Global LED Packaging Market is expected to reach US$ 34.29 Bn by 2026 from US$ 18.2 Bn in 2016 at a CAGR of 6.54%. The factors such as increasing demand for high power grade LED packages for lighting applications, rising demand for LED packages in the display panel market, growing government initiatives and regulations for adoption of energy-efficient LED lighting and increasing demand for smart LED lighting solutions are responsible for the growth of the global LED packaging market.
LED PACKEGING MARKET
The Global LED Packaging Market is segmented by package type, packaging material, application and geography. The market on the basis of package type is segmented by surface mount device (SMD), chip on board (COB), chip scale package (CSP). The market is governed by surface mount device (SMD) and chip scale package (CSP) is projected to grow at the highest CAGR during the forecast period due to reduced weight, thin profile and reduced package footprint. The market by packaging material is segmented by lead frames, substrates, bonding wire, encapsulation resins. The substrates sub-segment had governed the market in 2016 and is projected to grow at the highest CAGR during the forecast period.
The market by application is segmented by general lighting, automotive lighting, and backlighting. The general lighting sub-segment is projected to have the largest Global LED Packaging Market size due to increasing demand for residential and industrial lighting. Automotive lighting sub-segment is projected to grow at a high CAGR during the forecast period due to increasing use of LEDs in automotive headlights and interiors. Asia Pacific had the largest market in 2016 and is projected to grow at the highest CAGR during the forecast period due to flourishing automotive industry.
Key Highlights:
• Global LED Packaging Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the LED Packaging market.
• Global LED Packaging Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global LED Packaging Market strategic analysis with respect to individual growth trends, future prospects along with contribution of various sub-market stakeholders have been considered under the scope of study.
• LED Packaging market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the LED Packaging market are also profiled.
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