According to TrendForce's global LED industry database report, the LED industry will be hit by the new crown pneumonia epidemic in 2020, and the output value will not only decline, but also a rare decline in previous years. With the advent of vaccines in the first half of 2021, long-term suppressed demand will bottom out. It is estimated that the global LED market output value will rise this year, reaching 16.53 billion U.S. dollars, an annual increase of 8.1%. The main growth momentum comes from automotive LEDs. , MiniLED and Micro LED, as well as commercial related display screens and four major areas of invisible light.
TrendForce expects that the sales performance of new energy vehicles will grow substantially this year, and new models of traditional fuel vehicles will accelerate the introduction of LED lighting solutions. This will drive the penetration rate of automotive LEDs to continue to rise since 2020. It is expected that the output value in 2021 will be expected. Reached 2.93 billion US dollars, an annual increase of 13.7%, and its growth momentum ranked first among all LED application categories this year.
Secondly, the demand for new display applications including MiniLED and Micro LED will explode in 2021. Among them, thanks to Apple’s new-generation iPad Pro 12.9-inch and the introduction of MiniLED backlight technology in Samsung TVs, MiniLED backlight applications have increased significantly. The total output value of the two is estimated US$380 million, with an annual growth rate of 265%, making it the second largest growth block.
Third, the display market, driven by new application scenarios such as conference all-in-one displays, 5G 8K ultra-high resolution displays, home theaters, and virtual production, has become the focus of market attention in recent years. It is estimated that the output value will be this year. Reached 1.78 billion US dollars, an annual increase of 12%, making it the third largest growth block.
It is worth mentioning that in the invisible light LED market, the UV-C LED market has attracted attention due to the impact of the new crown virus epidemic. Brand manufacturers have successively increased their awareness of sterilization and purification, and the optical power of UV-C LED products Continued to increase. Among them, relevant companies in China, Europe, South Korea, and Japan all plan to introduce new home appliances into UV-C LED, and plan or are importing more than 35 UV-C LED brand manufacturers. It is estimated that many applications of infrared and ultraviolet will push up the overall invisible light LED market output value to 830 million US dollars, an annual increase of 27%.
On the whole, as the demand for traditional LEDs recovers and gradually rebounds, and the emerging LED application market gradually enters the stage of heavy volume, it will drive the overall LED market output value. At the same time, due to the overall improvement in the supply and demand of the LED industry, the prices of most LED products are relatively stable, and even the prices of some products have begun to rise. In addition, the average price and gross profit of emerging LED applications are generally higher. Therefore, the overall LED market demand performance and output value All are growing synchronously and positively. TrendForce believes that the LED industry will no longer need to maintain revenue through the strategy of quantity-based pricing, which will help improve the profitability of related industries.
Note: LED output value includes the output value of LED packaging for each application and the output value of MiniLED & Micro LED chips directly used in backlight and self-luminous products. (Source: TrendForce)
