We will discuss the performance, progress and trend of High Power Light Emitting Diodes (HP-LEDs), suitable for high luminance applications like micro-display projection, car headlamps, spot lamps, theatre lamps, etc. Key drivers for the high luminance applications are LED parameters such as internal quantum efficiency, extraction efficiency, drive current, operating temperature and optical coupling efficiency, which are important for most applications as they also enable higher lumen/$ ratios. Historical progress, prospects for improving these parameters and potential optical luminance enhancement methods to meet the demands for the various illumination applications are presented.