LEDinside: 2018 Chinese Automotive Lighting Market Report - Passenger Car and Logistics Car Market Analysis
|出版日||ページ情報||英文 213 Pages
|中国の自動車照明市場調査：乗用車・物流車両市場分析 (2018年) LEDinside: 2018 Chinese Automotive Lighting Market Report - Passenger Car and Logistics Car Market Analysis|
|出版日: 2018年05月31日||ページ情報: 英文 213 Pages||
According to the latest report from LEDinside, a division of the market research firm TrendForce, 2018 Chinese Automotive Lighting Market Report- Passenger Car and Logistics Car Market Analysis, the quantity and market share of local car manufacturers in China have increased since 2017. The sales volume of domestic brands has grown annually as well. The product price levels from local car manufacturers have gradually approached to medium range. Although the license plate lottery measure reduced purchasing willingness, yet, as per capita income grew, car penetration will experience significant growth. Chinese conventional passenger car shipment volume in 2017 has reached 23.8 million units, and is expected to reach 25.5 million units in 2018.
The consumption of passenger vehicles in China has grown rapidly, and the penetration of LED in Chinese automotive market has also been significantly increased, which has led to the rapid development of the automotive lighting industry. The quantities of conventional passenger cars are huge, and its LED market value in 2022 is estimated to reach US$1.9 Billion, still the highest among major vehicle types.
In terms of exterior lighting, owing to the decrease of high power LED price, its market share has increased gradually. In 2022, the highest LED value will be generated by headlamp.
In light of interior lighting, automotive panel underwent rapid growth. The main reason was the new supply of Chinese panel manufacturers. In 2022, LED market value of interior panel will reach US$156 million.
Chinese new energy cars have developed quickly. Due to the maturity of battery and charging technology, besides the policies of joint venture automobile manufacturers' introduction of new energy cars, the developing speed of new energy car has been affected. In terms of new energy passenger car, because each brand's car type is more concentrative and the promotion strength is higher, the chance of LED introduction is the highest. Its LED market value in 2022 is estimated to reach US$95 Million, with a CAGR (2017-2022) up to 54%.
In exterior lighting, owing to the advanced technology of Chinese high/low beam, high/low beam prices in 2018 decrease dramatically. In addition, the quality and prices from China's own brand automotive enterprises have earned recognition on the market, also making the LED penetration rate grow quickly, reaching 14% in 2018.
In terms of interior lighting, product authentication of low-power LEDs in China has been conducted through after market since 2016. Since 2018, OE market has adopted local LEDs in low-power applications, making the growth in various applications become stable.
Owing to the popularity of online transaction, the increase for the scale of e-commerce and the maturity of logistics industry, the demand for box truck has grown quickly. Adopting LEDs can enlarge brightness and life span of automotive lamps, and its overall LED penetration rate is higher than that of passenger car. The LED market value in box truck is estimated to reach USD 72 million in 2022.
Chinese automotive lamp manufacturers can be majorly divided into joint-venture and local companies. Before, the largest joint-venture automotive lamp manufacturer was Shanghai Koito, which was the joint venture between Japan Koito and Huayu Automotive Systems. The company was wholly-owned by Huayu in September, 2017 and became the largest automotive lighting company in China with annual revenue of more than RMB 10 billion. It is estimated that the acquisition will be finished in the first half of 2018. In addition, the main joint venture and foreign auto lamp manufacturers in Chinese market also contain Hella, Koito, Valeo, Magneti Marelli, Stanley and Varroc TYC. The local OE lamp manufacturers include Xingyu, Jiangsu Tong Ming, Jiangsu Wenguang, Zhejiang Jiali, Zhejiang Tianchong, Ludebei, Liaowang and Anrui.
Chinese auto lamp module brands with high visibility and universality are Sunlight and Laster. The two module manufacturers cover a wide range of customers including joint ventures and local car makers. Most foreign-funded and joint-venture auto lamp manufacturers cover module business. Besides, because the entry barrier of module production is not high, many Chinese lamp manufacturers also plan to invest the module production line. It is expected that the proportion of Chinese auto lamp manufacturers with self-production module will substantially increase in the future.
It is concluded from revenue development that international manufacturers like OSRAM, Lumileds and Nichia still focus on OE market, while Taiwan-based and Chinese mainland manufacturers gradually improve revenue through aftermarket and performance market, while entering OE market through tail lights with good product sales.