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.
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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
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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
| Market | High Brightness (HB) LED Market |
| High Brightness (HB) LED Market Size 2021 | USD 14.6 Billion |
| High Brightness (HB) LED Market Forecast 2030 | USD 35.3 Billion |
| High Brightness (HB) LED Market CAGR During 2022 - 2030 | 10.4% |
| High Brightness (HB) LED Market Analysis Period | 2018 - 2030 |
| High Brightness (HB) LED Market Base Year | 2021 |
| High Brightness (HB) LED Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Application, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | 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. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
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
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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)
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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.
Frequently Asked Questions
What is the size of global high brightness (HB) LED market in 2021?
The market size of high brightness (HB) LED market in 2021 was accounted to be USD 14.6 Billion.
What is the CAGR of global high brightness (HB) LED market during forecast period of 2022 to 2030?
The projected CAGR of high brightness (HB) LED market during the analysis period of 2022 to 2030 is 10.4%.
Which are the key players operating in the market?
The prominent players of 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.
Which region held the dominating position in the global high brightness (HB) LED market?
Asia-Pacific held the dominating high brightness (HB) LED during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
North America region exhibited fastest growing CAGR for high brightness (HB) LED during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global high brightness (HB) LED market?
Rising demand for high brightness lighting application, increasing awareness towards less power consumption, long life and continuous usage, and reducing in the cost of LED component drives the growth of global pytosterols market.
Which application held the maximum share in 2021?
Based on application, general lighting segment is expected to hold the maximum share of the high brightness (HB) LED market.
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