Asia-Pacific Is expected to be the Fastest-Growing Market during the Forecast Period 2018–2024


Posted July 13, 2020 by Gauri44

Global LED Drivers Market is expected to grow from USD 4,696.05 Million in 2018 to USD 18,522.74 Million by 2025, at a CAGR of 31.58%, during the forecast period.

 
Pune, India, 14 December 2019, MRFR Press Release/- Market Research Future published a half-cooked research report on the global LED drivers market.

Regional Analysis
The geographic analysis of the global LED drivers market has been done for North America, Europe, Asia-Pacific, and the rest of the world.

The North American market has been segmented into the US, Canada, and Mexico. The regional market is expected to account for a significant share of the global LED drivers market during the review period. The growth of the market in North America can be attributed to the high concentration of market players and the easy availability of proficient technical expertise in the region. Furthermore, the rise in smart street lighting and smart building projects in the region is expected to drive the demand for LED drivers in the region.

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In terms of market size, Europe is expected to hold the second-largest share in the LED drivers market. The European market has been divided into the UK, the Netherlands, Germany, France, and the rest of Europe. Germany generates the highest demand for LED drivers in Europe, whereas the market in France is expected to register the highest growth rate during the forecast period.

The market in Asia-Pacific is expected to hold the largest market share and register the highest CAGR during the review period of 2019 to 2025. The regional market has been classified as China, Japan, India, South Korea, and the rest of Asia-Pacific. China is among the leading revenue generators in the Asia-Pacific LED drivers market. Reduction in prices of LED lighting, rapid urbanization and changing lifestyles of people, and increase in the number of government initiatives to promote energy-saving lighting is expected to drive the demand for LED drivers in Asia-Pacific

The rest of the world includes South America, and the Middle East, and Africa. Among these, the market in the Middle East and Africa is expected to register the highest CAGR during the forecast.

Market Highlights
The global LED drivers market size is expected to grow from USD 4,696.05 million in 2018 to USD 18,522.74 million by 2025, at a CAGR of 31.58% during the forecast period. Factors such as an increase in the adoption of LED lighting, rising demand for energy-efficient lighting systems, and the growing number of smart buildings are expected to drive the demand for LED drivers across the globe.

On the basis of type, the market has been segmented into constant voltage and constant current. The constant current segment dominated the market in 2018; this segment is expected to register the highest CAGR during the forecast period from 2019 to 2025.

On the basis of component, the market has been segmented into driver IC, discrete component, and others. The driver IC segment dominated the market in 2018 and it is expected to register the higher CAGR during the forecast period from 2019 to 2025.

On the basis of luminaires type, the market has been segmented into type A lamps, decorative lamps, T lamps, reflectors, and others. The type A lamps segment is expected to dominate the review period, however, the T lamps segment is expected to register the higher CAGR during the forecast period.

On the basis of application, the market has been segmented into commercial lighting, industrial lighting, automotive lighting, residential lighting, and others. The commercial lighting segment is expected to dominate the market during the review period. The automotive lighting segment is expected to register the highest CAGR during the forecast period.

Key players
The key players profiled in the global LED drivers industry research report are Osram GmbH (Germany), Harvard Technology Ltd. (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric Company (US), Cree, Inc. (US), ROHM Semiconductors (Japan), ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands), Lutron Electronics Co., Inc. (US), NXP Semiconductors N.V. (Netherlands), and STMicroelectronics N.V. (Switzerland).

More Information : https://www.marketresearchfuture.com/reports/led-drivers-market-8665
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