Global LED Packaging Market Size to worth USD 22.5 Billion by 2033: Market Insight Report

Global LED Packaging Market Size to worth USD 22.5 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global LED Packaging Market Size is Expected to Grow from USD 15.4 Billion in 2023 to USD 22.5 Billion by 2033, at a CAGR of 3.86% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global LED Packaging Market Size, Share, and COVID-19 Impact Analysis, By Power Range (Low-&Mid-Power LED Packages and High-Power LED Packages), By Core Type (Single Core and Multi-core), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

LED packaging refers to the process of enclosing LED chips within a protective housing or package that offers electrical connections, thermal management, and protection. It plays a crucial role in determining the performance, reliability, and functionality of LEDs. The imposition of regulations for promoting the use of energy-efficient LEDs for environmental benefits is positively influencing the LED packaging market. The surging need for mini and micro-LED technologies owing to technological advancements, energy efficiency, and IoT connectivity are escalating the market growth opportunity for LED packaging. The growing demand for smart lighting systems due to substantial energy savings provided by businesses and homeowners as compared to traditional lighting alternatives is driving the market. Further, the IoT-enabled lighting fixtures are propelling the LED packaging market. On the contrary, the saturation of LED packaging creating challenges towards product acceptance and profit margins is responsible for restraining the market.  

The high-power LED packages segment is expected to register the fastest CAGR growth during the forecast period.

Based on the power range, the global LED packaging market is divided into low-&mid-power LED packages and high-power LED packages. Among these, the high-power LED packages segment is expected to register the fastest CAGR growth during the forecast period. High power LEDs, which are mostly used for industrial and outdoor lighting, focus on efficiency and reducing the forward voltage (Vf) to provide a greater lumen/watt. The growing need for energy-efficient lighting and its use in smartphones are driving the market in the high-power LED packages segment.

The multi-core segment is anticipated to hold the largest market share during the forecast period.

Based on the core type, the global LED packaging market is divided into single core and multi-core. Among these, the multi-core segment is anticipated to hold the largest market share during the forecast period. The requirement for multicore LED packaging has increased as a result of numerous sectors, growing demand for effective lighting solutions. The increasing popularity of multi-core LEDs for uses requiring robust, reliable lighting, including industrial light, streetlights, and automobile lighting is propelling the market growth. 

Europe is projected to hold the largest share of the global LED packaging market over the forecast period.

Europe is projected to hold the largest share of the global LED packaging market over the forecast period. The government initiatives & regulations for adopting energy-efficient LEDs as well as the demand for smart lighting solutions are propelling the market in the region. Further, the surging need for efficient UV LED packages in UV curing and biomedical research is bolstering the market demand.

Asia Pacific is predicted to grow at the fastest CAGR in the LED packaging market over the forecast period. The growing need for smart lighting solutions and energy efficiency are significantly contributing to driving the market. The rapid advancement in LED package applications, which are expected to spur innovation and consumption, is promoting the market in the region.

Competitive Analysis

Major key players in the LED packaging market include NICHIA CORPORATION, ams-OSRAM AG., Samsung, Lumileds Holding B.V., Seoul Semiconductor Co., Ltd., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, ams OSRAM, a global leader in intelligent sensing and emitting, and the Malaysian Investment Development Authority (MIDA) announced mutual support for the continued investment and expansion in Malaysia. Through a Collaborative Agreement, MIDA demonstrates significant support for ams OSRAM’s initiatives in Malaysia.

• In August 2021, NICHIA, the world’s largest LED Manufacturer and inventor of the high-brightness blue and white LEDs, announced a joint-product development collaboration with Zumtobel, a leading international supplier of holistic lighting solutions, to provide LED lighting with advanced human-centric lighting benefits.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global LED packaging market based on the below-mentioned segments:

Global LED Packaging Market, By Power Range

• Low-&Mid-Power LED Packages
• High-Power LED Packages

Global LED Packaging Market, By Core Type

• Single Core
• Multi-core

Global LED Packaging Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa