NEW YORK, July 16, 2015 /PRNewswire/ -- An automobile is equipped with forward illumination lamps such as headlamps, driving lamps, fog lamps, and cornering lamps. Signal and identification lights such as front position parking lamps, daytime running lamps, turn signals, tail lamps, brake lights, centre high mount stop lamp (CHMSL), emergency stop signal (ESS),and reverse lights are also provided in automobiles. Considering the above-mentioned technologies, this report classifies and defines the automotive lighting market size, in terms of volume and value. Market size, in terms of volume, is provided in million units from 2013 to 2020, while the market size, by value, is provided in terms of $million.
The automotive lighting market has witnessed considerable growth in the emerging economies of Asia such as China and India, owing to low manufacturing costs and favorable government policies.
This report segments the automotive lighting market as follows: by position (front, rear, side, and interior), by technology (halogen, xenon, and LED), adaptive lighting, by application (front, rear, and interior) and two-wheeler, by position (front, side, and rear). Key players in the automotive lighting market have also been identified and profiled.
The growth in this market is primarily driven by increasing vehicle sales and production and technological advancements triggered by growing safety concerns and stringent lighting regulations.
Asia-Oceania is estimated to grow at the highest CAGR—that is, 8.80%—during the forecast period. China is the largest consumer of automotive lighting in the Asia-Oceania region. The reason behind this upswing is the growing sales of premium cars, which is in turn driven by rise in disposable income.
The report also provides a comprehensive review of market drivers, restraints, opportunities, challenges, and key issues in the global automotive lighting market. Apart from analysing the quantitative aspects of these markets, the report also covers qualitative aspects, such as value chain analysis, and Porter's Five Force analysis for the global automotive lighting market.
The automotive lighting market is dominated by a few major players, such as Koninklijke Philips N.V. (The Netherlands), General Electric (U.S.), Magneti Marelli (Italy), Valeo (France), and Koito Manufacturing Co., Ltd. (Japan). The key strategies adopted by these market players are new product development and expansion in potential markets.
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