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Global auto led lights market value keeps rising in the coming recent years

Although vehicle market in 2018-2019 is reducing somewhat, LED penetration rate has kept increasing. Also, new energy vehicles have higher energy-saving requirement, so the demand for automotive LED lights is higher than traditional vehicles. For this reason, auto LED market value and volume will be growing in the next few years. It is estimated that global automotive LED market value is expected to be up to US$ 4.21 billion in 2023.

Regarding automotive LED value and penetration rate in major regions,  in terms of relative laws and regulations and market demand, currently European market has the highest LED market value and penetration rate among major regions worldwide. Relatively, the US market performs more conservative. Japanese market shows the second highest penetration rate but its market value is lower than that of China and the US because of relatively less population and lower automobile sales. Besides, Chinese market is in rapid growth in market value and penetration rate of some specific products.
Vehicle LED market scale will be bigger

Facing the impact of US-China trade war, automotive LED manufacturers such as OSRAM Opto Semiconductors and Lumileds kept stable or showed small decline in 2018. However, due to the growth of Japanese vehicle market in 2018, revenues of Japanese players such as Nichia and Stanley went up. Meanwhile, Besides the international top players, many second-tier manufacturers have actively developed OE market and cooperated with automakers to develop LED headlamp. As product technology improves and automotive LED light relies more on the reliability and design features of LED light source, the monopoly in automotive LED market may be  broken.
The global ranking of revenue of top 5 players
Around the world, automotive LED lighting industry concentration rate is quite high, with top five players over 70% market share. In recent years, top global players have been on the stage of oversea expansion and made reorganization one by one, with a marked focus trend. Besides, as LED penetration rate increases in recent years, the profit ratio of automotive LED lighting companies keeps rising in some way despite the dismal vehicle market situation.
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