The development history of 1. car lights

Car lights are the "eyes" of cars and play an important role in car design and safety performance. From open flame headlights to halogen headlights, from xenon headlightsLEDHeadlights, and then to laser headlights, the light source technology of car lights has undergone many revolutionary changes, continuously improving the lighting effect, energy-saving performance and aesthetics. At the same time, with the development of automobile intelligence, automobile lights gradually have intelligent functions such as adaptive adjustment, partition illumination, holographic projection, etc., realizing the functional expansion of human-vehicle interaction and information transmission.

Market Size of 2. Automotive Lamps

According to data from the Champ Consulting Group,2022In 2010, the global automotive market was affected by the epidemic, semiconductor shortages and supply chain problems, and new car sales appeared.3The biggest drop in years, just7900Ten thousand,2018Decreased years.16%. In contrast, the global automotive lamp market has maintained a steady growth momentum, reaching325Billions of dollars, more2018Year increased.2.5%. This is mainly dueLEDThe popularity of lights and smart lights, as well as the rapid development of new energy vehicles.2023Throughout the year, as the epidemic eases, the global auto market is expected to return to growth, with new car sales expected to reach8410Ten thousand vehicles, year-on-year growth6.4%. The global automotive lamp market will also continue to expand, and the scale is expected to reach340Billion US dollars, year-on-year growth4.6%. The future, laser headlights,DLPHeadlights and other cutting-edge technologies will become the development trend of car lights, providing more efficient, safer and smarter lighting solutions for cars.

China is the world's largest automobile market and the largest automobile producer, as well as the world's largest automobile lamp market. According to data from the Champ Consulting Group,2022In, China's auto sales were2702.1Ten thousand vehicles, year-on-year growth3.4%; In the same year, the size of China's automotive lamp market was984.83Billion yuan, year-on-year growth44.3%。 2023Throughout the year, China's auto sales are expected to continue to show steady and positive growth.3%In the same year, the size of China's automotive lamp market is expected to break through.1000Billion yuan, year-on-year growth1.5%Left and right.

Technical trends in 3. automotive lights

The technical trend of future car lights mainly revolves around the two main lines of light source and function.

In terms of light sources,LEDHeadlights will become the mainstream lighting solution, and its advantages are small size, long life, energy saving and environmental protection, and strong plasticity. According to data from the Champ Consulting Group,2022Global YearLEDHeadlamp penetration is28.5%, is expected2023The end of the year will reach35%; ChinaLEDHeadlamp penetration is21.5%, is expected2023The end of the year will reach30%. Laser headlights will become the nextLEDThe next-generation lighting technology behind the headlights has the advantages of high brightness, long irradiation distance, and low energy consumption. At present, laser headlights are mainly used in high-end models, such as BMWi8, AudiR8It is expected that the future will gradually explore the high-end models.

In terms of function, the adaptive headlight system (AFSorAFLS) and adaptive high beam system (ADB) Will gradually become standard. Its advantage is that it can automatically adjust the illumination angle and brightness of the headlights according to the driving state of the car and the surrounding environment, and improve driving safety and comfort. According to data from the Champ Consulting Group,2022Global YearAFSThe permeability is30%, is expected2023The end of the year will reach40%; GlobalADBThe permeability is10%, is expected2023The end of the year will reach15%。DLPHeadlights will become one of the mainstream solutions for smart headlights in the future. Its advantage is that it can control the zonal illumination of the headlights through the switches of millions of micromirrors, and realize multiple functions such as high-definition projection, road condition prompts, and navigation instructions. Promote the development of human-vehicle interaction scenes. CurrentlyDLPHeadlights have been mass produced, such as GAC ChuanqiGA8, Chang'anCS75 PLUSSuch as models have been equippedDLPHeadlights.

