TrendForce is optimisic about the global market grown of LED lights from the year 2022 to 2026

According to some market surveys by TrendForce, although facing the influence of covid-19 pandemic, the global LED market volume was up to USD 17.65 billion in the year 2021.

In the near future, the market of mini LED backlights and video walls is still growing, along with more and more market share of automotive LED lights, rising demand for smart lighting,etc. TrendForce estimates that the global LED market volume will be up to USD 30.312 billion in 2026 with a 2021-2026 CAGR of 11%.

In the next years, the main focus of market expansion will be on Micro/Mini LED. Besides many Chinese manufacturers, other suppliers in Taiwan (Epistar), Europe (ams OSRAM) and North America, Japan, and South Korea are keeping production capacity expansion.

The gradual recovery of the LED lights market was clearly reflected in the 2021 manufacturer revenue rankings. LED chips manufacturers including Samsung LED, ams OSRAM, CREE LED, Lumileds, Seoul Semiconductor, MLS, and Lightning have all announced revenue growth. MLS is still the leading manufacturer of LEDs, ranking first in revenue, with an annual revenue growth rate of 34% in 2021. ams OSRAM, Lumileds, CREE LED, and Samsung LED primarily took orders for industrial, outdoor, and horticultural lighting last year, posting annual revenue growth of 26%, 18%, and 8%, respectively.

Let us look at the separate market situation in terms of Micro/Mini LED Market,Automotive LED Light Market, Video Wall Market,Invisible LED Market, Agricultural Lighting Market and general lighiting market for residence, commercial and industrial lighting.

Among them, Micro LED will still be a focus of technology development for the LED industry as the application of this latest technology to large-sized displays, wearables, and head-mount displays is highly promising.Famous suppliers such as Apple and Samsung are active in introducing this technology to launch more and more Mini LED products.

With more and car shipments and car LED lights penetration, the global automotive LED market saw another growth in LED headlights and automotive displays. Also, Intelligent ambient lights will be installed onto high-end car models starting in 2022, leading to steady increases in market value that will likely reach USD 248 million in 2026.

New applications of LED video walls have been created, such as those related to meeting rooms, home theaters, movie cinemas, and virtual production, which will likely make another growth in video wall market. The market scale of outdoor displays—mainly used for advertising, transportation, sports stadiums, and live events—will continue growing in 2022-2026.

The invisible market covers UV LED (including UV-A LED and UV-C LED) and IR LED products. The increasing market for 3D printing, LCD lamination, and wafer applications allows the UV-A market segment to grow. More and more applications are suitable for UV-C LED, such as air and large surface sterilization,automotive air conditioning, dynamic water sterilization, manufacturing industry facility, and factory automation.The IR LED segment mainly comprises applications of security surveillance, 2.5D facial recognition, DMS and OMS, and eye tracking.These applications will boost the market requirement for IR LED in near future.

The agricultural lighting market covers horticulture lighting, animal husbandry lighting, and fishing light markets. Facing the big changes of climate changes, indoor farming and more and more legal medical cannabis cultivation will make increasing market for agricultural lightings. Therefore, more and more horiculture led lights, led work lamps for auxiliary lighting on tractors, combine and other agricultural machines will be needed.

As for general lighting,the market requirement for high-end LED lights will keep rising as smart and human centric lighting become popular.