Global Automotive Lighting Market is Projected to Grow to USD 29.53 Billion by 2021- Research and Markets

Apr 14, 2016, 07:10 ET from Research and Markets

DUBLIN, April 14, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Lighting Market for Automotive by Technology, Position, Adaptive Front, Two-Wheeler, Vehicle Type, & by Region - Forecast to 2021"  report to their offering. 

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The automotive lighting market, by value, is projected to grow at a CAGR of 7.22% from 2016 to 2021 reaching USD 29.53 billion. Major factors driving market growth include growing concern regarding safety especially at night and in low visibility circumstances, rising demand for advanced technologies like adaptive lighting systems to enhance driver's sight without disturbing the on-coming traffic and overall increasing vehicle sales around the globe. 

The market for LED technology is projected to grow at the highest CAGR in terms of value and volume compared to other technologies during the forecast period. This high demand can be substantiated with reasons such as their energy efficiency as LED lights consume less power as compared to halogen lamps, lightweight, and flexibility factor is higher in LED which minimizes design constraints faced by OEMs. Moreover, market for LED technology is also influenced positively by regulatory mandates in Europe. 

Asia-Oceania region is estimated to dominate the automotive lighting market in terms of value. It is projected to grow at the highest CAGR during the forecast period. This can be attributed to emerging economies like China. Growth in this region is due to factors such as lenient labor laws, economical labor and raw materials, strong state support that supports growth in vehicle production. 

Key Topics Covered: 

1 Introduction 

2 Research Methodology 

3 Executive Summary 

4 Premium Insights 

5 Market Overview 

6 Technology Overview 

7 Global Automotive Lighting Market Analysis, By Region, Vehicle Type, Position and Technology 

8 Automotive Lighting Market, By Technology 

9 Adaptive Lighting Market, By Region & Application 

10 Global Two-Wheeler Lighting Market, By Position 

11 Competitive Landscape 

12 Company Profiles 

Companies Mentioned:

  • General Electric
  • Hella KGAA Hueck & Co.
  • Hyundai Mobis
  • Ichikoh Industries Ltd
  • Koito Manufacturing Co. Ltd
  • Koninklijke Philips N.V.
  • Magneti Marelli
  • Osram GmbH
  • Stanley Electric Co., Ltd
  • Valeo S.A.
  • Zizala Lichtsysteme GmbH (ZKW)

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SOURCE Research and Markets