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Global led chips market analysis from the year 2021 to 2026

The global LED Chips Market is expected to grow at a CAGR of 12.3% from the year 2021 to 2026.

The automotive industry is at the forefront of LED lighting both in the interior and exterior segments. OSRAM, one of the leading producers in the line of the led chip and a pioneer in producing lighting for auto led headlamps, has supplied lighting equipment to several manufacturers.

The market rise also arises from the rise of LED niche lights in the field of fishing lighting, healthcare lighting, marine, horticulture lighting, and harbor lighting.For signs and signals, LED chips are increasingly being used to control both vehicle and pedestrian traffic at crosses. After the outbreak of covid-19 pandemics, UVC LED chips are in booming market requirements for surface disinfection.

The auto led lighting market is expected to keep holding major market share. According to Clearwater International, by 2020, the global automotive LED lighting market was expected to be up to around USD 7.3 billion. In coming years, huge demands for LED Chips are expected from the United States and the Asian regions, like South Korea, China, and Taiwan because of more productions of automotive and hybrid cars.

Geographically,the global market share of led chips is classified into North America, Europe,Asia Pacific,Latin America, the Middle East and Africa.
The estimated geographical growth rate of led chips market

The Asia-Pacific region has a rising demand for LED chips and automobiles, where rapid changes in technology are resulting in high performance. Thus, the need for high and medium-power LED chips is expected to grow. 

The LED chips market is highly competitive and include several major players. In March 2021,SMART Global Holdings, Inc. announced the completion of its acquisition of Cree, Inc.s Cree LED Products business unit ("Cree LED"). In earlier July,2022,AMS Osram announces closing the sale of its automotive lighting systems business to Plastic Omnium.

Other major players of chips in the global market covers:

Nichia Corporation,Philips Lumieds lighting corporation,
Epistar Corporation, 
SemiLEDS,Bridgelux Inc.
Seoul Viosys Co. Ltd
Samsung Electronics. Co. Ltd
Formosa Epitaxy

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