Core Insights - The global LED chip production is projected to reach 87.24 billion units in 2024, with an average price of $0.39 per thousand units, highlighting the significant scale of the market [1] - The LED chip market is driven by the urgent global demand for energy efficiency and sustainable solutions, supported by government policies promoting LED adoption [2] - The market is experiencing a shift towards high-value applications, with emerging sectors such as automotive, smart homes, and ultra-high-definition displays driving growth [3] Market Dynamics - The LED chip market is primarily led by major players like Sanan Optoelectronics, which dominate the domestic market through scale production and technological advantages [1][8] - The market is expected to grow at a compound annual growth rate (CAGR) of 6.5%, reaching a size of $4.101 billion by 2031 in China [5] - High-power LEDs account for 70.25% of the market share, indicating a strong preference for this product type [10] Technological Trends - Mini/Micro LED technology is becoming a focal point for industry upgrades, enhancing display performance and integration density [3] - The maturity of compound semiconductor technologies, such as GaN-on-Si, is optimizing cost-performance balance in LED manufacturing [3] Application Expansion - LED chips are transitioning from general lighting to high-value sectors, including plant lighting, UV LEDs for sterilization, and automotive optics [3] - The integration of LED technology with smart systems is advancing, offering health-oriented lighting solutions through spectral adjustments [3] Competitive Landscape - The top five manufacturers in China hold approximately 72.0% of the market share, indicating a concentrated competitive environment [8] - The industry is witnessing accelerated consolidation, with leading companies enhancing competitiveness through vertical integration [3]