Chan Ye Xin Xi Wang·2025-12-25 01:33Core Insights - The automotive millimeter-wave radar market is currently dominated by international leaders such as Bosch, Continental, and Aptiv, but domestic manufacturers are accelerating the localization process due to improved technology and product competitiveness [1][9] - The Chinese automotive millimeter-wave radar industry is experiencing strong growth, with the market size projected to increase from 2.318 billion yuan in 2015 to 8.822 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 16.01% [1][10] - By 2025, the market size is expected to reach 9.929 billion yuan, driven by a more complete domestic supply chain, increased R&D investment, and growing demand for self-controlled solutions from downstream vehicle manufacturers [1][10] Industry Overview - Automotive millimeter-wave radar operates in the millimeter-wave frequency band, providing critical environmental perception data for autonomous and assisted driving by measuring distance, speed, and angle of targets [1][6] - The radar is categorized into corner radars and front radars, with corner radars used for cross-vehicle warnings and blind spot detection, while front radars are utilized for automatic emergency braking and adaptive cruise control [1][6] Industry Development History - The Chinese automotive millimeter-wave radar industry has undergone five development stages: the initial stage before 2013, preliminary development from 2014 to 2015, scale development from 2016 to 2020, high-quality development from 2021 to 2024, and technological equality from 2025 onwards [4][5] Market Trends - The global automotive millimeter-wave radar market is projected to grow from $2.262 billion in 2020 to $3.482 billion in 2024, with a CAGR of 11.39% [7][9] - By 2025, the global market size is expected to reach $4.195 billion, with front radars accounting for $2.181 billion and corner radars for $2.014 billion [7][9] Competitive Landscape - The industry features a diversified competitive landscape with international giants like Bosch, Continental, and Aptiv leading in high-end markets, while domestic companies such as Desay SV and Huayu Automotive are rapidly gaining market share through R&D and localized services [11][12] - Desay SV has maintained the largest market share in the domestic smart driving sector, achieving a revenue of 4.147 billion yuan in the first half of 2025, a year-on-year increase of 55.49% [12][13] - Huayu Automotive has a strong presence in various automotive components and has integrated millimeter-wave radar and other sensors to provide solutions for different levels of driving assistance [12][13] Future Development Trends - The future of automotive millimeter-wave radar is expected to focus on perception fusion and functional expansion, integrating with cameras and LiDAR for enhanced environmental perception [14] - The industry is also moving towards chip integration, with a trend towards single-chip solutions that reduce size, power consumption, and costs [15] - Additionally, the evolution of radar technology is shifting from hardware functionality to software-defined capabilities, allowing for customizable and upgradable perception models [16]