China's LED lighting auto parts market will break out in 2018

by:ALLTOP      2020-02-02
The growth momentum of the mainland new car market slowed down in 2017. However, with the ranking of sales in the mainland car market in recent years, it has laid a huge demand for replacement in the after-car maintenance market. LED industry is optimistic, after 2018, the after-vehicle maintenance market will enter a growing period of rapid explosion, including wave replacement demand for taillights, interior lights, situational lights, etc. In the future, the growth momentum of the mainland new car market will slow down 2017, however, with the sales in the mainland auto market in recent years, it has laid a huge demand for replacement in the after-car maintenance market. The LED industry is optimistic that the after-car maintenance market will enter a growing period of rapid explosion after 2018, including taillights, interior lights, situational lights, etc. , there will be wave replacement needs, and the future will be multiplied. Due to the increase in the consumption power of the mainland people, the new car market in the mainland began to take off in 2014. According to statistics, the sales volume of new cars in China increased from 23 million in 2014- 24 million vehicles increased to 25 million in 2015 and 28 million in 2016. Sales are expected to reach 29 million in 2017. The market share of Chinese automakers including Great Wall Motor, Changan Motor, Geely Motor, Jianghuai motor and Zhongtai motor has increased from 2013- From around 20 in 2014 to 2016-More than 40 in 2017. As consumers pay more attention to driving safety and the demand for better road lighting increases, the growth of the automobile lighting market has been further promoted. Advanced Automotive lighting systems can prevent glare and identify obstacles using infrared and ultraviolet lamps, and suppliers in the market are constantly introducing signal lamps that can adapt to changes in environmental conditions and respond to emergency braking. The new trend of automobile lighting market has brought new opportunities to enterprises, especially in the field of lighting equipment. Environmental lighting is one of them, which can be installed on vehicles to create different experiences and make users happy physically and mentally. The automotive lighting market can be technically divided into halogen lamps, LED lamps, and xenon lamps. According to OFweek Industry Research Center's '2017 LED Automotive Lighting Industry Market Research Report' (Hereinafter referred to as the report) , In 2016, the penetration rate of domestic LED lamps was about 10 ~ 15. The overall market size of LED lamps exceeds 5 billion yuan. According to the penetration rate of LED lamps in 2022 of 60, the compound growth rate of sales in the domestic automobile market in the next few years is estimated to be 5. By 2022, the domestic LED lamp market is expected to reach 76. 6 billion yuan. The growth rate of LED automotive lighting market is rising year by year, but the industrial ecology of the automobile supply chain is conservative and the product certification takes a long time. At present, the component supply of the original automobile factory is mostly monopolized by a few large international factories, although the Taiwan factory intends to break through the barriers, the proportion of supply is still limited, and the entry threshold for the after-vehicle maintenance market is relatively low, which is more conducive for new entrants to enter the supply chain, recently, mainland LED companies such as Guoxing and Hongli have actively rushed into the market and formed a strategic alliance with the mainland light factory. Taiwan-based LED factories such as Yiguang, Lunda, Adidas and Lianjia have also continued to be laid out, there will be opportunities to grab business opportunities. Although the post-car maintenance market in mainland China will show a multiple growth, various operators are rushing in, which will lead to the initial product being mixed, and price competition will lead to lower profits than expected, the myth that car LED orders bring higher gross profit margin is challenged. It is expected to enter a new round of industrial elimination, testing the cost control and technical capabilities of various companies.
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