Veeco Instruments Inc aims to supply at least half the global market for LED tools in 2011, Reuters reports.
The firm expects the Chinese subsidies that underpin demand to stay intact through the first half of 2011, chief executive John Peeler said on Friday (February 25th).
Veeco increased its share of the global market to 45 per cent last year from 30 percent in 2009.
Mr Peeler observed that growth would continue, albeit at a slower pace.
"We'd like to get over 50 per cent and stay over 50 per cent," Peeler said.
He added that there "is a reasonable chance we can get to 60 per cent".
Meanwhile, new research has suggested that the global market for LED luminaires is set to grow from $3.8 billion in 2010 to $8.3 billion by 2014.
Strategies Unlimited's LED Luminaires, Market Analysis & Forecast observed that improvements in performance and price of commercially available high brightness LED packages and heightened awareness about energy efficiency helped create conditions for adoption of white light application of LED technology.