Buoyed by government support and increased penetration into new applications, the China market for light-emitting diodes (LED) will jump to $5.8 billion in 2011, up a strong 23 percent from $4.7 billion last year.
Gaining greater exposure in markets like liquid crystal display (LCD) TVs and street lighting, LEDs have become a hot item for manufacturing in China and also an attractive investment segment in the country. Moreover, ofﬁcial government commitments to the industry appear to be paying off dividends. The LED market in the world¡¯s most populous country is forecast to reach $6.9 billion next year on its way to $11.1 billion by 2015, equivalent to a ﬁve-year compound annual growth rate by then of 17.7 percent.
Exceedingly broad, the Chinese LED market covers a range of applications including LED displays, trafﬁc signals, automotive use, LCD backlighting, handset key pads, digital still camera ﬂ ashlights, decorative lighting, street lighting and general illumination.
Street lighting will be the biggest segment, reaching $1.5 billion this year and anticipated to hit $1.8 billion in 2012. The LCD backlighting market is also headed for strong growth on the strength of the rapid adoption of LEDs for large-sized LCD TVs and laptops, generating $1.8 billion in 2015, up from $713 million this year.