China Automotive LED Lighting Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 2.26 Billion |
| Market Size (2030) | USD 3.10 Billion |
| Growth Rate (2025 - 2030) | 6.54% CAGR |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
China Automotive LED Lighting Market Analysis by Mordor Intelligence
The China automotive LED lighting market size stood at USD 2.26 billion in 2025 and is projected to climb to USD 3.10 billion by 2030, translating into a 6.54% CAGR over the forecast period. Intensifying new-energy-vehicle uptake, a nationwide semiconductor localization drive, and rising consumer expectations for intelligent lighting jointly underpin this growth. Tier-1 cities provide early-adopter momentum, yet falling LED component costs are broadening demand to secondary urban centers. Supply-chain maturation in Guangdong and Jiangsu provinces is shortening lead times, while V2X communication pilots are positioning LEDs as both illumination and data-transfer nodes. At the same time, OEMs are differentiating vehicles through signature lighting, spurring both factory-fit and retrofit activity.
Key Report Takeaways
- By sales channel, OEM integration commanded 83.15% of the China automotive LED lighting market share in 2024; the aftermarket is forecast to expand at a 7.13% CAGR through 2030.
- By vehicle type, passenger cars held 69.55% revenue share in 2024, while the same segment is projected to grow at 9.93% CAGR to 2030.
- By installation type, new installations accounted for 62.34% of the China automotive LED lighting market size in 2024, whereas retrofit installations advance at a 7.71% CAGR through 2030.
- By application, exterior lighting led with 78.43% share of the China automotive LED lighting market size in 2024; interior lighting is advancing at a 7.33% CAGR to 2030.
China Automotive LED Lighting Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Safety and energy-efficiency mandates | +1.8% | National; strongest enforcement in tier-1 cities | Medium term (2-4 years) |
| NEV production expansion | +2.1% | Guangzhou, Wuhan, Chongqing manufacturing hubs | Short term (≤ 2 years) |
| Falling LED costs & local supply chains | +1.2% | Guangdong and Jiangsu production clusters | Long term (≥ 4 years) |
| Consumer demand for adaptive/aesthetic use | +0.9% | Tier-1 and tier-2 cities; spreading to smaller urban centers | Medium term (2-4 years) |
| Semiconductor localization incentives | +0.8% | Established chip-making regions | Medium term (2-4 years) |
| V2X pilots using LED signaling | +0.6% | Smart-city pilot zones | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Government Safety and Energy-Efficiency Mandates Accelerating LED Adoption
China’s simultaneous enforcement of UNECE 128 and MIIT chip standards creates an interlocking framework that favors LEDs over halogen alternatives. The GB/T 41797-2022 driver-monitoring rule further extends demand into the cabin by requiring lighting that doubles as a human-machine interface. Inspection protocols in Beijing and Shanghai intensify compliance checks, prompting OEMs to standardize LED packages across model lines. [1]HELLA Press Team, “Press | HELLA,” HELLA, hella.com
Expansion of NEV Production Boosting OEM LED Demand
NEV penetration jumped from 41% in 2024 to an expected 51% in 2025, a surge tied to a trade-in stimulus that may add 4–5 million extra electric vehicles to annual output. Because LEDs deliver lower current draw and enable animated signatures, virtually every new NEV platform adopts full-LED headlamps, tail lamps, and interior ambient modules.
Falling LED Costs and Maturing Domestic Supply Chain
Localization targets of 15–25% chip self-reliance for 2025—and up to 80% for select OEMs—are cutting landed component costs. Mass-production clusters in Foshan and Suzhou achieve economies of scale that let suppliers offer entry-level matrix headlights at mid-segment price points, eroding the premium-vehicle monopoly on adaptive lighting. [2]Staff Reporter, “China's Sanan Optoelectronics to Acquire Dutch LED Company Lumileds for US$239 Million,” DIGITIMES Asia, digitimes.com
Rising Consumer Demand for Adaptive and Aesthetic Vehicle Lighting
Pixel rear lamps unveiled by Marelli at Auto Shanghai 2025 illustrate how buyers now expect lighting to personalize the driving experience, broadcast charging status, and project graphics onto surrounding pavement.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| High upfront cost of advanced systems | −0.7% | Tier-3 cities and rural markets | Short term (≤ 2 years) |
| Semiconductor supply-chain volatility | −1.1% | Guangdong & Jiangsu assembly hubs | Medium term (2-4 years) |
| Data-security concerns | −0.4% | Government and commercial fleets | Medium term (2-4 years) |
| Intellectual-property disputes | −0.6% | Cross-border technology transfers | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
High Upfront Cost of Advanced LED Systems
Matrix headlights cost three to four times more than basic LED units, limiting take-up in cost-sensitive counties. As a result, compact-car trims outside metropolitan regions often ship with fixed-beam LEDs, delaying the broader roll-out of adaptive functions.
