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The electroluminescent (EL) panels market is expected to grow at a CAGR of about 7% in the forecast period of 2024-2032.
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The rising shift towards digital devices and appliances from analogue is leading to a growing market for displays, not just for average consumers but also in defence and medical, as well as in outdoor marketing and signs for public communication. EL panels are a standard choice for low-cost digital displays as they are beginning to replace physical boards/meters to enhance visibility and versatility of information. As individuals and institutions become more environmentally conscious, EL panels are becoming more relevant due to their low energy consumption and inherent compatibility with solar energy sources. While already common in certain regions, EL panels are being widely adopted in developing countries. Meanwhile, the Asia Pacific region is expected to show a significant increase in market size during the forecast period of 2024-2032.
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Electroluminescence is a phenomenon that occurs when a material produces light due to the passage of electric current or in response to a strong electric field. The material used is typically a semiconductor and may be organic or inorganic.
EL panels are composed of a capacitor with an electroluminescent dielectric between the plates that releases photons when charged. They have been in use since 1938 but have become increasingly popular today as the backlights for LCD displays.
Electroluminescent panels can be classified based on shape as:
The market can be broadly categorised on the basis of the colour of these panels into:
The global EL panels market can be segmented based on applications as:
The EMR report looks into the regional markets of electroluminescent (EL) panels like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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As processes become increasingly modern, physical meters and analogue devices commonly used in industries are becoming digitally controlled and need to be replaced with cheap, low consumption displays. This is one of the major applications of EL panels, which has led to a rise in demand for the product, especially in the developing regions like the Asia Pacific, where the shift towards digitalisation is still underway.
In developed countries, in cases where displays are required to be in operation for a large period of time such as advertisement boards, information for public transport, and others., EL panels are ideal due to their low energy requirements, especially in outdoor situations where solar power can be harnessed as well. Thus, the growing adoption of energy-efficient devices owing to the rising environmental concern is expected to aid the market growth in the coming years.
The report presents a detailed analysis of the following key players in the global electroluminescent panel market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Shape |
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Breakup by Colour |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The electroluminescent panels market is expected to show a healthy growth during the forecast period of 2024-2032, growing at a CAGR of 7%.
The major drivers of the industry, such as rising disposable incomes, shift from analogue to digital devices and displays, rapid urbanisation, and increasing demand for eco-friendly appliances, are expected to aid the market growth.
The key industry trend driving the growth of the market is the growing reliance on solar-powered devices.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Based on shape, EL panels are classified as rectangle, square, strip, and round, among others.
The market can be divided based on colour of the panel into white, blue, green, red, and others.
The major applications of EL panels include advertising displays, construction, automotive industry, aircraft, defence, signs, and consumer electronics, among others.
The key industry players discussed in the report include Cochief Industrial Co., Ltd., Nejilock Technology Pte Ltd, Technolight, Ellumiglow, Aircraft Engineering & Installation Services Inc., and Shanghai Keyan Phosphor Technology Co.,Ltd. (KPT), among others.
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