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The entire industry chain is hot
As the price of LED lighting products declined, the company's sales also experienced explosive growth. Li Xuliang, chairman of LED lighting application company Qinshang Optoelectronics Co., Ltd. said that the company is currently producing at full capacity for 24 hours, but still can not meet the needs of customers, and needs to outsource some production links.
The rapid growth of the downstream lighting market has brought a large number of orders to the midstream packaging companies. Packing orders in the first few months of this year have already allowed our production lines to operate at full capacity, mainly due to the increasing demand for downstream applications in the domestic market. Luo Jing, deputy general manager of marketing of Zhejiang Zhongzhou Optoelectronics Co., Ltd., said that since the beginning of this year, traditional lighting companies have increased the LED transformation, including NVC, Hongyan, Delixi and other companies have made a lot of single.
The mid-stream packaging enterprises' full-load production has gradually transferred the market to the upstream. After May of this year, the industry has undergone a major turning point, which is what the entire industry's entrepreneurs and experts did not expect. Everyone thought that the industry turning point would appear in 2014, and the signs that supply is in short supply are already very obvious.
There are two main reasons behind this phenomenon. Zheng Tiemin said that the first is related to the start of the indoor lighting market, and the second is because the domestic LED lighting companies, especially the upstream enterprises, have not started enough. Zheng Tiemin said that from the second half of the previous year to last year, because of the lower profits of the products and the oversupply of the market, the domestic manufacturers are generally underemployed, the equipment is basically not running 100, the supply and demand of the market are balanced; the market demand suddenly increases this year, but the equipment is completely The start-up requires a process, and the production capacity cannot be kept up for a while, so there is a situation in which supply exceeds supply.
Wang Haibo, vice chairman of China Lighting Association and director of the Institute of Electrical Light Source Materials of Nanjing University of Technology, also agreed. On the one hand, the market situation was not good in the previous period. The enterprises in the middle and lower reaches of the industry chain, including the circulation field, basically settled by sales and did not dare to have stocks. For example, chip manufacturers generally have a operating rate of less than 50. On the other hand, it is also because the price-performance ratio of LED lighting products has the basic conditions for market sales, and has been accepted by ordinary consumers. After all, its price is not much more expensive than energy-saving lamps.
Chen Yansheng, chairman of China's semiconductor lighting/LED industry and application alliance, also believes that the cost-effectiveness of LED lighting products is an important reason for the rapid growth of the market. With the reduction of the price of LED lighting products, its cost performance continues to increase. From the perspective of the domestic market, LED lighting products were mainly used in engineering, such as hotels, shopping malls, parking lots, etc. At present, more and more household consumers use LED lighting products, and the retail sales of dealers increase, which naturally drives manufacturers to increase production. From the perspective of foreign markets, the demand for LED lighting products has also been growing, and the growth momentum has been very obvious since last year.
Rationally view the rapid growth of the market
The continued rapid growth of the LED lighting market has given rise to two views in the industry. First, the explosive growth period of the LED lighting market is expected to come early in the next year. To this end, a number of LED companies have recently indicated that they are expanding production, and many of them are new to enter. It is even more rumored that Dehao Runda will build 500 LED packaging production lines, and the news that the once-discontinued NVC Lighting and Ruifeng Optoelectronics established a joint venture was also reported to be resurrected. Another pessimistic view is that this is only a temporary phenomenon that will be short-lived, and the market will soon be oversupplied again.
I think both views are too extreme. Wang Haibo said that just as the speed of road repair cannot keep up with the growth rate of automobiles, the speed of market development can never be compared with the speed of production capacity improvement. This is especially true for the modern high-efficiency production system of LED lighting products. What's more, we are not without production capacity, but the capacity has not been fully opened before, so the argument of explosive growth is naturally not established. At the same time, the market share of LED lighting products is very small, and the potential market is still very large. From the infiltration of coastal cities to inland cities to rural markets, a process that is understood and accepted by consumers is also needed. This level of consumption also determines The growth of the LED lighting market will not be short-lived.
I am also not in favor of the market explosion or outbreak. Chen Yansheng stressed that although the market is in good condition, the company’s incitement should be suppressed. The improvement of the cost performance of LED lighting products is driving the market advantage from the downstream of the industrial chain to the middle and upper reaches. The rapid growth of the downstream market has caused the midstream packaging enterprises to recover from under-employment to production capacity. However, the upstream epitaxial chip companies are not all in good condition and small in scale. Enterprises may not be able to benefit from it, so it is still necessary to look at the current situation from both positive and negative aspects.
On the one hand, at present, there are too many LED lighting production enterprises in China, and the strength of large enterprises will suppress the growth momentum of small enterprises, which is conducive to promoting industrial integration. This is a positive impact. Chen Yansheng said that on the other hand, although the growth of market demand is a normal phenomenon, it is not normal to increase too much. For a certain company, it is possible to double the sales volume, but for the entire industry, whether this growth is sustainable or a problem. Then, will blind production bring the problem of pressure storage? After the product reaches the dealer, can it still be sold to the consumer?
Judging from the law of market economy development, this round of hot market is temporary, but it will continue for some time. With the increase in capacity utilization, the market will maintain a dynamic balance from being in short supply to oversupply. Zheng Tiemin said that we are delighted to see that the domestic LED lighting civilian market is starting up, not only in the urban market, but also in many large townships and towns. Zheng Tiemin stressed that the concept of rural encircling the city is also suitable for the LED lighting market. Only after the rural market that has occupied the main market share is launched, China's LED lighting will usher in a real spring.