LED Modules And Light Engines

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6. MarketOverview The Global LED Modules And Light Engines Is Expected To Grow At A CAGR Of 11.2% From 2022 To 2032, Totaling Approximately USD 115,729.3 Million By 2032. LED modules and light engines are important because they generate the light emitted from LED lamps. They consist of a circuit board with one or more LEDs, optics to guide the light, and thermal management. The optics may be in the form of reflectors, lenses or diffusers. Thermal management dissipates heat so the LEDs don't overheat. The light engine is the part of the LED module that controls the light output. It can be a controller, driver or converter. The controller is used to set the brightness and color of the LED. The driver converts the electrical signal into optical power, causing the LED to emit light.

7. Regional Analysis • The Asia Pacific market holds the largest share in terms of revenue with more than 40% and is projected to grow at a CAGR of over 10% from 2022 to 2030. This growth can be attributed to rising energy demand coupled with rapidly growing Urbanization and industrialization. Moreover, rising levels of disposable income are expected to spur demand in countries such as China, India, and Indonesia. • The Europe LED module market was valued at over USD 1.0 billion in 2017 owing to stringent government regulations on carbon emissions and growing adoption of LEDs in industries such as automotive & transportation, signs & displays, which will drive growth over the forecast period.

8. The LED Modules and Light Engines Market has been segmented into: • ByApplication • Residential, Commercial, Industrial, Others • ByType • Flexible, Rigid

9. MarketDynamics The rising rate of consumption of technology equipment is expected to benefit product demand. According to a report by the Consumer Technology Association (CTA), the retail sales of the technology industry will reach $461 billion in 2021, an increase of 4.3% over the past. In addition, consumer demand for volume Increasing demand for compact, space-saving home appliances will support the future growth of this market. Furthermore, the growing number of professionals and their busy lifestyles have facilitated the widespread usage of electric clothes dryers at home, thereby boosting the revenue of such appliances.

10. Market Players • Amana, • Maytag, Frigidaire, • Bosch, LG, Electrolux, Indesit, • Kenmore, Haier, Samsung, Beko, • Miele, Siemens, Zanussi, Hoover, • And Others.

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