Global LED Driver for Lighting Industry Report 2024: Market to Reach $98.1 Billion by 2030 from $25 Billion in 2023
DUBLIN–(BUSINESS WIRE)–The “LED Driver for Lighting – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
Global LED Driver for Lighting Market to Reach $98.1 Billion by 2030
The global market for LED Driver for Lighting estimated at US$25.8 Billion in the year 2023, is projected to reach a revised size of US$98.1 Billion by 2030, growing at a CAGR of 18.2% over the analysis period 2023-2030.
The global LED drivers market is experiencing significant growth, driven by burgeoning demand for LED lighting solutions. Within the market, type A lamps are dominating, although lamps with integrated modules are poised to drive further expansion. The outdoor segment is anticipated to experience the fastest growth due to increasing adoption in outdoor lighting applications.
However, despite the positive trajectory, the market faces key challenges that require addressing. The competitive landscape is intense, with players worldwide vying for market share, representing a mix of strong, active, niche, and trivial market presences.
Type A-Lamps, one of the segments analyzed in the report, is projected to record 17.9% CAGR and reach US$35.5 Billion by the end of the analysis period. Growth in the T-Lamps segment is estimated at 17.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $4.3 Billion, While China is Forecast to Grow at 21.5% CAGR
LED drivers play a crucial role in regulating and powering LED lighting systems, with constant current LED drivers dominating the market. Europe and the US currently lead the LED drivers market, while the Asia-Pacific region is expected to exhibit the fastest growth.
The LED Driver for Lighting market in the U.S. is estimated at US$4.3 Billion in the year 2023. China, the world’s second largest economy, is forecast to reach a projected market size of US$27.2 Billion by the year 2030 trailing a CAGR of 21.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.4% and 14.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 20% CAGR.
Exciting New Report Features
- Full access to influencer engagement stats
- Complimentary report updates for one year
- Competitor coverage with global market shares of major players
- Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
- Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- LED Driver for Lighting – Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Burgeoning Demand for LED Lighting Drives the Global LED Drivers Market
- Constant Current LED Drivers Dominate the Market
- Europe and the US Dominate the LED Drivers Market, Asia-Pacific to Exhibit the Fastest Growth
- Type A Lamps Dominate, While Lamps with integrated Modules to Drive Market Expansion
- Outdoor Segment to Exhibit the Fastest Growth
- Key Challenges
- Competitive Landscape
MARKET TRENDS & DRIVERS
- Increased Adoption of LED Lighting Due to Superior Attributes over Traditional Lighting Technologies Drive Market Growth
- LED and Other Lighting Technologies: A Comparison
- Focus on Energy Efficiency Drives Demand for Ultra-High-Efficiency LED Drivers
- Global Electricity Demand by Region/Country (2016-2040): Breakdown of Demand (Thousand TWh) for Australia, Brazil, Canada, China, Europe, India, Japan, Middle East & North Africa, South East Asia, USA, and Rest of World
- Expanding Applications of LED Lighting Expands the Addressable Market Opportunity for LED Drivers
- Smart LED Drivers Grow in Commercial Value as IoT Based Lighting Rises in Popularity
- Rapidly Evolving Smart Lighting Opportunity Drives Demand for IoT Optimized LED Drivers with Standardized Communication Interfaces: Global Smart Lighting Smart (In US$ Billion) for the Years 2017, 2019, 2022 & 2024
- Rise of Smart Cities with Smart Lighting Needs to Boost Opportunities for LED Drivers
- LED Drivers Benefit from the Increased Penetration of LEDs in Street Lighting Application Hitherto Dominated by HID Lights
- Cities Switch towards LEDs to Modernize and Make Street Lighting Smart
- Myriad Benefits Drive Increased Demand for LED Drivers in Industrial Automation
- Growing use of Miniaturized LED Lighting Drivers
- Exponential Increase in Urbanization Drive Development of Higher Quality, More Efficient, and Longer Lasting LED Solutions
- World Urban Population in Thousands: 1950-2050P
- Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1990, 2018 & 2050
- Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
- Need to Support Plant Protection and Health in Controlled Environment Spurs LED Drivers Demand in Horticulture Applications
- LED Drivers Find New Opportunities in Architectural and Landscape Lighting
- Growing Popularity of LED Drivers in Retail Display Segment
FOCUS ON SELECT PLAYERS (Total 64 Featured)
- AC Electronics (US)
- Cree, Inc. (US)
- Infineon Technologies AG (Germany)
- Macroblock, Inc. (Taiwan)
- Microchip Technology, Inc. (US)
- NXP Semiconductors N.V. (The Netherlands)
- ON Semiconductor Corporation (US)
- Osram GmbH (Germany)
- Power Integrations, Inc. (US)
- ROHM Co., Ltd. (Japan)
- STMicroelectronics N.V. (Switzerland)
- Texas Instruments, Inc. (US)
- Toshiba Electronic Devices & Storage Corporation (Japan)
- Tungsram Operations Kft. (Hungary)
For more information about this report visit https://www.researchandmarkets.com/r/623nvx.
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