Automotive LED Market Value Forecast to Reach US$3.51 Billion in 2021
Influenced by growth momentum from increasing automotive market shipments and the rising penetration rate of LED lighting, global automotive LED market value is estimated to be valued at US$3.51 billion in 2021, a 31.8% YoY growth rate. This demonstrates that LED headlights and automotive display LED products remain the main driving force for growth in the automotive LED market.
Although the automotive semiconductor shortage has led to manufacturing bottlenecks among some car manufacturers, since car manufacturers have asked LED producers to continue production, the purchase order status of major automotive LED manufacturers will not be affected before the end of 2021. Among the 2021 revenue rankings of automotive LED manufacturers, the top three companies remain ams-OSRAM, Nichia, and Lumileds. These three account for a combined market share of as much as 71.7%.
In terms of automotive lighting, ams-OSRAM has leveraged stable product quality, excellent lighting efficiency, and cost performance to make it the supplier of choice for the world’s high-end cars and new energy vehicles, including high-flying Tesla among its customers. This year, ams-OSRAM’s automotive LED revenue grew rapidly and has an opportunity to reach US$1.304 billion by year’s end for an annual growth rate of approximately 40.9%. Samsung LED’s PixCell LED has also been successfully integrated into the Tesla Model 3 and Model Y, boosting its automotive LED revenue growth to as much as US$121 million with market share expected to increase to 3.4%.
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