The LED light engine (LLE) is an integrated assembly which is composed of one or more LED arrays (modules) or light emitting diodes (LEDs) as well as an LED driver along with the other optical, mechanical, thermal, and electrical components. It is a cutting-edge lighting technology that offers increased efficiency and longevity. A luminaire's fundamental component is its LED light engine. These light engines can be used to replace standard lamps. Compared with traditional LEDs, the LED light engine does not require an AC/DC transformer because it is directly connected to alternating current or AC power.
Factors such as rapid urbanization coupled with infrastructural development; reduction in LED prices; and emergence of initiatives governing bodies toward the adoption of the energy-efficient lighting system mainly drive the growth of the market. For instance, ongoing smart cities initiatives around the globe has encouraged the implementation of lighting systems, which are based on IoT. Moreover, huge growth of LED technology over conventional lighting technology as well as rise in penetration of LEDs as light sources in general lighting is projected to drive the growth of the market during the forecast period. On the other hand, the integration of wireless technology in LED lighting systems and emergence of innovative LED light engine products are projected to create lucrative growth opportunities for the market during the forecast period.
The LED light engine market is segmented on the basis of product type, installation type, sales channel, application, end user, and region. On the basis of product type, the market is segmented into lamp and luminaire. The lamp segment is further segmented into A-shape, reflector, decorative, and specialty. The luminaire segment is further segmented into ceiling fan, chandelier, highbay lighting, recessed luminaires, and others. By installation type, the market is classified into new installation and retrofit installation. The new installation segment is further segmented into consulting, installation and deployment, and maintenance. The retrofit installation segment is further segmented into consulting, installation and deployment, and maintenance. According to the sales channel, the market is segmented into direct sales and indirect sales. According to the application, the market is segmented into indoor lighting and outdoor. On the basis of end user, the market is classified into residential, commercial, and industrial.
Region wise, the LED light engine market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The companies profiled in the LED light engine market report include Acuity Brands, Inc., General Electric Company, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and Zumtobel Lighting GmbH.
Factors such as rapid urbanization coupled with infrastructural development; reduction in LED prices; and emergence of initiatives governing bodies toward the adoption of the energy-efficient lighting system mainly drive the growth of the market. For instance, ongoing smart cities initiatives around the globe has encouraged the implementation of lighting systems, which are based on IoT. Moreover, huge growth of LED technology over conventional lighting technology as well as rise in penetration of LEDs as light sources in general lighting is projected to drive the growth of the market during the forecast period. On the other hand, the integration of wireless technology in LED lighting systems and emergence of innovative LED light engine products are projected to create lucrative growth opportunities for the market during the forecast period.
The LED light engine market is segmented on the basis of product type, installation type, sales channel, application, end user, and region. On the basis of product type, the market is segmented into lamp and luminaire. The lamp segment is further segmented into A-shape, reflector, decorative, and specialty. The luminaire segment is further segmented into ceiling fan, chandelier, highbay lighting, recessed luminaires, and others. By installation type, the market is classified into new installation and retrofit installation. The new installation segment is further segmented into consulting, installation and deployment, and maintenance. The retrofit installation segment is further segmented into consulting, installation and deployment, and maintenance. According to the sales channel, the market is segmented into direct sales and indirect sales. According to the application, the market is segmented into indoor lighting and outdoor. On the basis of end user, the market is classified into residential, commercial, and industrial.
Region wise, the LED light engine market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The companies profiled in the LED light engine market report include Acuity Brands, Inc., General Electric Company, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and Zumtobel Lighting GmbH.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the led light engine market analysis from 2022 to 2032 to identify the prevailing led light engine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the led light engine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global led light engine market trends, key players, market segments, application areas, and market growth strategies.
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- Average Selling Price Analysis / Price Point Analysis
- Historic market data
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- List of customers/consumers/raw material suppliers- value chain analysis
- Market share analysis of players at global/region/country level
- Volume Market Size and Forecast
Key Market Segments
By Application
- Indoor
- Outdoor
By End User
- Industrial
- Residential
- Commercial
By Product Type
- Lamp
- Lamp
- A-Shape
- Reflector
- Decorative
- Specialty
- Luminaire
- Luminaire
- Ceiling Fan
- Chandelier
- Highbay Lighting
- Recessed Luminaire
- Others
By Installation Type
- New installation
- New Installation
- Consulting
- Installation and Deployment
- Maintenance
- Retrofit installation
- Retrofit Installation
- Consulting
- Installation and Deployment
- Maintenance
By Sales Channel
- Direct Sales
- Indirect Sales
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Zumtobel Lighting GmbH
- General Electric Company
- Samsung Electronics Co., Ltd
- Lutron Electronics Co., Inc.
- Signify Holding
- OSRAM GmbH
- Ideal Industries, Inc.
- ACUITY BRANDS, INC.
