Global Automotive Lighting Systems Market is estimated to reach USD 50961.46 million

Overview

Growing automobile production to address the increasing consumer demand is the driving factor of automotive lighting systems market. Traditionally, halogen, presence a low-cost and easily available technology, has been the majorly used in lighting technology. Halogen was earlier a conventional choice for lighting in cars and other vehicles. However, with the advent of time, other lighting technologies became more prominent. Xenon and LED are the other noticeable lighting technologies. Between, all the three technologies, LED would observe the highest growth during the forecast period. This can be attributed towards the noticeable shift towards energy-efficient technology in lighting controls.

LED lighting possesses high capabilities and flexibility for use in various automotive lighting applications. These also allow room for innovation with lighting techniques and designs, as LEDs are versatile and can be incorporated with other technologies. Many technological innovations and unique products are being created using LED lighting, to cater to a vast customer base. Currently, LED lights are installed mostly in high-end vehicles due to their higher cost. However, the current research to lower their cost, would create important demand of these lights. The market estimate for automotive lighting looks promising in the given forecast period.

By product type, the global automotive lighting systems market can be divided as Front Lighting System, Rear Lighting System, Interior Lighting System and Side Lighting System.

The interior lighting segment in product type is likely to lead in the market of automotive lighting market and expected to grow during the forecast period. The interior lighting solutions in the automotive lighting market are gaining grip due to the implementation of enhanced lighting systems in the high-end and modern passenger cars that offer ambient and mood lighting features. Earlier, these systems were deployed in luxury cars only; however, due to the high demand, the solutions are being implemented in the passenger & commercial vehicles. The lighting solutions are utilized for providing driver safety and a clear visibility.

The interior lighting systems have a great demand in the North American and European countries due to the presence of major Original Equipment Manufacturers such as BMW, Mercedes, and Audi. The U.S. government initiatives to reduce road accidents and enhance the driver safety are creating a demand for the LED-based lighting products. Moreover, advanced front lighting systems are increasingly implemented in the commercial vehicles due to the requirements of robust headlamps in trucks that provide driver safety at nights and in odd driving conditions, further contributing to the automotive lighting systems market growth.

As per application side, the global automotive lighting systems market can be categorized into Passenger Vehicles and Commercial Vehicles. the passenger vehicle segment is dominating the industry in terms of revenue share. Passenger vehicle majorly deploy the lighting systems due to their incorporation into interior & exterior, side, rear, and front-lighting applications. These vehicles cover the largest market share due to high consumption across the globe and the addition of LED-based lights into lighting systems. The modern lights offer advantages to the passenger cars such as improved performance, design flexibility, and longer product lifetime. Manufacturers offer highly efficient lights and lamps that support the road safety features in passenger vehicles.

LED and laser-based lights improve headlamp illumination and support their integration into advanced systems such as AFS and bend lighting systems. The passenger vehicle production across the world is approximately three times the number of commercial vehicles production. China has the largest share of passenger vehicles, followed by the United States, Japan, Germany, South Korea, and India. An increased focus on enhancing the vehicle aesthetics and looks by automobile companies demands advanced and high-quality lighting systems. The commercial vehicles in the market are witnessing steady growth due to the implementation of enhanced lighting products. These vehicles require highly efficient lighting components to offer a longer life and quick response in emergency situations.

Geography wise, The Asia Pacific automotive lighting market dominates the overall industry in terms of revenue share over the forecast timeline. The region is witnessing a rapid growth in the automotive lighting market due to the presence of several key manufacturers in China, Japan, and South Korea. The increasing demand for Asian-made automotive components in the U.S. and European region drives the industry demand. The dominance of South Korea in the Asia Pacific market is on a rise due to the increased manufacturing, sales, and export activities.

The presence of major automotive producers, such as Hyundai, Kia Motors, and SsangYong Motors, accounts for a high growth in the country. Additionally, government initiatives and regulations in Japan to control the environmental hazards and use of mercury are creating a high demand for advanced lighting solutions.

The U.S. automotive lighting market is expected to grow during the forecast period. Consumers in the U.S. possess high spending capability, leading to the growing sales of vehicles with intelligent driving and lighting systems. OEMs in the region deploy products imported from the Asian countries due to the low prices and high quality. In Europe, the regulation on DRLs lead to a rise in demand for automotive LED lighting. The rising demand and advanced technologies are encouraging manufacturers to lower the production costs and improve the yield.

Also, increasing R&D in the technology has improved the successful integration of LEDs into the automotive exterior light, contributing to the automotive lighting market growth.

The global automotive lighting market is a merged market with prominent manufacturers holding substantial market share. Some of the prominent players in the Automotive Lighting market are Magneti Marelli S.P.A., Hella KgaA Heuck & Co, Stanley Electric Co Ltd., Valeo S.A, Koito Manufacturing Co., Ltd, among others. In 2017, VAleo SA developed ICHIKOH INDUSTRIES, LTD, a Japanbased automotive lighting manufacturer. This gaining helped the company to rise its market share in the automotive lighting market in Japan.

Also in April 2018, Hella KgaA Heuck & Co collaborated with Beijing Hainachuan Automotive Parts Co., Ltd (BHAP) and came to be known as HELLA BHAP in China. This collaboration increased the company’s presence in China.

Additionally, major automotive lighting manufacturers are highly investing in R&D to develop new and innovative products which can provide to the growing demand for automotive lighting from the automobile industry. These key developments are projected to accelerate the growth of the automotive lighting market during the assessment period.

Major players in the Market are identified through secondary research and their Market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and Marketing executives. The percentage splits, Market shares, growth rate and breakdowns of the product Markets are determined through using secondary sources and verified through the primary sources.

Inquiry about report OR ask for Sample Report @ https://www.profsharemarketresearch.com/inquiry/automotive-lightingsystems-market-report-inquiry/ Global Automotive Lighting Systems Market: Product Type  Front Lighting System  Rear Lighting System  Interior Lighting System  Side Lighting System

Global Automotive Lighting Systems Market: Application  Passenger Vehicles  Commercial Vehicles Global Automotive Lighting Systems Market: Competitive Analysis  Koninklijke Philips  Osram Licht  Hella KGaA Hueck  Hyundai Mobis  Magneti Marelli  Stanley Electrics  Valeo  Genral Electric  Koito Manufacturing Automotive Lighting Systems Market: Regional Analysis  North America  U.S.A  Canada  Europe  France  Germany  Spain  UK  Rest of Europe  Asia Pacific  China  Japan  India  South East Asia  Latin America  Brazil  Middle East and Africa

Access Full Report @ https://www.profsharemarketresearch.com/automotive-lighting-systemsmarket/ Automotive Lighting Systems Market Report delivers comprehensive analysis of :  Market Forecast for 2019-27  Market growth drivers  Challenges and Opportunities  Emerging and Current market trends  Market player Capacity, Production, Revenue (Value)  Supply (Production), Consumption, Export, Import analysis  End user/application Analysis About Profshare Profshare Market Research is a full service market research company that delivers in depth market research globally. We operate within consumer and business to business markets offering both qualitative and quantitative research services. We work for private sector clients, along with public sector and voluntary organisations. Profshare Market Research publishes high quality, in-depth market research studies, to help clients obtain granular level clarity on current business trends and expected future developments. We are committed to our client’s needs, providing custom solutions best fit for strategy development and implementation to extract tangible results.

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