According to the latest report of internationally renowned market research institutions, the global automotive lighting market will reach $38 billion in 2024, an increase of 8.5% year-on-year. Among them, the market penetration rate of LED light sources and lens modules has exceeded 45%, and it is expected to exceed 60% by 2027.
The report pointed out that the core factors driving the growth of the market include: the surge in sales of new energy vehicles driving the demand for intelligent lighting, the continuous improvement of energy efficiency standards for lights in various countries, and the increasing attention of consumers to driving safety at night. As a star product in the high-end refit market, bifocal lenses maintained a compound annual growth rate of more than 12%, especially in Europe, America and South East Asia.
Industry experts believe that with the continuous maturation of optical technology and the gradual decrease in cost, high-quality LED lenses will be rapidly popularized from high-end models to the low-end market, which has brought huge development opportunities for lens manufacturers with independent research and development capabilities.