Three major applications of LED will drive rapid growth of the industry

In 2010, the number of lighting products in the national market reached 8.6 billion, of which LED lighting products accounted for only about 0.16%. As the prices of LED lighting products continue to decline, the LED lighting market is growing rapidly. From 2013 to 2017, the compound growth rate of China's LED bulb and fluorescent tube market output values ​​will reach approximately 44% and 35% respectively. In 2017, market sales will exceed 2.5 billion and 1 billion respectively.

The huge automobile market has driven the related auto parts industry to flourish. Among them, the LED automobile lighting market has grown even faster, with a growth rate that far exceeds the average growth rate of automobile-related industries. In the past two years, the LED lamp market has grown at a rate of more than 40%.

The LED display market will continue to grow rapidly in the future, and is expected to maintain a growth rate of about 15% in the next 3-5 years. Among them, LED full-color display screens will grow faster, reaching an average annual growth rate of about 30%.

Based on the above data, Qianzhan Industry Research Institute predicts that among the various global LED application fields, general lighting and automotive lighting are the fastest growing markets and will become an important driving factor in promoting the rapid growth of the future LED market size. Display applications will become one of the most stable growth points in the domestic LED application field.