Development Status, Competition Pattern and Trend Forecast of China Car Lamp Industry in 2024

Car lamp is regarded as the eyes of a car. It is a key part of a car that integrates the functions of lighting, information exchange and appearance beautification, and has an important impact on the practicality, safety and appearance of a car. The innovation of light source technology is one of the main driving forces to promote the development of automobile lamp industry. From the perspective of light source technology, automobile lamp has experienced the development of fuel lamp, incandescent lamp, halogen lamp and xenon lamp. At present, LED lamps are widely used in China's automobile lamps market, and laser headlights are expensive. At this stage, they are mainly used in the high beam of individual luxury models.

The upstream raw materials of automobile lamps include LED modules, plastic materials, structural parts, light bulbs, wire harnesses, etc. At present, the related raw material markets are generally well supplied and fully competitive, and their market prices fluctuate due to macroeconomic and industrial policies. The downstream is usually a vehicle manufacturing enterprise, which is the core component of the automobile industry chain and is in a leading position in the process of cooperation with automobile parts manufacturing enterprises.

 Compared with fuel vehicles, new energy vehicle products have faster iteration, stronger sense of science and technology and higher intelligence. The rapid promotion and popularization of new energy vehicles have greatly promoted the upgrading of car lamps and the penetration of high value-added car lamps. With the continuous penetration of high value-added car lamps, the overall market size of China's car lamps industry has grown by a huge margin. In 2023, the market size was about 129.8 billion yuan, a year-on-year increase of 31.8%.