Semiconductor Supply-Chain Volatility
Automotive-grade driver IC shortages cause production pauses that ripple through Foshan and Suzhou lighting lines. OEMs respond by dual-sourcing and redesigning boards around domestically fabbed chips, but qualification cycles lengthen product lead-times. [3]Qingsi Meng and Die Li, “Efficiency Evaluation of New Energy Light-Duty Truck Policy in Major Cities of China,” E3S Web of Conferences, e3s-conferences.org
Segment Analysis
By Sales Channel: OEM Integration Dominates Market Structure
OEMs captured 83.15% revenue in 2024 as automakers rolled out LED-centric electrical architectures that elevate lighting to a signature design element. The China automotive LED lighting market benefits from factory pre-calibrated modules that dovetail with warranty programs and ADAS packages. Conversely, the aftermarket, though smaller, is scaling at 7.13% CAGR as owners retrofit existing vehicles with plug-and-play kits, especially in tier-2 cities where workshop networks master CAN-bus re-coding. Declining diode prices and e-commerce availability reduce upgrade friction, further feeding channel diversification.
Second-hand EV imports into inland provinces are also fuelling retrofit work. Owners of 2018-2021 models, whose early LED arrays are dimming, now replace full clusters with energy-efficient units that add sequential turn signals and welcome animations. This durability-driven replacement cycle reinforces the channel’s momentum even as OEM share stays structurally high.
By Vehicle Type: Passenger Cars Drive Electrification Integration
Passenger cars accounted for 69.55% of 2024 revenue and are set to post a 9.93% CAGR thanks to aggressive sedan and crossover launches on dedicated EV platforms. Because LEDs consume up to 60% less power than halogens, they align with range-extension imperatives, locking in near-universal adoption. Commercial vans, while slower to pivot, increasingly specify robust LED fog lamps that withstand high-duty cycles, turning total-cost-of-ownership math in their favor. Two-wheeler makers, led by electric scooter brands in Chongqing, are adopting adaptive front modules to comply with forthcoming glare regulations, adding granularity to segment growth.
Corporate fleets, motivated by urban delivery curfews, are upgrading light commercial vehicles to LED DRLs and rear signatures that satisfy low-noise night-shift rules. This niche yet growing volume further amplifies passenger-vehicle momentum and widens supplier order books.
By Installation Type: New Installations Lead Market Foundation
New installations represented 62.34% of the China automotive LED lighting market size in 2024, cementing LEDs as default fitment on fresh production lines. Platform architects exploit compact optics to free grille real estate for radar modules, reinforcing LED preference. Retrofit demand, advancing at 7.71% CAGR, benefits from modular architecture that lets owners swap projector units without altering harnesses. This ease of upgrade is crucial in coastal provinces, where aftermarket shops upsell animated DRLs to ride-share drivers eager for brand distinction.
Rural penetration remains modest but is rising as nationwide trade-in programs retire older ICE vehicles. Subsidized scrappage vouchers often bundle lighting upgrade kits, nudging hesitant buyers toward retrofit conversion.
By Application: Exterior Dominance with Interior Innovation Surge
Exterior modules comprised 78.43% revenue in 2024, anchored by headlamps and tail lamps that meet UNECE photometric rules while doubling as styling statements. The interior category, however, is pacing fastest at 7.33% CAGR as GB/T 41797-2022 forces OEMs to integrate driver-monitor lighting. Mini-LED backlight adoption in digital cockpits is accelerating, evidenced by Refond’s installation in the Audi E5 Sportback.
