LED Driver Market Regional Analysis

Asia Pacific dominated the LED driver market, accounting for 44.4% of total sales in 2022. From 2023 to 2030, the market is expected to grow at a CAGR of more than 23.9%. The region's rise can be linked to greater LED lighting usage, government subsidies, and enhanced manufacturing facilities. In March 2021, the Indian government launched the GRAMME UJALA programmer for rural communities, with the goal of providing LED bulbs at a cheap cost of Rs.10 per bulb. Rural consumers who submit working incandescent bulbs will receive 7-watt and 12-watt LED lights with a three-year warranty. The Indian government has also allocated INR 36.78 crore in LED lights across the country. Such initiatives are promoting market growth in the region.

North America and Europe are expected to experience a rise in LED lighting usage across high and low-end vehicle categories. The use of the technology for outdoor applications has increased in countries such as the United States and Canada. The European Union's ban on incandescent and halogen bulbs, along with attractive LED incentive packages, is driving rising demand for LED components in Europe.