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  • Published On : Jul 2022
  • Code : CMI5125
  • Industry : Semiconductors
  • Pages : 169
  • Formats :

An LED Driver is a power supply of the self-contained which controls an LED or an array of the LEDs. The LEDs ting the diode with very low energy, lighting devices, and have a long endurance and the consumption of the energy and hence, the need for the particular power supplies.

Statistics:

The LED Driver market was valued at US$ 5,274.5 Mn in 2021 and is forecast to reach a value of US$ 47789.10 Mn by 2030 at a CAGR of 28.4% between 2022 and 2030.

Figure 1: Global LED Driver Market Value (US$ Mn) Analysis and Forecast, 2017 - 2030

LED Driver  | Coherent Market Insights

Asia Pacific held a dominant position in the Global LED Driver Market Share in 2021

Statistics:

Asia Pacific held dominant position in the global LED driver market in 2021, accounting for 44.7% share in terms of volume.

Figure 2: Global LED Driver Market Share (%), By Region, 2021

LED Driver  | Coherent Market Insights

Key Developments:

In August 2020, Eaton declared a recycling program that permits the end users to dispose of aged, obsolete, or the destroyed power capacitor units. The program comprises of the onsite material pick up and assists any unit, irrespective of age, the original producer or the situation. The capacitor unit recycling procedure will differ based on the material, infrastructure and the age of unit.

In June 2020, the company ACUITY BRANDS INC. made planned alliance agreement with the Ushio America Inc. Ushio accepted to offer Acuity Brands with its Care 222 UV disinfection design, that utilizes the filtered excimer to produce 222nm far- UVC light that is able to inactive the virus and the bacteria on indoor surfaces.

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LED Driver Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 5274.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 28.4% 2030 Value Projection: US$ 47789.10 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product: Constant Current and AC LED, Constant Voltage
  • By Control Feature: Wired, Wireless
  • By Channel Out: Single, Dual, Three and above
  • By the End-user: Residential, Office, Retail and Hospitality, Outdoor, Healthcare & Educational Institutions, Industrial, Other End Users
  • By Geography: North America, Europe, Asia-Pacific, Rest of the World
Companies covered:

Hubbell Incorporated, Osram GmbH, Signify Holding, Autec Power Systems, Lutron Electronics Co. Inc., Hatch Lighting, Eaton Corporation Plc, Cree Inc., AC Electronics (ACE), Allanson International, MEAN WELL Enterprises Co. Ltd, Acuity Brands Lighting Inc., Enedo Plc, Crestron Electronics Inc. and ERP Power LLC

Growth Drivers:
  • Rising demand for energy efficient lighting system
  • Rising government rules and regulations 
Restraints & Challenges:
  • Lack of awareness
  • Huge expenditure for the Advanced process 

Market Drivers:

Driver 1:

With the rising push from the regulatory over the regions to adopt the energy effective methods, LEDs are progressively being a very important part of the regulatory plans. For instance, in the US, the DOE has set the SSL path to secure the energy. This is the factor which is anticipated to fuel the growth of the LED Driver market

Driver 2:

Comparatively to the traditional lighting solutions, like that of the incandescent the energy effective lightbulbs like that of the halogen incandescent, the compact fluorescent lamps and the LEDs usually utilize around 25%-80% least energy and then last till 3-25 times with much persistence and endurance.

Market Restraint:

Restraint 1:

In fact, there is a potential global movement for the utilization of the more energy effective lighting methods, with the predictions that are being stated that the LED and the compact florescent lamps are altered 90% of the indoor lighting by the year 2022 which is anticipated to hinder the growth of the global LED Driver market.

Restraint 2:

The acquirement of the LED solutions is elevating owing to the strict rules however, the customer perception towards the advantages of LEDs is significantly less, and however, the rise is significant. And, the end-users are anticipated to ignore the expenditure on the new lighting methods dependent upon the advantages which projected to hinder the growth of the global LED Driver market.

Market Opportunities:

Opportunity 1:

The increasing emphasis on the acquirement of the LED lighting is usual lighting, trade, industrial and the indoor equipment’s that are boosting the need for the energy-effective lighting methods, and are accepting the standard protocols to control the lighting are the main factors that are propelling the lucrative opportunities of the global LED Driver market.

