Global Light-Emitting Diode (LED) Lighting Driver Market Size to Reach USD 40.93 Billion in 2032 | Emergen Research

Vancouver, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The global LED lighting driver market size reached USD 7.62 Billion in 2020 and is expected to register a revenue CAGR of 15.2% during the forecast period, according to latest analysis by Emergen Research. Growing industrialization in developing countries as well as increasing government efforts to boost adoption of more cost-effective and energy-efficient LED lighting are some key factors driving market revenue growth.

Increased government emphasis on building smart cities coupled with increasing industrialization is expected to continue to boost the use of LED lighting drivers for street lights, tunnel lighting, highway lighting, and city lighting, among others. Increasing reconstruction of buildings and infrastructure is also expected to fuel revenue growth of the market during the forecast period.

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However, high cost of setting up LED lighting drivers and lack of standardization are factors expected to hamper global LED lighting driver market growth to some extent during the forecast period.

Scope of Research

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Major Companies and Competitive Landscape

The global LED lighting driver market is fairly fragmented, with a number of large and medium-sized market players accounting for majority market revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, adopting more advanced technologies in LED lighting drivers, developing, testing, and introducing new and more efficient LED lighting drivers in the market. Some of the major companies included in the global LED lighting driver market report are:

• Delta Electronics, Inc.
• Signify Holding B.V.
• TCI Telecomunicazioni Italia S.R.L.
• Lifud Technology Co., Ltd.
• ERP Power LLC
• Mean Well Enterprises Co., Ltd.
• Tridonic GmbH & Co KG
• Inventronics Inc.
• SELF Electronics Co., Ltd.
• Eaglerise Electric & Electronic Ltd.

Strategic Development

In June 2021, Signify Holding B.V. launched the Advance Xitanium 150W dimmable outdoor LED driver. LED-based light sources are an ideal choice for all lighting applications since these are long-lasting and require minimal maintenance. Such solutions require durable drivers that suit the long lifetime of LEDs for optimal efficiency. Advance Xitanium LED Outdoor Driver range includes a variety of components developed specifically to power LED solutions in outdoor applications. These drivers are developed for hard-wired integration into outdoor luminaires for the most robust applications.

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Some Key Highlights From the Report

• Linear regulator ICs segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. With a constant current linear regulator, LED drivers can be turned on and off immediately. LED performance can be readily and consistently regulated by changing the power output through a capacitor and LED brightness through pulse width modulation (PWM). To prevent  ICs from overheating, linear regulator incorporates a temperature control feature.
• Indoor lighting segment is expected to register significantly robust revenue growth over the forecast period owing to increasing use of LED lighting drivers in a range of indoor applications, including commercial lighting, industrial lighting, entertainment lighting, residential lighting, office lighting, and indoor sports facility lighting.
• North America is expected to register steady revenue growth rate during the forecast period. As a result of steady urbanization and changing lifestyle, LED lighting is becoming increasingly popular in construction sector and in vehicles and related industries. Improving living standards and high spending capacity and need to improve home and office aesthetics are driving steady increase in usage of LED lighting drivers.

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Emergen Research has segmented the global LED lighting driver market on the basis of integrated circuit, dimming method, type, end use, and region:

• Integrated Circuit Outlook (Revenue, USD Billion, Volume in Tons; 2019–2032)
  • DC/DC ICs
  • RGB ICs
  • Linear Regulator ICs
  • Others
• Dimming Method Outlook (Revenue, USD Billion, Volume in Tons; 2019–2032)
  • Dimmable
    1. DALI
    2. Traic
    3. 1-10V
    4. Trailing-edge
  • Non-dimmable (Standard)
• Type Outlook (Revenue, USD Billion, Volume in Tons; 2019–2032)
  • Conventional
  • Smart
• End Use Outlook (Revenue, USD Billion, Volume in Tons; 2019–2032)
  • Indoor Lighting
    1. Industrial Lighting
    2. Commercial Lighting
    3. Residential Lighting
    4. Entertainment Lighting
    5. Office Lighting
    6. Indoor Sports Facilities Lighting
  • Outdoor Lighting
    1. Street Lights
    2. Tunnel Lighting
    3. Highway Lighting
    4. City Lighting
    5. Outdoor Sports Facilities Lighting
  • Automotive Lighting
  • Others
• Regional Outlook (Revenue, USD Billion, Volume in Tons; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. BENELUX
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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