LED Drivers Market Size was valued at USD 6.18 billion in 2022 and is expected to reach USD 28.78 billion by 2030, and grow at a CAGR of 21.2% over the forecast period 2023-2030.
LED drivers safeguard LEDs against voltage or current fluctuations. They are intended to operate on low voltage, direct current electricity. They are used to maintain the rated voltage and current flowing through an LED circuit. LED transformers are used to protect LEDs in the residential, industrial, and commercial sectors.
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KEY DRIVERS:
Acceptance of Lighting Control Standard Protocols
Increasing Demand for Energy-Efficient Lighting Systems.
LED Lighting is becoming more popular in general lighting applications.
RESTRAINTS:
False belief about the high cost of LED driver installation.
OPPORTUNITIES:
The innovation of programmable LED drivers.
Wireless Technology Development
CHALLENGES:
Various manufacturers' lack of common standards.
Covid 19 is rapidly spreading throughout the world. During this time, many manufacturing facilities are experiencing a drop in demand. The shutdown of industries has resulted in a lower supply rate in the market. This virus outbreak is having an impact on the LED driver market. Shipment and supply disruptions are significant market challenges. China is a regional LED driver market player. It is the location of the virus's origin. It is the market's most impacted regional player. The decline in semiconductor demand is affecting the growth of LED drivers. However, the LED driver market demand is expected to skyrocket beginning in 2022. The market is experiencing tremendous growth as a result of increased production. The number of government initiatives for smart cities is growing. LED lighting is used in most smart cities rather than traditional lighting. It is resulting in a massive adoption of LED drivers in recent years. LED Drivers Market Growth is expected to accelerate in the coming years.
Based on supply type, the LED drivers market is segmented into Constant Current, and Constant Voltage. During the forecasted period, constant current LED drivers are expected to be the dominant LED driver by driving method. Constant current LED drivers have an advantage over constant voltage LED drivers because they do not exceed the maximum current specified for the LEDs, preventing burnout/thermal runaway.
Based on luminaire type, the LED drivers market is segmented into Type A-Lamps, Reflectors, Integral LED Modules, T-Lamps, and Decorative Lamps. Type-A lamps are expected to dominate the market for LED drivers segmented by luminaire type. Lamps with integrated modules are expected to grow the fastest, as fully integrated modules inside an LED system are preferred by end users over conventionally assembled LED systems due to cost savings.
Based on component, the LED drivers market is segmented into Discrete Component, Driver IC, and Others. Based on application, the LED drivers market is segmented into Automotive, Lighting Outdoor Display, and Consumer electronics.
BY SUPPLY TYPE
Constant Current
Constant Voltage
BY LUMINAIRE TYPE
Type A-Lamps
Reflectors
Integral LED Modules
T-Lamps
Decorative Lamps
BY COMPONENT
Discrete Component
Driver IC
Others
BY APPLICATION
Automotive
Lighting Outdoor Display
Consumer Electronics
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The LED driver market is divided into three regions: Asia Pacific, Europe, and North America. Asia Pacific will outgrow the rest of the region. Regional government initiatives are fueling rapid growth. High energy consumption results in high electric bills. The government is launching a slew of initiatives to rein in spending. North America is the second-largest region with the highest growth rate. LED drivers are becoming more popular. Furthermore, investment in North America is massive. The presence of key players in the LED Drivers Market will result in new developments. Furthermore, Europe has a high potential for LED drivers. LED Drivers Market Forecast indicates significant research and innovation opportunities in the coming years.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the LED drivers market are Hatch Lighting, AC Electronics, NXP Semiconductors, Signify Holding, Eaton Corporation, Autec Power Systems, MEAN WELL Enterprises, Crestron Electronics, Lutron Electronics, Hubbell Incorporated & Other Players.
AC Electronics-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 6.18 Billion |
| Market Size by 2030 | US$ 28.78 Billion |
| CAGR | CAGR of 21.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Supply Type (Constant Current, Constant Voltage) • By Luminaire Type (Type A-Lamps, Reflectors, Integral LED Modules, T-Lamps, Decorative Lamps) • By Component (Discrete Component, Driver IC, Others) • By Application (Automotive, Lighting Outdoor Display, Consumer Electronics) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Hatch Lighting, AC Electronics, NXP Semiconductors, Signify Holding, Eaton Corporation, Autec Power Systems, MEAN WELL Enterprises, Crestron Electronics, Lutron Electronics, and Hubbell Incorporated. |
| Key Drivers | • Acceptance of Lighting Control Standard Protocols • Increasing Demand for Energy-Efficient Lighting Systems. |
| RESTRAINTS | • False belief about the high cost of LED driver installation. |
The market value is expected to reach USD 28.78 billion by 2030.
False belief about the high cost of LED driver installation factor is limiting the LED Drivers Market's expansion.
The key players in the LED drivers market are Hatch Lighting, AC Electronics, NXP Semiconductors, Signify Holding, Eaton Corporation, Autec Power Systems, MEAN WELL Enterprises, Crestron Electronics, Lutron Electronics, and Hubbell Incorporated.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Content:
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. LED Drivers Market Segmentation, by supply type
8.1Introduction
8.2 Constant Current
8.3 Constant Voltage
9. LED Drivers Market Segmentation, by luminaire type
9.1Introduction
9.2 Type A-Lamps
9.3 Reflectors
9.4 Integral LED Modules
9.5 T-Lamps
9.6 Decorative Lamps
10. LED Drivers Market Segmentation, by component
10.1 Introduction
10.2 Discrete Component
10.3 Driver IC
10.4 Others
11. LED Drivers Market Segmentation, by application
11.1 Introduction
11.2 Automotive
11.3 Lighting Outdoor Display
11.4 Consumer electronics
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13.Company Profiles
13.1 Hubbell Incorporated
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Hatch Lighting
13.3 AC Electronics
13.4 NXP Semiconductors
13.5 Signify Holding
13.6 Eaton Corporation
13.7 Autec Power Systems
13.8 MEAN WELL Enterprises
13.9 Crestron Electronics
13.10 Lutron Electronics
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15.Conclusion
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