Share on

Global LED Packaging Market Size, Share, Trends, Covid-19 Impact & Growth Forecast Report - Segmented By Package Type (Surface Mount Device Package/SMD, Chip on Board Package/COB, Chip Scale Package/CSP, and Others), Packaging Material (Lead Frames, Substrates, Ceramic Packages, Bonding Wire, Encapsulation Resins, and Other Packaging Materials), Application (Residential Lighting, Industrial Lighting, Outdoor Lighting, Automotive Lighting, Backlighting, and Others), Other General Lighting (Interior Lighting, Exterior Lighting), And Region (North America, Europe, APAC, Latin America, Middle East And Africa) – Industry Analysis From 2023 To 2028

Published: March, 2023
ID: 9890
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global LED Packaging Market Size (2023 to 2028)

The global led packaging market size is expected to be worth USD 20.60 Billion in 2023. It is expected to grow at a CAGR of 6% during the forecast period and reach a value of USD 27.57 Billion by 2028.

Led packaging is utilized for the outer leads to be linked to the electrode of LED chips, to protect the chips, and to improve their luminescence efficiency it. In the earlier days, LEDs came in cases made of metal, which are like transistors, with a glass window or lens to provide light and air. Meanwhile, modern indicator LEDs are packaged in plastic cases that are transparent molded in tubular or rectangular shapes and often tinted to match the color of the device.

MARKET DRIVERS:

In recent times, these LED packaging industries have been gaining popularity in the market with a considerable growth rate. The fact that numerous LED products that are utilized in cruise ship lights, industrial, hospital, and residential lighting illuminate their facades is the major influencing factor for the growth of the target market's popularity. Moreover, this growth in the popularity of the LED Packaging Market is providing immense revenue for the market which is resulting in the growth in the end-use industry.

The augmenting need for high-power-grade LED Packages for lighting applications and the rising demand for LED Packages in the display panel market are the major drivers for the growth of the Global LED Packaging Market. Also, the growing initiatives by various governments and the imposition of regulations for increasing the adoption of energy-efficient LEDs are further fuelling the growth of the target market over the forecast period. Furthermore, the mounting call for smart lighting solutions is touted to be a driving element in the growth of the LED Packaging Market in the coming years.

MARKET RESTRAINTS:

However, the impregnation in the market is the major restraint that is hampering the growth of the LED Packaging Market all around the world. In addition, the lack of common open standards in various regions of the world hinders the growth of the target market. Nonetheless, the rising demand for these packaging from the horticulture markets and the rising growth of the LED Filament Bulb Market are creating lucrative growth opportunities for the expansion of the payers in the Global LED Packaging Market.

Impact of COVID-19 on the LED packaging market:

The outbreak of coronavirus has had a negative effect on the global LED packaging market. It is because of the slowdown in the growth of the adoption of LEDs among consumers because of the economic recessions all around the world.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

CAGR

6%

Segments Covered

By Type of Package, Packaging material Outlook, Application, Other general lighting, & Region

Various Analyses Covered

Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global led packaging market has been segmented and sub-segmented into the following categories.

Global Led Packaging Market – By Type of Package:

  • Surface Mount Device Package (SMD)
  • Chip on Board Package (COB)
  • Chip Scale Package (CSP)

Global LED Packaging Market – By packaging material outlook:

  • Lead Frames
  • Substrates
    • Silicon Carbide
    • Silicon
    • Sapphire
  • Ceramic Packages
    • LEDs with Sintered Ceramic Package
    • LEDs with Ceramic Substrate & Silicon
    • LEDs with Ceramic Substrate & Glass
  • Bonding Wire
  • Encapsulation Resins
  • Other Packaging Materials

Global LED Packaging Market – By Application:

  • General Lighting
    • Residential Lighting
    • Industrial Lighting
    • Outdoor Lighting
  • Automotive Lighting
  • Backlighting
  • Other Applications

Global LED Packaging Market – By Other General Lighting:

  • Interior Lighting
  • Exterior Lighting

Global LED Packaging Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

In the regional analysis of the global LED packaging market, the Asia-Pacific market held the major share of the global market in the revenue aspect. The major factor that was driving the growth of the target market in this region is the presence of emerging and developed economies such as China, Japan, Taiwan, and South Korea, which are providing the major revenue because of the presence of key industry players in these nations. In addition, the implementation of various regulatory policies by the government in China encourages the adoption of these packaging technologies through incentives and subsidies that are for enhancing domestic production capacity. Further, the regional markets in North America and Europe are the other markets that are contributing to the growth of the global LED packaging market.

KEY MARKET PLAYERS:

The major players of the LED Packaging market are Nichia Corporation (Japan), Samsung (South Korea), Osram Licht AG (Germany), LG Innotek (South Korea), Cree, Inc. (US), Lumileds Holding B.V. (Netherlands), Seoul Semiconductor Co., Ltd (South Korea), Stanley Electric Co., Ltd.  (Japan), Everlight Electronics Co., Ltd. (Taiwan), Epistar Corporation (Taiwan), Toyoda Gosei Co., Ltd. (Japan), TT Electronics plc (UK), Kulicke and Soffa Industries, Inc. (Singapore), Dow Corning Corporation (US), Citizen Electronics Co., Ltd (Japan).

RECENT HAPPENINGS IN THE MARKET:

  • Toyoda Gosei Co., Ltd, one of the key players in the Global LED Packaging Market, is investing in the Uhuru Corporation which is a venture business that provides services and solutions with huge amounts of data in cloud computing.
  • EVERLIGHT has released the UVC LED Series ELUC3535NUB which is helpful for Medical Treatment, Water, and Air Purification/Sterilization.

Please wait. . . . Your request is being processed

FAQ's

1. What are the challenges in the LED packaging market?

Challenges include maintaining color consistency, ensuring uniform light distribution, addressing thermal issues, and keeping up with the evolving demands of the lighting industry.

2. What is the global outlook for the LED packaging market?

The LED packaging market is expected to grow due to the increasing adoption of LED lighting in various applications, including general lighting, automotive lighting, and displays.

3. What trends are driving the LED packaging market?

Trends in the LED packaging market include miniaturization, increased power density, improvements in thermal management, and the development of advanced packaging materials to enhance performance and reduce costs.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample