Automotive Lighting Market Size Worth $30.1 Billion in 2016

Oct 12, 2015, 01:30 ET from ReportsnReports

PUNE, India, October 12, 2015 /PRNewswire/ --

Global and China Automotive Lighting Market Report of 2015 says this industry is expected to grow by 10.8% to $28 billion in 2015, the highest growth rate since 2010, and reach $30.1 billion in 2016, a year-on-year rise of 7.5%.

Complete report on automotive lighting market spread across 147 pages, talking above 21 companies including automotive LED lighting players and supported with 146 charts is now available at http://www.reportsnreports.com/reports/426422-global-and-china-automotive-lighting-industry-report-2014-2015.html .

There are two reasons for significant expansion of automotive lighting market. One is substantial improvement in the penetration of LED. As the price of LED chip continues to drop, more and more companies adopt LED to make headlamps. Despite the price of LED chip declines, LED headlamps are still more expensive than halogen lamps. About 4% of headlamps were made of LED in 2014. The figure rose to 7% in 2015 and is expected to hit 15% in 2017 and 21% in 2020, as a growing number of companies employ LED in the pursuit of emotional or aesthetic appearance. The other reason for automotive lighting market growth is the use of ADB/AFS. The penetration of AFS will arrive at 15% in 2015, and that of ADB 3% in the year and is predicted to stand at 10% in 2020 and 25% in 2025. The adoption of ADB makes headlamps more complicated and raises the cost. In addition, laser headlamps and OLED tail-lamps have come into being. The penetration of laser headlamps, which are extremely expensive, is expected to reach 15% in 2025.

Global economic downturn, especially the economic slowdown in China, will prolong the downward trend in the Chinese automobile market over the next couple years, thus slowing expansion of the automotive lighting market. Moreover, the deflation has been severe. From the perspective of industry, big companies hold an increasingly dominant position, finding a higher rate than small ones in terms of revenue growth. For example, within the automotive lighting market, Valeo is expected to be the one performing best in 2015 with a growth rate of up to 19%. Valeo won nearly 90% of headlamp orders of Volkswagen's Passat B6 platform and 1/3 of Audi's headlamp orders. The competitor- Hella is suffering market share contraction.

Companies covered in this global and China automotive lighting market research for 2015 include Hella, Koito, Ichikoh, Stanley, Valeo, VARROC, Automotive Lighting (Magneti Marelli), TYC, DEPO, Ta Yih Industrial, Changzhou Xingyu, Jiangsu Tongming, ZKW, Liaowang Automotive Lamp, SL, Zhejiang Tianchong, Laster Tech, FIEM, Nichia Chemical, Toyoda Gosei and OSRAM. Order a copy of Global and China Automotive Lighting Industry Report, 2014-2015 at http://www.reportsnreports.com/Purchase.aspx?name=426422 .

The second research on same topic and titled Automotive Lighting Market by Technology (Halogen, Xenon, & LED), Adaptive Lighting (Front, Rear & Ambient), Position (Front, Rear, Side & Interior), Two-Wheelers (Front, Rear, & Side), by Region & Vehicle Type - Industry Trends & Forecast to 2020 says the industry has witnessed considerable growth in the emerging economies of Asia such as China and India, owing to low manufacturing costs and favorable government policies. 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.   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. Companies like Hella KGAA Hueck & Co., Magneti Marelli, Koito Manufacturing Co., Ltd, Stanley Electric Co., Ltd, Valeo S.A., General Electric, Osram GmbH, Ichikoh Industries, Ltd, Hyundai Mobis, Koninklijke Philips N.V. and Zizala Lichtsysteme GmbH (ZKW) are profiled in this report available at http://www.reportsnreports.com/reports/243578-automotive-lighting-market-by-position-front-rear-side-interior-technology-halogen-xenon-hid-led-vehicle-type-geography-global-trends-forecast-to-2018.html .

Explore more reports on the automotive market at http://www.reportsnreports.com/market-research/automotive/ .

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