High Brightness LED Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global High Brightness (HB) LED Market Size accounted for USD 14.6 Billion in 2021 and is projected to occupy a market size of USD 35.3 Billion by 2030 growing at a CAGR of 10.4% from 2022 to 2030.

With the increasing environmental concerns, the implementation rate of LED is expected to grow in buildings. The general lighting industry is also anticipated to propel the demand for LED lights. In addition, leading HB-LED manufacturers have initiated manufacturing LED lights and some of the Chinese LED manufacturers have entered the market with LED products having a low prices. Despite traditional fluorescent lamps, LED lights do not contain mercury, which is a hazardous element. Though LED lights comprise some poisonous substances such as gallium arsenide, the quantity of the substance is very less, and therefore, it can be considered an eco-friendly alternative to traditional fluorescent lamps.

High Brightness (HB) LED Market Report Statistics

• Global high-brightness (HB) LED market revenue is projected to reach USD 35.3 billion by 2030 with a CAGR of 10.4% from 2022 to 2030
• According to the International Energy Agency (IEA), over 50% of the global lighting market uses LED technology
• As per Energy.gov data, primary energy demand increased by 5.8% in 2021, surpassing 2019 levels by 1.3%
• Asia-Pacific high brightness LED market share generated over US$ 5.5 billion revenue in 2021
• North America high brightness LED market growth is assumed to record approx 11% CAGR from 2022 to 2030
• As per U.S. Energy Information Administration (EIA), there was 44% rise in LED usage from 2012 to 2018
• Based on application, general lighting sub-segment achieved USD 6.6 billion revenue in 2021
• Growing demand for smart-lighting systems is a prominent high brightness LED market trend that fuels the industry demand

Global High Brightness LED Market Dynamics

Market Drivers

• Rising demand for high brightness lighting application
• Increasing awareness towards less power consumption
• Long life and continuous usage
• Reducing in the cost of LED component

Market Restraints

• High initial cost
• Efficient only in ambient temperatures

Market Opportunities

• Rising trend of smart lighting systems
• Rapidly growing commercial and residential buildings in emerging nations

High Brightness (HB) LED Market Report Coverage

High Brightness (HB) LED Market Growth Factors

Some of the major factors driving the growth of this market include high brightness LED bulbs market offers better efficiency when compared to other types of light bulbs. In addition, these devices are robust and are expected to have a higher life span as compared to traditional incandescent bulbs which have a life time range of 50,000 hours to 100,000 hours. Likewise, they are one of the efficient lighting sources and hence enable saving 50% to 70% of energy over traditional incandescent bulbs. This in turn is anticipated to decrease carbon emissions and bolster the global high-brightness LED market demand over the forecast period.

High Brightness (HB) LED Market Segmentation

The global high brightness (HB) LED market is segmented based on application, and geography.

High-Brightness (HB) LED Market By Application

• Automotive
• General Lighting
• Consumer Electronics
• Signals & Signage
• Others

Based on high brightness (HB) LED industry analysis, the application segment is dominated by the general lighting segment as there is a change in consumer preferences from traditional bulbs to advanced HB-LEDs and a rise in sales of downlights, replacement lamps, outdoor lights, commercial, and industrial products. However, the signals & signage application segment is expected to exhibit the fastest growth during the forecast period owing to its ability to produce multiple colors and low power requirements.

HB-LED includes growing applications such as demand has proliferated in different applications due to its different benefits such as dimmability, longer life span, and efficiency. In addition, the demand for HB-LEDs in backlighting, portable appliance, displays, and large-screen display applications has increased significantly and is projected to endure during the forecast period. The life span of LED is likely to have a key impact on the demand. With the growing demand for long-lasting bulbs, its effect is likely to grow in the upcoming days. LEDs have a longer lifespan compared to the other light sources

High-Brightness LED Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

High Brightness (HB) LED Market Regional Analysis

Based on geographical regions, Asia-Pacific has contributed the maximum revenue share of HB LED market in 2021 and is expected to uphold its lead in the forecast period. This would be attributed to several factors, for example, LED outdoor lighting installations and the government policies related to the installations are getting support mainly in emerging markets such as India, Russia, Vietnam, Malaysia, Indonesia, and Thailand. Furthermore, improvement in government expenditure on LED orders has enhanced the HB-LED growth in Asian countries, particularly in India.

High-Brightness (HB) LED Market Players

Some of the leading companies operating in the global high brightness HB LED market include Toyoda Gosei Co., Ltd., Epistar Corp., MORITEX Corporation, Samsung Electronics Co Ltd, OSRAM GmbH, General Electric, Bajaj Electricals Ltd., Koninklijke Philips N.V., Seoul semiconductor, Osram GmbH, Lumileds, Syska, and American Bright Optoelectronics Corporation.