Adaptive ambient strips that sync with navigation cues are migrating from premium to mass segments. Meanwhile, exterior surfaces add ground-projection modules that assist curb parking and pedestrian warnings, injecting fresh value into an already dominant application class.
Geography Analysis
Eastern China remains the epicenter of demand, with Shanghai, Beijing, Guangzhou, and Shenzhen accounting for roughly 40% of public charging infrastructure and, by extension, early uptake of full-LED vehicles. Differential license-plate pricing in Shanghai boosts EV sales whenever ICE plate costs rise, a policy that directly stimulates lighting module volume. South-central clusters around Wuhan and Chongqing combine vehicle assembly, chip fabs, and optics molding, creating vertically integrated corridors that compress lead times.
In the Pearl River Delta, tier-2 hubs such as Foshan attract supplier parks that feed both export-oriented OEMs and domestic brands. Government grants cover up to 30% of capital expenditure for LED packaging lines, encouraging smaller firms to scale. Central and western provinces lag in absolute volumes but show faster percentage growth as infrastructure matures. Municipal subsidies in Chengdu have already pushed new-energy light-duty-truck penetration above 11.9%, lifting demand for durable LED modules suited to freight cycles.
Northern regions, facing harsher winters, prioritize LEDs with integrated heaters to prevent snow occlusion. Suppliers that tailor thermal-management features to these climates secure long-term contracts with local bus operators. As component prices fall, smaller inland cities deploy LED-equipped taxis to meet air-quality targets, expanding geographic breadth and stabilizing overall growth.
Competitive Landscape
The China automotive LED lighting market balances between global incumbents that deliver cutting-edge optics and domestic challengers that leverage cost and localization. International majors such as Koito, HELLA, and Valeo retain IP-heavy matrix and laser modules, yet now co-develop with Chinese partners to meet localized homologation schedules. HELLA’s 2024 results revealed that 40% of its sales already come from Chinese OEMs, underscoring the strategic pivot toward local integration.
Domestic players, including Refond, Sanan Optoelectronics, and Huahao Weiye, move up-market by acquiring overseas design assets, as seen in Sanan’s USD 239 million Lumileds buyout. These moves combine European optical know-how with Chinese scale economics. Start-ups exploring RGB-based ground-projection and mood lighting target white-space segments around in-cabin wellness and vehicle-to-pedestrian alerts.
Software-defined lighting is the new battleground. Suppliers bundle CAN-FD and Ethernet modules to enable over-the-air lighting upgrades, creating subscription revenue streams. Marelli’s OLED-TFT rear lamps showcase this shift, permitting fine-grain animations triggered by ADAS events. Intensifying patent cross-licensing suggests future collaboration, yet trade barriers and IP disputes keep competitive tension high.
China Automotive LED Lighting Industry Leaders
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HELLA GmbH & Co. KGaA (FORVIA)
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KOITO MANUFACTURING CO., LTD.
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Valeo SE
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Stanley Electric Co., Ltd.
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ams-OSRAM AG
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- August 2025: Sanan Optoelectronics partnered with Malaysia’s Inari Amertron to buy Lumileds for USD 239 million, expanding into premium automotive LEDs.
- July 2025: GAC FCA declared bankruptcy with RMB 4.044 billion in debt; the facility is being repurposed by GAC Aion for NEV production, shifting regional LED demand.
- June 2025: Marelli and OLEDWorks won AutoTech’s “Collaborative Partnership of the Year” for Digital OLED 2.0 rear lights featuring 60-segment panels.
- April 2025: Marelli demonstrated pixel rear lamps and 360-degree ground projection modules at Auto Shanghai 2025.
- March 2025: HELLA reported record revenue with heightened China exposure and showcased HD lighting roadmaps.
