Market Research Report
LED Light Engine - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||879187|
|Published||Content info||191 Pages
Delivery time: 2-3 business days
|LED Light Engine - Global Market Outlook (2017-2026)|
|Published: June 19, 2019||Content info: 191 Pages||
According to Stratistics MRC, the Global LED Light Engine Market is accounted for $21.88 billion in 2017 and is expected to reach $84.53 billion by 2026 growing at a CAGR of 16.2% during the forecast period. The increasing consumer demand for energy-efficient lighting systems, reduction in prices of LEDs, and high penetration of LEDs as a light source in the general lighting market are expected to drive the growth of this market. However, development of alternative technologies and lack of awareness regarding installation costs and payback periods are hindering the growth of LED light engine market across the globe.
LED Light Engine originates from Zhaga consortium. According to Zhaga definition, LED light engine or LLE is the combination of one or more LED modules, together with an LED driver (also known as electronic control gear, or ECG). Some LLEs contain an integrated driver, while some LLEs consist of one or more LED modules together with a separate driver. Therefore, LED Light Engine is a device that between LED fixtures and LED Luminaire. In a more simple definition: make led module and constant current driver printed on one Alu PCB.
Based on End User, indoor lighting segment is expected to have a larger market share than outdoor lighting. The reason is increasing infrastructural activities across the globe, mainly focused on residential lighting. By Geography, The increased construction activities in APAC are contributing significantly to the growth of the LED light engine market in the region. There are several new opportunities for energy-efficient lighting in the next few years as about 200 million homes are expected to be constructed in China and 18 million homes in India. Countries, such as China, Japan, and India are also impacting the market significantly in APAC.
Some of the key players profiled in the LED light engine market include Ab Fagerhult , Acuity Brands Inc., Cree Inc. , GE Lighting (GE Lighting + Current), Gerard Lighting, Glamox AS, Halla A.S., Hubbell Incorporated, LEDrabrands Inc., Lutron Electronics, OSRAM Licht Ag, Samsung Electronics, Signify Lighting NV, Wipro Enterprises (P) Limited and Zumtobel Group Ag.
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances