The global LED modules and light engines market is expected to be valued at USD 43,744.4 million in 2023. LED modules and light engine market has gained traction recently due to its industrial and residential-sector applications. LED modules and Light Engines have LED on printed circuit boards and driver IC, respectively.
The overall demand for LED Modules and Light Engines is projected to grow at a CAGR of 11.3% between 2023 and 2033, totaling around USD 127,987.7 million by 2033.
Data Points | Key Statistics |
---|---|
LED Modules and Light Engines Market Value 2023 | USD 43,744.4 million |
LED Modules and Light Engines Market Projected Value (2033) | USD 127,987.7 million |
LED Modules and Light Engines Market CAGR (2023 to 2033) | 11.3% |
From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 10.2%. The primary and foremost feature for the use of LED modules and light engines over its straight competitors like light bulbs is that LED modules and light engines are easy to manufacture, more efficient, and provide more reliable products than its straight competitors.
LED modules and light engines market gained hype due to the boom in the LED TV market and monitor backlight market. Some other markets that contribute to the growth of LED modules and light engine market are cell phone flash, architectural lighting, and automobile lighting. The overall demand for LED modules and light engines is projected to grow at a CAGR of 11.2% between 2023 and 2033, totaling around USD 115,729.3 Million by 2033.
With the increasing adoption of smart/connected lighting and LED luminaires and lamps in different sectors, LED modules and light engines are proliferating. Henceforth, the primary driver for LED modules and light engines market is the use of these products in many applications across sectors like automobile, electronics, healthcare, etc.
LED modules and light engines are used in these sectors and in broad sectors like commercial, residential, industrial, and outdoor sectors, making it a vast market with several opportunities. Moreover, the decline in prices and an improved light quality and flexibility provided by LED modules and light engines drive its growth in the market.
The major challenge faced by the LED modules and light engines market is that it plays by the rules of one company. The other competitors report that the market is closed due to specifications followed by just one company, making it a closed manufacturer's standard.
In addition to this, a few of the LED modules and light engines suffer from 120Hz flicker, which reduces the efficiency to almost 83%. This impedes the growth of the LED modules and light engines market.
Increasing Adoption of LEDs Driving Market Growth in North America
The North America LED modules and light engines market is expected to accumulate a market share of 22.1% in 2023. North America is expected to dominate during the forecast period owing to the adoption of LEDs and applications, including LEDs on a common utility purpose by several industries.
Demand from Residential and Architectural Segments to Boost Market Growth in Europe
The European region is anticipated to be one of the leading LED modules and light engine markets, with a share of 18.9%. European countries are implementing LED Lights technologies in residential and architectural segments, and such a high adoption of LED Lights is most visible in countries including the UK, France, Germany, and Italy.
Some key players in the LED Modules and Light Engines market are Nanoleaf, EcoSense Lighting, Lumenpulse, LIFX, Urban Gro and many more.
Prominent players in the LED Modules and Light Engines market are Philips Lumileds, Cree, Osram Opto, GE, Everlight, Nichia, Sharp, Toyoda Gosei, Samsung LED, Seoul Semiconductor, LG Innotek, and various other regional manufacturers.
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 11.3% from 2023 to 2033 |
Market Value in 2023 | USD 43,744.4 million |
Market Value in 2033 | USD 127,987.7 million |
Base Year for Estimation | 2023 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Segments Covered | Form Factor, Application, Region |
Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa (MEA) |
Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
Key Companies Profiled | Philips; Lumileds; Cree; Osram Opto; General Electric Company; Everlight; Nichia; Sharp Corporation; Toyoda Gosei; Samsung LED; Seoul Semiconductor; LG Innotek |
Customization | Available upon Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Volume (Units) Forecast by Region, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 4: Global Market Volume (Units) Forecast by Application, 2018 to 2033
Table 5: Global Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 6: Global Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Table 7: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 8: North America Market Volume (Units) Forecast by Country, 2018 to 2033
Table 9: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 10: North America Market Volume (Units) Forecast by Application, 2018 to 2033
Table 11: North America Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 12: North America Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Latin America Market Volume (Units) Forecast by Country, 2018 to 2033
Table 15: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 16: Latin America Market Volume (Units) Forecast by Application, 2018 to 2033
Table 17: Latin America Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 18: Latin America Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Table 19: Western Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 20: Western Europe Market Volume (Units) Forecast by Country, 2018 to 2033
Table 21: Western Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 22: Western Europe Market Volume (Units) Forecast by Application, 2018 to 2033
Table 23: Western Europe Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 24: Western Europe Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Table 25: Eastern Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Eastern Europe Market Volume (Units) Forecast by Country, 2018 to 2033
Table 27: Eastern Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 28: Eastern Europe Market Volume (Units) Forecast by Application, 2018 to 2033
Table 29: Eastern Europe Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 30: Eastern Europe Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Table 31: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 32: South Asia and Pacific Market Volume (Units) Forecast by Country, 2018 to 2033
Table 33: South Asia and Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 34: South Asia and Pacific Market Volume (Units) Forecast by Application, 2018 to 2033
Table 35: South Asia and Pacific Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 36: South Asia and Pacific Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Table 37: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 38: East Asia Market Volume (Units) Forecast by Country, 2018 to 2033
Table 39: East Asia Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 40: East Asia Market Volume (Units) Forecast by Application, 2018 to 2033
Table 41: East Asia Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 42: East Asia Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Table 43: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 44: Middle East and Africa Market Volume (Units) Forecast by Country, 2018 to 2033
Table 45: Middle East and Africa Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 46: Middle East and Africa Market Volume (Units) Forecast by Application, 2018 to 2033
Table 47: Middle East and Africa Market Value (US$ Million) Forecast by Form Factor, 2018 to 2033
Table 48: Middle East and Africa Market Volume (Units) Forecast by Form Factor, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Application, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 5: Global Market Volume (Units) Analysis by Region, 2018 to 2033
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 8: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 9: Global Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 10: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 11: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 12: Global Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 13: Global Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 14: Global Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 15: Global Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 16: Global Market Attractiveness by Application, 2023 to 2033