China Automotive LED Lighting Market Report Scope
Daytime Running Lights (DRL), Directional Signal Lights, Headlights, Reverse Light, Stop Light, Tail Light, Others are covered as segments by Automotive Utility Lighting. 2 Wheelers, Commercial Vehicles, Passenger Cars are covered as segments by Automotive Vehicle Lighting.| OEM |
| Aftermarket |
| Passenger Cars |
| Light Commercial Vehicles |
| Heavy Commercial Vehicles |
| Two-Wheelers |
| New Installation |
| Retrofit Installation |
| Exterior Lighting | Headlamps |
| Daytime Running Lights | |
| Taillights | |
| Fog Lamps | |
| Turn Signals | |
| Other Exterior Lightings | |
| Interior Lighting | Dome and Map Lights |
| Ambient Lighting | |
| Instrument Cluster and Infotainment Backlighting | |
| Others Interior Lightings |
| By Sales Channel | OEM | |
| Aftermarket | ||
| By Vehicle Type | Passenger Cars | |
| Light Commercial Vehicles | ||
| Heavy Commercial Vehicles | ||
| Two-Wheelers | ||
| By Installation Type | New Installation | |
| Retrofit Installation | ||
| By Application | Exterior Lighting | Headlamps |
| Daytime Running Lights | ||
| Taillights | ||
| Fog Lamps | ||
| Turn Signals | ||
| Other Exterior Lightings | ||
| Interior Lighting | Dome and Map Lights | |
| Ambient Lighting | ||
| Instrument Cluster and Infotainment Backlighting | ||
| Others Interior Lightings | ||
Market Definition
- INDOOR LIGHTING - It incorporates all LED based lamps and fixtures/luminaire that are used to illuminate indoor section of residential, commercial, industrial buildings and agricultural lighting. LED offers efficient brightness with higher durability in comparison to other lighting technology.
- OUTDOOR LIGHTING - It incorporates the LED lighting fixtures that is used for illumination for exterior/outdoor illumination. For instance, LED lighting fixtures used to illuminate streets and highways, transport hubs, stadiums and other public places such as parking spaces.
- AUTOMOTIVE LIGHTING - It refers to the lighting fixtures installed for illumination and signaling purposes. It is used in both exterior and interior lighting of the vehicle. Headlamps, fog lamp, daytime running light (DRLs) are examples of exterior light whereas cabin light are interior lights.
- END USER - It refers to the end use application area where the LED fixture will be installed. For instance, in terms of indoor lighting, we have residential, commercial and industrial as end user category. For automotive lighting, primary end user considered are automotive manufacturers and aftermarket sale
| Keyword | Definition |
|---|---|
| Lumen | Lumen is a unit of luminous flux in the International System of Units that is equal to the amount of light given out through a solid angle by a source of one-candela intensity radiating equally in all directions. |
| Footcandle | A foot-candle (or foot-candle, fc, lm/ft2, or ft-c) is a measurement of light intensity. One foot-candle is defined as enough light to saturate a one-foot square with one lumen of light. |
| Colour Rendering Index (CRI) | Color Rendering Index (CRI) is a measurement of how natural colors render under an artificial white light source when compared with sunlight. The index is measured from 0-100, with a perfect 100 indicating that colors of objects under the light source appear the same as they would under natural sunlight. |
| Luminous flux | Luminous flux is a measure of the power of visible light produced by a light source or light fitting. It is measured in lumens (lm). |
| Annual Energy Cost | Annual Energy Cost means the average daily energy consumption multiplied by 365 (days per year), expressed in kilowatt hour per year (kWh/a). |
| Constant voltage drivers | Constant voltage drivers are designed for a single direct current (DC) output voltage. Most common constant voltage drivers (or Power Supplies) are 12VDC or 24VDC. An LED light that is rated for constant voltage usually specifies the amount of input voltage it needs to operate correctly. |
| Constant Current Driver | Constant current LED drivers are designed for a designated range of output voltages and a fixed output current (mA). LEDs that are rated to operate on a constant current driver require a designated supply of current usually specified in milliamps (mA) or amps (A). These drivers vary the voltage along an electronic circuit which allows current to remain constant throughout the LED system. |
| Minimum Energy Performance Standards (MEPS) | Minimum Energy Performance Standards specify the minimum level of energy performance that appliances and equipment must meet or exceed before they can supply or used for commercial purposes. |
| Luminous Efficacy | Luminous efficacy is a measurement commonly used in the lighting industry that indicates the ability of a light source to emit visible light using a given amount of power. |
