TrendForce：2026年第二季度前五大NAND闪存品牌合计营收环比增长77%，美光升至第三关键事件
TrendForce最新研究显示，2026年第二季度AI服务器需求稳定，企业级SSD需求强劲，导致NAND闪存供应短缺。前五大NAND闪存品牌合计营收环比增长77%，美光排名升至第三。
原文深度解读
TrendForce最新研究显示，2026年第二季度AI服务器需求稳定，企业级SSD需求强劲，导致NAND闪存供应短缺，前五大NAND闪存品牌合计营收环比增长77%至688.7亿美元。美光营收环比增长99.2%，排名升至第三。文章涉及三星、SK海力士集团、美光、铠侠、闪迪等主要供应商，并展望第三季度需求与供应趋势。
- 2026年第二季度，AI服务器需求稳定，尤其是企业级SSD需求强劲，导致NAND闪存市场供应短缺，供应商通过合同谈判显著提高ASP。
- 前五大上市NAND闪存品牌合计营收环比增长77%，达到688.7亿美元。
- 三星营收环比增长70.7%，接近230.6亿美元，市场份额微降至29.3%。
- SK海力士集团（含Solidigm）营收环比增长89.5%，超过142.7亿美元，运营利润率再创新高。
- 美光营收环比增长99.2%，达到118.5亿美元，增长率在前五大品牌中最高，排名升至第三。
- 铠侠营收环比增长79.9%，约107.2亿美元，市场份额微降至13.6%；闪迪营收环比增长50.7%，接近89.7亿美元，增速低于同行。
供应链影响
- AI服务器和企业级SSD需求的持续强劲可能继续支撑NAND闪存ASP，进而影响供应商营收，但具体走势取决于第三季度智能手机和PC需求疲软的程度。
- 供应商优先投资DRAM和HBM可能限制NAND闪存新增产能，供应紧张状况可能延续，但取决于各厂商资本支出调整。
- 美光营收高增长可能改变市场排名格局，但市场份额变化取决于其他厂商的出货增长和定价策略。
- 智能手机和PC因BOM成本上升导致设备价格上涨，可能抑制消费需求，进而影响NAND闪存订单，但影响程度取决于终端市场接受度。
- SK海力士的321层工艺和Solidigm的QLC企业SSD订单增长可能推动其市场份额提升，但竞争态势取决于其他厂商的技术和产能进展。
系统解读，仅作为判断线索，不构成备货、出货、涨价或投资建议。
TrendForce最新的NAND闪存行业研究显示，2026年第二季度AI服务器需求保持稳定，尤其是企业级SSD，导致NAND闪存市场供应短缺。这使得供应商能够通过合同谈判显著提高平均销售价格（ASP）。因此，前五大上市NAND闪存品牌的合计营收环比增长77%，达到688.7亿美元。
展望第三季度，智能手机和PC的需求预计将保持疲软，因为更高的BOM成本推高了设备价格。然而，AI服务器对企业级SSD的需求依然强劲。与此同时，供应商普遍优先将资本支出用于DRAM和HBM，限制了新的NAND闪存产能。因此，预计ASP将继续支撑第三季度整个行业的营收增长。
在前五大NAND闪存品牌中，市场领导者三星受益于AI服务器需求推动的NAND闪存ASP上涨，同时企业级SSD出货占比提升显著改善了盈利能力。营收环比增长70.7%，接近230.6亿美元。然而，由于竞争对手营收增长更快，三星的市场份额在第二季度微降至29.3%。
SK海力士集团（包括SK海力士和Solidigm）排名第二。其321层工艺持续爬坡、Solidigm高容量QLC企业级SSD订单强劲以及ASP上涨，推动NAND闪存营收环比增长89.5%，超过142.7亿美元。其运营利润率也再创历史新高。
美光同样受益于ASP的大幅上涨，NAND闪存营收达到118.5亿美元，环比增长99.2%，在前五大品牌中增长率最高。这使美光升至第三位。
铠侠排名第四。在NAND闪存价格持续高位和BiCS8产量持续增长的支撑下，营收和盈利能力均有所提升。营收环比增长79.9%，约107.2亿美元，市场份额微降至13.6%。
闪迪在第二季度也受益于AI驱动的ASP上涨。然而，相对保守的位元出货增长使其营收环比仅增长50.7%，达到近89.7亿美元，落后于同行增速。
TrendForce’s latest NAND Flash industry research reveals that AI server demand remained steady in the second quarter of 2026—particularly for enterprise SSDs—resulting in a supply shortage across the NAND Flash market. This allowed suppliers to raise ASPs significantly through contract negotiations. As a result, the combined revenue of the top five publicly listed NAND Flash brands rose 77% QoQ to US$68.87 billion.
Looking ahead to the third quarter, demand from smartphones and PCs is expected to remain weak as higher BOM costs push up device prices. However, demand from AI servers for enterprise SSDs remains strong. Meanwhile, suppliers are generally prioritizing capital expenditure on DRAM and HBM, limiting new NAND Flash capacity. ASPs are therefore expected to continue supporting overall industry revenue growth in the third quarter.
Among the top five NAND Flash brands, market leader Samsung benefited from higher NAND Flash ASPs driven by AI server demand, while a growing share of enterprise SSD shipments significantly improved profitability. Revenue rose 70.7% QoQ to nearly $23.06 billion. However, as competitors posted faster revenue growth, Samsung’s market share edged down to 29.3% in the second quarter.
SK hynix Group, including SK hynix and Solidigm, ranked second. Continued ramp-up of its 321-layer process, strong orders for Solidigm’s high-capacity QLC enterprise SSDs, and rising ASPs lifted NAND Flash revenue 89.5% QoQ to more than $14.27 billion. Its operating margin also reached another record high.
Micron likewise benefited from a significant increase in ASPs, with NAND Flash revenue reaching $11.85 billion, up 99.2% QoQ — the highest growth rate among the top five brands. This lifted Micron to third place.
Kioxia ranked fourth. Revenue and profitability increased, supported by persistently high NAND Flash prices and continued growth in BiCS8 output. Revenue rose 79.9% QoQ to approximately $10.72 billion, while market share edged down to 13.6%.
SanDisk also benefited from AI-driven ASP increases in the second quarter. However, relatively conservative bit shipment growth limited its revenue increase to 50.7% QoQ, reaching nearly $8.97 billion and trailing the growth of its peers.