China's LED lighting auto parts market demand will take off in 2018
2021-11-22 14:06:45
As the Chinese auto market continues to grow in 2014-2017, the alternative demand for LED lighting in the auto parts market is expected to take off in 2018. As the Chinese auto market continues to grow in 2014-2017, the alternative demand for LED lighting in the auto parts market is expected to take off in 2018. LED car lighting for the after-sales market China's new car sales increased from 23 million to 24 million in 2014 to 25 million in 2015, and increased to 28 million in 2016. It is expected to reach 29 million in 2017. The market share of Chinese automakers including Great Wall Motor, Changan Auto, Geely Auto, Jianghuai and Zotye has increased from around 20% in 2013-2014 to over 40% in 2016-2017. The repair of vehicles sold in the past few years will push up the market demand for LED automotive lighting, mainly involving taillights, direction indicators and interior lights. However, sources pointed out that the huge market potential of China's LED automotive lighting market will attract many manufacturers, which may lead to price wars.
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