As per the U.S. Department of Energy (DoE), “Residential LEDs — especially ENERGY STAR-rated products — use at least 75% less energy, and last 25 times longer, than incandescent lighting.”. LEDs are not only energy-efficient, but also longer lasting and cheaper than traditional lights. The DoE says that compared to 1,000 hours’, 8,000–10,000 hours’, and 30,000 hours’ useful life of an incandescent bulb, compact fluorescent lamp, and linear fluorescent lamp, respectively, an LED light has a useful life of around 50,000 hours. In addition, an LED bulb can be bought for as less as $1!
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This is why high-power LEDs are already replacing conventional bulbs in general lighting applications, such as spotlighting, downlighting, tunnel lighting, area lighting, and industrial lighting. For instance, in February 2009, a project to replace all 140,000 conventional streetlights in Los Angeles was started. Similarly, since the launch of the Unnat Jyoti by Affordable LED for All (UJALA) scheme in January 2015, 366,679,478 LEDs had been distributed in India till early November 2020.
Such high-power lighting sources are available in 1–2.9-, 3–4.9-, 5–10-, and >10-Watt (W) ratings. Among these, 3–4.9 W bulbs have witnessed the widest adoption till now, especially in automotive, general, and sign and signal lighting applications. Moreover, these lights are becoming popular for indoor and outdoor illumination in commercial, residential, and industrial settings. In the coming years, the fastest rise in demand would probably be seen by 5–10 W high-power LEDs, as they are being increasingly used for entertainment lighting and outdoor applications.
This market research report provides a comprehensive overview of the high power LED market
- Historical and the present size of the high power LED market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential