Market for semiconductor light emitting diodes (LEDs) in China anticipated to continue its upward consumption

China’s semiconductor light-emitting diode (LED) market is projected to experience modest growth through 2035. Consumption is expected to increase at a compound annual growth rate (CAGR) of 0.3%, reaching approximately 1.6 million tons by 2035. In terms of market value, a CAGR of 0.6% is anticipated, with the market reaching around $12.3 billion by the end of the forecast period.

In 2024, China’s consumption of semiconductor LEDs rose by 23% to 1.5 million tons, marking the second consecutive year of growth following two years of decline. This increase represents a 50.2% rise compared to 2022 levels. The market value also saw a notable uptick, growing by 10% to $11.6 billion in 2024.

The anticipated steady growth in China’s semiconductor LED market is driven by ongoing demand across various sectors, including automotive, consumer electronics, and industrial applications. While the growth rates are modest, the consistent upward trend reflects the integral role of LEDs in modern technology and infrastructure.