The Global LED Light Engine Market size is expected to reach $66. 6 billion by 2027, rising at a market growth of 13. 4% CAGR during the forecast period. The LED light engine refers to an integrated compilation of one or more LED arrays or light-emitting diodes (LEDs) and also an LED driver with the other mechanical, thermal, optical, and electrical elements.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global LED Light Engine Market By Product Type, By Installation Type, By Application, By End User, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131630/?utm_source=GNW
This LED light engine is an advanced lighting technology, which delivers improved efficiency & longevity. In addition, an LED light engine is an essential part of a luminaire. Such light engines are increasingly substituting the standard lamps. Additionally, it is built from LED chips employed on the circuit board. There are primarily two types of LED light engines: lamps and luminaires. In comparison to conventional LEDs, an LED light engine does not need any AC/DC transformer as they are closely linked to alternating current or AC power.
There is increasing popularity of using LEDs as light sources across the world. However, in several places, usage of LEDs became mandatory to attain energy efficiency & color rendering standards. In addition, LED light engines show light-emitting gadgets and also a heatsink, a consistent current driver, and occasionally secondary optics to meet the light pattern needs, which makes it different from incandescent bulbs. These are some of the components that support the lumen-per-watt efficacy of the system and are required to be optimized.
The Covid-19 pandemic has impacted almost every domain of society, whether business or individual. There is a huge impact of the pandemic on the global electronics and semiconductor industry. It is owing to the temporary shutdown of the manufacturing units, nationwide lockdowns, and restricted imports & exports across the globe. Various restrictions imposed by the governments have restricted the usage of the LED light engine in several projects like smart cities.
The unavailability of the workforce during the lockdown has also restricted the production of the product, which has further hampered the product demand in the market. In addition, the gap between supply chain and demand was also increased during the lockdown period. Thus, it is anticipated that the overall growth of the LED light engine market would witness a slowdown in the forecast period.
Product Type Outlook
Based on Product Type, the market is segmented into Luminaire and Lamp. As the core component of an LED lighting system, the luminaries sub-segment is likely to dominate the market for LED light engines. The LED light engine market for luminaries is predicted to grow as consumer awareness of energy conservation and the installation of high-efficiency lighting systems is increasing. Depending on the application, LED light engines come in a variety of shapes and sizes, including linear, round, square, and rectangular. A luminaire’s LED light engine is its most important component.
Installation Type Outlook
Based on Installation Type, the market is segmented into New Installation and Retrofit Installation. The increased awareness among the population regarding the usage of energy-efficient lighting products would create lucrative opportunities for the key market players in this region. In addition, the growing usage of the LED light engine in various areas like residential, commercial, and industrial places would spur the demand for the product in this region. The presence of various key players along with the big corporate houses is creating the demand for LED light engines across this region.
Based on Application, the market is segmented into Indoor and Outdoor. The Indoor market dominated the Global LED Light Engine Market by Application 2020, growing at a CAGR of 12.5 % during the forecast period. The Outdoor market is expected to witness a CAGR of 14.8% during (2021 - 2027).
End User Outlook
Based on End User, the market is segmented into Commercial, Industrial and Residential. Residential buildings (a key sub-segment of indoor lighting) are considered to have enormous future potential. It is likely to increase at a rapid pace. Because of government regulations for energy conservation, countries all over the world are expected to use energy-efficient lighting solutions in residential applications.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The surge in initiatives by governments in the region encouraging the regional population to utilize LED lightings, which is one of the elements boosting the market growth. As a result of these efforts, the APAC light engine market is expected to grow. Nonetheless, the rise of China’s population, combined with the adoption of LEDs, is expected to drive the market development. China is already the world’s largest manufacturer and consumer of lighting fixtures and bulbs.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Samsung Electronics Co., Ltd. is the major forerunner in the Led Light Engine Market. Companies such as Acuity Brands, Inc., OSRAM GmbH, and Signify N.V. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., OSRAM GmbH (AMS AG), LEDRAbrands, Inc., Hubbell Incorporated, Zumtobel Group AG, Samsung Electronics Co., Ltd. (Samsung Group), Acuity Brands Lighting, Inc., Lumitech LLC, Lutron Electronics Co., Inc., and Glamox AS
Recent Strategies deployed in LED Light Engine Market:
Partnerships, Collaborations, and Agreements:
Mar-2021: Signify partnered with National Hockey League. Under this partnership, Signify became the preferred lighting partner for NHL arenas and possibly thousands of rinks in North America. In addition, Signify aims to lead to all sorts of lighting projects that include glare-resistant ice illumination, Internet of Things (IoT) systems, atmosphere, and ultraviolet C-band (UV-C) disinfection.