| Solid State Lighting | Solid-state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLED), or polymer light-emitting diodes (PLED) as sources of illumination rather than electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas. |
| Rated Lamp Life | Lamp life, also referred to as rated life, is the time in hours a lamp will last before a percentage of lamps will burn out. |
| Color Temperature | Colour temperature is a scale that measures how ‘warm’ (yellow) or ‘cool’ (blue) the light from a particular source is. It is measured in degrees of the Kelvin scale (abbreviated to K), and the higher the number, the ‘cooler’ the light. The lower the ‘K’ number, the ‘warmer’ the light. |
| Ingress Protection rating (IP rating) | The IP (Ingress Protection) rating of a bulb or light fixture declares the level of protection it has against dirt and water. |
| Fidelity Index | The general colour fidelity index, Rf, represents how closely the colour appearances of the entire sample set are reproduced (rendered) on average by a test light as compared to those under a reference illuminant. |
| Gamut Index | The gamut area is defined as “the area enclosed by a set of test color samples illuminated by a light source, in a two-dimensional chromaticity diagram or a plane of color space.”1 Within a defined color space, a “gamut” describes the subset of colors that can be perceived under specific lighting conditions. |
| Binning | In the lighting industry, the act of "binning" of LEDs is the process of sorting LEDs by certain characteristics, such as color, voltage, and brightness. |
| Accent lighting | Accent lighting, also called highlighting, emphasizes objects by focusing light directly on them. Accent lighting is used inside and outside the home to feature locations such as an entrance or to create dramatic effects. |
| Dimmable driver | A dimming driver has two functions: As a driver, it converts the 230V AC mains input to a low voltage DC output. As a dimmer, it reduces the amount of electrical energy flowing to the LEDs, thereby causing them to dim. |
| Flicker | Flicker is the repeated and frequent variation in the output of a light source over time. |
| Fluorescent | A property of materials defined as the ability to emit light after absorbing electromagnetic radiation such as visible or UV light. |
| Candela | The candela is the unit of luminous intensity in the International System of Units. It measures the light output per unit solid angle emitted from a light source in a specific direction. |
| LUX | Lux is used to measure the amount of light output in a given area - one lux is equal to one lumen per square meter. It enables us to measure the total "amount" of visible light present and the intensity of the illumination on a surface. |
| Uniformity (U0) | The uniformity of lighting has significant effects on visual performance in both indoor and outdoor areas. Uniformity (represented as U0) value can be found by dividing the minimum brightness (Emin) resulting from calculations according to the current lighting order, to the average brightness value (Eavg). |
| Visible Light Spectrum | The visible light spectrum is the segment of the electromagnetic spectrum that the human eye can view. More simply, this range of wavelengths is called visible light. Typically, the human eye can detect wavelengths from 380 to 700 nanometers. |
| Ambient Temperature | Ambient Temperature is the temperature of the air surrounding an electrical enclosure. |
| Current-controlled dimming control | Current-controlled dimming controls LED brightness by varying the applied current using a 0-10V dimmer. Current-controlled dimming is smooth and HD-video friendly. It can only dim to a minimum of 5% of light output. |
| Design Light Consortium | It is a partnership of energy efficiency stakeholders in the United States and Canada to “promote quality, performance and energy efficient lighting solutions for the commercial sector”. |
| Pulse Width Modulation | Pulse-width modulation, or pulse-duration modulation, is a method of controlling the average power delivered by an electrical signal. |
| Surface Mounted Device | A surface mount device (SMD) is an electronic device whose components are mounted or placed directly on the surface of a printed circuit board. |
| Alternating Current | Alternating current is an electric current which periodically reverses direction and changes its magnitude continuously with time, in contrast to direct current, which flows only in one direction. |
| Direct Current | Direct current (DC) is an electric current that is uni-directional, so the flow of charge is always in the same direction. |
| Beam Angle | Beam angle (also called beam spread) is a measure of how light is distributed. On any plane perpendicular to the centerline of the light, the beam angle is the angle between two rays where the light intensity is 50% of the maximum light intensity. |
