LED Light Engine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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LED Light Engine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : September, 2021 | Semiconductor & Electronics

Report Digest


Global LED Light Engine Market: Overview

The demand within the global LED light engine market has been expanding on account of advancements in the field of energy-efficient lighting systems. The presence of a growth-oriented energy sector has played a vital role in popularising LEDs, and this is a key dynamic of growth within the global LED light engine market. Several improvements in the domain of electronics and semiconductors have come to the fore in recent times. These advancements have directly influenced the growth of the global LED light engine market. New technologies for mounting LED chips on light engines have emerged over the past decade. This factor has led to increase in the volume of annual manufacturing of light engines. The total amount of revenues that would be generated within the LED light engine market could surpass all previous marks. Light engines are considered to be LED lamps that come in handy for a range of applications.

The LED light engine market is projected to attract voluminous investments from key stakeholders and venture capitalists. This is because LED-based systems are in great popularity across the world, and this shall be a strong driver of demand for the masses. Henceforth, it is safe to predict that the global LED light engine market is plush with opportunities for growth. Furthermore, regional governments have also directed funds towards the generation of an energy-efficient lighting sector. This factor shall also play a quintessentially vital role in the growth of the global LED light engine market.

The global LED light engine market can be segmented on the basis of the following parameters: product type, installation type, end-use application, and region. The forces operating in the LED light engine can be duly understood by delving into the aforementioned segments.

Global LED Light Engine Market: Notable Developments

The global LED light engine market has traced the following key developments in recent times:

Osconiq S3030 LED launched by OSRAM was manufactured with the intent to provide high-quality and durable lighting systems. The introduction of this LED light engine helped the OSRAM in achieving their annual sales goals for the launch year

GreenPower LEDs were introduced by Philips Lighting, commonly known as Signify, in the year 2018. The new addition to the company’s product portfolio helped them in expanding their consumer base to new regions.

Some of the most prominent competitors operating in the competitive landscape of global LED light engine market include –

  • TRILUX Lighting (Germany)
  • SDA Lighting (US)
  • LUMITECH (Austria)
  • AB Fagerhult (Sweden)
  • Helvar (Finland)
  • Gerard Lighting (Australia)
  • LEDRAbrands (US)

Global LED Light Engine Market: Growth Drivers

  • Need for Energy-Efficient Lighting Systems

The global energy flux has led to several transformations across a multitude of industries. This factor has also shifted the radar of focus on the lighting sector, and several researchers have come up with energy-efficient lighting models. LED lighting systems have been proved as the most efficient of systems, and this factor has played a key role in market growth.

  • Obsoleteness of Fluorescent Tubes

The use of fluorescent bulbs and tubes has run out of practice due to their high-electricity consumption. This factor has played a vital role in the growth of the global LED light engine market.

Global LED Light Engine Market: Regional Outlook

On the basis of geography, the global LED light engine market has been segmented into Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific. The LED light engine market in North America is expanding on account of complete overhauling within the energy sector.

The global LED light engine market is segmented on the basis of:

 By Product Type

  • Lamps
  • Luminaries

Installation Type

  • New Installation
  • Retrofit Installation

End-Use Application

  • Indoor Lighting
  • Outdoor Lighting

Geography

  • North America
  • Latin America
  • The Middle East and Africa
  • Europe
  • Asia Pacific

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

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Accurate Trend Analysis

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Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?