- Hubbell Incorporated
- Glamox AS
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LED LIGHT ENGINE MARKET, BY PRODUCT TYPE
CHAPTER 5: LED LIGHT ENGINE MARKET, BY INSTALLATION TYPE
CHAPTER 6: LED LIGHT ENGINE MARKET, BY SALES CHANNEL
CHAPTER 7: LED LIGHT ENGINE MARKET, BY APPLICATION
CHAPTER 8: LED LIGHT ENGINE MARKET, BY END USER
CHAPTER 9: LED LIGHT ENGINE MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the LED light engine market was valued at $35.6 billion in 2022, and is estimated to reach $115.8 billion by 2032, growing at a CAGR of 12.6% from 2023 to 2032.The LED Light Engine market is likely to experience a significant growth rate of 12.6% from 2023-2032 owing to increasing demand for LED Light Engines in various applications, including entertainment, corporate, education, and government sectors.
When an electrical current flows through semiconductor devices called LEDs, or light emitting diodes, they release light. The lighting sector underwent a revolution because of this phenomenon, known as electroluminescence. Compared to conventional lighting technologies like incandescent and fluorescent bulbs, LEDs provide several significant advantages. They use very little energy, generate less heat, last longer, and provide a broad range of colors. These characteristics have made LEDs the preferred illumination technology for a variety of applications.
At the core of many LED lighting systems is the LED light engine. A light engine is a compact, integrated module that includes one or more LEDs, optics, thermal management components, and often a driver circuit. These elements work together seamlessly to produce a controlled and efficient light output.
The increasing awareness of environmental sustainability is in line with the introduction of LED light engines. LEDs use a lot less energy than traditional lighting methods, which helps to minimize carbon emissions. Additionally, because of their long lifespan, fewer replacements are required, which lowers waste and maintenance expenses. We can anticipate even better energy efficiency and innovation as LED technology develops, which will ultimately pave the way for a more sustainable and brilliant future.
The LED light engine market is during a vibrant period of expansion and innovation, propelled by a number of significant trends and bright expansion prospects. The combination of smart lighting solutions with LED technology is one significant trend that enables improved control, automation, and energy savings through IoT connectivity. Additionally, the idea of"human-centric lighting" is expanding thanks to LED light engines' ability to mimic natural light patterns, which has a favorable influence on well-being and productivity and is being more widely used in workplace, hospital, and educational environments. Due to the increased emphasis on cleanliness during the COVID-19 pandemic, the use of UV-C LEDs for disinfection reasons is another key growing area. These LEDs are essential in healthcare, hospitality, and public settings because to their effective pathogen-killing powers. Additionally, as LED technology develops, miniaturization and improved energy efficiency open doors for uses in wearables, portable electronics, and burgeoning sectors like horticultural lighting, where LEDs promote sustainable agricultural methods. In conclusion, the LED light engine market is growing and becoming more relevant across several industries as a result of changing trends and new applications.
The LED light engine market is segmented on the basis of product type, installation type, sales channel, application, end user, and region. On the basis of product type, the market is segmented into lamp and luminaire. The lamp segment is further segmented into A-shape, reflector, decorative, and specialty. The luminaire segment is further segmented into ceiling fan, chandelier, highbay lighting, recessed luminaires, and others. By installation type, the market is classified into new installation and retrofit installation. The new installation segment is further segmented into consulting, installation and deployment, and maintenance. The retrofit installation segment is further segmented into consulting, installation and deployment, and maintenance. According to the sales channel, the market is segmented into direct sales and indirect sales. According to the application, the market is segmented into indoor lighting and outdoor. On the basis of end user, the market is classified into residential, commercial, and industrial.
Region wise, the LED light engine market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competitive analysis and profiles of the major global LED Light Engine market players that have been provided in the report are Acuity Brands, Inc., General Electric Company, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and Zumtobel Lighting GmbH. For instance, in June 2023, Acuity Brands launched AutoConnect to a new family of cobra head fixtures that will change the way connected roadway lighting looks like. AutoConnect consists of three energy-efficient solutions to address any application with simple, secure, and affordable roadway lighting.
Key Market Insights
By product type, the luminaire segment was the highest revenue contributor to the market, and is estimated to reach $60.50 billion by 2032, with a CAGR of 11.6%.By installation type, the new installation segment dominated the global market, and is estimated to reach $55.35 billion by 2032, with a CAGR of 11.2%.
By sales channel, the direct sales segment dominated the global market, and is estimated to reach $83.70 billion by 2032, with a CAGR of 12.0%.
By application, the indoor segment dominated the global market, and is estimated to reach $59.32 billion by 2032, with a CAGR of 11.5%.
By end user, the commercial segment dominated the global market, and is estimated to reach $40.61 billion by 2032, with a CAGR of 10.4%.
Based on region, North America was the highest revenue contributor, and is estimated to reach $36.81 billion by 2032, with a CAGR of 10.7%.
Companies Mentioned
- Zumtobel Lighting GmbH
- General Electric Company
- Samsung Electronics Co., Ltd
- Lutron Electronics Co., Inc.
- Signify Holding
- OSRAM GmbH
- Ideal Industries, Inc.
- ACUITY BRANDS, INC.
- Hubbell Incorporated
- Glamox AS
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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