LED Power Supplies Market
LED Power Supplies Market By Type (Constant Current, Constant Voltage, Dimming), By Industry (Residential, Commercial & Retail, Industrial) & By Region (North America, Latin America, Europe) - Global Market Insights 2022 to 2032
Analysis of LED Power Supplies Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
LED Power Supplies Market Outlook (2023 to 2033)
The LED power sources are meant to provide constant voltage and current. While the supply of current and voltage vary as per the requirement depending on a load of LED.
The system voltage is fixed by the constant voltage driver/LED supply, which adds LED loads in parallel across its output until the output currents reach their maximum allowable value. The majority of LEDs require a current limiting mechanism to prevent overdriving. To maximize the LEDs' lifetime and assure their safe operation, this current resistor is utilized to maintain the current flow to the lights. The LED will draw too much current and heat up if the current is not controlled, changing its electrical properties.
This overdraw of current will result in a fluctuation in the brightness of the LED, which will eventually lead to the failure of the light. Hence, LED supplies are important for the proper working of LEDs. LED lights that have constant current drivers or resistors already within the system can be powered with the usage of a constant voltage power supply.
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What are impelling factors for this market?
Several indoor and outdoor lightings require a constant source of LED supply which finds application in horticulture, tunnel, residential, and embedded lights. Unlike conventional lights, LEDs don't use a lot of energy. As a result, they cannot be directly connected to a wall socket since the intense alternating current could burn or damage them immediately. For them to produce light, they need a constant supply of electricity, which is where the LED supply comes into action. It is crucial to maintain a consistent current or voltage so that the LED may operate at its brightest and most efficiently.
Moreover, LEDs are more energy efficient than conventional power supplies. LEDs use up to 90% less energy than traditional incandescent bulbs, and up to 50% less energy than compact fluorescent lamps (CFLs). LEDs also last much longer than traditional bulbs, with a lifespan of up to 50,000 hours compared to 1,000 hours for incandescent bulbs. LEDs also produce less heat than traditional bulbs, making them safer and more efficient.
There is an increase in the demand for LED lights in the commercial and retail sectors so for the safe functioning of these LED lights there is an increase in the demand. Therefore, the increasing demand for LED lights is a major factor driving the growth of the LED market. LED energy supplies are highly efficient and highly reliable and some LED power supplies are manufactured in compliance with International Protecting standards, i.e. these LED supplies are waterproof and dustproof, making them suitable for outdoor usage as well.
The emergence of IoT continues to give momentum to the LED market
LED drivers have developed into crucial devices that can be connected to sensors for a variety of uses as the Internet of Things (IoT) in the smart lighting system gains traction. They can be used for data collection, managing one or more fixtures, etc. These drivers give LEDs more flexibility and control in their operation by enabling LEDs to be reassigned and reprogrammed without requiring any extra installation alterations.
What restrains the growth of the market?
LEDs often face issues due to efficiency drops as they might lose up to 20 percent of their efficiency due to greater electric currents. These products need higher initial costs which affect the adoption rate. Furthermore, one of the main issues limiting the growth of the market for LED power supplies is that some supplies do not supply their full power at higher temperatures.
Another factor impeding the growth of the market is the fact that some LED power supplies are not intended for outdoor use and consequently require an additional investment for a weatherproof enclosure.
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- The market can be segmented into North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and Middle East & Africa.
- Europe region is anticipated to show significant growth during the forecast period due to stringent government regulations. The German government has plans to reduce carbon emissions by 40% by 2020, as a result, the demand for LED lighting will increase contributing towards market growth.
- The APEJ region is anticipated to exhibit high growth of LED power supplies during the forecast period due to the high adoption of LED lights in this region.
The market is likely to become more competitive in upcoming times due to an increase in the number of players in the market. However, some prominent brands are not exclusively targeting profit but also working on the alignment of actions towards a purpose. These firms are focusing on the fulfillment of social objectives. Product innovation and strategic partnerships are leading business tactics in the industry. The companies are likely to opt for mergers and invest in product innovation in the forecast period to get a competitive edge in the market.
In November 2017, AC Electronics announced a new partnership with WPG Americas Inc., an electronic components manufacturer. WPG Americas Inc. has long-term customer relationships in the LED driver market and hence, both companies together will become a fast and reliable source for complete LED driver/module systems.
Key vendors in the LED power supplies market include
- Murata Manufacturing Co. Ltd.
- Mean Well Enterprises Co. Ltd
- Jameco Electronics
- AC Electronics
- Amperor Inc.
- Salcomp Plc.
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By Type :
- Constant Current
- Constant Voltage
By Industry :
- Commercial & Retail
- Other outdoor
By Regions :
- North America
- Latin America
- Rest of LatAm
- EU – 4 (Germany, France, Italy, Spain)
- BENELUX (Belgium, Netherlands, Luxemburg)
- NORDIC (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
- Rest of Europe
- CIS & Russia Japan LED power supplies market
- Greater China
- ASEAN Countries
- Rest of APEJ
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
- North America
- FAQs -
The demand for LED lights is in the commercial and retail sectors so for the safe functioning of these LED lights there is an increase in the demand for LED energy supplies.
The APEJ region is anticipated to exhibit high growth of LED power supplies during the forecast period due to the high adoption of LED lights in this region.
Product innovation and strategic partnerships are leading business tactics in the industry.
Key vendors in the LED power supplies market include- Murata Manufacturing Co. Ltd, Mean Well Enterprises Co.Ltd, Jameco Electronics, AC Electronics, Amperor Inc, and Salcomp Plc.