The development trend of China's domestic vehicle industry shows a stable development trend of mature markets. Overall, it is still in a period of growth, but the growth rate has declined. As of the end of 2017, the national car ownership exceeded 200 million. With incomplete statistics, the output of traditional Chinese cars in 2016 exceeded 28 million, an increase of nearly 14% over the same period of the previous year. In 2017, the output of traditional Chinese cars exceeded 28.88 million, which was down to 3% over the same period last year. It is expected that by 2030, the annual growth rate of China's auto industry is expected to stabilize at around 5%, driven by the continued recovery of the global economy. Among them, the growth rate of new energy vehicles represented by electric vehicles will greatly exceed the average growth rate of the industry. The sustained and steady growth of China's auto industry provides stable market demand for the domestic auto parts industry.
Automobile lighting enterprises are an integral part of the auto parts industry. They are closely related to the auto industry. They will be developed along with the auto industry. The products of auto lighting companies are mainly sold to auto companies. The after-sales sales of the end market usually do not exceed 3%. . Since the legally modified lamp market and the after-sales maintenance market are not yet mature, the after-sales sales in the lamp industry are usually negligible. Overall, the growth trend of automotive lighting parts is consistent with the trend of vehicle sales growth.
In summary, the automotive lighting industry will follow the development of the automotive industry. The average growth trend in the next few years is consistent with the growth trend of the automotive industry. The development trend of electrification, automation, sharing and interconnection in the automotive industry will affect the development of the vehicle industry, and there is no separate impact on the automotive lighting industry. It is still unclear whether the four factors will promote the overall automotive industry. As the amount of social ownership decreases year by year, the demand for the spare parts market will also decrease year by year. But regardless of the annual demand, car lights companies need to retain their production lines. This is the biggest difference between automotive lighting companies and civil lighting companies.
At the same time, the future LED lights as lighting functions will continue to develop in the direction of high brightness, low energy consumption and high response. However, LED lights will not only be used as lighting, but will also be a signal output port, indicating the status and needs of the vehicle and the driver in time, which can also exert the essence of the LED lamp semiconductor device to achieve these functions. It will carry more functions around the LED light source, and it will be developed in a more intelligent and user-friendly direction through software control.
In the next five years, opportunities and risks in the automotive lighting industry will coexist. We hope that automotive lighting companies and companies inspirational to enter the field of automotive lighting, seize the opportunity to meet the challenges, avoid risks, make full use of this rare five-year development opportunities, and become the world leader in automotive lighting.