Others
Chapter 8 Market Estimates and Forecast, By Region, 2021-2032 (USD Million)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
- 8.6 MEA
- 8.6.1 UAE
- 8.6.2 South Africa
- 8.6.3 Saudi Arabia
- 8.6.4 Rest of MEA
Chapter 9 Company Profiles
- 9.1 Ams-Osram AG
- 9.2 Citizen Electronics Co., Ltd.
- 9.3 Edison Opto Corp.
- 9.4 Everlight Electronics Co., Ltd.
- 9.5 Foshan Nationstar Optoelectronics Co., Ltd.
- 9.6 Hongli Zhihui Group Co., Ltd.
- 9.7 Lextar Electronics Corporation
- 9.8 Lite-On Technology, Inc.
- 9.9 Lumileds Holding B.V.
- 9.10 Luminus, Inc.
- 9.11 MLS Co., Ltd.
- 9.12 Nichia Corporation
- 9.13 Prolight Opto Technology Corp.
- 9.14 Samsung Electronics Co., Ltd.
- 9.15 Schott AG
- 9.16 Seoul Semiconductor Co., Ltd.
- 9.17 Smart Global Holdings, Inc.
- 9.18 Stanley Electric Co., Ltd.
- 9.19 TSLC
- 9.20 Violumas
