Demand is recovering, and global LED industry revenue is expected to increase by 3% annually in 2024
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According to TrendForce’s latest LED industry report, the global LED market will have the opportunity to resume growth in 2024, with an estimated output value of US$13 billion, an annual increase of 3%.
Mainly benefiting from the gradual recovery in market demand for automotive lighting and displays, lighting (general lighting, architectural lighting, agricultural lighting), LED displays, ultraviolet/infrared LEDs, and the fact that Micro LED technology has been successfully introduced into large-scale displays Driven by factors such as Samsung and watches such as Tag Heuer.
According to TrendForce, automotive display is an area with greater growth potential this year. The first is automotive lighting and display. Driven by sales in the new energy vehicle market, in adaptive headlights (ADB Headlight), Mini LED With the continued advancement of advanced technologies such as taillights, full-width taillights, (intelligent) ambient lights, and Mini LED backlight displays, it is estimated that the automotive LED market output value is expected to grow to US$3.4 billion this year.
Secondly, the reading light/knob button uses Micro LED technology and has the opportunity to be introduced into European car manufacturers; at the same time, European, American and Japanese car manufacturers plan to introduce Micro LED transparent displays. Since car manufacturers require Micro LED head-up displays to have a penetration rate of ≥70% and a curved surface design, as the technology and product prices gradually mature, it is expected that Micro LED transparent displays will be introduced into the automotive market in 2026-2027 for expansion. Realistic head-up display (AR-HUD) or car window display. In terms of Mini LED displays, market demand is growing rapidly. Major display manufacturers include Samsung, LG Electronics, Leyard, Unilumin, and Absen.
In terms of ultraviolet LEDs, UV-C LED manufacturers continue to launch related products in response to high-power sterilization and purification market requirements. It is expected that from the second half of this year to 2026, they will be gradually introduced into home appliances and dynamic water sterilization market applications. For example, Huawei AITO uses UV-C LED air sterilization. The order period is from 2023 to 2025, which will help accelerate the introduction of automotive air sterilization applications by other car manufacturers. Compared with UV lamps (UV Lamp), UV LED has a longer product life and simple optical design. Nichia, Seoul Viosys, Violumas, etc. have launched complete UV-A/B/C LED product lines to solve the problem through complete wavelengths. solutions to meet customer needs for alternative UV lamps (UV Lamp).
In terms of agricultural lighting, as Central and Eastern Europe such as the Czech Republic and Poland have benefited from the price reduction of plant lighting terminal products, and the overall plant factory solution has a higher return on investment (ROI), the demand has strengthened. At the same time, investment in horticultural lighting in high latitudes in Asia and Northern Europe to grow fruits, vegetables and grass to improve the negative impact of long winters on food supply is expected to drive the horticultural lighting LED market upward in 2024.
Reposted from: International Electronic Commerce, automatically translated by Google
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