THE MARKET OPPORTUNITY
BluGlass is targeting the rapidly expanding LED, PV and power electronics markets.
With environmental benefits underpinning rapid market expansion, the demand for high efficiency devices and their production methods will have a market force like never before.
The LED market is continuing to experience strong growth.
Navigant Research predict the LED lighting market to grow 45% per year through 2020.
Global revenue from LED lighting systems is expected to total $216 billion through to 2024.
The Concentrated Photovoltaic (CPV) market promises large scale, cost effective renewable energy from the sun.
The solar energy market is growing rapidly, fueled by industry efforts to bring solar-generated electricity costs to grid parity. Solar energy is becoming increasingly competitive in the world’s sunnier regions, to the extent that solar energy is already less expensive than oil-fired power plants for daytime peak electricity generation in regions with high Direct Normal Irradiation (DNI).
The MOCVD market represents a US$6.1 billion opportunity through to the end of the decade - Yole Developpement.
Two global (NASDAQ) MOCVD companies hold +95% of the market - Veeco (US) and Aixtron (GER).
High gross margins: >US$2M system purchase price.
Berenburg estimates a CAGR of 14.13% (2013-2018) and expects the market to reach 500 MOCVD systems shipped in 2017.
Digitimes Research estimates betweeen 186-228 MOCVD units will have been shipped during 2014.
Next growth engine for equipment is the rapidly growing general lighting market.
Source: Gartner Research and Berenburg Estimate, 2014 Be
The power electronics market also presents a growing opportunity for the RPCVD technology.
The GaN and SiC power electronics market is expected to be worth $2.5 billion by 2023.
The emering global market for SiC and GaN power electronics is expected to grow 17 fold over the ten years from 2013 to 2023.
The UV LED is expected to grow from $45M in 2012 to nearly $270M by 20173 with a CAGR of ~43%
Source: Yole Developpement, UV LEDs report, March 2013
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Source: IHS Research
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