Automotive Camera Market in China Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

China Automotive Camera Market Forecast 2022-2026

The automotive camera market share in China is expected to increase by 2,567.82 thousand units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.02%. The priority of automotive safety among customers is notably driving the market growth in China, although factors such as high replacement costs associated with camera modules may impede the market growth. This market report provides valuable insights on the market, which will help companies evaluate their business approaches.

What will the Automotive Camera Market Size in China be During the Forecast Period?

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The market research and growth report also offers information on several market companies, including Aptiv Plc, BorgWarner Inc., Continental AG, DENSO Corp., Magna International Inc., Robert Bosch GmbH, Sony Group Corp., Valeo SA, Veoneer Inc., and WEMAER electronic technology Co. Ltd. among others.

Key Drivers, Trends, and Challenges

Key Market Driver

One of the key factors driving the market growth is the priority of automotive safety among customers. Automobile safety is evolving as an important feature for customers, which is leading them to install advanced safety systems in their vehicles. Since the last decade, the automotive industry has been actively working on improving road safety by preventing accidents and reducing injuries. Most safety measures are focused on drivers, as human errors are the prime cause of accidents. Several technical measures, especially active safety systems, work effectively in preventing accidents by warning drivers to take precautions before the occurrence of accidents. Thus, continuous developments of the manufacturers to offer customized products are allowing customers to adopt  which will positively impact the market growth during the forecast period.

Key Market Trend 

Another key factor driving the market is the increased use of wide-angle camera technology. The development of a camera system for the automotive market is rapidly gaining importance, primarily driven by the growing safety concerns for both passengers and vulnerable road users, such as pedestrians. The use of wide-angle lenses in modules is gaining importance due to its wide field coverage and enhanced picture quality. OEMs are exploring safety solutions that detect the driver's blind spots on the road, which will increase the adoption of wide-angle cameras in the automotive industry. Such factors are expected to support the growth of the market in focus during the forecast period.

Key Market Challenge

One of the key challenges is the high replacement costs associated with camera modules. High-end camera systems include several features, such as large screen monitors, GPS navigation, multiple cameras, better image resolution, and night vision cameras. These may cost between USD 1,000 and USD 1,200. Major automakers, such as Honda, include rearview cameras in their basic Civic LX model, whereas Chevrolet and Ford have cameras on Colorado and Focus S models, respectively. Moreover, the aftermarket manufacturing cost of these rearview cameras is relatively low. The low cost of local aftermarket products acts as a major challenge for the key companies and OEMs in China.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Companies in China?

The report analyzes the market's competitive landscape and offers information on several market companies, including:

• Aptiv Plc
• BorgWarner Inc.
• Continental AG
• DENSO Corp.
• Magna International Inc.
• Robert Bosch GmbH
• Sony Group Corp.
• Valeo SA
• Veoneer Inc.
• WEMAER electronic technology Co. Ltd.

This statistical study of market growth analysis encompasses successful business strategies deployed by the key companies. The market is fragmented and the companies are deploying organic and inorganic market growth and forecasting strategies to compete in the market research report.

Product Insights and News

• Aptiv Plc - The company offers cameras where a wider field of view allows the system to detect pedestrians, cyclists, and other objects that might cross into the path of the vehicle sooner, under the brand name of Aptiv.
• Aptiv Plc - Signal and power solutions segment of the company includes complete design, manufacturing, and assembly of vehicles electrical architecture, including engineered components, connectors, wiring assemblies and harnesses, cable management, electrical centers and hybrid high voltage, and safety distribution systems.

The automotive camera market in China forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Market Segmentation

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The market share growth in China by the passenger vehicles segment will be significant during the forecast period. Luxury automakers are focusing on increasing the safety level of passenger cars and are adopting advanced safety functions, such as camera-based side mirrors, which is expected to drive the segment in focus during the coming years.

Market Analyst Overview

In the dynamic landscape of the automotive industry, the Automotive Camera Market in China is witnessing a remarkable evolution driven by advancements in technology and a growing emphasis on safety. Particularly in premium cars, safety installations such as automotive night vision systems and driver monitoring systems are becoming standard features, enhancing driver awareness and overall vehicle safety.

Despite occasional economic hiccups and economic slowdowns, the Chinese economy continues to demonstrate resilience, with rising disposable income among middle-class consumers driving demand for vehicles. As vehicle production ramps up, spurred by incentives from the Chinese government and reduced taxes on cars, the market for safety features including automotive cameras is expanding rapidly.

The proliferation of low-cost automobile cameras is particularly notable in passenger vehicle mid-price segments, fueling growth in the automotive camera industry. With advancements in autonomous vehicles and autonomous emergency braking, alongside features like parking assistance and 360-degree vision, automotive cameras play a pivotal role in enhancing automotive safety systems.

Chinese manufacturers are leveraging advantages in labour and production costs, bolstering the availability of automotive cameras in aftermarket stores and strengthening the Chinese automotive components industry. Integrating features such as blind spot detection and lane-keeping assistance, alongside forward collision warning systems that detect the closest object and assess the scale change to anticipate a potential collision, underscores the importance of automotive cameras in modern vehicles.

Market forecasting indicates significant market growth and trends in the passenger car active and passive safety systems market, with automotive cameras playing a central role in shaping the future of automotive safety in China.

Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.02%
Market growth 2022-2026	2,567.82 th units
Market structure	Fragmented
YoY growth (%)	4.82
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aptiv Plc, BorgWarner Inc., Continental AG, DENSO Corp., Magna International Inc., Robert Bosch GmbH, Sony Group Corp., Valeo SA, Veoneer Inc., and WEMAER electronic technology Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our market analysis and report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive market growth in China during the next five years
• Precise estimation of the market size in China and its contribution to the parent market
• Accurate predictions on upcoming market trends and analysis and changes in consumer behavior
• The growth of the industry in China  
• A thorough analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of the  market companies in China 

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