The North America LED packaging market is expected to register a CAGR of 7.28% during the forecast period, 2021 - 2028. The growth of the market is attributed to the growing demand for energy-efficient lighting systems, declining prices of LED products, and stringent government regulations in the region.
LEDs have gained a lot of attention owing to their optimum luminosity and color rendering for the solid-state lighting application, such as street illumination, display backlighting, and automotive lighting. LED packaging provide high luminous efficiency, controllable light patterns, and high color uniformity.
The report on the North America LED Packaging Market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
LED Packaging Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Chip-on-boards (COBs), Surface-mount Devices (SMDs), Chip Scale Packages (CSPs)) and End-User Verticals (Residential, Commercial, Other End-User Verticals) |
Geographic Scope |
US and Canada |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Lumileds Holding B.V., Dow Silicones Corporation, Citizen Electronics Co.,Ltd., Cree, Inc., Epistar Corporation |
Chip scale package (CSP) segment to account a large market share
Based on types, the market is divided as chip-on-board(COBs), surface-mount devices (SMDs) and chip scale packages (CSPs). The chip scale packages (CSPs) segment is expected to account for a large market share during the forecast period. The segment growth is attributed to rising demand for CSP LED architecture, which is the latest incarnation of flip-chip LEDs.
Vendors in the market are introducing new products to maintain their competitive advantage. For example, Samsung introduced LM101B CSP LEDs that uses a film phosphor in the conversion layer to reduce surface roughness and enable uniform control of thickness with small color dispersion. Moreover, some of the vendors offer CSP LEDs for specific application. For instance, OSRAM design CSP LEDs for high class retail lighting in brand fashion boutiques and ornament stores.
Commercial segment to exhibit a high CAGR
Based on end-user verticals, the market is segregated into residential, commercial, and others. The commercial segment is projected to exhibit a high CAGR during the forecast period. Rising demand for LED’s across the region in the offices, workplaces, malls, and multiplexes is driving the growth of the market segment. High-quality LED lights creates a healthy work environment and increases employee productivity in the work spaces. For any commercial space, factors such as power requirement, dimming status, IP ratings, efficiency, and power rating are quite crucial. Offices account for around 20% of the US total energy consumption. Out of this, 30% of the energy consumption is attributed to lighting.
The high-end commercial lighting market includes museums, galleries, and other exhibition lighting applications that primarily use downlights, projectors, and reflectors. ?Variou manufacturers are also actively developing LED lighting business.
The US is expected to account a considerable market share
Based on geographies, the market is segmented into US and Canada. The US is expected to account for a considerable market share during the forecast period. The country’s market growth is attributed to the increasing use of LEDs in various sectors of the country, such as commercial buildings, offices, ornament stores, museums and art galleries.
Some of the major players in the market are Lumileds Holding B.V., Dow Silicones Corporation, Citizen Electronics Co.,Ltd., Cree, Inc., Epistar Corporation.
The North America LED packaging market is highly competitive and has several players. In terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups to strengthen their product capabilities.
Some of the major players in the market are Lumileds Holding B.V., Dow Silicones Corporation, Citizen Electronics Co.,Ltd., Cree, Inc., Epistar Corporation.
The North America LED packaging market is highly competitive and has several players. In terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups to strengthen their product capabilities.
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