A LED module is an integrated module that contains a group of light-emitting diodes (LEDs) and the necessary components to control them. They are most commonly used in LED lighting applications such as signs, stage lighting, and automotive lighting. The purpose of LED modules is to allow the user to have a safe, reliable, and easily replaceable component for their LED lighting system.
LED modules offer many advantages over other lighting sources, such as their energy efficiency, low maintenance needs, low heat production, and minimal heat dissipation. They also come with a wide variety of mounting options which make them great for applications where standard LED lighting could be difficult to install.
LED modules are becoming increasingly popular around the world as people become more aware of the environmental benefits of using LED lighting technology. All of the major countries across the world, such as the United States, Canada, the United Kingdom, and Australia, have adopted LED lighting technology as their primary source of lighting. This has driven up the popularity of LED modules and LED lighting products in general.
The global LED module market is expected to grow at a CAGR of 6.2% from 2017 to 2025. Countries such as the US, Japan, Germany, and the UK are expected to be the major consumers of these LED modules due to increasing public knowledge about the advantages of LED technology over other traditional sources of lighting.
The global LED Module market was valued at US$ 5900.3 million in 2022 and is anticipated to reach US$ 7772.4 million by 2029, witnessing a CAGR of 4.7% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global LED Module Market available at: https://www.themarketreports.com/report/global-led-module-market-research-report
This report aims to provide a comprehensive presentation of the global market for LED Module, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding LED Module.
Global LED Module key players include Osram, Philips Lighting, Cree, GE Lighting, Seoul Semiconductor, etc. Global top five manufacturers hold a share about 30%. China is the largest market, with a share about 30%, followed by Europe, with a share about 20 percent. In terms of application, the largest application is General Lighting, followed by Backlighting, and Automotive Lighting.
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