The automotive lighting market has witnessed eminent growth in the last couple of years globally. A handful of companies have ventured into the manufacturing of lighting systems, and therefore, it is a consolidated market with very few players. The automotive product lighting is aimed at eliminating the hassles associated with the blinding of oncoming traffic by high beam light of an individual vehicle. In the US, due to technical regulations and different preferences of both automakers and automotive manufacturers, the American automotive lighting market is quite different from the rest of the developed world. In addition to the high production of vehicles in the US, the country also witnesses the implementation of rules for automotive lighting. In the US, the vehicles have to be equipped with left & right amber sidelights.
The front and rear lights form the major share in the automotive lighting. Automakers have been increasingly looking for lightweight automotive components that enhance fuel-efficiency and performance of vehicles. The LED lighting used in automobiles is lightweight compared to the traditional filament-based headlamps. LED lamps are usually cooler and smaller, and consume lesser energy compared to standard automotive lamps. They also offer safety and comfort for the vehicle drivers and occupants. LED light sources used in the headlights allow drivers to have a proper and better road contour view and anticipation power, thereby providing good reaction time for making decisions. This opportunity is predicted to pitch over the period leading to a huge opportunity for the automotive lighting players.
The automotive lighting market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, MEA, and SAM. The APAC region holds the highest market share and is projected to be the fastest-growing region as well in the coming years. The dominance of the region is majorly attributed to the presence of large numbers of automotive manufacturers in Asia. South Korea, China, Japan, and India are some of the major countries which have a strong foothold in the Asian market. Emerging economies in the APAC region are considered to be developing economies and therefore attracting investment from the regulatory bodies to further nurture the entire automotive industry. The APAC is expected to be the region experiencing enormous opportunities for automotive manufacturers as well as providers of automotive lightings.
The automotive lighting market by application is segmented into headlamp, rear lighting, interior lighting, CHMSL, fog lamps, and small lamps. The headlamp holds a significant share in the market, on the other hand, interior lighting is expected to be the fastest-growing application during the forecast period. The uniform and accurate beam patterns are designed according to road safety regulations for halogen headlights. Earlier, most vehicles have come with halogen powered headlights, which is now getting replace with LED as it creates a huge difference in terms of visibility at night.
Based on technology, the automotive lighting market is segmented into halogen, LED, xenon, and laser. The LED is predicted to be the fastest growing technology in the market as LEDs require low amount of power to operate, they produce high temperature on the diode. Therefore, heat control systems are required at the bottom of a LED headlight to control high temperature. The LEDs have color temperature of around 6,000K, which makes it brighter and whiter even in daylight.
The major players operating in the market for automotive lighting market are Automotive Lighting LLC, Hella GmbH & Co. KGaA, Koito Manufacturing Co., Ltd., Lumileds Holding BV, Osram Continental GmbH, SL Corporation, Stanley Electric Co. Ltd., Tungsram, Valeo SA, and Varroc Group among others.
The report segments the global automotive lighting market as follows:
Global Automotive lighting Market - By Technology
Global Automotive lighting Market - By Application
Global Automotive lighting Market - By Vehicle Type
Global Automotive lighting Market - By Geography