Electroluminescent Panels Market

The global Electroluminescent Panels Market is valued at USD 1.37 Billion in 2023 and is projected to reach a value of USD 4.64 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 14.5% between 2024 and 2032.

Key Highlights of Electroluminescent Panels Market

• Asia Pacific dominated the market accounting for 35.2% of the overall market share in 2023
• North America is projected to witness significant growth during the forecast period
• In 2023, the Blue-Green segment played a crucial role in the market’s growth
• The Automotive segment significantly contributed to the market’s expansion in 2023
• Over the last decades, Electroluminescent Panels have become widely available and illuminating a wide range of products, including watches, vehicle dashboards, emergency exits or even lifesaving medical devices

Electroluminescent Panels Market: Regional Overview

The Asia Pacific Electroluminescent Panels market showed significant dominance in 2023, with 35.2% of revenue share. The Asia Pacific Electroluminescent Panels market has seen remarkable growth in recent years due to technological progress, rising demand for energy-efficient lighting solutions, and the development of the automotive sector. Electroluminescent Panels offer a number of advantages, e.g., low energy consumption, low profile, and flexibility that allow them to be used in a broad range of applications such as clusters of motor vehicles or advertising signs. Furthermore, the region’s focus on sustainable development and stringent energy efficiency legislation also support the adoption of Electroluminescent Panels. Given the automobile industry's increasing integration of advanced display technologies into vehicles and its growing dependency on electric cars, demand for Electroluminescent Panels is projected to grow significantly over the next few years.

U.S. Electroluminescent Panels Market Overview

The Electroluminescent Panels market in the United States, with a valuation of USD 336 Million in 2023, is projected to reach around USD 530 Million by 2032. This forecast indicates a substantial Compound Annual Growth Rate (CAGR) of 5.2% from 2024 to 2032. Demand for energy-efficient lighting solutions, particularly in the automotive and advertising sectors, drives the U.S. Electroluminescent Panels market.

Electroluminescent Panels Market: Types Overview

In 2023, there was remarkable growth in the Blue-Green segment. Based on the Types, the Electroluminescent Panels market is categorized into Blue-Green, Yellow-Green, Pink, Orange, and Others. The Blue-Green segment within the global Electroluminescent Panels market is witnessing robust growth due to its versatility and energy efficiency. They are commonly used in various applications, e.g., car displays, signs, or backlights due to their soothing combination of blues and greens. The demand for them has been stimulated by their ability to provide bright colors in all sectors that use little energy. As a result of technological progress, the adoption of consumer electronics and architectural lighting is being driven by their improved performance and durability. The Blue-Green segment, which contributes significantly towards the Electroluminescent Panels market, is expected to expand further as demand for energy-efficiency lighting solutions increases.

Electroluminescent Panels Market: Applications Overview

In 2023, substantial expansion was observed in the global Electroluminescent Panels market within the Automotive category. The Applications segment is divided into Signage and Displays, Automotive, Consumer Electronics, Aerospace and Defense, and Lighting. Rapid growth, driven by increasing demand for advanced vehicle lighting solutions, is experienced within the automotive segment of the global Electroluminescent Panels market. In the interior and exterior of vehicles, these panels are utilized for various purposes, e.g., to display instrument clusters or additional lighting. In order to enhance their visual appeal and to provide performance benefits such as increased visibility and energy efficiency, their slender, flexible nature allows them to be integrated into a variety of design elements.

The global Electroluminescent Panels market can be categorized as Types, Applications, and Regions.

Key Trends

1. Continuous innovation in Electroluminescent Panels technologies, e.g., increased efficiency, flexibility, and durability, leads to market growth.
2. Environmental concerns and requirements have increased demand for energy-efficient lighting solutions, leading to the use of Electroluminescent Panels as a favorable solution.
3. Due to the emphasis of the automotive industry on advanced technology and aesthetics, Electroluminescent Panels are increasingly integrated into vehicle interiors and exteriors for instrument clusters, displays, or accent lights.
4. Electroluminescent Panels are becoming increasingly popular for advertising thanks to their low profile, flexibility, and eye-catching visual appeal. This results in increased adoption of retail, hospitality, and outdoor advertising.
5. Companies are investing significantly in research and development to improve the performance and functionality of Electroluminescent Panels.

Premium Insights

The automotive sector is a significant adopter of this technology in the global Electroluminescent Panels market. Electroluminescence is proving to be an effective distraction and will find applications in various parts of the vehicle, e.g., dashboard, door handles, interior fittings, and window stickers. It is an ideal choice in the automobile environment due to its flexibility, clarity, and uniformity of illumination, along with resistance to vibration or pressure. With its high and reliable quality, electroluminescent technology enhances the appearance and functionality of vehicles. Companies such as Cochief, renowned for their years of experience, have provided EL products to several car brands around the world to strengthen their role in automotive development further.

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Market Dynamics

By meeting the diverse lighting needs of consumers, by making their different power options flexible and resilient to use scenarios under particular requirements and features like longevity, safety, or lack of UV & heat emissions, EL panels have a strong competitive advantage in stimulating market growth. The wide range of applications, from backlight to photography and astronomy, is made possible by Earlsmann’s affordable EL panel line. Thanks to their slim shape and flexibility compared to credit cards, they are easy to adapt and implement, allowing demand to be driven by different sectors. These panels are well suited to various uses, such as signs and photo frames, to enhance their attractiveness and reach on the market by providing uniform light distribution. Moreover, their increasing popularity is enhanced by the ease of installation with self-adhesive tapes, Velcro, or mounting brackets.

Nejilock stands out in the electronics panel market by offering products and a specific focus on training professionals to set up and produce electroluminescent or printed electronic devices. By concentrating on knowledge and training, Nejilock aims at promoting partnerships with its clients which are not typical in business transactions. In an age characterized by sharing economy, Nejilock consolidates a comprehensive understanding of the design and construction of electroluminescent light panels or flexible sensors to address integration issues, solve production problems as well as offer practical solutions.

Competitive Landscape

Established leaders like Ellumiglow stand out with their comprehensive product offerings and strategic market presence in the competitive landscape of the global Electroluminescent Panels market. The competitiveness of these industry leaders is maintained through constant innovation and Strategic Cooperation, using partnerships with automobile manufacturers to develop tailor-made lighting solutions for vehicles’ interiors.

Recent Market Developments

• In October 2022, Enertis Applus+ and the GdS Optronlab Group collaborated to create a system facilitating extensive daytime electroluminescence tests for inspecting PV modules. These tests are essential because they can affect the performance of modules due to defects in solar cells, such as cracks or broken contacts that may lead to loss of power. In quality control checks, electroluminescenceEL®) tests and thermography are increasingly used for the assessment of module conditions. Despite being integrated into quality control, EL testing presents challenges, such as the need for polarization and low signal intensity. However, the newly developed device, utilizing near-infrared sensitive cameras and specialized acquisition techniques, enables daytime EL measurements without panel disassembly.