According to a recent study, the LED industry is fully embracing the fast-growing lighting market as LED lighting has been the largest sector among LED applications, and is expected to be the major driver of the market in 2016. Driven by huge demand forecast from lighting applications, the LED industry is geared toward another phase of capacity expansion after the previous peak observed in 2011.
According to the study, global LED epitaxy monthly capacity reached 2.5 million in 2014 and will surpassed 2.9 million in 2015, showing mid-teen percentage growth in both 2014 and 2015.
However, China is showing a more aggressive expansion plan, with double the growth rate compared to the worldwide growth rate throughout 2013-2016. Chinese LED epitaxy capacity is expected to reach 1 million per month in 2015 and 1.28 million in 2016, accounting for 35% and almost 40% of global capacity, respectively.