Global Electroluminescent (EL) Panels Market Report and Forecast 2024-2032

Global Electroluminescent (EL) Panels Market Outlook

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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Rising Shift Towards Digital Devices to Contribute to the Electroluminescent (EL) Panels Market Growth

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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Global Electroluminescent (EL) Panels Market: Market Segmentation

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:

• Rectangle
• Square
• Strip
• Round
• Others

The market can be broadly categorised on the basis of the colour of these panels into:

• White
• Blue
• Green
• Red
• Others

The global EL panels market can be segmented based on applications as:

• Advertising Display
• Construction
• Automotive
• Aircraft
• Defence
• Signs
• Consumer Electronics
• Others

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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Growing Environmental Concern to Bolster the Electroluminescent (EL) Panels Market Growth

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.

Key Industry Players in the Global Electroluminescent Panel Market

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:

• Cochief Industrial Co., Ltd.
• Nejilock Technology Pte Ltd 
• Technolight
• Ellumiglow 
• Aircraft Engineering & Installation Services Inc. 
• Shanghai Keyan Phosphor Technology Co.,Ltd. (KPT) 
• Others

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.

Key Highlights of the Report