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Home » News » Industrial News » Global LED output CAGR will reach 7% from 2017 to 2022

Global LED output CAGR will reach 7% from 2017 to 2022

Views:1     Author:Site Editor     Publish Time: 2018-03-20      Origin:Site

According to LEDinside's latest report, "Gold Member - LED Industry Demand and Supply Database," the LED industry in 2017 benefited from the stabilization of LED market prices, plus automotive lighting and outdoor landscape lighting. With rapid growth, LEDinside estimated that its LED output value in 2017 will reach US$17.16 billion (+7.4% YoY).


Looking forward to 2018-2022, due to the significant expansion of Chinese LED manufacturers' production capacity, LEDinside has increased the expected decline in future LED prices. However, due to general lighting and automotive lighting applications, the penetration rate of LED continues to increase. The new type of Micro & Mini LED appears, so future applications are more diverse. It is estimated that the global LED output value will reach 25.5 billion U.S. dollars by 2022, and the annual compound annual growth rate of global LED output value from 2017 to 2022 will reach 7%. The

LEDinside estimates that the global LED industry will use about 37 million LED wafers (YoY + 30%) in 2017. Although the rise of OLED will affect the number of mobile phones and large-size panel backlights, general lighting and automotive use The number of applications such as lighting continues to grow. Coupled with the rapid growth of small-pitch display applications, the number of LED wafers used has drastically increased.


Looking forward to 2017-2022, due to the emergence of Micro & Mini LED, LEDs have changed from past backlighting to self-illumination on consumer electronics displays. Each LED will become a pixel, which will drastically drive the use of LED wafers. Estimated total LED wafers CAGR will reach 19% in 2017-2022.


    1. Greenhouse Lighting and Food Safety Demand Drives Plant Lighting LED Market Growth

The market outlook for the use of LEDs in plant lighting is quite optimistic and the market size is expected to grow rapidly. The global LED market for LED lighting for plants in 2017 will be US$52 million, and it is expected to reach US$150 million by 2022, with a compound growth rate of 24%.

In the application of plant lighting, LED has obvious performance advantages over other light sources, such as spectral characteristics, longevity, and environmental protection. In recent years, as prices have fallen, market acceptance has increased and the number of plant factories has increased. In addition, due to issues such as food safety, small family plant factories are gradually emerging.



The Chinese market has gradually become a regional market for domestic and foreign manufacturers in the past two years. For example, Japan’s Mitsubishi Chemical cooperates with JD.com to build a plant factory and sell vegetables on its own. Local companies such as Zhongke Sanan have also invested heavily in plant construction. In the United States, Mexico, and other markets, the potential demand for cannabis cultivation is mainly due to the lack of sunlight and other factors. The demand for greenhouse lighting is the main source.


      2. LED is relatively stable in the projector application market

The application of LEDs in the projector market can be divided into two categories. One is the commercial projector market where the luminous flux requirement is over 1,000 lm, and the other is the home/micro projection market below 1,000 lm. Since the market is a special niche application area, despite the high unit price, the market size is not large. Therefore, the output value of 2017 is only 17 million US dollars, and it is estimated that by 2022 it will grow to 20 million US dollars.


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