From December 21st to 22nd, 2017, the 2017 High-Tech LED Annual Meeting and Golden Globe Awards Ceremony, hosted by Gaogong LED, took place in Shenzhen Baoan Dunxi Road. The event was themed “Deepening the Smoke and Softening the Strength, and Deep Integration for New Opportunities.†The grand event brought together industry leaders, experts, and professionals from across the LED sector.
As a major year-end gathering for the LED industry chain, the 2017 High-Tech LED Annual Meeting once again attracted over 400 industry elites. Participants discussed the future landscape of the LED industry, exploring trends in market dynamics, capital flow, and technological advancements. They also focused on deep integration and strategies for tapping into new opportunities amid the evolving industrial environment. The discussions aimed to address key challenges and support the industry’s path toward a "decisive victory."
During the special session titled “LED Packaging Equipment and Materials: Changes and Innovations,†Luo Huanta, Dean of the Gaogong LED Industry Research Institute, presented the “2017 LED Development Data Report.†This report provided valuable insights into the current state and future direction of the industry.
According to data from the Gaogong LED Industry Research Institute (GGII), China's LED industry reached a total scale of 636.8 billion yuan in 2017, representing a 21% year-on-year growth. The upstream chip segment experienced rapid growth, while the midstream packaging developed steadily, and downstream applications continued to expand at a fast pace. GGII predicts that the compound annual growth rate of China’s LED output will reach 18% from 2018 to 2020, with the industry exceeding one trillion yuan in value by 2020.
Luo Huanta noted that the overall growth trend of the LED industry has been stronger than in previous years, especially in downstream applications, which are showing accelerated growth. He emphasized that by 2020, the LED industry is expected to become a trillion-dollar sector, offering significant opportunities for all participants.
In terms of the LED chip market, the output value reached 18.8 billion yuan in 2017, accounting for nearly 40% of global production. Domestic MOCVD equipment has become the main driver of this expansion. By the end of 2017, mainland China had over 1,600 MOCVD machines. GGII expects China's chip output value to surpass 50% of the global market by 2019.
Luo Huanta explained that the faster growth in 2017 compared to 2015 and 2016 was due to rising chip prices, increased demand from small-pitch markets, and the shift of some Taiwanese production capacity to the Chinese market. However, he warned that after the peak period of expansion, the industry may return to a more stable growth phase, urging caution to avoid overexpansion.
Regarding the LED packaging market, the output value reached 87 billion yuan in 2017, up 18%. From 2018 to 2020, the industry is expected to maintain a growth rate of 13–15%, reaching 128.8 billion yuan by 2020. SMD packages will account for 63% of the market.
Currently, the packaging industry is still in its early stages, with market concentration increasing. Leading companies such as Mu Linsen, Guoxing Optoelectronics, and Hongli Zhihui dominate the sector. However, the overall concentration remains low, and further consolidation is expected in 2018 and beyond.
Luo Huanta highlighted that China’s market share is still relatively low, with nearly 70% of the market dominated by smaller or mid-sized players. As a result, the packaging market is expected to continue expanding and reshuffling through 2020.
In the downstream market, LED applications generated 531 billion yuan in output value in 2017, a 22% increase. LED lighting remained the largest segment, with a 66.7% share. LED displays benefited from the rise in small-pitch technology, increasing their share to 9.4%. Meanwhile, the backlight market grew slowly, dropping to 8.3%.
China's LED lighting industry accounted for 55% of the global market in 2017, with an output value of 296.9 billion yuan, up 21%. With international giants exiting the general lighting business, China’s share is expected to rise to 61% by 2020. The top three Chinese lighting companies currently hold around 6% of the market, leaving ample room for further consolidation.
Overall, the LED industry continues to evolve rapidly, presenting both challenges and opportunities for all stakeholders. The future looks promising, with strong growth anticipated in the coming years.
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