Massive Infrastructure Expansion Will Drive High-Power LED Market
Massive Infrastructure Expansion Will Drive High-Power LED Market
Blog Article
The high-power LED market has experienced growth of late. The major drivers behind the growth of the high-power LED industry are the booming automobile sector and government norms, which are prompting the usage of such LEDs for efficiency and energy conservation.
The 3–4.9W category held the largest share in the past, because of the growing need for 3–4.9W LEDs in signs and signals, automobiles, and other lighting applications. In addition, the growing adoption of these lights in outdoor and indoor illumination at residential, industrial, and commercial spaces will help this category grow in the near future.
In the recent past, the general lighting category accounted for the highest revenue, which is credited to the growing sales of industrial lights, downlights, area lights, tunnel lights, and spotlights. In addition, the demand for these lights will increase in the gaming, portable appliances, and backlighting applications, which will contribute toward the growth of this category in coming years.
APAC held the largest revenue share in the past. This was because of the booming demand for environment-friendly and energy-efficient lights on roads, in the railways, and in buildings in Japan, India, and China. For example, in the recent past, the Chinese government has announced plans to spend $120 billion for the construction of railways, which will lead to the heavy usage of these lights, thus contributing toward the growth of the high-power LED market in APAC.
Smart LED lights are trending due to their ability to be controlled by mobile phones from any place, anytime and their energy and cost efficiency. This is also because the smart sensors in the lights assess natural illumination, which helps reduce the consumption of power. People can also change the colors of these lights according to their mood.
In cricket, hockey, lawn tennis, basketball, and soccer, these lights have become a necessity owing to their long duration and cost efficiency. LED lighting with a good illumination quality is important in sports events. LED floodlights allow players to play in the best surroundings and the spectators to enjoy the sport, by ensuring best possible visibility. Hence, these products are expected to gain precedence over conventional incandescent and HID lights.
As people are leaning more toward eco-friendly lighting systems, the demand for high-power LED lights will grow extensively in the future.
Source: P&S Intelligence