Opportunity 2:

Mean Well approved the XBG series. The series is a new generation LED driver along with a licensed circular case mechanism design for the lighting bay and floodlight application. With the present HBG-60 and HBGC-300 series , the whole circular LED driver goods pipeline is finished for the customer’s choice.

Market Key Takeaways/Trends:

Trend 1:

MOONS’ declared China’s initial D4i LED driver. The industries 240W LED Driver series have crossed the D4i certification. It is the first D4i LED Driver in the China and also MOONS’ is now the fourth industry globally who is having the private D4i authorized LED Driver. 

Trend 2:

The Curvee method approved its LVHC series of the LED drivers particularly made for the low-voltage, hug –current applications usually to entertainment, clinical lighting, industrial and the solutions. Assisting the outputs present upto 36 Amps, the 150 watt rated the drivers provide the custom pulse shape control and active the heat management to observe the LED Temperature, voltage and the current.

Competitive Landscape:

Major companies involved in the global LED Driver market are Hubbell Incorporated, Osram GmbH, Signify Holding, Autec Power Systems, Lutron Electronics Co. Inc., Hatch Lighting, Eaton Corporation Plc, Cree Inc., AC Electronics (ACE), Allanson International, MEAN WELL Enterprises Co. Ltd, Acuity Brands Lighting Inc., Enedo Plc, Crestron Electronics Inc. and ERP Power LLC

The LED s offer very low voltage and the safety for the LEDs. Individual LED bulbs to function at the voltages scaling from 1.5 to 3.5 volts and currents till a maximum of 30mA. The domestic bulb may comprise of various bulbs in series and also in parallel combinations and which need a whole voltage of in between 12 and 24 V direct current.

Market Dynamics:

There are several regulatory authorizations that are further assisting the LED adoption rates. For instance, in the Europe, the European Union has the strict rules on the energy eco-design and the labelling of energy. Amidst other things the regulations need to phase out the halogen lamps by 2023 and bring the electricity savings of 93 tWt hours daily.

Besides, the gradual rise in specific regions, the current outbreak of the pandemic is anticipated to further fuel the price of the LED solutions up to 10 percent as per the survey, additionally, the new lighting methods, on a contrary are in the huge side of the price that scales to the conventional lighting.

The smart lighting is projected to spectator quick development over the predicted duration assisting the regulatory authorities and a rise in the per capita income are the main driving forces for its increase. Apart from these, developments in the IoT, strong internet connection and the Bluetooth smart assist the smart lighting market.

Key features of the study:

  • This report provides in-depth analysis of the global LED Driver market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global LED Driver market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Major companies involved in the global LED Driver market are Hubbell Incorporated, Osram GmbH, Signify Holding, Autec Power Systems, Lutron Electronics Co. Inc., Hatch Lighting, Eaton Corporation Plc, Cree Inc., AC Electronics (ACE), Allanson International, MEAN WELL Enterprises Co. Ltd, Acuity Brands Lighting Inc., Enedo Plc, Crestron Electronics Inc. and ERP Power LLC
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global LED Driver market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global LED Driver market.

Detailed Segmentation:

  • Global LED Driver Market, By Product:
    • Constant Current and AC LED
    • Constant Voltage
  • Global LED Driver Market, By control Feature:
    • Wired
    • Wireless
  • Global LED Driver Market, By Channel Count:
    • Single
    • Dual
    • Three and above
  • Global LED Driver Market, By End User:
    • Residential
    • Office
    • Retail and Hospitality
    • Outdoor
    • Healthcare & Educational Institutions
    • Industrial
    • Other End Users
  • Global LED Driver Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

Frequently Asked Questions

The global LED Driver market is estimated to be valued at US$ 6439.2 Mn in 2022 and is expected to exhibit a CAGR of 28.4% between 2022 and 2030.
The rising energy efficient lighting systems demand is anticipated to drive the growth of the market.
Office segment is the leading End User in the market.
Lack of awareness is the key factor hampering the growth of the market.
Major companies involved in the market are Hubbell Incorporated, Osram GmbH, Signify Holding, Autec Power Systems, Lutron Electronics Co. Inc., Hatch Lighting, Eaton Corporation Plc, Cree Inc., AC Electronics (ACE), Allanson International, MEAN WELL Enterprises Co. Ltd, Acuity Brands Lighting Inc., Enedo Plc, Crestron Electronics Inc. and ERP Power LLC

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