In recent years, China’s commercial vehicle market has faced numerous challenges and is now seeing new growth opportunities. Dashcams have become an essential component in commercial vehicles. Driven by policy support, technological advancements, and market demand, the commercial vehicle dashcam market is gradually paving its way to extensive development.
1. Market Environment: Growth Potential of the Commercial Vehicle Market
China’s commercial vehicle market is facing both challenges and opportunities. Jiangling Motors, as one of the market leaders, sold 282,000 commercial vehicles in 2022, including 64,700 light trucks, 62,900 pickups, and 77,200 light buses. In 2023, with the recovery of the domestic economy, the market has started to rebound, with total sales reaching 310,000 units, a year-on-year increase of 10%. This environment has provided new opportunities for the dashcam market, with companies seeking more efficient and safer logistics solutions.
2. Policy Drivers: Regulations Ensure Demand for Dashcams
Government attention to road safety and regulatory policies has directly driven the demand for dashcams in commercial vehicles. The government’s regulations have clearly stipulated that commercial vehicles must be equipped with dashcams. Jiangling Motors is expected to have revenue of CNY 33.7 billion in 2023, a year-on-year increase of 12%. The policy dividends have evidently laid the foundation for the growth of the dashcam market.
3. Technological Advancement: Intelligence Drives the Market
Technological advancements have brought new vitality to the dashcam industry. Dashcams have evolved from basic recording functions to include GPS positioning, driver fatigue monitoring, and other intelligent functions, providing logistics companies with more comprehensive safety management and operational data. In 2023, Jiangling launched the all-electric Transit T8 and unveiled the E Roadster at the launch of the Jiangling Lexing New Energy brand, highlighting that the integration of new energy vehicles and intelligent dashcams has brought new growth points to the entire commercial vehicle sector.
4. Market Demand: The Recovery of the Commercial Vehicle Market
The gradual recovery and growth of the commercial vehicle market has driven the demand for dashcams. According to 2023 data, sales of light trucks and pickups are steadily increasing, with Jiangling Motors’ sales reaching 310,000 units in 2023. This indicates that the logistics industry is continuously demanding dashcams. Especially in the pickup and light truck segments, dashcams have become essential tools to improve safety and optimize management.
5. Competitive Landscape: Challenges for Market Players
In the commercial vehicle market, intensifying competition has also made the dashcam market fiercely competitive. Jiangling Motors currently holds a market share of over 20%, ranking first in the domestic light bus market. In such a market environment, dashcam manufacturers need to continuously improve product performance and reliability to gain an edge in fierce competition.
6. Future Outlook: Revenue Growth Drives the Dashcam Market
According to the research report’s forecast, Jiangling Motors will continue to maintain revenue growth in the coming years, especially with the expansion of export markets and the rapid development of new energy vehicles. Jiangling Motors’ revenue in 2023 is expected to reach CNY 33.7 billion, a year-on-year increase of 12%. This growth trend will also drive the development of related parts markets, including dashcams, which will see new growth opportunities driven by policy support, technological advancements, and market demand.
7. Mingshang’s Contribution: Filling the Technical Needs in the Light Commercial Vehicle Sector
As one of China’s leading suppliers of IVI systems, DMS (driver monitoring systems), ADAS, BSD (blind spot detection), 360° surround view systems, and mobile DVRs, Mingshang has been committed to providing advanced dashcam solutions for the commercial vehicle industry. Over the past 19 years, Mingshang has provided advanced visual safety systems to commercial vehicle enterprises, reducing accident risks and ensuring driving safety. Mingshang’s products have been widely used in commercial vehicles, school buses, industrial equipment, trucks, and semi-trailers, continuously making significant contributions to China’s commercial vehicle dashcam market.
