The growth momentum of the mainland new car market slowed down in 2017, however, with the mainland car market sales in recent years ranked first in the world, has laid a huge replacement demand for the after-vehicle maintenance market, led industry, after 2018 after the after-vehicle maintenance market will enter the rapid outbreak of growth, including tail lights, in-vehicle lights, situational lights, etc will appear the first wave of replacement demand, the future will also present a multiplier growth.
China's new-car market has taken off since 2014, boosted by rising consumer spending, with sales rising from 23m - 24m in 2014 to 25m in 2015, 28m in 2016 and projected to reach 29m in 2017, according to statistics. Chinese carmakers including great wall, changan, Geely, jianghuai and zhongtai increased their market share from around 20 per cent in 2013 - 2014 to more than 40 per cent in 2016 - 2017.
China led lighting auto parts market is about to explode in 2018
As consumers pay more attention to driving safety and demand for better road lighting, the growth of automobile lighting market is further promoted. Technologically advanced automotive lighting systems can prevent glare, use infrared and ultraviolet lights to identify obstacles, and market vendors are constantly introducing signal lights that can adapt to changing environmental conditions and respond to emergency braking.
The new trend of automobile lighting market brings new opportunities for enterprises, especially in the field of lighting equipment. Environmental lighting is one of them, can be installed on the vehicle, create different experience, let the user physical and mental pleasure.
The global automotive lighting market can be technically divided into halogen lamps, led lamps, and xenon lamps.
According to the 2017 led automobile lighting industry market research report ( hereinafter referred to as the report ) of ofweek industry research center, the penetration rate of domestic led lamps in 2016 is about 10 % ~ 15 %, the overall market size of led lamps exceeds 5 billion yuan, according to the 2022 led lamp penetration rate of 60 %, the domestic automobile market in the next few years sales composite growth rate is estimated to be 5 %, by 2022, the domestic led lamp market scale is expected to reach 766 billion yuan.
Led vehicle lighting market growth rate has increased year by year, but the automobile supply chain industry ecological conservative, product certification time is longer, at present the original components of the car supply mostly by a few international big factory monopoly, Taiwan factory although intends to break through the fence, but the proportion of supply is still limited, and the car after the maintenance market entry threshold is low, is conducive to new entrants into the supply chain, recently mainland led industry such as star, Hongli has actively into, and form a strategic alliance with mainland lamp factory, and Taiwan led factory such as yiguang, ronda, aidiesen, lianjia also continue to layout, will have the opportunity to seize business opportunities.
Although the mainland car after repair market will present multiple growth, but each industry have to rush into, will lead to the initial product may fall into good and bad mixed, and price competition will lead to profit is not as expected, make the car led orders bring high gross profit margin myth is challenged, is expected to enter a new round of industry knockout, test the cost control and technical ability of each industry.
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