Market analysis of China's in-vehicle optical instrument industry in the first half of 2021 (figure)

1. Industry background

2017 is the first year of automatic assisted driving. In 2021, the penetration rate of H1L2 and above automatic assisted driving will increase rapidly, and the penetration rate will increase from 18% in 2020 It has risen to 25%. The penetration rate of new energy vehicles in China has also increased from 3% in 2017 to 10% in the first half of 2021. Under the "catfish effect" of Tesla , other new energy car manufacturers and traditional car manufacturers are bound to quickly follow up with automatic driving assistance systems and related hardware. It is expected that the penetration rate curve of automated assisted driving will achieve rapid growth in the future.

2017-2021H1 global L2 and above penetration rate and China's new energy vehicle penetration rate

Source: yole, car-mounted cameras _5span6span, span_

5 span6span

Zhiyan Consulting released the "China Automotive Optical Instrument Industry Market Panoramic Survey and Investment Prospect Analysis Report 2021-2027" data shows: Sunny Optical ranked first in terms of shipments in 2020, with a market share of more than 30% . Japan's macsell, , Nidec Sankyo , Japan's , Fujifilm , and Korea Segoko ranked second to fifth. Thanks to the development of the domestic automobile industry and the high proportion of Japanese companies, Japanese manufacturers occupy five of the top eight manufacturers. Among the ADAS lenses with higher specifications and barriers, Sunny Optical is the company with the highest proportion in the world.Account for more than 50% of the market share.

Vehicle camera lens market pattern in 2020

Source: company announcement, Zhiyan Consulting Co., Ltd.

has a very high technical barrier for automotive lenses. Products usually need to be adjusted using sensor chips. After 1-2 years of research and development, it will be delivered to Tier1 for assembly, and will be provided after 1-2 years of road verification in the vehicle factory. The certification period is 3-5 years. The customer has strong stickiness and the leading companies have stable first-mover advantages.

The market pattern of automotive sensory camera lens in 2020

Source: company announcement, Zhiyan Consulting Co., Ltd.

core hardware module, automotive camera module package and industry chain system Integration, software algorithms and solutions. As far as the smartphone industry is concerned, in the cost structure of optical modules, CIS chip costs account for 50%, and lens costs account for 20%.

2020 mobile phone camera cost composition

Source: company announcements, Zhiyan Consulting Co., Ltd.

and T are mainly assembled by Canadian companies. Magna, Japanese Panasonic , French Valeo, German Bosch, ZF TRW, Continental Lens, etc., the industry structure is relatively scattered. With the rise of new forces in the automobile manufacturing industry, the relationship between traditional automakers and Tier1 may gradually become blurred.At the same time, with the increase in camera pixels and the increase in the difficulty of module assembly, it is expected that in the future, automotive lens manufacturers are expected to gain part of the module share.

2020 in-vehicle camera module market pattern

Source: company announcement, Zhiyan Consulting finishing

span5p _p2

span5p_p3 The shipment volume of HUD is 6.87 million units, and the penetration rate is 7.5%, which is low. With the gradual maturity of the HUD technology and the expansion of mass production, the average price of HUD has dropped. The prices of C-HUD and W-HUD have dropped from US$50 and US$265 in 2016 to US$38 and US$245 in 2020, respectively.

2016 and 2020 HUD average price change comparison (USD)

Source: Zoss Industrial Research, Intellectual Research and Consultation

HUD focus on foreign investment The degree is high, and domestic manufacturers continue to emerge. In 2016, 95% of the global HUD market share was occupied by world-renowned first-tier manufacturers, such as Seiki, Continental, Denso, Bosch and Visteon, with a high degree of market concentration. According to the statistics of Gaogong Intelligent Automobile Research Institute, the top five suppliers of w-hud in the Chinese market in the first half of 2021 are Japan Seiki, Denso, Huayang Group, Yili Electronics and Continental Group, with CR5 accounting for 96.0%, the market shares were 29.8%, 29.7%, 14.4%, 13.5% and 8.5%.Domestic HUD manufacturers have gradually broken the foreign monopoly.

2021H1 domestic market W-HUD competition pattern

Source: Gaogong Intelligent Automobile Research Institute, Zhiyan Consulting Co., Ltd.

6

span

The global automotive lighting industry has a relatively high market concentration, with CR5 reaching 74%. It is dominated by European, American and Japanese manufacturers, including Koito from Japan (25%), Marelli (14%) from Italy, Valeo from France (13%), and Stanley from Japan ( 12%), German Hella (10%) ranked the top five. At the same time, the world’s major car lights

heads actively respond to the trend of intelligent headlights, increasingly fierce competition for new technologies, and also maintain a leading position in the smart headlight market. Domestic car manufacturers such as Huayu Automobile and Xingyu Co., Ltd. have achieved technological breakthroughs, customers have expanded overseas, and have gradually moved to the global stage.

2020 global automotive lighting market pattern

Source: gg-led, Zhiyan Consulting Co., Ltd.

.