Figure 17: Global Market Attractiveness by Form Factor, 2023 to 2033
Figure 18: Global Market Attractiveness by Region, 2023 to 2033
Figure 19: North America Market Value (US$ Million) by Application, 2023 to 2033
Figure 20: North America Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 21: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 23: North America Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 26: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 27: North America Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 28: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 29: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 30: North America Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 31: North America Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 34: North America Market Attractiveness by Application, 2023 to 2033
Figure 35: North America Market Attractiveness by Form Factor, 2023 to 2033
Figure 36: North America Market Attractiveness by Country, 2023 to 2033
Figure 37: Latin America Market Value (US$ Million) by Application, 2023 to 2033
Figure 38: Latin America Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 39: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 44: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 45: Latin America Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 48: Latin America Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 49: Latin America Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 52: Latin America Market Attractiveness by Application, 2023 to 2033
Figure 53: Latin America Market Attractiveness by Form Factor, 2023 to 2033
Figure 54: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 55: Western Europe Market Value (US$ Million) by Application, 2023 to 2033
Figure 56: Western Europe Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 57: Western Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 58: Western Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 59: Western Europe Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 60: Western Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 61: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 62: Western Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 63: Western Europe Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 64: Western Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 65: Western Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 66: Western Europe Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 67: Western Europe Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 68: Western Europe Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 69: Western Europe Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 70: Western Europe Market Attractiveness by Application, 2023 to 2033
Figure 71: Western Europe Market Attractiveness by Form Factor, 2023 to 2033
Figure 72: Western Europe Market Attractiveness by Country, 2023 to 2033
Figure 73: Eastern Europe Market Value (US$ Million) by Application, 2023 to 2033
Figure 74: Eastern Europe Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 75: Eastern Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 76: Eastern Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 77: Eastern Europe Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 78: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 79: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 80: Eastern Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 81: Eastern Europe Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 82: Eastern Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 83: Eastern Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 84: Eastern Europe Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 85: Eastern Europe Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 88: Eastern Europe Market Attractiveness by Application, 2023 to 2033
Figure 89: Eastern Europe Market Attractiveness by Form Factor, 2023 to 2033
Figure 90: Eastern Europe Market Attractiveness by Country, 2023 to 2033
Figure 91: South Asia and Pacific Market Value (US$ Million) by Application, 2023 to 2033
Figure 92: South Asia and Pacific Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 93: South Asia and Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 94: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 95: South Asia and Pacific Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 96: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 97: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 98: South Asia and Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 99: South Asia and Pacific Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 100: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 101: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 102: South Asia and Pacific Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 103: South Asia and Pacific Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 104: South Asia and Pacific Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 105: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 106: South Asia and Pacific Market Attractiveness by Application, 2023 to 2033
Figure 107: South Asia and Pacific Market Attractiveness by Form Factor, 2023 to 2033
Figure 108: South Asia and Pacific Market Attractiveness by Country, 2023 to 2033
Figure 109: East Asia Market Value (US$ Million) by Application, 2023 to 2033
Figure 110: East Asia Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 111: East Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 112: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 113: East Asia Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 114: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 115: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 116: East Asia Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 117: East Asia Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 118: East Asia Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 119: East Asia Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 120: East Asia Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 121: East Asia Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 122: East Asia Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 123: East Asia Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 124: East Asia Market Attractiveness by Application, 2023 to 2033
Figure 125: East Asia Market Attractiveness by Form Factor, 2023 to 2033
Figure 126: East Asia Market Attractiveness by Country, 2023 to 2033
Figure 127: Middle East and Africa Market Value (US$ Million) by Application, 2023 to 2033
Figure 128: Middle East and Africa Market Value (US$ Million) by Form Factor, 2023 to 2033
Figure 129: Middle East and Africa Market Value (US$ Million) by Country, 2023 to 2033
Figure 130: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 131: Middle East and Africa Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 135: Middle East and Africa Market Volume (Units) Analysis by Application, 2018 to 2033
Figure 136: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 137: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 138: Middle East and Africa Market Value (US$ Million) Analysis by Form Factor, 2018 to 2033
Figure 139: Middle East and Africa Market Volume (Units) Analysis by Form Factor, 2018 to 2033
Figure 140: Middle East and Africa Market Value Share (%) and BPS Analysis by Form Factor, 2023 to 2033
Figure 141: Middle East and Africa Market Y-o-Y Growth (%) Projections by Form Factor, 2023 to 2033
Figure 142: Middle East and Africa Market Attractiveness by Application, 2023 to 2033
Figure 143: Middle East and Africa Market Attractiveness by Form Factor, 2023 to 2033
Figure 144: Middle East and Africa Market Attractiveness by Country, 2023 to 2033
The market is valued at USD 43.7 billion in 2023.
Philips, Lumileds, and Cree are the key market players.
The market registered a CAGR of 10.2% between 2018 and 2022.
Rising adoption of smart/connected lighting to boost growth.
The market is expected to be worth USD 127.9 billion in 2033.
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