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Global LED Lighting Industry Set to Benefit from an Estimated 5.8 Billion Units of Secondary Replacement Demand for LED Lamps and Luminaires in 2024, Says TrendForce

2024/03/04

LED

TrendForce’s latest reports indicate a significant turning point for the LED lighting market in 2024, as an estimated quantity of 5.8 billion LED lamps and luminaires reach the end of their lifespan. This milestone is set to trigger a substantial wave of secondary replacements, breathing new life into the market and boosting total LED lighting demand to an impressive 13.4 billion units.

Press Releases
5% Dip Predicted in 2023 Revenues for Top 10 Lighting Giants, Demand Recovery Expected by 2Q24, Says TrendForce

2023/12/27

LED

TrendForce’s lighting market research indicates a noticeable improvement in inventory depletion for lighting companies compared to the first half of 2023. Growth has been seen in outdoor lighting orders and renovation projects. However, demand remains subdued across most retail, indoor lighting, and specialized lighting sectors.

Press Releases
Rebound in Mini LED Product Shipments to 13.79 Million Units in 2024, Continued Growth Expected Until 2027, Says TrendForce

2023/11/03

LED

TrendForce's "2024 New Mini LED BLU Display Trend Analysis" report reveals that due to declining demand in consumer electronics, shipments of Mini LED products are expected to decrease to 13.337 million units in 2023.

Press Releases
LED Market Revenue for 2021 Projected to Reach US$16.53 Billion Mainly Due to Automotive/Mini LED Applications, Says TrendForce

2021/05/18

LED

Owing to the impact of the COVID-19 pandemic in 2020, not only did LED revenue experience a downward trajectory, but this decline also reached a magnitude rarely seen in recent years, according to TrendForce’s latest investigations. However, as vaccinations begin taking place in 1H21, the LED market’s long-stifled demand is expected to rebound from rock bottom. Hence, global LED market revenue will likely undergo a corresponding recovery this year as well, with a forecasted US$16.53 billion, an 8.1% increase YoY, in 2021. Most of this increase can be attributed to four major categories, including automotive LED, Mini/Micro LED, video wall LED, and UV/IR LED.

Press Releases
Industry Giant Cree to Divest Its LED Operations as Part of Business Transformation, While LED Supply Chain Continues Its Shift to Asia, Says TrendForce

2020/10/20

LED

After global LED giant Cree divested its lighting business in 2019, the companies today (Oct. 20) announced its plan to sell its LED business to SMART Global Holdings (SGH) for US$300 million. TrendForce indicates that Chinese manufacturers have quickly risen in the LED industry in recent years, benefiting from superior production capacities and cost optimization measures. These manufacturers are continuing to capture the existing market shares of major overseas LED companies, such as Nichia, OSRAM OS, Lumileds, and Cree. Furthermore, given the poor state of the global economy in the past two years, companies that were previously dominant in the LED industry must now deal with the difficult reality of having their business operations or stocks sold off to other companies.

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