The worldwide automotive-use LED market (combination of before market and after market) is projected to reach US$2.5 billion by 2018, with a compounded annual growth rate (CAGR) of 9% from 2014-2018. In particular the automotive LED value in before market is projected to reach US$1.9 billion and the after market value is forecast to reach US$620 million, according to LEDinside.
Automotive-use LED marketing presents steady developments, in particular, DRL and H/L Beam growth are the most impressive. These can be attributed to the high-efficiency LED technology advancements. Following falling LED prices, automotive-use LED lightings are gradually migrating from premium-priced to mid-range cars. LEDinside said it projects the automotive LED market value in the H/L beam and fog light applications will reach US$313 million by 2018, with a CAGR of 48% from 2014-2018.
With the rapid growth in demand for GPS, dashboard and other vehicle-use panels, LEDinside forecasts that the automotive LED market value for panel applications will also grow from US$71 million in 2014 to US$130 million by 2018.
