Dublin, Sept. 02, 2019 (GLOBE NEWSWIRE) -- The "High Power LED Market by Packaging Type (Flip Chip, Mesa, and Vertical), Application (General Lighting, Automotive, Flash Lighting, Backlighting), and Geography (APAC, North America, Europe, Rest of the World) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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. However, the high initial cost might restrain the market growth.

High power LED with flip chip packaging to grow at the highest CAGR during the forecast period

The high power LED market for flip chip packages will grow at the highest CAGR during the forecast period owing to its advantages over the traditional horizontal mesa packaging and vertical packaging. The flip chip packages can be driven at higher current, are free of wire-bonding, and are offered in smaller packages. This is the major factor leading to the higher adoption of these LEDs than the traditional horizontal and vertical LEDs.

Automotive application to register high CAGR in high power LED market during the forecast period

In the automotive sector, high power LEDs are used in interior and exterior lighting applications. The adoption of high power LEDs for automotive lighting is very low due to their high costs, and they are used mostly in premium cars. However, their adoption is slowly gaining momentum because of increased interest among automobile manufacturers for high power LED modules and their availability for automotive applications. The available brightness due to high power LEDs would be the major driver for the growth of the high power LED market.

APAC to hold a significant share of the high power LED market by 2024

APAC currently leads the high power LED industry in terms of market size and is likely to continue being the leading region in 2024 as well. China, South Korea, and Japan are the top three contributors to the high power LED market in APAC; the market in Japan is expected to grow at the highest CAGR during the forecast period owing to the adoption of high power LEDs in premium automotive-based out in Japan. General lighting will be the leading application segment due to the early adoption of the high power LED. Also, the demand for high power LEDs in automotive, backlighting, and flash lighting in this region are the major factors fueling the growth of the high power LED market in this region.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 High Power LED Market, 2019-2024 (USD Billion)
4.2 High Power LED Market in APAC, by Application and Country
4.3 High Power LED Market: Developed vs Developing Markets, 2019 and 2024 (USD Billion)
4.4 Geographic Analysis of High Power LED Market, 2019-2024
4.5 High Power LED Market, By Application (USD Billion)

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Long Life and Continuous Usage
5.2.1.2 Small Size, Less Power Consumption, and Low Voltage
5.2.1.3 Increasing High Brightness LED Applications
5.2.2 Restraints
5.2.2.1 High Initial Cost
5.2.3 Opportunities
5.2.3.1 Increased Demand for Smart Lighting Systems
5.2.3.2 Increased Awareness Regarding Implementation of Energy-Efficient Systems
5.2.4 Challenge
5.2.4.1 Overcoming the Thermal Problems
5.3 Value Chain Analysis

6 High Power LED Market, By Packaging Type
6.1 Introduction
6.2 Mesa
6.2.1 Mesa Packaging Being Common LED Packaging Type is Key Factor Contributing to Its High Adoption
6.3 Flip Chip
6.3.1 Wireless Bonding Technology, Enhanced Durability, Heat Dissipation, and Superior Light Performance Fuel Growth of Market for Flip Chip LED Packaging
6.4 Vertical
6.4.1 Use of Vertical Packaging in High and Super High Power Applications is Major Driver for Growth of Market for Vertical Packaged High Power LEDs

7 High Power LED Market, By Application
7.1 Introduction
7.2 Automotive
7.2.1 Use of High Power LEDs in Automotive Exterior Lighting is Major Driver for Growth of Market for Automotive
7.3 General Lighting
7.3.1 Increased Use of High Power LEDs in Street and Roadway Lighting to Drive Growth of Market for General Lighting
7.4 Backlighting
7.4.1 Increased Use High Power LEDs in Display Backlighting to Drive Market Growth for Backlighting
7.5 Flash Lighting
7.5.1 Increased Demand for High Power LEDs in Smartphones to Drive Growth of Market for Flash Lighting
7.6 Others
7.6.1 Use of High Power LEDs in Traffic Signals and Signs to Boost Growth of Market for Other Applications

8 High Power LED Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Increased Focus on Energy-Efficient Systems in US to Drive Market
8.2.2 Canada & Mexico
8.2.2.1 Increasing Investment in Smart Lighting to Fuel Growth of High Power LED Market in Canada and Mexico
8.3 Europe
8.3.1 UK
8.3.1.1 Continuous Focus of the Government on Improved Lighting Systems to Drive Growth of Market in UK
8.3.2 Germany
8.3.2.1 Continued Innovation and High Adoption of High Power LEDs in Automotive Expected to Drive Market in Germany
8.3.3 France
8.3.3.1 Increasing Demand for High Power LEDs in General Lighting and Automotive to Drive Growth of Market in France
8.3.4 Rest of Europe
8.3.4.1 Spain, Italy, Poland, Finland, Sweden, Belgium, the Netherlands, Switzerland, and Austria are Major Contributors to High Power LED Market in Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.1.1 Presence of Several Manufacturers of High Power LEDs to Drive Growth of Market in China
8.4.2 Japan
8.4.2.1 Presence of Major Automotive Players in Japan to Fuel Growth of High Power LED Market
8.4.3 South Korea
8.4.3.1 Presence of Major Smartphone, Automotive, and Display Manufacturers in South Korea Would Encourage Adoption of High Power LEDs
8.4.4 Rest of APAC
8.4.4.1 Countries Such as India, Singapore, Taiwan, and Australia to Drive Growth of Market in Rest of APAC
8.5 Rest of the World
8.5.1 Middle East and Africa
8.5.1.1 Smart Lighting to Fuel Growth of High Power LED Market in Middle East and Africa
8.5.2 South America
8.5.2.1 Rising Need for Reducing Energy Costs to Boost Growth of High Power LED Market in South America

9 Competitive Landscape
9.1 Introduction
9.2 Ranking of High Power LED Market Players
9.3 Competitive Scenario
9.3.1 Product Launches and Developments
9.3.2 Partnership, Agreement, Expansion, & Acquisition
9.4 Competitive Leadership Mapping
9.4.1 Visionary Leaders
9.4.2 Dynamic Differentiators
9.4.3 Innovators
9.4.4 Emerging Companies

10 Company Profiles
10.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis)
10.2 Key Players
10.2.1 Cree
10.2.2 Nichia
10.2.3 OSRAM Opto Semiconductors
10.2.4 Samsung Electronics
10.2.5 Lumileds
10.2.6 Everlight Electronics
10.2.7 Epistar
10.2.8 Seoul Semiconductor
10.2.9 LG Innotek
10.2.10 Broadcom
10.2.11 MLS Co. Ltd.
10.3 Other Key Players
10.3.1 Luckylight Electronics
10.3.2 Plessey Semiconductors
10.3.3 Betlux Electronics
10.3.4 Effilux
10.4 Key Innovators
10.4.1 Lite-On Technology
10.4.2 Crescent LED
10.4.3 Vollong Electronics
10.4.4 Stanley Electric

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