General lighting surpasses displays backlighting market
At the opportunity of the Strategies in Light industry fair, market researcher Strategies Unlimited announced its recent figures for the LED market. The company estimates the total illumination market for 2012 at $14.52 billion. LED lighting includes LED replacement lamps and luminaires is estimated at $11.72 billion—an increase of 26% between 2011 and 2012—and it is forecast to grow at a CAGR of 12% over 2012-2017. Strategies Unlimited for the first time estimated the market size outside the traditional replacement lamps and luminaires.
The 2012 estimate for revenues for the illumination market, not addressed by the LED Replacement Lamps and Luminaires is $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%—in the LED lighting market followed by replacement lamps. Japanese market was the primary driver for the 22% 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.
Image: LED market by application segments.
LEDs used in large display backlights also reached a new record at $3.06 billion in 2012. This is chiefly due to the success in penetrating the CCFL stronghold of the 32- inch 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 $97 million and the five-year CAGR is projected to be 36%. Revenue derived from daytime running lights (DRL) grew 31% to $200 million in 2012. DRL growth is expected to slow down as the penetration rate is forecast to reach 45% in 2017. The total market for LEDs in the automotive segment was $1.4 billion in 2012, and is projected to grow to $2.1 billion in 2017.
While LED revenue from tablets grew 54% to $578 million, the overall mobile segment dropped 3%. 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 $958 million in 2017, for a 5 year CAGR of -7%.
On the supply side, eleven companies accounted for more than 72% of the LED market. Strategies Unlimited arrived at these figures after analyzing 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 information visit https://www.strategies-u.com/index.html
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