智通財經APP獲悉,天風證券發佈研究報告稱,2024年2月,中國新能源乘用車市場零售38.93萬輛,同比減少11%,環比下降41%,環比出現較大下滑或受春節節前消費和節後價格戰升溫影響。零部件方面,標配L2及以上智能駕駛滲透率爲44.57%,同比+10.94pct,環比+2.36pct。激光雷達/攝像頭(≥10個)/HUD/電吸門滲透分別爲9.93%/19.92%/18.19%/15.93%,同比+6.87/+11.02/+11.74/+7.95pct,環比+2.69/+3.24/+2.39/+3.04pct。在智能化加速的趨勢下,建議關注激光雷達/HUD/攝像頭/電吸門滲透率提升。
天風證券主要觀點如下:
智能駕駛:標配L2及以上滲透率44.57%,攝像頭(≥10個)/激光雷達/超聲波雷達(≥10個)滲透率明顯提升
1)感知層:車外攝像頭(≥10個)滲透率爲19.92%,同比+11.02pct,環比+3.24pct。超聲波雷達(≥10個)滲透率爲29.42%,同比+11.15pct,環比+4.04pct 。毫米波雷達滲透率39.36%,同比+11.09pct,環比-1.01pct。激光雷達滲透率爲9.93%,同比+6.87pct,環比+2.69pct。高精地圖滲透率爲11.31%,同比+2.02pct,環比+0.34pct。
2)決策層:英偉達/地平線/Mobileye滲透率分別爲5.03%/5.33%/1.06%,地平線和英偉達有所上升,地平線滲透率仍略高於英偉達。
3)智駕功能:車道保持輔助/自適應巡航/車道居中輔助/併線輔助/自動變道輔助/自動泊車入位/記憶泊車滲透率分別爲46.12%/45.56%/44.44%/39.47%/21.22%/22.30%/4.93%,行車泊車功能持續滲透。4.93%%。
智能座艙:HUD滲透率增幅較大,高通座艙芯片滲透率達21.76%
1)車載顯示:大尺寸(10吋以上)液晶儀表/中控屏/副駕屏/後排液晶屏/HUD滲透率分別爲39.96%/89.21%/9.04%/4.55%/18.19%,同比-0.28/+4.92/+3.39/+0.72/+11.74pct,環比-0.47/-1.10/+0.82/+0.84/+2.39pct。2)智能語音:已實現高位滲透達83.11%,同比+2.65pct,環比-1.35pct。3)座艙芯片:高通芯片市場份額佔比接近60%,滲透率達到21.76%,同時8295芯片滲透加速。
4)熱泵管理系統滲透率爲26.64%,同比-5.86pct,環比+0.08pct。5)全景天窗滲透率達到18.58%,同比-0.12pct,環比-0.12pct。
底盤及車身:電吸門標配滲透率持續提升至15.93%,同比+7.95pct,環比+3.04pct
1)空氣懸架滲透率持續提升至4.96%,同比+1.21pct,環比+1.59pct。2)無框車門滲透率爲19.80%,同比+4.66pct,環比+1.26pct。3)電吸門/電尾門滲透率分別爲15.93%/43.28%,同比+7.95/+2.61pct,環比+3.04/+1.22pct。
風險提示:數據可靠性風險,數據統計風險,報告僅爲市場監控,不構成投資建議