Thanks to the increase in the level of autonomous driving, the number of demand for on-board cameras, ultrasonic & millimeter-wave radars, and lidars continues to increase, which in turn drives the rapid increase in market size. Key modules such as ultrasonic radar, millimeter-wave radar, and cameras in the Chinese market are mainly provided by foreign Tier 1 companies. Lidar is still in its early stages of development, and domestic companies such as Hesai Technology and Robosense are entering the industrial chain of domestic automakers. (CITIC Securities report)
According to data from China Industry Information Network, global millimeter-wave radars are mainly provided by overseas suppliers such as Bosch, Continental, and Hella, with market share in 2018 was 19%, 16% and 12%, respectively. Domestic autonomous vehicle millimeter-wave radar products are still in the development stage. 24GHz is currently the mainstream, and 77GHz is in its infancy. Hasco has achieved mass production of 24GHz millimeter-wave radar and small-scale mass production of 77GHz radar products; Desay SV 24GHz radar has been equipped with XPeng, Chery and other vehicles, and 77GHz radar has received mass production orders. (CITIC Securities report)
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