The car's lighting system is often referred to as its "eyes," playing a crucial role in both functionality and aesthetics. These systems are essential for visibility, communication, and even enhancing the vehicle’s design. Automotive lighting serves multiple purposes, including illumination, signaling, and decorative functions, all of which significantly influence the car’s practicality, safety, and visual appeal.
Modern automotive lighting can be broadly categorized into two types: lighting fixtures and signal lamps. Depending on where they are installed, these lights are further divided into external and internal categories. External lighting includes headlights, turn signals, and rear lights, while internal lighting covers dashboard indicators, reading lights, and more.
In terms of light sources, the industry has evolved from traditional halogen bulbs to more advanced technologies such as xenon lamps, LED lights, and even laser headlights. While halogen lamps still have a significant market share, their usage is gradually declining. LEDs, on the other hand, are gaining popularity due to their long lifespan, energy efficiency, compact size, and relatively lower costs. As a result, LEDs are expected to become the dominant choice in the automotive lighting sector in the coming years.
The global automotive lighting market is projected to grow steadily over the next few years, with the LED segment showing particularly strong growth. For instance, the adoption rate of LED lighting in China increased from around 15% in 2016 to an estimated 60% by 2020. With the domestic car market growing at a compound annual rate of about 5%, the LED automotive lighting market is expected to reach 56.6 billion yuan by 2020, with a compound growth rate of 13%. The LED headlight market is also anticipated to expand rapidly, increasing from 5 billion yuan in 2016 to approximately 34 billion yuan by 2020, representing a 60% CAGR.
Despite this promising outlook, the Chinese LED automotive lighting market is largely dominated by foreign companies, which often charge premium prices. This high cost can be a challenge for domestic automakers, especially those focusing on independent brands and new energy vehicles.
According to Li Guoping, Chairman of Hongli Zhihui Group, the rise of electric vehicles and domestic brands presents a significant opportunity for LED lighting. However, the current high costs of LED components may affect the competitiveness of local manufacturers. Therefore, the development of domestic LED technology is critical to reducing costs and improving market access.
Hongli Zhihui has been actively involved in the LED automotive lighting aftermarket for over a decade, covering areas such as LED packaging and commercial vehicle lighting. The company has made significant progress in three key areas: car-level LED packaging, LED lighting modules, and complete LED lighting solutions.
A notable partnership between Hongli Zhihui and Jingyuan Optoelectronics has strengthened its position in the market. Through this collaboration, Hongli Zhihui gains access to high-quality LED chips and technical support, enabling it to enhance its product offerings and reduce production costs.
Additionally, Hongli Zhihui’s subsidiary, Foda Signal, has established itself as a leader in the LED commercial vehicle lighting sector. The company specializes in LED signal lights, work lights, and other lighting modules, serving major international brands like Hella and Bosch.
Another key acquisition was Yishan Auto Lamp, a well-established manufacturer with two decades of experience in automotive lighting. This move allowed Hongli Zhihui to enter the passenger car lighting market more effectively, expanding its product portfolio and customer base.
With a strong focus on innovation, sustainability, and cost-efficiency, Hongli Zhihui is well-positioned to capitalize on the growing demand for LED lighting in the automotive industry. The company aims to achieve significant sales growth in the coming years, with targets of 3 billion yuan in LED automotive module sales and 2 billion yuan from Yishan Auto Lamp.
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