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May 19,2021| LED Knowledge
This year, due to the global epidemic, the global economy was obviously reduced. But with the efficient control of the epidemic in our country, we had gained excellent strategy results on making foreign trading stable, making import and export constantly increase for 6 months from June, and the international market share further improved. So, when will the LED screen recover in the overseas market?
In November, the successful signing of RCEP means the largest FTA was born, which has the most population, the most diversified structure, and the largest development potential. This also creates a good condition for those domestic LED screen companies to develop the Southeast Asia market after the epidemic.
In recent years, the LED industry displays a trend of "integrated industry chain" and "high-end applications" because of the consumption upgrade. Furthermore, due to the lower customs threshold and the developing costs in this area, it is beneficial for LED screen companies to develop this market.
According to the data, with the fast recovery of China's economy, although the global LED screen market's shipments reduced by 23.3% year on year, it still increased by 21.3% from the previous month. Throughout the whole LED screen market, although the epidemic deeply influenced it, the LED screen companies adjusted the product and market strategy, and actively developed the sales channels, and developed the vertical market and applications.
The shipments of small-pitch LED displays still keep increasing under the quarterly level, especially having a strong power in government commander room, office, 8K UHD broadcasting, and hospital in the domestic market. Some industry experts thought this trend would further develop in European, Asia Pacific, and Middle East markets after recovering.
The need reduction of the LED screen made many Chinese brands more focused in the domestic market, which causes the price competition to become serious. The original high-end brands began to develop the sales channels of second-and third-tier cities and reduced the retail price to fill the missing overseas market. As a result, this situation made many second-tier brands difficult to operate and had to change their strategy to close their LED screen business, making the market shares of many first-tier brands constantly increase.
If some gathered events, such as the large outdoor events and sports competitions, still be postponed, and causing the needs of larger pixel pitch LED screens and rental LED screens constantly bad, it will make some second-tire brands further decline in the next few quarters. Although the LED screen industry began to recover in the second half of this year, many foreign trade companies didn't avoid the market downturn in the first half. There is no doubt that the epidemic accelerated the development trend of the domestic LED industry.
In conclusion, under a large global trade reduction background, China's import and export still display an increasing situation; the small-pitch LED screen market is constantly increasing. Both the domestic market and overseas market have strong needs. With the control of overseas epidemic later, the LED screen companies can have a good attitude towards the overseas market. But we still need to prepare to face the opportunities and challenges in the future.