Analysis of the Market Status and Development Trends of China's Automotive Lighting Industry in 2022

Auto sales end three years of negative growth; new energy vehicle sales continue to rise

Automotive lighting mainly refers to interior and exterior vehicle lighting, including high/low beam headlights, turn signals, and LED lights installed inside the vehicle. The development of this industry is closely linked to the growth of the automotive sector.

From 2012 to 2020, China's car sales first increased and then declined. In 2020, China's car sales reached 25.311 million units, a Year-on-year (YoY) decrease of 1.78%. From the perspective of industry development trends, with the steady recovery of the national economy, consumer demand is accelerating its recovery. In 2021, China's total annual car sales reached 26.275 million units, a Year-on-year (YoY) increase of 3.8%, ending three consecutive years of negative growth in sales since 2018.

根据中国汽车工业协会统计数据显示，2021年我国新能源汽车销量爆发式增长，达到352.1万辆，同比增长157.6%。2012-2021年，我国新能源汽车销量从2012年的1.28万辆到2021年的352.1万辆，实现了跨越式发展，可以看出我国消费者对新能源汽车的消费需求逐年攀升。

Increased automotive sales drive further expansion of China's vehicle lighting luminaire capacity

Currently, no authoritative organization has conducted statistics on the scale of automotive lighting in China. However, according to TrendForce data, the penetration rate of LED headlamps globally exceeded 60% in 2021, reaching as high as 90% in new energy vehicles. It is expected that this figure will not change significantly in China. Based on estimates of China's total vehicle and new energy vehicle sales, the market capacity for automotive lighting luminaires in China in 2021 was approximately 16.82 million units.

Chinese LED lighting enterprises actively collaborate with automotive companies to layout the vehicle lighting market

In recent years, China's automotive lighting industry has gradually expanded alongside the development of the automotive sector. Chinese LED lighting enterprises have successively partnered with automakers to provide automotive lighting luminaires and automotive lighting solutions. Specific cooperation dynamics are as follows:

China's automotive lighting luminaires are expected to exceed 20 million units by 2027

Considering the development trends of China's automotive and automotive lighting industries, future sales of new energy vehicles in China are expected to enter a new growth phase, leading to rapid growth in automotive luminaire demand. The market capacity for automotive luminaires in China is projected to reach approximately 22.66 million units by 2027.