Lighting Market for Automotive Worth 29.53 Billion USD by 2021

Apr 05, 2016, 07:30 ET from MarketsandMarkets

PUNE, India, April 5, 2016 /PRNewswire/ --

The report "Lighting Market for Automotive by Technology (Halogen, LED, Xenon), Position (Front, Side, Rear, Interior), Adaptive Front (Front (Auto On-Off, Bending, Cornering, High Beam Assist, Headlamp Levelling), Rear, Interior), Two-Wheeler, Vehicle Type, & by Region - Forecast to 2021", The Automotive Lighting Market is projected to grow to USD 29.53 Billion by 2021 at a CAGR of 7.22%, for the period under study.

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Browse 102 market data Tables and 72 Figures spread through 135 Pages and in-depth TOC on "Lighting Market"

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The market defines and segments the automotive lighting market with an analysis and forecast of the global market size, by volume and value.

The market is driven by increasing vehicle production, technological advancements in the field of automotive lighting and increasing concern over safety while driving at night.

Front automotive lighting to be the largest segment 

The study has considered four lighting positions in a vehicle for the estimation of market sizing, namely front, rear side and interior. Front lighting, by value will constitute the largest automotive lighting segment by 2021. As a result increasing vehicle production across segments and regions will directly impact the demand for front automotive lighting systems. Owing to increased preference towards luxury and comfort, the interior segment lighting is also gaining focus.

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LED would be the future of automotive lighting 

The report classifies automotive lighting by three major technologies, Halogen, Xenon and LED. Laser and OLED technologies have been introduced; however, they are still in the development stage. Xenon has shown exponential growth in the recent years but the ultra-bright light dazzles oncoming traffic. LED lights are energy efficient, lightweight and occupy less space than conventional lighting systems. Given the advantages of LED, they are being increasingly adopted in vehicles across the globe.

Growing markets like China and India to drive the Automotive Lighting Market 

Asia-Oceania is one of the largest markets for automobiles. High growth in developing economies like China and India can be credited for the growth of the Automotive Lighting Market in the region. China and India have seen growth in vehicle production and sales. This trend is expected to remain unchanged for the period under study.

The major market players covered in the report are Hella (Germany), Magneti Marreli (Italy), Koito Manufacturing (Japan), Stanley Electric (Japan) and Valeo SA (France). Other market players include General Electric (USA), Osram (Germany), Ichikoh Industries (Japan), Hyundai Mobis (South Korea), Philips (Netherlands) and ZKW Lighting Systems (Austria).

The report covers the global Automotive Lighting Market in terms of volume (million units) and value (USD Million). It explains the qualitative and quantitative aspects of the Automotive Lighting Market based on region, technology, vehicle type, position, two wheeler and adaptive lighting from 2016 to 2021. It also provides an overview of technical factors and other important aspects of the Automotive Lighting Market.

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