LED lighting industry chain and market scale in 2021

In the past two months, related products in the LED lighting market have ushered in a wave of price increases. In December last year, many domestic lighting companies have intensively issued price increase letters, and the price increase is mostly 10%. The agency believes that in 2021, it is optimistic that the LED industry will continue to pick up, and the concentration of lighting benefits will continue to increase; in terms of display, new infrastructure will significantly drive the reversal of LED display demand. Mulinsen is a major manufacturer in the global LED packaging industry. Leyard Company is mainly engaged in the research and development, design, production and sales of LED application products. The Lijing Microelectronics MicroLED display mass production base established by a joint venture with Taiwan Epistar has officially put into production.

LED lighting industry chain and market scale in 2021

With the continuous update and iteration of LED chip technology and manufacturing process, the luminous efficiency, technical performance, product quality, and cost-effectiveness of LED lighting products have been greatly improved; coupled with the continuous increase of related enterprises and investments in the industry chain, LED light source manufacturing and supporting industries Manufacturing technology continues to upgrade, and the cost-effectiveness of large-scale production of terminal products has further improved. At present, LED lighting products have become mainstream applications in applications such as home lighting, outdoor lighting, industrial lighting, commercial lighting, landscape lighting, and backlight display. The market penetration rate of lighting products to replace traditional lighting products continues to increase, and market demand continues to grow.

From the perspective of the industry chain, the upstream of the LED lighting industry chain is the production of substrates and epitaxial wafers, the midstream industry is the production of LED chips, and the downstream is LED packaging and display, backlight applications, automotive lighting, general lighting and other applications. Among them, the production of upstream epitaxial wafers and midstream chips is the key technology of LEDs, with high technical content and large capital investment. At the same time, it is also the field with the most intense international competition and the greatest business risk.

From the perspective of penetration rate, China is the largest manufacturer of LED lighting products. According to the statistics of the National Semiconductor Lighting Engineering Research and Development and Industry Alliance (CSA), the domestic market penetration rate of LED lighting products in China (the domestic sales of LED lighting products/lighting products The total domestic sales volume) increased rapidly from 3.3% in 2012 to 70% in 2018, far exceeding the global average.

From the perspective of market size, as the domestic LED lighting market penetration rate rapidly rises to more than 70%, LED lighting has basically become a rigid demand for lighting applications, and the domestic LED lighting market is growing faster than the global average. The data shows that the output value of China's LED lighting market has grown from 259.6 billion yuan in 2015 to 415.5 billion yuan in 2018, with an average annual compound growth rate of 16.97%, which is higher than the global average. It is estimated that by 2021, the output value of China's LED lighting market is expected to reach 590 billion yuan, and it is still expected to maintain a compound annual growth rate of more than 12% from 2019 to 2021.

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