LiDAR industry is booming

As vehicle autonomy continues to evolve, the related industry chain has also maintained high growth in recent years. Among them, LiDAR, a key hardware component for distance measurement, has seen continuous increases in shipment volume. A production director at a certain company introduced that the price of entry-level LiDAR on the current market has dropped to a relatively low level. "At a price point of perhaps 1,000, 2,000, or 3,000 yuan, vehicles can now be equipped with traditional LiDAR," he said.

Guolian Shenmin Securities believes that the LiDAR industry has completed its transition from "technology validation" to "commercial mass production" and has entered the performance realization phase. The industry will usher in a "dual-wheel drive" growth model. ADAS, as the core business, benefits from cost reduction and increased penetration rate, providing stable cash flow; the broader robotics sector serves as the growth engine, achieving "0 to 1" breakthroughs in areas such as Robotaxis, unmanned logistics, and lawn mowing robots, contributing high-margin incremental gains.

Dongguan Securities considers LiDAR one of the core sensors for autonomous driving, with clear advantages in performance, interference resistance, and information volume. LiDAR has transformed from a "noble sensor" into a "100,000-yuan standard configuration." Chinese manufacturers lead globally in scale, cost, and mass production rhythm. The industry is currently experiencing a golden period of "volume and price rising together." With costs declining, the number of vehicles equipped and the penetration rate are expected to continue increasing. Additionally, the gradual rise in NOA penetration, the increasing penetration of Robotaxis, the mandatory implementation of AEB, and the continuous improvement of autonomous driving policies and commercial infrastructure will all contribute to a further explosion in future demand for LiDAR, with shipment volume expected to continue rising.