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2023/06/01
TrendForce has reported a significant decline in global LED demand throughout 2022, resulting in a noticeable downturn in both LED lighting and video wall markets The industry was faced with an LED chip surplus, which led to a continuous drop in prices throughout the year
The combined impact of volume and price reduction resulted in a sharp 23% annual decrease in the market value of global LED chips in 2022, shrinking to just US$278 billion Despite this challenging landscape, it is predicted that the LED industry will recover in 2023, primarily driven by a resurgence in the LED lighting market The anticipated rebound could elevate the LED chip production value, with estimates placing it at US$292 billion for 2023
LED Commercial lighting is expected to lead the comeback charge in the broader LED lighting market From a supply chain perspective, the LED lighting industry hit a low point in 2018, leading to an exodus of several small and medium-sized enterprises Moreover, some lighting LED chip manufacturers have been consistently transitioning into more profitable sectors such as display technology This shift resulted in reduced supply and correspondingly lower inventory levels
In response to these changes, several LED companies opted to increase their prices The primary increase has been seen in the price of LED chips specifically used for lighting applications The most significant price increase was observed for low-power light chips with an area of 300 mil2 or less, which saw a price rise of about 3–5% In certain cases, the price hike for chips of unique sizes reached up to 10%
TrendForce survey data indicated a growing trend among LED supply chain companies toward raising prices This trend is anticipated to persist due to the high demand for LED chips Many companies see this price adjustment as a means to mitigate losses and actively reduce orders with low-gross margins
TrendForce analysis underscores that the majority of the world’s LED chip suppliers are based in China In recent years, heightened industry competition has forced some companies to exit the LED chip market At the same time, Chinese LED chip manufacturers have decreased their focus on the chip sector Most of the suppliers who have remained in the market have reported consistent losses over an extended period
In China, the recent price rise for low-power light chips is viewed as a short-term strategy to bolster profitability Looking ahead, TrendForce predicts that by striking a balance between supply and demand, and increasing industry concentration, the LED industry will gradually return to a state of normalcy
For more information on reports and market data from TrendForce’s Department of Display Research, please click here, or email Ms Vivie Liu from the Sales Department at graceli@trendforcecom
For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/
2022/11/08
BOE has become the largest shareholder in HC Semitek following a RMB 21 billion capital investment deal, and they are now in a partnership with respect to the development of Micro/Mini LED businesses BOE has been involved in Micro/Mini LED since 2017 and now possesses related offerings such as displays and backlight solutions In 2020, BOE established BOE MLED Technology as a subsidiary dedicated to the R&D and manufacturing of Micro/Mini LED products As for HC Semitek, it is a major Chinese LED chip supplier and has an overarching presence across the LED chip industry chain Hence, it produces not only LED chips but also LED epi wafers, sapphire substrates, etc According to the data from market intelligence firm TrendForce, HC Semitek took fourth place in the 2021 ranking of LED chip suppliers by external sales revenue Besides this achievement, HC Semitek is also at the forefront of advanced LED technologies including Micro/Mini LED In a ranking of LED chip suppliers based on the revenue that is solely from sales of Mini LED chips, HC Semitek is currently in third place following Epistar and San’an
Looking at this deal from BOE’s perspective, LED chips represent a critical section of the display industry chain For end products, the quality of LED chips directly affects their displays in terms of cost, production yield rate, and quality This connection between chips and end products is also noticeable in the Micro LED industry For instance, RGB Micro LED chips are already regarded as a key component among the leading brand manufacturers At the same time, these brand manufacturers have taken actions to secure a stable supply of RGB Micro LED chips For instance, Samsung has invested in PlayNitride in order to advance its Micro LED solutions Also, TCL CSOT has formed a joint venture named Xiamen Extremely PQ Display Technology with San’an Another example is Ennostar’s partnership with AUO and Innolux for the development of Micro LED displays Turning to BOE and HC Semitek, the former hopes that by joining forces with the latter, it will be able to further strengthen its already advantageous position in the field of Micro/Mini LED Furthermore, in BOE’s efforts to develop related technologies, HC Semitek is going to provide significant support going forward
