32.27%！ LED Display Export Growth in the First Half of the Year
32.27%！ LED Display Export Growth in the First Half of the Year
The black swan of the epidemic is raging, and against the background of the shrinking demand in the domestic terminal market, the export of LED display is outstanding. The strong rebound in overseas markets has added new development momentum to the LED display industry. "Since the second half of last year, the overseas market situation has improved significantly, especially in the first half of this year, the export growth is more obvious." A senior executive in charge of sales at a display company told Gaogong LED that the export market may be much better than the domestic market this year. The data also confirm this point. Customs statistics show that the export of rental LED screen reached $705 million (about 4.760 billion yuan) in the first half of 2022, an increase of 32.27% over the same period last year. According to the analysis of GGII, with the normalization of the epidemic situation in overseas markets, the economic and cultural activities of countries in export markets tend to be normal, which also stimulates the activity of downstream consumer markets, while the appreciation of the US dollar further stimulates exports. From the semi-annual performance forecasts and quarterly reports of many display listed companies, it is also clear that the growth of overseas markets this year is much higher than that of domestic markets. Gaogong LED has also received consistent feedback from enterprises in the recent "2022 Gaogong Discovery Tour, Entering Display TOP100" research activities, and the overseas market this year is much better than in previous years. Export "reversal" Affected by the epidemic, domestic downstream terminal consumption demand is weak. GGII statistics show that from January to June 2022, the shipments of LED video wall applications decreased by more than 20% year-on-year, the supporting LED display industry chain was affected, and the capacity utilization rate was maintained at about 60%. According to Gaogong LED research, the outbreak of epidemics in many places in China in the first half of the year, especially in the second quarter, led to extreme shrinkage of market demand. Several senior executives of LED display industry chain enterprises told Gaogong LED that since April, they have clearly felt the rapid decline in downstream demand, including chips, lamp beads and other products with different price cuts. Gaogong LED learned that since April, the overall price of RGB lamp beads has dropped by more than 15%, and sales have also fallen by about 20%. In addition, a number of LED chip manufacturers also said that the market has been relatively depressed since the second quarter. Some insiders of chip companies even use the word "bleak" to describe it. Under such circumstances, the gradual recovery of the overseas market is like a "shot in the arm" to add some warmth to the extremely "cold" year of the LED video wall industry. According to the statistics released by the Customs, GGII found that the export amount of domestic LED display in January-June 2022 was 705 million US dollars (about 4.760 billion RMB), an increase of 32.27% compared with 533 million US dollars (about 3.601 billion RMB) in the first half of 2021. Most notably, LED display exports in the first half of 2022 have surpassed the $519 million in the first half of 2019 before the epidemic. It shows a V-shaped reversal.
