LED output value reaches 15.7 billion US dollars next year
The research organization pointed out that the LED industry will be affected by the new crown pneumonia epidemic in 2020, and market demand will decline significantly. The estimated output value is only 15.127 billion US dollars, a 10% annual decrease, which is a rare decline in previous years. Looking forward to 2021, with the advent of vaccines, long-term depressed demand will bottom out. It is estimated that the global LED output value next year is expected to reach 15.7 billion US dollars, an annual increase of 3.8%.
According to TrendForce's Optoelectronics Research Office, due to the diversification of LED applications, the industrial recovery of each application category is also different. From the perspective of traditional backlight applications, remote office and teaching derived from the 2020 epidemic have become the norm in life, driving the demand for consumer electronic products such as tablets and laptops. Benefiting from the strong demand for panels, LED backlight related companies have performed well. However, they are worried that most consumers have already made consumption earlier this year. Therefore, TrendForce has reservations about whether the strong market demand in 2020 will continue in 2021.
As for the anticipated Mini LED backlight, under the leadership of major brands such as Apple and Samsung, it is expected that new products will continue to be released in 2021, which will drive the demand for Mini LED backlights to grow substantially, and there will be opportunities for output in 2021. Reached 131 million US dollars, an increase of nine times over 2020.
From the perspective of display applications, LED displays are mainly used in commercial spaces. Like general lighting, the decline in the number of commercial shows will reduce the output value of LED displays by 9.3% in 2020. Looking forward to 2021, due to the gradual recovery of various commercial performances and the rising demand for higher-resolution fine-pitch LED displays, it is estimated that the output value of LED displays will return to the level of approximately US$1.48 billion before the epidemic.
From the perspective of general lighting, LED lighting applications have declined significantly due to the impact of the epidemic. The decline in the number of commercial activities has led to the most obvious decline in demand for commercial lighting and outdoor landscape lighting. On the other hand, demand in the field of plant lighting has risen sharply, due to the gradual legalization of cannabis cultivation in North America, and the epidemic has caused the medical and recreational cannabis market to soar; in addition, the impact of the epidemic on the food supply chain is gradually showing, and the investment and construction of indoor planting agriculture is heating up again It is expected that some lighting applications will begin to bottom out in 2021; and for automotive lighting, the decline in global auto market sales in 2020 will also cause the automotive lighting market to freeze. It is expected that the output value of automotive LED lighting in 2021 will follow the epidemic Slow down and return to the level of 2.6 billion US dollars.