Automotive Lighting Market In-Depth Analysis, Current Trends & Comprehensive Research Report

Felton, Calif., USA, Jan. 05, 2021 — /EPR Network/ —

The global Automotive Lighting Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global automotive lighting market size was valued at USD 19.64 billion in 2014 and is anticipated to reach USD 34.65 billion by 2022. Global automotive market will witness a steady growth with growing demand of automotive vehicle in the upcoming years. Increasing automotive production, rising concerns about vehicle safety, growing population and also government are driving the growth of the market.

Key Players:

• General Electric Lighting
• Hella KGaA Hueck & Co.
• Ichikoh Industries Ltd
• Koito Manufacturing
• Koninklijke Philips N.V.
• Magneti Marelli
• Osram GmbH
• Stanley Electric Co Ltd
• Valeo S.A
• Zizala Lichtsysteme GmbH

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Growth Drivers:

The increase in the purchasing power of the people is also creating opportunities for the market growth. Lighting is a vital component in automotive vehicles and plays a very important role in automotive safety. Automotive vehicle consists of variety of lights to increase the visibility in darkness and bad weather conditions and automotive lights also increase the conspicuity (that is the clarity of observing things) of the vehicle. The lighting system comprises of signalling and lighting devices. The lighting devices are placed in different locations of the vehicle including front, rear, top and interiors.

Halogen being an easily available and cost efficient technology has been majorly adopted by the market and is therefore, being used in lighting technology in the automotive sector also LED and Xenon are prominent lighting technologies which are in prime use in the global automotive lighting market. LED is likely to witness the highest growth amongst the three technologies during the forecast period. LED is relatively costlier, hence, at present is majorly being used in the high-end vehicles. However, research is being done to lower their cost as a result of which it would create significant rise in demand of LED lights in the upcoming years.

Technology Outlook:

• Halogen
• Xenon
• LED

Application Outlook:

• Front/headlamps
• Rear
• Side
• Interior

Regional Outlook:

The growth in the Asia Pacific region is driven by India and China, which are the largest markets for automotive production in the Asia Pacific region. The Asia Pacific region is a hub for automotive components due to improved infrastructure, preferences and changing lifestyles, government initiatives, and overall reduction in vehicle production costs. There is a high growth in the number of vehicles in the BRIC nations which further creates large opportunity for the growth of automotive lighting market during the forecast period. Purchasing power is increasing which in turn is increasing the demand for advanced and sophisticated technologies which include advance front light system (AFS) and daylight running lights system (DRL). Automotive lighting indicates vehicle’s presence, position, size, driver’s intentions regarding direction, and direction to travel and speed of the vehicle that is travelling. The demand for aesthetic lighting is also increasing which in turn would support the demand of lights in commercial and private cars.

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