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Lighting apps top LED component revenues

Posted: 18 Feb 2013     Print Version  Bookmark and Share

Keywords:led  backlight  display 

The global market for LED components was Rs.74,863.39 crore ($13.7 billion) and is expected to grow to Rs.89,617.49 crore ($16.4 billion) in 2017, at a CAGR of 3.7 per cent, with lighting applications exceeding display backlight segment in 2012, according to Strategies Unlimited. LED component revenue for lighting applications for the first time exceeded the display backlight segment in 2012, noted the firm.

Sales for lighting components reached Rs.16,994.54 crore ($3.11 billion) while LED backlight components added up to just Rs.16,721.31 crore ($3.06 billion), according to Strategies Unlimited.

The firm estimates the total illumination market for 2012 at Rs.79,344.26 crore ($14.52 billion). LED lighting includes LED replacement lamps and luminaires is estimated at Rs.64,043.72 crore ($11.72 billion)—an increase of 26 per cent between 2011 and 2012—and it is forecast to grow at a CAGR of 12 per cent over 2012-2017.

The 2012 estimate for revenues for the illumination market, not addressed by the LED Replacement Lamps and Luminaires is Rs.15,027.32 crore ($2.75 billion) revenue. These other applications include: decorative/festive/Xmas light strings; tube lights that go into many untraceable applications including signs; flexible tape and strips of LEDs sold in applications ranging from step lighting to lighting stairs to DIY cove lighting; and all other miscellaneous.

Commercial applications are the largest segment and grew the fastest—72 per cent—in the LED lighting market followed by replacement lamps. Japanese market was the primary driver for the 22 per cent growth in replacement lamp revenues from 2011 to 2012. The slower growing segments such as emergency and industrial lighting depend on the overall economic activity; entertainment lighting was a victim of slow-down in European financial crisis, after the frenzy for the Olympics.

LED market by application segments

LED market by application segments.

LEDs used in large display backlights also reached a new record at Rs.16,721.31 crore ($3.06 billion) in 2012. This is chiefly due to the success in penetrating the CCFL stronghold of the 32inch TV. Low cost direct technology, also known as "chubby TV" technology because the TVs are thicker than edge-lit ones and narrows the price gap between CCFL and LED backlit TV to an insignificant level. Both Samsung and LG have announced they will stop making CCFL TVs.

The number of cars with LED headlights nearly doubled in 2012. Revenue for 2012 was Rs.530.05 crore ($97 million) and the five-year CAGR is projected to be 36 per cent. Revenue derived from daytime running lights (DRL) grew 31 per cent to Rs.1,092.90 crore ($200 million) in 2012. DRL growth is expected to slow down as the penetration rate is forecast to reach 45 per cent in 2017. The total market for LEDs in the automotive segment was Rs.7,650.27 crore ($1.4 billion) in 2012, and is projected to grow to Rs.11,475.41 crore ($2.1 billion) in 2017.

While LED revenue from tablets grew 54 per cent to Rs.3,158.47 crore ($578 million), the overall mobile segment dropped 3 per cent. The drop in notebook backlight demand, the OLED success in smart phone display, and the general demand decline for other small and medium display will take the segment down to Rs.5,234.97 crore ($958 million) in 2017, for a 5 year CAGR of -7 per cent.

On the supply side, eleven companies accounted for more than 72 per cent of the LED market. Strategies Unlimited arrived at these figures after analysing market demand as well as the supply-side activity of more than 54 LED component suppliers. The rank order of the top 11 suppliers in the LED market for 2012, by revenue of packaged LED components, is:
1. Nichia
2. Samsung LED
3. Osram Opto Semiconductors
4. LG Innotek
5. Seoul Semiconductor
5. Philips Lumileds
7. Cree
8. TG
9. Sharp
10. Everlight
11. Lumens

For more statistics and forecasts, click here.

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