Projector Headlamp Market in China 2015-2022 Projector Headlamp Market in China 2017-2022 | Page 4

5.4. C HINA .................................................................................................................................................................................. 12
5.4.1. About Chinese consumers ................................................................................................................................................... 13
5.4.2. Automotive Industry in China............................................................................................................................................. 14
5.4.3. Car ownership in China ....................................................................................................................................................... 15
5.4.4. Major trends in global automotive lighting industry ................................................................................................... 16
5.4.5. About Chinese lighting industry ......................................................................................................................................... 17
5.4.6. Automotive lighting trends in China ................................................................................................................................. 17
6. MARKET DYNAMICS ..................................................................................................................... 20
6.1. M ARKET D RIVERS ............................................................................................................................................................... 20
6.1.1. Growth of luxury car segment in China ......................................................................................................................... 20
6.1.2. Growing demand for value for money Chinese SUVs ................................................................................................ 21
6.1.3. Chinese OEMs` strategy to go premium (WEY,LYNk & Co, Faraday Future) ................................................. 23
6.2. M ARKET C HALLENGES ....................................................................................................................................................... 24
6.2.1. Strong demand for budget cars will act as a driver for vehicles with reflector headlamp setup ................ 24
6.2.2. Declining refresh time of vehicles leading to increased cost for lighting suppliers ........................................... 25
6.2.3. Growth in used car market poses a strong threat to new car sales in China ................................................... 26
6.3. M ARKET T RENDS ................................................................................................................................................................ 27
6.3.1. LED projector headlamps replacing Xenon headlamps in luxury segment ....................................................... 27
6.3.2. Growing research on LED based intelligent lighting system to enhance advanced driver assistance system 28
6.3.3. Adaptive Bi-Xenon (HID) and adaptive LED projector headlights being increasingly offered in the Chinese market
......................................................................................................................................................................................... 29
7. MARKET SIZING AND FORECAST, BY TECHNOLOGY 2015-2022 .......................................
32
7.1. X ENON (HID)-V OLUME ................................................................................................................................................... 32
7.2. X ENON (HID)-V ALUE ....................................................................................................................................................... 33
7.3. H ALOGEN - V OLUME .......................................................................................................................................................... 34
7.4. H ALOGEN -V ALUE ............................................................................................................................................................... 35
7.5. LED-V OLUME ..................................................................................................................................................................... 36
7.6. LED- V ALUE ........................................................................................................................................................................ 37