Automotive Lighting Market
Automotive Lighting Market [By Vehicle Type - Passenger and Commercial; By Application- Front lighting, Rear lighting, Interior lighting, and Side lighting; By Technology- Halogen, Xenon, and LED; By Product Scale - OEMs and Aftermarket Product ] - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 - 2027
- Electronics & Semiconductors
- 250 Pages
Automotive Lighting Market - Overview
According to Transparency Market Research’s latest research report on the global automotive lighting market for the historical period 2017, base year 2018, and the forecast period 2019–2027, growing demand for systems that can calculate real time data for the aviation industry is likely to fuel the global automotive lighting market during the forecast period
In terms of revenue, the global automotive lighting market is estimated to reach value of US$ 51,809.9 Mn by 2027, expanding at a CAGR of 5.7% throughout the forecast period
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Increasing production of passenger cars: A Key Driver
The inception of passenger cars provided us with independence and freedom of mobility to travel to all places such as educational institutions, office, hospital, remote areas, etc. and thus, vehicles became an essential part of an everyday life
However, in later years, with technological advancements and increasing disposable income of consumers, their demand and expenditure also increased leading to increased spending on safety, comfort and stylish features in the vehicle
Therefore, to fulfil the market demand, the automotive industry is considerably investing in new automotive technologies and potentially strong product areas to attract target customers
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The growth in the global automotive lighting system market is directly related to the growth of the global automobile market. Therefore, with the increasing sales of automobiles globally, the demand for automotive lighting systems is also set to grow. For instance, in 2018, around 86 million cars were sold.
Product Innovation: Latest Trend in the Global Automotive Lighting Market
Product innovation is one of the essential strategies implemented by the companies to survive in the global market
In order to do so, the leading players in the automotive lighting system market are investing heavily on a continued basis on research and development activities to improve the lighting systems in automobiles
The LED, and HID/Xenon technology in automotive lamps is in great demand among the consumers, and automotive lighting system manufacturers are increasing their efforts to meet these demands by bringing innovation in their products
High cost of HID and LED lighting products a Major Challenge for the Global Automotive Lighting Market
Although HIDs and LED lighting products ensure less energy consumption and longevity, the primary concern is the high cost associated to them
In North America and Europe, this factor is expected to affect only a few areas but in several regions of Asia Pacific, Middle East and Africa and South America, the impact is bound to be high because of the high number of price conscious consumers in these regions
In spite of the fact that the cost of LED would decrease over a period of time, the huge financial investment that automotive lighting system manufacturers have to undertake for research and development activities would affect its overall price
Global Automotive lighting Market: Competition Landscape
Detailed profiles of providers of commercial automotive lighting have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
Key players operating in the global automotive lighting market are
- General Electric Co.
- Hella KGaA Hueck & Co
- Hyundai Mobis
- ICHIKOH INDUSTRIES LTD
- Magneti Marelli S.p.A
- OSRAM Licht Group
- Royal Phillips Electronics
- SAMSUNG ELECTRONICS Co., Ltd
- Stanley Electric Co. Ltd
- Zizala Lichtsysteme GmbH
- Koito Manufacturing Co.,LTD
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Global Commercial Avionics Market: Key Developments
Key provider of commercial automotive lighting such as Koninklijke Philips N.V is focusing on development of innovative products to offer a diversified range of products and win more customers. Some key developments in the global automotive lighting market includes:
Koninklijke Philips N.V. has designed new DiamondVision halogen headlamp. This headlight comes with 12V and 55W with 935 lumens. The color temperature ranges upto 5000K and comes in ultimate white light
In the report on the global automotive lighting market, we have discussed individual strategies, followed by company profiles of providers of commercial automotive lighting. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global automotive lighting market.
Automotive Lighting Market
Automotive lighting is essential to traveler security, solace and vehicle styling. The innovation utilized in automotive lighting has quickly extended to make the lighting more worth added, more secure and satisfying to clients. The worldwide automotive lighting market has been generally profiting with the changing standards in unofficial laws and end-clients point of view towards upgraded security in autos. The automotive business is prospering with the rapid development of various supporting ventures. In the past years, interest for electric vehicles has taken off across the globe and gave the automotive business different new roads to develop and succeed. This development has additionally expanded development in the worldwide automotive lighting industry. Progressed electric vehicles have distinctive sort and plans of lighting frameworks to draw in clients and help automotive organizations stand apart from the alliance. In addition, makers zeroing in on further developing perceivability in obscurity and giving better automotive lighting market capacities in awful climate conditions.
The increasing adoption of passenger cars offered the freedom and ability to travel places such as hospitals, offices, schools, and educational institutions on a daily basis. Vehicles became a vital part of everyday lives for people all around the world. The increasing disposable incomes of people and the rising trend of road trips and travels, coupled with the attractive features offered by the latest automobiles will increase their sales in the worldwide market, thereby augmenting the growth of the market for automotive lighting in the coming years.
Global Automotive Lighting Market: Overview
Global automotive lighting market report provides analysis for the period 2019 – 2027, wherein the period from 2019 to 2027 is the forecast and 2018 is the base year. The automotive lighting report covers all the major types and application playing significant role in the global automotive lighting market’s growth over the forecast period. The report also include various drivers, restraints, and opportunities expected which affect market’s growth during the above mention period. The study provides an entire perspective on the market’s growth in terms of revenue in US$ Mn and volume in Mn units, across different geographical regions such as Asia Pacific, North America, Middle East & Africa, Europe, and South America.
The market overview section of the report demonstrates the market dynamics such as the drivers, restraints, and opportunities that influence the current nature and future status of this market, key indicators and trends. An attractiveness analysis has also been provided for every segment in the report, in order to provide a thorough understanding of the overall scenario in the automotive lighting market. Moreover, the report provides an overview of various strategies adopted by the key players present in the market. Key market indicators included in the report provide significance of the factors which are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period.
Global Automotive Lighting Market: Key Segments
Global automotive lighting market is segmented based on vehicle type, by application, by technology, by product scale and by region. By vehicle type, the market is further segmented into passenger type and commercial type. By application, automotive lighting can segmented into front lighting, rear lighting, interior lighting, and side lighting. By technology, automotive lighting market is bifurcated as Halogen, Xenon, and LED. By product scale it can be segmented as OEMs and aftermarket product.
The report also highlights the competitive landscape of the global automotive lighting market, thereby positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the market. The comprehensive global automotive lighting market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affect global automotive lighting market growth. This report provides all the essential information required to understand the key developments in the automotive lighting market, growth trend of each segment and companies strategies to efficiently compete into the market. Also, the report provides insights related to trends and its impact on the market.
Companies Mentioned in Report
The prominent players such General Electric Co., Hella KGaA Hueck & Co, Hyundai Mobis, ICHIKOH INDUSTRIES LTD, Magneti Marelli S.p.A, OSRAM Licht Group, Royal Phillips Electronics, SAMSUNG ELECTRONICS Co., Ltd, Stanley Electric Co. Ltd, VALEO, Zizala Lichtsysteme GmbH, Koito Manufacturing Co.,LTD, among others in global automotive lighting market. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
- Front lighting
- Rear lighting
- Interior lighting
- Side lighting
- Aftermarket Product
Global Automotive Lighting Market, by Region
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
by Vehicle Type
by Product Scale