2016-2022 car light market analysis LED drive market value growth

According to foreign media reports, according to market research firm Yole Développement, the total market capitalization of the lamp market in 2016 is 25.7 billion US dollars, and is expected to increase to 35.9 billion US dollars by 2022. The compound annual growth rate (CAGR) of 2016-2022 is 5.7. %.

Yole analysts expect the growth to be driven by LED cost erosion, LED module standardization, performance-optimized drive cost reduction, and automotive LED application acceleration.

Since the introduction of the first all-LED headlights in 2007, LED technology has gradually integrated into the design of headlights. LED technology makes vehicle lighting a special product that has achieved many innovative features, such as the glare free adaptive high beam introduced in 2013.

The use of LED technology is limited to high-end vehicles. The product is competing with traditional light source devices such as halogen lamps and high-density discharge lamps (HID/Xenon). LED performance is improved, energy consumption is low, and design flexibility is becoming competitive. The cost reduction helps LED technology expand into all types of cars.

Vehicle lighting is driven by external vehicle lighting, especially headlights, which generate revenues that account for 17% of total market revenue. Interior lighting accounts for nearly 10% of total revenue, but its growth is expected to be closely linked to the development of autonomous vehicles. Equipment such as fog lights, central high-position brake lights (CHMSL) or small lights accounted for 7% of 2016 revenue.