With the emergence of the 8K concept and the new Mini/Micro LED display technology, the LED display market will show a steady growth trend before 2020. According to TrendForce Consulting data, the global output value of LED display in 2019 was about 6.3 billion dollars, an increase of 8.5% compared with 2018. However, due to the outbreak of the epidemic at the end of 2019, the LED display industry suffered a relatively large negative impact in 2020. The global LED display market scale declined in that year, with the overall market output value only about 5.5 billion dollars, an annual decline of 12.8%. This year, the performance of domestic LED display manufacturers fell across the board.
In 2021, the market began to turn around. According to TrendForce Consulting analysis, with the improvement of the global vaccination rate, the implementation of national incentive policies and the resumption of commercial activities, sports events and large-scale events, the LED display market demand has grown significantly, and the global market size has reached 6.8 billion US dollars, a year-on-year growth of over 23%.
In this context, the industry concentration is further improved. TrendForce Consulting research data shows that the market share of the world top 10 LED display vendors increased to 71% in 2021 and is expected to continue growing this year. It is worth noting that with the expansion of domestic demand in China, nearly 40% of the world display screens are concentrated in the Chinese market.
At the same time, the head effect became more pronounced. According to the data disclosed in the annual report of Chinese enterprises in 2021, the total shipment area of the five listed LED display enterprises exceeds 1.6 million square meters, among which, the shipment area of Zhouming Technology reaches 814,550.04 square meters, accounting for more than 50%, ranking the first among listed LED display enterprises. In terms of 2018 to 2021, the sales volume of Zhouming Technology products in 2021 increased rapidly and significantly.