From December 21st to 22nd, 2017, the 2017 High-Tech LED Annual Meeting and Golden Globe Awards Ceremony, organized by Gaogong LED, took place in Shenzhen Baoan Dunxi Road. The event was themed “Deepening the smoke and softening the strength, and deep integration to tap new opportunities.†It marked a significant gathering for industry professionals and key players in the LED sector.
As one of the most anticipated year-end events in the LED industry chain, the 2017 High-Tech LED Annual Meeting brought together over 400 industry leaders and experts. Attendees explored the future landscape of the LED industry, discussing market trends, capital flows, technological advancements, and strategies for deep integration. The discussions aimed to uncover new growth opportunities and address critical challenges facing the industry.
On the morning of December 22nd, during the special session titled “LED Packaging Equipment and Materials: LED Packaging Equipment is Changing,†Luo Huanta, Dean of the Gaogong LED Industry Research Institute, presented the “2017 LED Development Data Report.†This report provided comprehensive insights into the state and direction of China’s LED industry.
[Image: Luo Huanta, Dean of Gaogong LED Industry Research Institute]
According to data from the Gaogong Guangzhou Institute of Industrial Research (GGII), the total scale of China's LED industry reached 636.8 billion yuan in 2017, reflecting a 21% year-on-year increase. The upstream chip segment experienced rapid growth, while the midstream packaging developed steadily, and downstream applications continued to expand rapidly. GGII forecasts that the compound annual growth rate of China's LED output will reach 18% between 2018 and 2020, with the industry surpassing 1 trillion yuan by 2020.
Luo Huanta noted that the LED industry has been growing faster than in previous years, particularly in downstream applications, which are seeing accelerated development. He emphasized that by 2020, the LED industry is expected to become a trillion-dollar market, offering immense potential for all participants.
In the chip market, China's LED chip output value reached 18.8 billion yuan in 2017, accounting for nearly 40% of global production. Domestic MOCVD equipment has become a key driver of this expansion. By the end of 2017, mainland China had over 1,600 MOCVD machines. GGII predicts that China's chip output value will exceed 50% of the global market by 2019.
Luo Huanta explained that the growth in 2017 outpaced 2015 and 2016 due to rising chip prices, shifting production from Taiwan, and increasing demand for small-pitch displays. 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.
In the packaging sector, China's LED packaging output 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, with SMD packages making up 63% of the market.
Currently, the packaging industry is still in an early stage, with market concentration gradually increasing. Leading companies such as Mu Linsen, Guoxing Optoelectronics, and Hongli Zhihui dominate the market. However, the overall concentration remains low, with nearly 70% of the market held by smaller or less-known companies. This suggests ongoing expansion and reshuffling in the coming years.
In the downstream market, China's LED applications generated 531 billion yuan in 2017, a 22% increase. LED lighting accounted for 66.7% of the market, while LED display panels saw strong growth due to the popularity of small-pitch technology. Meanwhile, the backlight market grew slowly, with its share declining to 8.3%.
Lighting remains the largest segment of the LED market. China's LED lighting output reached 296.9 billion yuan in 2017, up 21% from the previous year. With international players exiting the general lighting business, China's market share is expected to rise further, reaching 61% globally by 2020.
Luo Huanta concluded that although the top three Chinese lighting companies currently hold around 6% of the market, there is still significant room for consolidation and growth in the future.
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