Aug-2020: Signify collaborated with the EDZCOM Oy Nordic market leader in Edge Connectivity. This collaboration aimed to launch Trulifi by Signify, two-way wireless network connectivity via infrared & visible light, into industrial applications. In addition, the companies would also work for Signify’s LiFi solutions, branded Trulifi, in the manufacturing industries.
Mar-2020: Glamox came into an agreement with Havyard, a knowledge-based maritime company. Under this agreement, Glamox would supply its DL60-R92 nightlight (red light) for the wheelhouse of Ronja Storm, which is constructed by Havyard.
Feb-2020: Signify came into partnership with ScaleAQ, an international company within aquaculture. Together, the companies aim to enhance fish farming. ScaleAQ would resell LED lighting products from Signify’s Philips Aquaculture group with a major focus on marine-based / sea cage products.
Mergers and Acquisitions:
Jun-2021: Acuity Brands took over ams OSRAM’s North American Digital Systems (DS) business. This acquisition aimed to expand Acuity’s capabilities and its advanced LED driver portfolio that consists of the eldoLED driver and IOTA emergency driver brands.
Mar-2020: Signify acquired Cooper Lighting Solutions from Eaton. This acquisition aimed to strengthen Signify’s market position and improve the position of the company to capture growth in the North American lighting market.
Product Launches and Product Expansions:
May-2021: Lutron Electronics unveiled Vive wireless lighting control system in India. The premium wireless lighting control system is deployed in single spaces or across the whole campus. This system is designed to fulfill current energy codes, be utilized in the latest construction, retrofit situations, and fulfill budgetary preferences.
Apr-2021: Samsung Electronics introduced PixCell LED, the latest automotive LED module optimized for intelligent headlights like adaptive driving beam (ADB) systems. ADB headlamps are powered by Samsung’s PixCell LEDs, which would assist in enhancing driver visibility and security to improve the driving experience at night and in poor weather conditions like fog or heavy rain.
Mar-2021: Signify introduced India’s first tailor-made 3D printed luminaires. This product utilizes 100% recyclable polycarbonate material, which enable the company to develop customized luminaries design for their customers.
Feb-2021: OSRAM Continental, a subsidiary of AMS introduced eXchangeable Light Engine. This engine extended and simplified the integration of LED Lighting solutions for the entry-level vehicle classes.
Aug-2020: Hubbell Lighting released the SpectraSafe video security application. This application focused on deploying onto linear LED luminaires across retail, care facilities, office space, banks, and others to supplant legacy video security systems. This building block of the solid-state lighting (SSL)-a centric platform is a camera/sensor module focused on the integration into luminaires
Jan-2020: Osram Opto Semiconductors introduced an enhanced model of its Oslon Square Hyper Red series. This series provides horticultural efficacy over 4 µmol/J. The company has added the latest LED called the Oslon Boost HM provided in a small-footprint package in the automotive industry, which would enable ultraslim headlamps on vehicles.
Scope of the Study
Market Segments covered in the Report:
By Product Type
By Installation Type
• New Installation
• Retrofit Installation
By End User
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Signify N.V.
• OSRAM GmbH (AMS AG)
• LEDRAbrands, Inc.
• Hubbell Incorporated
• Zumtobel Group AG
• Samsung Electronics Co., Ltd. (Samsung Group)
• Acuity Brands Lighting, Inc.
• Lumitech LLC
• Lutron Electronics Co., Inc.
• Glamox AS
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