Market Trends of High Power LED Industry
This section covers the major market trends shaping the High Power LED Market according to our research experts:
Increasing Adoption of High Power LED in Automotive Lighting Boosting the Market's Growth
- With the introduction of high power LEDs, there has been considerable innovation in the automotive lighting industry. LED's has the advantage of being much brighter and smaller than the traditional lamps.
- The growing demand for high power LED lights in automotive interior and exterior applications, such as fog lights, position lights, headlights, ambient lighting, and dashboard lights is boosting the automotive application. The volume of high-power LEDs used for this application has been growing each year.
- The shift to high power LEDs brings better lighting to car owners. LEDs represent an automotive visual revolution, an enhancement in technology which brings increased safe driving factor.
- For instance, LED play an essential role in digital lighting solutions, where the vehicle lighting is directly connected to active safety systems. Under digital lighting, the entire lighting system is connected to the other systems of the vehicle such as vision systems, navigation, and emergency safety functions which enable the situation where there is level of autonomy achieved while driving.
- This lighting technology will display information to the driver on the road itself as well as provide other users with information about the intended movements of the vehicle. This technology will eventually be used for autonomous driving and connected transportation.
- LEDs are used widely in both standard and luxury automobiles. Even commercial vehicles have leveraged this automotive lighting technology for the high levels of efficiency it offers.
- Moreover, as automotive lighting systems become more intelligent, demand for the high efficacy and unsurpassed reliability of the highest grade LED components is expected to grow over the forecast period.
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Asia-Pacific is Expected to Witness the Highest Growth Rate
- Asia-Pacific is expected to witness highest growth rate owing to the growing adoption of high power LED lights in general lighting applications, mainly in India and China.
- In India, the government has implemented a series of policies and programs to support the development of LED lighting industry, among which the most important is SLNP (Street Light National Program)which is an initiative to 21 million streetlights with LED.
- According to yo the Power Minister of India, India is expected to be the first country in the world to use LEDs for all lighting needs by 2019, which would help the nation save over INR 40,000 crore a year.
- In China, the National Development and Reform Commission (NDRC), and the Ministry of Finance (MOF) have taken several measures to administer subsidies for proliferating LED lighting products.
- The Japanese government's long term goals incorporate the lighting projects and infrastructure related to the 2020 Olympics. Thus, the construction of numerous public buildings, general buildings, transportation, and gymnasiums is continually going on. The government plans to introduce LED lighting in these projects to attract international attention.
- Additionally, many Japanese LED lighting manufacturers demonstrated high power LED bay lights, billboard lights, and four-meter LED tubes at Lighting Japan 2015. The country is witnessing a strong demand for high power LED luminaires, which are capable of assisting commercial applications in saving long term costs.
- Furthermore, various smart city development projects are in the pipeline in countries such as China and India, which are anticipated to generate demand for high power LED lights. For instance, China aims to encourage 100 new smart cities from 2016 to 2020 to lead the country's urban planning and development. According to a report released by the Indian Minister of Urban and Housing Affairs, 148 projects have been completed until January 2018 under India's Smart Cities Mission.
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