Global LED Chip Market Overview:
The latest report by IMARC Group, titled “LED Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global LED Chip Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global LED chip market reached a value of US$ 21.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 47.8 Billion by 2027, exhibiting a CAGR of 13.96% during 2022-2027.
A light-emitting diode (LED) chip is an essential component of various LED light fixtures, such as tubes and bulbs. It is generally manufactured using gallium nitride and consists of multiple semi-conductor layers that allow the flow of electrons and protons freely. Some of the popular LED chip variants available in the market include chip on board (COB), surface mounted diode (SMD), multiple chips on board (MCOB) and multiple chips and cups on board (MCCOB). The demand for LED chips across the globe is rising due to the easy availability of LED lighting systems through offline and online channels and the rising electricity costs.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Due to the temporary halt in construction and renovation activities on account of the rapid outbreak of coronavirus disease (COVID-19) and lockdown restrictions had negatively affected the LED chip market.
However, with the increasing need for disinfection and purification across healthcare facilities, there has been a considerable rise in the adoption of ultraviolet (UV) LEDs for medical tools sterilization, surface disinfection and air purification, significantly escalating the demand for LED chips. The gradual reopening of businesses and developments in the e-commerce industry across the globe are further fueling the market growth.
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Global LED Chip Market Trends:
The global market is primarily driven by the increasing demand for energy-efficient lighting solutions. This is supported by an enhanced focus on sustainable development among the masses. Furthermore, the rising initiatives undertaken by the government of multiple countries for promoting the adoption of energy-efficient lighting systems is catalyzing the market growth.
Additionally, the increasing investments by private and public firms in smart cities development are positively influencing the product demand. Moreover, the growing application of LED backlighting in the mobile phones and television sets is also contributing to the market growth. Some of the other factors driving the market growth include the growing adoption of LED lighting systems in outdoor spaces due to their capacity to withstand harsh conditions and extensive research and development (R&D) activities conducted by key players.
Global LED Chip Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- AVA Technologies Inc.
- Bright LED Electronics Corporation
- Hitachi Cable
- Huga Optech
- Dowa Electronics Materials Co Ltd.
- Epistar Corporation
- Nichia Corporation
- Formosa Epitaxy Inc.
- Goldeneye INC.
- Optek Technology Ltd.
- Osa Opto Light Gmbh
- Osram Opto Semiconductors
Breakup by Product:
- Blue LED Chips
- Red LED Chips
- Green LED Chips
- Infrared LED Chips
- Yellow LED Chips
- White LED Chips
- Signs and Signal
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
- Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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