Car-use LED Equipment Market Continues to Grow: Research

LEDinside Research Manager Duff Lu (呂理舜) said on Dec. 22 that the total revenue for car-use LED may reach US$2.5 billion by 2018.

“The worldwide automotive-use LED market is projected to reach US$2.5 billion by 2018, with a compounded growth rate of 9% from the period between 2014 and 2018,” Lu said. “In particular the automotive LED market value in before market is projected to reach US$1.9 billion and the automotive LED market value in after market is also forecasted to reach US$620 million.”

Quoting the latest research, Lu said that LED automotive lighting has a relatively higher gross margin, compared with other traditional LED applications, that also attracted many Taiwanese LED makers to start planning to enter the field of manufacturing car-use LED equipment.

Also, with the growing demand for GPS, dashboard and other panels to be used on vehicles, LEDinside forecasted that the LED market for car-use equipment will also grow from US$71 million in 2014 to US$130 million by 2018.

“In 2014, worldwide new vehicles with standard equipment included car-use panels, have already reached 9%, and is expected to hit 14% by 2018,” Lu said.