The competitive landscape of 4. car lights

The global automotive lamp market is dominated by foreign suppliers, showing a clear trend of regionalization. Japanese suppliers Koito Manufacturing Institute and Stanley Electric account for nearly 40% of the global car lamp market, mainly serving Japanese car companies. European suppliers Valeo, Maneli Marelli and Haila account for nearly 30% of the global car lamp market, mainly serving European car companies. U.S. suppliers Visteon and Magna account for nearly 20% of the global car lamp market, mainly serving U.S. car companies.

China's automotive lamp market is dominated by domestic suppliers, showing a competitive pattern of two super-strong. Huayu Vision and Staryu are the two largest suppliers of autonomous automotive lights in China, each occupying the domestic automotive lights market.20%and15%The company's products cover various market segments from low-end to high-end, and foreign suppliers such as Valeo, Hella and Koito have also set up joint ventures or wholly-owned enterprises in China, mainly serving joint ventures or imported brands.

Opportunities and Challenges for the Development of 5. Automotive Lamps

In the future, the automotive lamp industry is facing three major opportunities and two major challenges.

Opportunity 1: The rapid development of new energy vehicles. New energy vehicles have higher requirements for energy conservation and environmental protection, and are more inclined to chooseLEDOr laser and other low-energy light source solutions; at the same time, new energy vehicles for intelligent and personalized demand is stronger, more inclined to choose.AFS、ADBorDLPand other intelligent functional solutions. According to data from the Champ Consulting Group,2022In 2010, the global new energy vehicle market showed exponential growth, with sales breaking through1000Ten thousand vehicles, up year on year35%. Among them, China once again ranked first, accounting for about the global sales of electric vehicles.60%。2023For the full year, global sales of new energy vehicles are expected to reach nearly140010,000 vehicles, the penetration rate can reach nearly20%。

Opportunity 2: The continuous evolution of intelligent network vehicles. Intelligent networked cars will enable cars to achieve a higher level of information interaction and collaboration with people, cars, roads, and clouds. As the "eyes" and "mouth" of the car, car lights will assume more communication and expression functions. For example, throughDLPHeadlights can achieve friendly prompts, warnings or greetings with pedestrians or other vehicles; navigation, entertainment or advertising can be achieved through holographic projection.

Opportunity 3: The rise of personalized customization of automobiles. With the improvement of consumers' aesthetic and personalized needs for cars, car lights have also become an important element to show the personality and style of cars. For example, throughLEDHeadlights can realize the transformation of a variety of colors and shapes to create a unique light and shadow effect; through laser headlights, personalized patterns and text projection can be realized, showing personality and taste.

Challenge one: the lag of technological innovation and standard setting. As a highly technology-driven industry, automotive lights need to be continuously innovated and upgraded to meet the needs of the market and consumers. However, at present, there is still a lack of unified and complete technical standards and regulations in the field of automotive lights, resulting in some advanced technical solutions that cannot be widely used or have potential safety hazards. For example, although laser headlights have the advantages of high brightness and long distance, they also have the risk of causing damage to the eyes or causing interference to other drivers.

Challenge 2: Cost pressures and shrinking profit margins. As a highly competitive industry, automotive lights are facing multiple cost pressures from upstream raw materials, midstream customers and downstream consumers. For example,LEDAlthough headlights have the advantages of energy saving, environmental protection and strong plasticity, their cost is also much higher than traditional halogen headlights or xenon headlights;DLPAlthough the headlight has the advantages of intelligence and function expansion, its cost is much higher than that of ordinaryLEDHeadlights or laser headlights. Therefore, automotive lamp suppliers need to continuously reduce costs and improve efficiency while ensuring product quality and performance to maintain a reasonable profit margin.

Champ Consulting believes

Shangpu Consulting believes that car lights are the golden track in auto parts. With the continuous upgrading of light source technology and intelligence, it is expected to maintain stable growth in the future. However, the automotive lighting industry is also facing challenges such as lagging technological innovation and standard setting, cost pressure and shrinking profit margins. Therefore, automotive lamp suppliers need to strengthen technology research and development and innovation capabilities, actively participate in standard formulation and promotion, optimize cost structure and improve operational efficiency, in order to adapt to market changes and seize development opportunities.