It has been found that LG Display is working on vehicular OLED interior and exterior lights with German automakers such as Mercedes Benz, Audi and Volkswagen and LG Display is expected to supply them with the lights starting from next year.
The OLED lights are likely to be produced at LG Display’s P5 Plant located in Gumi, South Korea. At present, LG Display, the only company in the world that is capable of manufacturing OLED lighting panels, is test-running fifth-generation OLED lighting manufacturing equipment in the plant. It is aiming to start the mass production of the lights after increasing its monthly production capacity to at least 15,000 units before the end of this year.
According to market research firm UBI Research, the size of the global OLED lighting market is expected to increase from US$135 million to US$1.619 billion between last year and 2020. Panasonic and Osram recently entered the market that has been led by LG Display.
UBI Research said that LG Display’s OLED lighting sales are estimated to reach US$850 million in 2020 and its global market share is likely to jump from 15% to 53% between last year and 2020.