LED industry benefits from lighting market

With the progress of technology, LED applications are shifting from the traditional indication and backlight fields to the lighting field, and the market space in the lighting field is very broad. Guotai Junan's recent research believes that the current LED industry has benefited from the launch of the lighting market, which is ushering in a good historical scene and has entered a three-year long period of high prosperity. In addition, mainland enterprises benefit from the comprehensive advantages of technology, cost and support, and will enjoy the LED manufacturing chain transfer premium. The ratio of supply and demand in the industry in 2014 was only 1. 04 (1. 1 is the safe water level) , Close to the high level of industry history in 2010. At the same time, the supply side contracted significantly. CSA Statistics show that at the end of 2013, the total number of MOCVD units in China was 1090, an increase of about 2012 units over 110, far lower than the industry growth rate and the growth rate of downstream application demand. With the substantial export of subsidies, future expansion will be more rational. In addition, the demand side is fast. The LED lighting market has entered a high-speed growth range of 15. Take leading enterprises as an example. New orders will grow more than twice year-on-year in 2014, and the average growth rate of the industry will double. Industry Chain survey shows that from the end of 2013 to the end of May 2014, chip prices fell within 3, far better than the market expectation of 10, and it is expected that there will be a structural price increase in the future. In the medium and long term, as the mainstream size of the epitaxial wafer is switched to 4 inches, the chip size is reduced, and the light efficiency continues to improve, the chip profitability is expected to continue to optimize. After the downstream application products have experienced the process of actively reducing the price and seeking the market, they have now dropped to close to the price of energy-saving lamps, and the subsequent price reduction space is limited. According to the survey, 3WLED lights have fallen by 33 to 2 in the past year. 9 US dollars, only the same energy-saving lamp 1. 5 times, and domestic cost-effective products are close to the price of energy-saving lamps. In the medium and long term, with the increase of intelligent and dimmable ratio, the added value of application end is expected to increase. Industry Chain survey also shows: 1) The utilization rate of chip capacity continued to be full. Due to the failure to form enough new capacity in the short term, the supply of most varieties of chips began to be tight in the second quarter. In order to seize the upstream resources, the downstream manufacturers have successively announced that they have signed a long-term order with the chip factory that does not lock the price for more than one year (History for the first time). 2) The visibility of LED lighting orders has exceeded the historical 3 months, and the current orders have reached 8 ~ The level in October. The whole industrial chain in the mainland is already competitive, benefiting from the comprehensive advantages of technology, cost and supporting, and will bear the heavy responsibility of LED manufacturing. According to the survey, after the application has become an international manufacturing center, domestic chips have accounted for more than half of domestic applications, and it is expected to achieve a large share of overseas foundry. LED manufacturing is expected to breed similar semiconductor foundry in the mainland-Oligopoly enterprises. The leading enterprises in the related chip, packaging and terminal markets deserve to be paid close attention to: Sanan Optoelectronics, Liad, maoshuo power supply, Foshan Lighting, qinshang Optoelectronics, sunshine lighting, etc.