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Market Overview of Global Flex LED Strip market:
According to our latest research, the global Flex LED Strip market looks promising in the next 5 years. As of 2022, the global Flex LED Strip market was estimated at USD 732.73 million, and it's anticipated to reach USD 1252.74 million in 2028, with a CAGR of 9.35% during the forecast years.
Flex LED Strip Lights are thin flexible printed circuit boards with LEDs and resistors attached that populated by surface mounted light-emitting diodes (SMD LEDs) that usually comes with an adhesive backing.
The unexpected arrival of the COVID-19 epidemic has cast a thick shadow on all walks of life around the world. Especially in the manufacturing industry, production and sales have been affected to a certain extent due to the impact of the epidemic.
At the end of the first quarter of 2020, as a major Flex LED Strip producer, Chinas epidemic has been effectively controlled, while epidemics in other countries and regions have subsequently broken out, causing a break in the global supply chain. As one of the manufacturing industries, Flex LED Strip has also suffered a huge negative impact. Only a handful of companies have achieved double profits.
During the epidemic, for Flex LED Strip companies that have deployed a global strategy, unfavorable factors such as the interruption of the logistics chain and the reduction of downstream customer orders have put them under tremendous operating pressure. For Flex LED Strip companies that focus on their domestic markets, limited gathering places for people, fewer people going out, and the cancellation of large-scale events have all reduced downstream customers and consumers' demand for Flex LED Strip. The main demand for Flex LED Strip products comes from commercial applications, such as the demand from commercial facilities such as shopping malls, hotels, and bars. However, during the COVID-19 period, governments in almost all regions of the world have issued laws to forcibly close such entertainment venues.
Taking environmental friendliness as the development goal
Flex LED Strip is one of the important solutions for green lighting. Flex LED Strip products achieve high efficiency, energy saving, environmental protection, safety and stable performance through scientific sustainable lighting design. These superior properties of the product can save power, protect the environment, improve lighting quality, and ultimately improve the living environment, improve the quality of life, and create a safe, comfortable, economical and suitable environment. Following the trend can bring many development opportunities to the industry, thereby driving the development of the industry.
Product features drive product demand
First of all, the flex LED strip has a pure color. The flex LED strip uses high-brightness SMD LED as the light-emitting element, so it has the advantages of the LED light-emitting element, the light color is pure, soft, and no glare. It can be used for decoration and lighting. Secondly, the flex LED strip is flexible: the flex LED strip uses a very flexible FPC as the substrate, which can be bent at will without breaking, and is easy to shape, suitable for various advertising modeling needs. In addition, whether the material of the flex LED strip is LED or FPC, which is environmentally friendly, can be recycled and will not cause environmental pollution and damage due to extensive use. And most of the LED flexible strips use low-voltage power, which is very safe to use. Both the elderly and children can be used safely without causing safety hazards. Based on the above characteristics, it is widely used in building outlines, steps, booths, bridges, hotels as well as the production of advertising signs, various large-scale animations, and advertising design of calligraphy and painting. With the gradual maturity of flex LED strip technology, its application range will be more extensive.
Region Overview:
In 2021, the share of the Flex LED Strip market in China stood at 57.92%.
Company Overview:
Osram is one of the major players operating in the Flex LED Strip market, holding a share of 14.82% in 2022.
Osram
Osram is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, their products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to smart and connected lighting solutions in buildings and cities.
Philips
Philips operates as a technology company. The Company provides healthcare, electronics, lighting, and consumer lifestyle products, focused on improving people's lives through innovation. Philips serves customers worldwide.
Segmentation Overview:
Among different product types, 5050 segment is anticipated to contribute the largest market share in 2027.
3528
This is the metric system, which means that the length of the LED component is 3.5mm, the width is 2.8mm, and the industry abbreviation is 3528.
5050
This is also called the metric system, which means that the length of the LED component is 5.0mm, the width is 5.0mm, and the industry abbreviation is 5050.
Application Overview:
By application, the Low Voltage segment occupied the biggest share from 2017 to 2022.
Low Voltage
The low-voltage flex LED strip works under the working voltage of DC 12V, which is a safe voltage and can be used on various occasions without any danger to the human body. The installation of the low-voltage flex LED strip requires the installation of a DC power supply in front of the light strip, which is relatively complicated during installation. Low-voltage flex LED strip are generally 5~10 meters/roll at most; DC power supply over 10 meters attenuates severely.
High Voltage
The 220V voltage used by the high-voltage flex LED strip is a dangerous voltage, and there are safety hazards in some risky applications. The installation of a high-voltage flex LED strip is relatively simple, and it can be directly driven by a high-voltage driver, and it can work normally after turning on the 220V power supply. High-voltage flex LED strip can generally be 50-100 meters per roll. Because of the high voltage, the high-voltage flex LED strip generates more heat per unit length than the low-voltage flex LED strip, which directly affects the life of the high-voltage flex LED strip.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Flex LED Strip market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Flex LED Strip Market Report:
Market Size Estimates: Flex LED Strip market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Flex LED Strip market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Flex LED Strip market
Segment Market Analysis: Flex LED Strip market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Flex LED Strip market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Flex LED Strip Market: Revenue and sales volume of major countries in each region
Flex LED Strip Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Flex LED Strip market in major regions.
Flex LED Strip Industry Value Chain: Flex LED Strip market raw materials & suppliers, manufacturing process, distributors, downstream customers
Flex LED Strip Industry News, Policies & Regulations
Key players in the global Flex LED Strip market are covered in Chapter 12:
PAK
Philips
Forge Europa
Opple
Jesco Lighting
Sidon Lighting
LEDMY
FSL
OML
Optek Electronics
Osram
Ledtronics
NVC Lighting
Jiasheng Lighting
In Chapter 2 and Chapter 15.1, based on types, the Flex LED Strip market from 2018 to 2028 is primarily split into:
3528
5050
Others
In Chapter 3 and Chapter 15.2, based on applications, the Flex LED Strip market from 2018 to 2028 covers:
Low Voltage
High Voltage
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Flex LED Strip market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028