I am curious to know how the induced voltage changes relative to the diameter of the PVC pipe. I believe that for the same number of turns and same magnet, since the magnetic flux is roughly the same, the induced voltage should not change significantly.
In addition, if the induced voltage will be used to drive the LEDs, it is probably better to first estimate whether there is enough voltage and current to light up several different brightness levels on thoes LEDs. In the initial evaluation of the system, all factors should be considered, including the total magnetic flux generated by the magnet, the dropping speed of the magnet, the number of turns, the coil resistance, the LEDs voltage and current specifications..etc.
However, if an active amplifier circuit can be used, then there is no need to worry too much about it.