quartz crystal oscillator ,
is the abbreviation of quartz crystal resonator . It is the core product of quartz crystal components. It is a resonant device made using the principle that the chip produces resonant due to piezoelectric effect when the electric signal frequency is equal to quartz chip's inherent mechanical resonance frequency.
crystal oscillator is a crystal that can convert electrical and mechanical energy into resonant state to provide a stable and accurate single-frequency oscillator. It is the core time and frequency element. is an indispensable part of digital circuits. In the field of electronic technology, it is called the salt of industry and the heartbeat generator of digital circuits.
According to the frequency characteristics, common quartz crystal resonators are divided into the following two categories:
According to the packaging method, quartz crystal resonators can be divided into two categories: DIP (dual inline-pin package, dual inline-pin packaging technology) and SMD (Surface Mounted Devices)
DIP Crystal Oscillator main application areas are personal computers, household appliances, electronic toys, quartz watches, various timing devices, etc. The above terminal products provide relatively abundant installation space for micro components.
SMD crystal oscillator has the characteristics of small size and easy to install. It is mainly used in electronic products with relatively small space. Against the background of the accelerated product upgrade cycle of mobile terminals and communication equipment, it has shown a steady growth trend and has become the mainstream form in the market.
The industrial chain of quartz crystal oscillator
Market structure
Japanese quartz crystal component manufacturers have a high basic technical level and production automation level, have strong scale and technical advantages, and are an international quartz crystal resonator manufacturing power. Before 2011, quartz crystal resonators produced by Japanese manufacturers accounted for nearly 60% of the world market, showing a competitive landscape that was dominant in one country. Since 2013, Japanese manufacturers have been affected by factors such as rising raw material and human resources costs and exchange rate fluctuations. At the same time, they have been affected by the expansion of production capacity of manufacturers and alternative products from other regions around the world such as Taiwan and mainland China. The market share has declined significantly. has slightly decreased in 2017, and the proportion of global market share has dropped from 59.9% in 2010 to 48.80% in 2017, a decrease of 11.10 percentage points.
Revenue status of major global and Chinese manufacturers (million US dollars)
Figure 14: Revenue share of major global manufacturers
Similar to the MLCC industry, the supply side of quartz crystal oscillator is mainly led by Japanese companies (Epson, Japan Radio, Kyocera , etc.), and has the capacity leading ability in the overall production capacity, especially in the field of mid-to-high-end products. During the sluggish industry demand cycle from 2018 to 19, the industry's small and medium-sized production capacity gradually withdrew, and we judged that the industry's competitive structure has been further optimized. Taiwan crystal oscillator leader Crystal Technology has recovered positive year-on-year growth for two consecutive quarters since Q2 2019. During the same period, the gross profit margin in a single quarter increased month-on-month for two consecutive quarters. We judge that in the context of high-end (high-frequency/minizability/temperature compensation) products, Japan's main production capacity will adopt a stable production conversion strategy (traditional production capacity to high-end) to meet the strong demand for high-end products. The overall supply and demand and profitability of the industry will improve
compared with domestic manufacturers, Taiwan's leading Crystal Technology, Huilun Crystal , Taijing Technology
Taijing Technology
The core products of various models of tuning fork crystal resonators (including DIP, SMD) and SMD high-frequency crystal resonators.
Taijing Technology is a high-tech enterprise specializing in the design, production, sales of quartz crystal resonator products, as well as the research and development and manufacturing of related process equipment. It is one of the main manufacturers in my country's quartz crystal resonator industry.The company's main products are various models of quartz crystal resonators, covering DIP crystal resonators and SMD crystal resonators. The main products can be divided into TF series, M series and S series, TF series is DIP low-frequency (tuning fork) crystal resonators, M series is SMD high-frequency crystal resonators, and S series is DIP high-frequency crystal resonators.
Taijing Technology's total product production is showing an increasing trend year by year, with annual output of 2.78 billion units, an increase of 23.51% over the previous year. In 2018, the main business revenue was RMB 548 million, an increase of 7.67% over the previous year's RMB 509 million. The proportion of M series products (i.e. SMD high-frequency crystal resonators) in main business revenue further increased, accounting for 60.75% of the main business revenue, an increase of 7.44% over the previous year's share of main business revenue, and the proportion of main business revenue of TF series and S series stations was 26.39% and 2.33% respectively. In terms of production and sales, with the full implementation of convertible bond projects and the production capacity has been gradually released, the production and sales of the M series have both increased compared with the previous year, of which the production volume has increased by 37.93% over the previous year and the sales volume has increased by 36.08%. The production and sales of TF series maintained steady growth compared with the previous year, with production volume increasing by 15.46% over the previous year and sales volume increasing by 9.54%.
