LED Drivers Market Research Report - Global Forecast till 2027

LED Drivers Market Research Report: By Type (Constant Voltage and Constant Current), by Component (Driver IC, Discrete Component and others), by Luminaires Type (Type A Lamps, Decorative Lamps, T Lamps, Reflectors, and others), By Application (Commercial Lighting, Industrial Lighting, Automotive Lighting, Residential Lighting, and others), by Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

ID: MRFR/SEM/7193-HCR | February 2021 | Region: Global | 111 pages

Please note that the assessment period of report has been updated from 2019-2026 to 2020-2027. Cordially fill the sample form for updated data.

Market Synopsis


Global LED Drivers Market is expected to grow from USD 4,996.05 Million in 2019 to USD 17,522.74 Million by 2026, at a CAGR of 25.25%, during the forecast period.


LEDs are lighting devices that consume low energy and last longer than their traditional counterparts. They require specialized power supplies such as LED drivers. An LED driver is a source of power supply which is used to regulate the power required for LED. It offers benefits such as provisioning of low voltage and protection of LED bulbs. An increase in the adoption of LED lighting, rising demand for energy-efficient lighting systems, and the growing number of smart buildings are some of the key drivers for the LED drivers market. During the forecast period, the advancement in wireless technologies is expected to boost the market growth. However, the lack of industry-defined standards is expected to hinder the market growth.


Global LED Drivers Market has been segmented based on Type, Component, Luminaires Type, Application, and Region.


By Type, the market has been segmented into constant voltage and constant current. The constant current segment is projected to hold the larger market owing to the benefits it offers such as a more consistent brightness and avoidance of burnout/thermal runaway. For instance, in 2019, Helvar—an intelligent lighting solutions provider—launched a new product line of small-sized LED drivers—MINI. These compact SELV60 LED drivers are apt for compact spaces and widely used in smaller light fittings and spot downlights.


By component, the market has been segmented into driver IC, discrete component, and others. The driver IC segment dominated the market in 2018 and it is expected to register the highest CAGR during the forecast period.


By luminaires type, the market has been segmented into type A lamps, decorative lamps, T lamps, reflectors, and others. The type-A lamps segment accounted for the largest market share, however, the T lamps segment is expected to register the highest CAGR during the forecast period as these lamps are cost effective as compared to traditional LED lamps.


By application, the market has been segmented into commercial lighting, industrial lighting, automotive lighting, residential lighting, and others. Globally, the commercial lighting segment is expected to hold a larger market. The rise in smart street lighting projects drives the demand for LED drivers. However, the automotive lighting segment is expected to register the highest CAGR during the forecast period.

Global LED Drivers Market


  LED Drivers Market


Source: MRFR Analysis


Segmentation


Global LED Drivers Market has been segmented based on Type, Component, Luminaires Type, Application, and Region.


Based on the type, the market has been segmented into constant voltage and constant current.


Based on component, the market has been segmented into driver IC, discrete component, and others.


Based on luminaires type, the market has been segmented into type A lamps, decorative lamps, T lamps, reflectors, and others.


Based on application, the market has been segmented into commercial lighting, industrial lighting, automotive lighting, residential lighting, and others.


By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.


Regional Analysis


The global market for LED drivers is estimated to grow at a significant rate during the forecast period from 2019 to 2026. The geographical analysis of the LED drivers market has been done for North America, Europe, Asia-Pacific, and the rest of the world. 


Asia-Pacific is expected to hold the largest share in the global LED drivers market from 2019 to 2026. The major market growth factors include declining prices of LED lighting, rapid urbanization and changing lifestyles of people, and increase in the number of government initiatives to promote energy-saving lighting. Furthermore, the rapid development of the automotive lighting industry in the region also drives the demand in the LED drivers market.


Europe is the second-largest market for LED drivers owing to the high concentration of market players and easy availability of proficient technical expertise. Moreover, the convergence of IoT and lighting has promoted its adoption in the smart buildings market in Europe.


Competitive Analysis


The Key Players have adopted product launches, geographic expansion, collaboration, and partnership as a part of their growth strategy to further increase their share in the global LED drivers market. In 2019, Environmental Lights—an LED lighting manufacturer—launched new, UL Listed, full-capacity LED driver—VLB. In 2016, Fulham Company Group—a provider for lighting components and electronics—completed the acquisition of Lumotech's LED driver business to enhance its presence in Europe.


Key Players


The Prominent Players in the Global LED Drivers Market are Osram GmbH (Germany), Harvard Technology Ltd. (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric Company (US), Cree, Inc. (the US), ROHM Semiconductors (Japan), ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands), Lutron Electronics Co., Inc. (US), NXP Semiconductors N.V. (Netherlands), and STMicroelectronics N.V. (Switzerland).


Intended Audience



  • LED drivers Manufacturers

  • LED providers

  • Standard making bodies

  • Equipment distributors and suppliers

  • Technology providers & investors

  • Research institutes, organizations, and consulting companies



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2026: USD 17,522.74 Million
  • 2027: Significant value
  •   CAGR   25.25% (2019-2026)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Component, Luminaires Type and Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Osram GmbH (Germany), Harvard Technology Ltd. (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric Company (US), Cree, Inc. (the US), ROHM Semiconductors (Japan), ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands), Lutron Electronics Co., Inc. (US), NXP Semiconductors N.V. (Netherlands), and STMicroelectronics N.V. (Switzerland).
      Key Market Opportunities   increase in the penetration of LED lighting in building, construction and automotive industries
      Key Market Drivers

  • increase in the adoption of LED lighting
  • rising demand for energy-efficient lighting systems
  • growing number of smart buildings


  • Frequently Asked Questions (FAQ) :


    Asia-Pacific is recorded to have acquired the largest share in the global LED drivers market.

    Europe has become the second-largest market for LED drivers because of the high concentration of market players as well as easy accessibility of proficient technical expertise.

    Type, Component, Luminaires Type, Application are the segments involved in the segmental analysis of the market.

    Helvar is the company that is assisting the market’s growth currently by launching a new product line of small-sized LED drivers—MINI.

    ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands) are the top names in key players flourishing the market with substantial growth.