In HC Semitek’s view, the competition in the LED chip industry has become fiercer in recent years as suppliers such as MTC, San’an, and Changelight release new production capacity This year, the situation in the LED chip market is particularly challenging because of factors such as the resurgence of local COVID-19 outbreaks in China, the Russia-Ukraine military conflict, and the ongoing global inflation With a sharp drop in the demand for end products, the LED chip market has shifted to oversupply, and most LED chip suppliers now operate at a loss Over these years, HC Semtek has been expanding into the high-end market segments such as Mini LED solutions and automotive LED solutions However, this move has come at the expense of abandoning some parts of the low-end market segments Therefore, the company has also lost some market share TrendForce’s data reveal that HC Semitek’s global market share for LED chips came to 7% in 2021, down by 2 percentage points from 2020
TrendForce points out that BOE is among the investors that HC Semitek has targeted in its latest share placement that aims to raise a total of around RMB 2 billion The proceeds are to be used to build a base for not only the production of Micro LED wafers but also the packaging and testing of Micro LED chips This capacity expansion project, in turn, is expected to raise market share and generate profit for HC Semitek Additionally, by forming a close partnership with BOE, HC Semitek will be able to develop technologies that are more suited for the needs of end customers Simultaneously, BOE will serve as a major sales channel for HC Semitek’s Micro/Mini LED chips
For more information on reports and market data from TrendForce’s Department of Optoelectronics Research, please click here, or email Ms Grace Li from the Sales Department at graceli@trendforcecom
For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/
2022/06/02
According to TrendForce's latest LED report, as a slowing pandemic drove the recovery of various global economic activities, global LED market value beat market expectations in 2021, reaching US$1765 billion, or 154% YoY
From the revenue ranking of LED manufacturers, most constituents benefited from the rebound in market demand and showed significant revenue growth with the top three manufacturers accounting for 295% of the market Nichia's backlight LED business revenue declined due to increasing OLED penetration However, driven by the rapid growth of revenue in the flash LED, automotive LED, and general lighting markets, overall revenue continued to grow steadily, ranking Nichia first in the world
Exemplified by stable product quality, excellent light efficiency, and cost-effectiveness, ams OSRAM is regarded as a first choice supplier for high-end automobiles and new energy vehicles (NEV) worldwide In addition, benefiting from orders for horticultural lighting and infrared sensing, its revenue ranks second in the world
Samsung LED also benefited from improved sales in automotive lighting, horticultural lighting, general lighting, and Mini LED backlights, ranking third Among these products, Samsung Lighting LEDs are positioned in the high-end market In high-end markets such as Europe and the United States, Samsung LED’s market share is gradually expanding due to its advantages in quality and patents It is worth mentioning that Samsung LED's horticultural lighting orders also showed rapid growth, driving its whole lighting LED business revenue to rank first in the world
The remaining top ten LED manufacturers are rounded out by Seoul Semiconductor, Lumileds, MLS, Everlight, LITEON, Nationstar, and Hongli Seoul Semiconductor took advantage of revenue growth from large-size backlights, automotive LEDs, and lighting LEDs Lumileds also performed well in the fields of automotive LEDs and lighting LEDs, and continued to launch a variety of LEDs for commercial lighting, horticultural lighting, and architectural lighting to seize market share MLS, Nationstar, and Hongli have significantly increased their revenue in the display LED and lighting LED markets Everlight and LITEON continue to develop photocoupler, infrared sensing, and consumer electronic indicator LED products
Looking at performance in 1H22, TrendForce indicates, despite the gradual recovery of demand in Europe and the United States, the Russian-Ukrainian war continued to drive raw material pricing upward and exacerbate inflation, in turn suppressing demand in the consumer market In addition, due to the impact of the pandemic in China, the industrial chain in some cities has experienced interruptions and outright disruption with a scope of influence enveloping industries such as electronics and automobiles, inflicting a certain degree of collateral damage on supply and demand in the LED market Looking forward to 2H22, it is worth observing the imminent launch of corresponding economic stimulus policies by the Chinese government Global LED market value is forecast to maintain a growth trajectory in 2022 with a growth rate slower than growth performance in 2021
For more information on reports and market data from TrendForce’s Department of Optoelectronics Research, please click here, or email Ms Grace Li from the Sales Department at graceli@trendforcecom
For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/
2021/12/14
TrendForce’s 2020-2021 Global Automotive LED Product Trend and Regional Market Analysis research indicates, the global penetration rate of LED headlights exceeds 60% in 2021 with penetration in new energy vehicles (NEV) exceeding 90%, according to TrendForce’s latest investigations Influenced by growth momentum from increasing automotive market shipments and the rising penetration rate of LED lighting, global automotive LED market value is estimated to be valued at US$351 billion in 2021, a 318% YoY growth rate This demonstrates that LED headlights and automotive display LED products remain the main driving force for growth in the automotive LED market
