An LED is a semiconductor light source used for various applications
such as general lighting, back lighting, and automotive lighting. LED
lighting applications include residential, office, retail, hospitality,
industrial, outdoor, architectural, and others. LEDs are gaining
acceptance in these applications because of their greater efficiency and
low cost. Also, LEDs are able to address some key issues that the world
faces today such as the energy crisis, resource scarcity, climate
change, safety in and attractiveness of cities, productivity in offices,
and an enhanced sense of health and well-being, as lighting consumes
approximately 20 percent of all electricity in the world. LED lighting
can save on an average up to 40 percent of energy. Analysts forecast the
LED market in South Korea will grow at a CAGR of 21.53 percent over the period 2013-2018.
The
Report recognizes the following companies as the key players in LED
Market in South Korea: Cree Inc., LG Innotek Co. Ltd., Nichia Corp.,
Osram Opto Semiconductors GmbH, Philips LumiLeds Lighting Co. LLC,
Samsung LED Co. Ltd., Seoul Semiconductor Co. Ltd., Everlight
Electronics Co. Ltd., GE Lighting LLC, Lite-On Technology Corp., Toyoda
Gosei Co. Ltd., Wooree E&L Co. Ltd.
Fierce competition among
major LED lightbulb suppliers in South Korea has resulted in a decline
in the ASP of LED lightbulbs. The ASP of a 40 W LED lightbulb dropped to
US$10 and a 60 W LED lightbulb fell to US$20 in 2012. Currently, many
LED vendors in South Korea are actively participating in the price war
and are offering 40 W and 60 W replacement LED lightbulbs at
significantly lower prices. This has made LED lightbulbs affordable to
consumers, resulting in their increased adoption.
This report covers the present scenario and the growth prospects of the LED market in South Korea for the period 2014-2018.
The LED market in South Korea can be divided into three segments based on application:
• Automotive Lighting
• Backlighting
• General Lighting
LED Market in South Korea 2014-2018, has been prepared based on an
in-depth market analysis with inputs from industry experts. The report
covers South Korea; it also covers the LED market landscape and its
growth prospects in the coming years. The report also includes a
discussion of the key vendors operating in this market.
According
to the report, several factors drive the growth of the LED market in
South Korea, a major one being the need for energy-efficient lighting
solutions. Global warming and escalating energy costs have compelled
both the government and consumers to reduce the consumption of energy
and associated environmental impacts arising from carbon emissions in
South Korea. Hence, the government, in an effort to conserve energy and
reduce costs, is increasingly promoting the adoption of energy-efficient
lighting products.
Further, the report states that one of the
major challenges is the high installation cost of LEDs. The
manufacturing process of LEDs incurs high upfront costs such as the
installation of MOCVD equipment and the price of raw materials such as
compound semiconductors and substrates.
