As LED downstream applications continue to expand and market penetration rates increase, emerging markets such as high value-added lighting, small-pitch displays, and automotive LEDs will bring incremental space to the industry. The agency expects that LED price hikes are expected to heat up in the future due to factors such as slower expansion of mid-stream packaging plants and increased demand for downstream applications.
LED is a semiconductor device that can convert electrical energy into light energy, which has the advantages of energy saving, environmental protection, safety, long life and low power consumption. From the perspective of the industry chain, LEDs mainly include upstream chip manufacturing, midstream packaging and downstream applications. Among them, downstream LED applications are mainly divided into lighting, display, backlight, decoration, automotive lighting and other fields. LED applications are an important part of the industry chain with high added value.
According to the statistics of the China Electricity Council, from January to November last year, China's power generation was 537.11 billion kWh, a year-on-year increase of 4.2%. The total electricity consumption of the whole society was 537.47 billion kWh, a year-on-year increase of 5%, and the carbon dioxide emissions generated were 670 million tons. China's lighting electricity accounts for about 14% of the total electricity consumption in the whole society. With the continuous improvement of the market penetration rate of LED lighting products, the annual electricity consumption will reach 100 billion degrees.
In recent years, incandescent lamps have been rapidly eliminated, and LEDs have become the mainstream light source for lighting. According to the data of semiconductor lighting network, the penetration rate of China's LED lighting products reached 42% last year, up 10% year-on-year, of which domestic LED lighting products output is about 8 billion, up 33% year-on-year; domestic products are about 3.8 billion, up 35% year-on-year. %. At present, the largest market for LED downstream applications is the lighting field, followed by backlight applications and displays. Among them, the scale of display application has maintained a steady growth trend, especially with the continuous maturity of small-pitch LED display technology, LED display applications will gradually move from outdoor large-size display to indoor applications. The rapid expansion of the application field has further increased the proportion of LED displays in the entire downstream application industry chain.
The data shows that the overall output value of China's semiconductor lighting industry reached 512.6 billion yuan last year, up 22.8% year-on-year, of which the upstream epitaxial chip scale was about 18.2 billion yuan, up 20% year-on-year; the mid-stream package size reached 74.8 billion yuan, up 21.5% year-on-year; downstream application The scale was 428.6 billion yuan, a year-on-year increase of 23%. Last year, the output value of LED lighting reached 204 billion yuan, a year-on-year increase of 31.5%, accounting for 47.6% of the overall application market. In addition, the small-pitch LED display market size reached 54.8 billion yuan, a year-on-year increase of 29%, accounting for 12.8% of the overall application market. LEDinsides expects that the small-pitch LED consumption will advance at a compound annual growth rate of 46%, and will consume 189.8 billion particles by 2021.
With the adjustment strategy of foreign LED companies last year, shutting down the product line, overcapacity has been alleviated, and local LED companies have expanded their coverage and technical strength through overseas mergers and acquisitions. The organization believes that after the industry consolidation and production capacity clearing, the LED industry will continue to increase its supply and demand, and the price increase will continue. The industry pattern is expected to gradually improve.
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