Although the automotive semiconductor shortage has led to manufacturing bottlenecks among some car manufacturers, since car manufacturers have asked LED producers to continue production, the purchase order status of major automotive LED manufacturers will not be affected before the end of 2021 Among the 2021 revenue rankings of automotive LED manufacturers, the top three companies remain ams-OSRAM, Nichia, and Lumileds These three account for a combined market share of as much as 717%
In terms of automotive lighting, ams-OSRAM has leveraged stable product quality, excellent lighting efficiency, and cost performance to make it the supplier of choice for the world’s high-end cars and new energy vehicles, including high-flying Tesla among its customers This year, ams-OSRAM’s automotive LED revenue grew rapidly and has an opportunity to reach US$1304 billion by year’s end for an annual growth rate of approximately 409% Samsung LED’s PixCell LED has also been successfully integrated into the Tesla Model 3 and Model Y, boosting its automotive LED revenue growth to as much as US$121 million with market share expected to increase to 34%
In terms of automotive display backlighting including dashboard and central console displays, not only are more and more car models equipped with automotive display products, the standard is moving towards larger displays with the current mainstream automotive panel product size at 123-inches Further taking into account features popular in the current market such as HDR, local dimming, and wide color gamut shows that automotive LED market demand will maintain a rapid growth trend in the next five years This will benefit the revenue of Nichia and Stanley with this year’s market share for these two companies expected to reach 231% and 66%, respectively
Relying on the high brightness and compact size of their WICOP product, Seoul Semiconductor’s penetration rate of the automotive headlight market has reached 10% and WICOP has been adopted by car manufacturers including Changan Automobile, SAIC-GM-Wuling, and Nio Revenue is forecast to reach US$155 million with a market share of approximately 44% It is worth mentioning, benefiting from European customer orders, Dominant has the highest annual revenue growth out of the top ten companies in the industry at 463%
For more information on reports and market data from TrendForce’s Department of Optoelectronics Research, please click here, or email Ms Grace Li from the Sales Department at graceli@trendforcecom
For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/
2021/06/30
Affected by the emergence of the COVID-19 pandemic, global LED video wall revenue for 2020 reached a mere US$553 billion, a 128% YoY decrease, with the European and US markets suffering the most significant declines, according to TrendForce’s latest investigations In 2021, as overall market demand recovers, and certain components in the upstream supply chain undergo price hikes due to shortage, LED video wall manufacturers have raised their product prices in response Hence, LED video wall revenue for this year is expected to reach US$627 billion, a 135% YoY increase
TrendForce further indicates that the overall demand for LED video walls has been gradually recovering thanks to increased vaccinations worldwide, which have enabled a gradual easing of border restrictions as well as the resumption of major commercial and sporting activities, including UEFA Euro 2020 and the Tokyo 2020 Olympics In addition, owing to the rising prices of materials in the upstream LED video wall supply chain, such as driver IC, PCB, and LED components, LED video wall manufacturers such as Leyard, Unilumin, and Absen are gradually raising their product prices in order to maintain product profit
While demand in the Chinese market was the first to recover, the top eight suppliers collectively accounted for a 60% market share
Regarding the ranking of LED video wall suppliers in 2020, Leyard took the leadership position with an 113% market share even though its overall revenue declined due to the pandemic’s impact on Leyard’s overseas businesses Likewise, Unilumin saw declines in its overseas businesses, which caused only a slight drop in its revenue because Unilumin had placed a greater focus on sales in the Chinese market Unilumin took second place with a market share of 108% Qiangli Jucai, on the other hand, primarily conducted businesses in domestic China By aggressively strengthening its distribution channels, Qiangli Jucai was able to increase its revenue against the overall downtrend and take third place Daktronics, Hikvision, Samsung Electronics, Absen, and Shanxi High-tech Huaye rounded out of the rest of the ranking by taking the fourth to eighth places in order
On the whole, most LED video wall manufacturers, especially companies (including Leyard, Unilumin, and Absen) whose primary markets were Europe and the US, saw declines in their revenues for 2020 due to the pandemic last year Conversely, companies with a primary focus on the Chinese market, such as Qiangli Jucai and Shanxi High-tech Huaye, benefitted from the recovering demand that began ramping up in 3Q20 and peaked in 4Q20 These companies were able to propel the combined market share of the top eight LED video wall manufacturers last year to 58%, which was four percentage points higher compared to 54% in 2019
For more information on reports and market data from TrendForce’s Department of Optoelectronics Research, please click here, or email Ms Grace Li from the Sales Department at graceli@trendforcecom
For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/