Wheelen crystal
's main products are piezoelectric quartz crystal components, currently including surface-mount (SMD) and dual-in-line (DIP) quartz crystal resonators, SPXO crystal oscillators, TCXO temperature compensation oscillators, and TSX thermistors.
From the perspective of industry scale, according to CSA data, the global market size of quartz components (resonators, oscillators, etc.) is about US$3 billion, and the overall market size is relatively stable.
In 2016, the sales of tuning fork crystal resonators and micro SMD high-frequency crystal resonators in my country were 8.51 billion and 10.06 billion respectively, with sales of 1.46 billion and 4.93 billion respectively.
The future market space
TWS, IoT, 5G, and downstream in vehicles are in high prosperity, and there is strong demand for miniaturization and high frequency products
quartz crystal resonators are widely used in the fields of electronic products such as industrial, civilian and military. The demand for quartz crystal resonators in some application terminals is listed in the following table:
Quartz crystal oscillator is the most core electronic component in 5G technology, and its function is to provide reference clock signals and receive transmission signals. Since 5G has very high requirements for using network equipment, the data to be processed by network equipment is large, and the equipment circuit needs to issue commands through the use of crystal oscillator and other components to obtain the pulse signal source to work, which means that 5G has high requirements for crystal oscillator stability and reliability. In order to meet the requirements of 5G, if smart products are to be equipped with high-end and fast 5G products, they must be equipped with high-precision small chip crystal oscillators. Due to downstream demand, crystal oscillators are developing towards high frequency and miniaturization.
5G has just started in 2019, and the sales of 5G devices account for less than 1% of the total sales; the 5G industry will accelerate its development in 2020, and the share of 5G devices is expected to be close to 10%. The 5G industry is in a stage of accelerated development. In the next 3-5 years, the industry penetration rate will increase rapidly. is expected to exceed 1 billion 5G mobile phone sales by 2025
With the advent of the 5G and the Internet of Things era, smart wearable devices are in a stage of rapid development. expects the wearable device market to continue to maintain double-digit growth in the future until 2022. According to Gartner data, it is estimated that by 2021, will sell 505 million wearable devices (including Bluetooth headsets), of which smart watch sales will be close to 81 million, accounting for 16% of the overall wearable device sales.
With the acceleration of 5G commercialization, the Internet of Vehicles will usher in a golden period of development, which will bring greater market space for automotive electronics. More and more electronic devices (e.g., sensors, communications (GPS, 4G/5G), cameras, detection systems, etc.) are being applied to cars to improve safety, comfort, entertainment and stability. The rapid development of automobile networking, intelligent identification systems and unmanned driving will greatly promote the rapid growth of the upstream component market.
Comparative analysis
original capacity is dominated by Japanese companies (Epson, Japanese radio wave, Kyocera, etc., accounting for about 50%-60% of the industry market share), but due to the huge explosion of wireless headphones, Apple has basically lost the production capacity of Japanese crystal resonators for ten years, and other manufacturers have to find the capacity support of Taiwanese or domestic companies
There are only two companies in China that are slightly authentic, are Huilun Crystal and Taijing Technology. In terms of technical content, high-end main search for Huilun Crystal, and low-end ones look for Taijing Technology. Huilun’s biggest expectation in the future is Huawei, which has built a factory and lithography machines are also on the way. The performance elasticity of these two companies this year is very high
Tai Crystal mainly produces mid- and low-end products, but has large volume and large production capacity, and its production capacity is three times that of Huilun Crystal. Huilun mainly has good technology and good management, so each has its own advantages. However, if the product price increases further, the production capacity will also help to improve performance quickly. Huilun's main expectation is Huawei
. This niche branch is quite certain. The optimistic institutions with small circles give a profit of Huilun's annual profit of 200 million and Taizhong 400 million. However, there is no specific research report, but it is just a small-scale circumstance in the institutional circle. we do not consider whether there is this profit. It doesn't matter if there is more or less. What we need to consider is the certainty of this industry and whether there is a chance of sustained growth in performance. More or less growth is actually just a matter of more or less profits, and it doesn't matter
