Light Engine Market – Snapshot

Global light engine market is expected to reach US$ 6,384.9 Mn by 2026. The market is projected to expand at a CAGR of 9.61% during the forecast period from 2018 to 2026. According to the report, the global light engine market is expected to continue to be influenced by a range of factors such as rising popularity and adoption of LED lighting worldwide. Additionally, multiple regulations passed by government bodies for increasing the adoption of LED lighting is helping the expansion of the global light engine market. The market in North America is estimated to expand at a CAGR of over 10% through 2026.

light engine market

Commercial Sector is expected to be More Lucrative for the Global Light Engine

In terms of application, the global light engine market can be classified into residential, industrial, commercial, and others. The residential sector is expected to contribute significantly to revenue by 2026, owing to increased urbanization and rise in the number of smart city projects across the globe. Rise in adoption of LED lighting in the residential sector is one of the primary reasons for the market expansion over the forecast period. The commercial segment is anticipated to expand at a significant CAGR over the forecast period. Multiple initiatives undertaken by the government for creating awareness regarding LED lighting and removal of traditional lamps is one of the primary reasons for the expansion of the commercial sector during the the forecast period from 2018 to 2026. For instance, in 2017, the U.S. Energy Information Administration in one of its report stated the importance of LED lighting across multiple applications and discussed the benefits of adopting it in the commercial sector. This report is expected to have a positive impact on the implementation of LED lighting in the commercial sector in the coming years.

Rigid Segment is expected to dominate the Light Engine Market around the Globe

Based on form, the light engine market can be segmented into flexible and rigid. The rigid segment can be further divided into round, linear, and others. Owing to the increased use of flexible light engines in residential and commercial sectors, the market is projected to expand at significant rate over the forecast period. Moreover, the prominent use of linear and round light engines in multiple areas across residential, commercial, and industrial sectors is likely to have a significant positive impact on the rigid segment of the global light engine market. Furthermore, the increasing use of rigid light engines across industries such as automotive and horticulture is expected  the rigid segment of the global light engine market. Moreover, increased use of LED lighting in street lighting across the globe is also benefitting the rigid segment.

North America to Continue to Hold Significant Share in Overall Market

North America is expected to hold substantial market share of the light engine market during the forecast period. This is mainly due to the presence of well-established players across the region. North America is home to many well-established players from the light engine domain including General Electric Company, Cree Inc, Fulham Co., Inc., and Fusion Optix, Inc. Furthermore, North America is witnessing higher adoption of the light engine, owing to the continuous advancements in light engines by well-stablished lighting providers in the region and multiple initiatives taken by governments for increasing the adoption of LED lighting. For instance, in 2016, the California Energy Commission adopted new standards updating the 2015 Appliance Efficiency Regulations for lighting appliances. The updates will roll out in two tiers with Tier 1 effective by January 1, 2018 and Tier 2 to be effective by July 1, 2019. These updates are significantly focused on the optimal adoption of LED-based solutions in California. This initiative is expected to have a positive impact on the light engine market in North America.

The Asia Pacific region is expected to hold a significant market share in 2026. China, India, and Japan are anticipated to play a significant role in the region’s prominent share. The factors contributing to the expansion in Asia Pacific are multiple initiatives taken by numerous government bodies for promoting the use of LED lighting. For instance, ‘Ujala,’ an initiative by the Indian government for boosting LED adoption across India, is helping the adoption of LED lighting across the country. Additionally, in 2017, as per the Street Light National Program of the Indian government, 21 lakh LEDs were installed across India. Such initiatives are expected to drive the light engine market in the Asia Pacific region. Furthermore, the increasing population of China and the rising adoption of LED lighting in the country is estimated to play a significant role for light engine market in the region.

Philips Lighting Holdings B.V., OSRAM Licht Group, Fulham Co., Inc., Tridonic, MaxLite, Inc., General Electric Company, Thomas Research Products, Fusion Optix, Inc., RS Components Pty Ltd., and Cree Inc are some of the major players operating in the light engine market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling. Various market players are establishing partnerships, entering in strategic M&A, and expanding to enhance the light engine offerings worldwide.

Light Engine Market - Overview

Light Engine Market report provides analysis of the light engine Market for the period 2016–2026, wherein the period from 2018 to 2026 is the forecast period and 2017 is considered as the base year. Data for 2016 has been included as historical information. The report covers all the trends and technologies that play a major role in the expansion of the light engine market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market expansion during this period. The study provides a holistic perspective on the market’s expansion in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The report highlights key trends affecting the market on a global scale. Furthermore, prominent countries/regions covered in the report include the U.S, Canada, Germany, France, the U.K., India, China, Japan, GCC countries, South Africa, and Brazil.

This report analyzes and forecasts the light engine market at the global and regional level. The market has been forecasted based on revenue (US$ Mn) and from 2018 to 2026. The study includes drivers and restraints of the global light engine market. It also covers the impact of these drivers and restraints on the light engine market during the forecast period.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global light engine market. Porter’s five forces model for the light engine market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.

Global Light Engine Market: Taxonomy

This research study on the global light engine market provides a detailed cross segment and cross country analysis based on the different segments by application and form. Based on application, the global light engine market can be segmented into residential, commercial, industrial, and others (square and custom light engines). In terms of form the global light engine market can be classified into flexible and rigid. The rigid segment can be further divided into linear, round, and others.

Global Light Engine Market: Research Methodology

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, market reports, and Factiva.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on the market size, market trends, growth trends, competitive landscape, and outlook, etc. These help us to validate and strengthen secondary research findings. These also help to develop the analysis team’s market expertise and understanding.

Global Light Engine Market: Competitive Dynamics

The report profiles well-established players including Philips Lighting Holdings B.V., OSRAM Licht Group, Fulham Co., Inc., Tridonic, MaxLite, Inc., General Electric Company, Thomas Research Products, Fusion Optix, Inc., RS Components Pty Ltd., and Cree Inc.  These players are at the forefront of innovations in the light engine market. For instance, in December 2017, Cree Inc. launched XLamp XD16, an extreme density LED that provides five and a half times higher lumen density as compared to its previous LED solutions, which is suggested to have a positive impact on its light engine offerings. Furthermore, in June 2017, Osram Licht Group acquired LED Engin, a provider of LED emitters, optics, and light engines, to enhance its current light engines offerings. Additionally, in May 2017, Tridonic discussed plans to form industry standards for ‘IoT-ready’ light fixtures along with DesignLights Consortium, a lighting solutions company and Enlighted, an IoT solutions company. This initiative is expected to have a positive impact on the expansion of its LED based solutions, which can have a significant impact on the expansion of its light engine offerings.

Global Light Engine Market

Global Light Engine Market,, by Application

  • Residential
  • Commercial
  • Industrial
  • Others

Global Light Engine Market,, by Form

  • Flexible
  • Rigid
    • Linear
    • Round
    • Others

Global Light Engine Market,, by Geography

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • The U.K
    • Germany
    • Rest of Europe
  • Asia Pacific (APAC)
    • India
    • Japan
    • China
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America