Growing Adoption of High-brightness LEDs in Automotive Lighting and Growing Demand for Energy-efficient Lighting Solutions Are Boosting the High-brightness LED Market Size During the Forecast Period 2022-2027

The global High-brightness LED Market size is expected to reach US$25.8 billion by 2027, growing at a CAGR of 10.8% from 2022 to 2027. Growing demand for energy-efficient smart lighting solutions, high durability, low voltage advantages and growing applications of High-brightness LEDs across various industry verticals are propelling the High-brightness LED industry forward. In March 2021, Lumileds Holding B.V. launched LUXEON SkyBlue, a high-brightness LED system in collaboration with BIOS Lighting, thereby contributing to the High-brightness LED market size. However, performance issues in different ambient temperatures are hampering the growth of the High-brightness LED market.

Moreover, widespread applications of High-brightness LEDs in automotive lighting, general lighting, backlighting and others are creating ample opportunities for the High-brightness LED market to grow. In February 2022, Valeo and Samvardhana Motherson Automotive Systems collaborated to make vehicle interiors with cutting-edge surface finish and High-brightness LED interior lighting systems.

Europe generated approximately 28% of the global revenues in the High-Brightness LED industry in 2021. This growth can be attributed to the growing usage of High-brightness LEDs in different industry verticals, the presence of major manufacturers and government policies supporting LED installations. In April 2021, Lumileds launched new LED X-treme Ultinon headlight bulbs and fog light bulbs to illuminate the roads clearly without glare and create a uniform beam pattern.

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High-Brightness LED Market Growth Driver:

Growing adoption of High-brightness LEDs in automotive lighting:

An automotive lighting system improves visibility in low-light conditions and ensures the safety of pedestrians and other drivers. Technological advancements in the automotive lighting field are providing numerous growth opportunities. Technologies such as integrating High-brightness LEDs with Advanced Driver Assistance Systems (ADAS) reduce the number of collisions on roads and aid drivers in detecting the speed of oncoming traffic with accuracy. These factors significantly boost the adoption of High-brightness LEDs in the automotive lighting segment. In FY 2021, according to European Automobile Manufacturers Association, commercial vehicle production in Europe expanded by 4.9% and 13.7 million light commercial vehicles were registered. This growing automobile production would also create the demand for high-brightness LEDs. Additionally, in July 2022, Hella introduced the next-gen ambient vehicle lighting. The all-new Hella Slim Light System can be embedded between several layers and not exceed a thickness of eight millimeters. These lighting systems are also capable of providing high luminosity and consume very low power. These developments and continuous investments would positively influence the High-brightness LED industry outlook during the forecast period.

The Major Players in this Market

Major players in High-brightness LED Market include Osram GmbH, Samsung Electronics Co., Lumileds, Syska, Eaton Corp and Everlight Electronics. In April 2022, ViewSonic Corporation launched LS500W/WH and LS550W/WH LED projectors for the education market and various enterprises. These new innovative projectors feature third-generation LED technology, which provides high brightness, energy efficiency, sustainability, long lifespan and other benefits to consumers.