| LED Based Solar High Mast Lighting Systems | A Solar LED High Mast Light is a raised source of High illumination lights (6~8 lights) and with high intensity on the middle of major junctions (Ring roads, Outer Ring roads), turned on or lit automatically in the absence of light (at specified timings or at periodic times, every night). |
| Surface Mounted Diode (SMD) LEDs | A surface mount diode is a type that emits light and is flat mounted and soldered onto a circuit board. |
| Chip on Board (COB) LEDs | A COB LED is basically multiple LED chips (usually 9 or more) glued directly onto a substrate by the manufacturer to form a single module. |
| Dual In-Line Package (DIP) LEDs | A dual in-line package (DIP or DIL) is an electronic component package with a rectangular case and two parallel rows of electrical connector pins. |
| Graphene LED Lights | A graphene LED light bulb is simply an LED light bulb where the filament has been coated in graphene. A graphene LED bulb is reported to be 10% more efficient than regular LED light bulbs and they are cheaper to manufacture and buy. |
| LED Corn Bulbs | LED Corn lights are designed as an energy efficient alternative to high intensity discharge (HID) and SON lamps. It uses a large number of LEDs on a metal structure to provide sufficient light. This arrangement of LEDs looks a lot like a corn cob, hence the name "corn light". |
| Per Capita Income | Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. |
| Charging Stations | A charging station, also known as a charging station or electric vehicle utility, is a power supply that provides electrical energy for charging plug-in electric vehicles. |
| Headlight | A headlight is a light that is mounted on the front of a car and illuminates the road in front of it. Low beam and high beam LED headlights are additional categories for these LED headlights. |
| Day Time Running Light (DRLs) | A daytime running lamp is a white, yellow, or amber lighting device mounted on the front of a road-going motor vehicle or bicycle. |
| Directional Signal Light | Directional signal lights are the front and rear lights on an automobile that flash to show the direction of a turn. |
| Stop Light | A red light that is mounted to the back of a car and turns on when the brakes are used to show that the car is stopped. |
| Reverse Light | The reverse light is at the back of the vehicle to indicate its backward motion. |
| Tail Light | A red light that can be seen in the dark is mounted on the rear of a road vehicle. Stop, reverse, and directional signal lights are all part of it. |
| Fog Light | Bright lights in automobiles used to increase visibility on the road in foggy conditions or to warn other drivers of the presence of the vehicle. |
| Passenger Vehicle | A passenger vehicle is a road vehicle, other than a moped or a motorcycle, intended for the transportation of people and designed for up to 8 to 9 seats. |
| Commercial Vehicle | A commercial vehicle (Bus, Truck, Van) is any type of motor vehicle used to transport goods or pay passengers. |
| Two Wheelers (2W) | A two-wheeler is a vehicle that runs on two wheels. |
| Streets & Roadways | Both roads and streets refer to hard, flat surfaces on the ground on which vehicles, people, and animals can travel. Since streetways are usually in cities and towns, they often have houses and buildings on both sides. The roadway is in the countryside and sometimes passes through forests and fields |
| Horticulture Lighting | Horticulture is the science and art of sustainably growing, producing, marketing and using high quality, intensively cultivated food and ornamental plants. |
Research Methodology
Mordor Intelligence has followed the following methodology in all our data center reports.
- Step 1: Raw Data Collection: To understand the market, initially, all crtical data points were identified. Critical information about countries and regions of interest including Per-capita Income, Population, Automotive Production, Interest rate on Auto-Loans, Number of Automobiles on Road, Total LED Import, Lighting Electricity Consumption among others were recorded or estimated based on internal calculations.
- Step 2: Identify Key Variables: To build a robust forecasting model, key variables such as Number of Households, Automotive Production, Road Networks among others were identified. Through an iterative process, the variables required for the market forecast were set, and the model was built using these variables.
- Step 3: Build a Market Model: Based on data and critical industry trend data (variables), including LED pricing, LED penetration rate, and project macro and micor economic factors were utilized for building the market forecasting.
- Step 4: Validate and Finalize: In this crucial step, all market numbers and variables derived through an internal mathematical model were validated through an extensive network of primary research experts from all the markets studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 5: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
