Mountain View, CA / August 4, 2014 —Strategies Unlimited has just published its first report investigating the global LED module market, The Worldwide Market for LED Modules. This report analyzes the market for LED modules used in backlighting and lighting, and provides detailed forecasts for modules used in nine lighting applications including troffers, downlights, street lights, and retrofit lamps. This report also breaks down the lighting market by major region and power of the LEDs used in the module.
According to Strategies Unlimited, backlighting will comprise a larger portion of the modules market through 2018, at which point saturation and an increased usage by luminaire manufacturers of third party LED modules will allow for the lighting market to surpass it. Revenues for LED modules in lighting applications are expected to have a CAGR of 32.8% and reach a total value of $7.8 billion by 2019.
The lighting end applications that will see the largest growth in LED modules will be troffers, area lights, and street lights. According to Stephanie Pruitt, Research Analyst at Strategies Unlimited, “The large installed base of troffers and high/low bay luminaires means that although the penetration of modules within LED troffers and LED area lights is lower than for downlights, the sheer size of the installed base means more potential for LEDs and strong growth for LED modules.”
Prices for LED modules in lighting will fall as the overall price of the luminaire also falls. However, it is anticipated that as LED modules continue to evolve, allowing for simplified design and production as well as interchangeability, they will make up a larger portion of the overall luminaire cost. According to Pruitt “What we are seeing now is a split in the market between basic packaged LEDs on a PCB to really high-end modules which also have optics and thermal management on board. Currently there is not much standardization in the market and so the majority of manufacturers are producing modules on a custom basis. As the LED lighting market continues to grow, more integration will help with the adoption and streamlining of LED modules which will allow for healthy growth.”
North America and Europe will see strong LED modules growth in professional applications that require high light quality. The large installed base and continued new construction in China will drive unit growth there, but its lower ASPs mean that it will only be the third largest market in revenue terms by 2019.
About Strategies Unlimited
Strategies Unlimited, a division of PennWell Corporation, is the world leader in market research in LEDs and lighting, lasers and photonics devices, and beyond. With a unique blend of in-depth historical market knowledge and technological expertise, Strategies Unlimited produces highly detailed market reports, custom studies, and provides consulting services. Additionally, Strategies Unlimited presents industry events, including the Strategies in Light series and The LED Show, to large audiences worldwide. For additional information about Strategies Unlimited, visitwww.strategies-u.com.
About PennWell Corporation
Founded in 1910 in Tulsa, Oklahoma, PennWell Corporation is a privately held and highly diversified business-to-business media and information company that provides quality content and integrated marketing solutions for the following industries: Oil and gas, electric power generation and delivery, hydropower, renewable energy, water and wastewater treatment, waste management, electronics, semiconductor manufacturing, optoelectronics, fiber-optics, aerospace and avionics, LEDs and lighting, fire and emergency services, public safety, and dental. PennWell publishes over 130 print and online magazines and newsletters, conducts 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, websites, research and database services. In addition to PennWell's headquarters in Tulsa, Oklahoma, the Company has major offices in Nashua, New Hampshire; London, England; Houston, Texas; San Diego and Mountain View, California; Fairlawn, New Jersey; Moscow, Russia; and Hong Kong, China. For additional information about PennWell Corporation, visitwww.pennwell.com.