Publication Month: Feb 2020 | Report Code: TIPRE00005243 | No. of Pages: 168 | Category: Automotive and Transportation | Status: Published
Vehicle lighting systems are gaining high traction worldwide. The car manufacturers need to ensure that their products, and ultimately the car parts, comply with various regulations to meet the international standards, which ensures the safety of drivers and passengers. ECE R98/99 for the headlamps with gas-discharge lamps, ECE R112 for the headlamps with asymmetric low beam, 76/761/EEC and ECE R1 and R2 for headlamps with high and low beam bulbs are among the standards set for automotive lightings. Such stringent regulatory environment regarding lightings is increasing consumer confidence in vehicles manufacturers, which is boosting their vehicle sales, thus fueling the automotive market growth
Based on application, the automotive lighting market is segmented into headlamp, rear lighting, interior lighting, CHMSL, fog lamps, and small lamps. An efficient lighting system enhances driver safety and offers an aesthetic car look. The automotive lighting providers’ offers range of lights which are ideal for side, front, and signaling applications. In automotive, varied types of the headlight are fixed such as projector headlights, factory headlights, sealed beam headlights, switchback headlights, euro headlights, and more. When it comes to select ideal headlight, LED headlights are preferred more due to their 80% more efficiency, brightness & lifespan is five times more than halogen and easy installation in trucks & SUVs.
The selection of lights for vehicle headlights are done on the basis of performance, price, safety and lifespan of lights. With the adoption of automotive lights, the vehicle drivers might witness a whiter and brighter headlight on the road with reducing fame of traditional halogen headlights. The LEDs is anticipated to be the fastest growing technology in the automotive lighting market in 2018. The LEDs deliver optimum visibility and are proficient in illuminating precise areas of the road with high beam devoid of dazzling other road users or oncoming traffic.
The automotive lighting market, by vehicle type, is segmented into passenger car, LCV, and MCV & HCV. The passenger car segment captured dominating share in the global automotive lighting market. As per OICA, nearly 70 Mn units of passenger cars were produced in 2018. Passenger car segment undergo substantial technological advancements year on year, owing to changing consumer interests, emergence of new technologies, and government rules and regulation related to reduction in emission. More the procurement of passenger cars, more is the demand for automotive lighting.
|Market Size Value in||US$ 30.50 Billion in 2018|
|Market Size Value by||US$ 40.41 Billion by 2027|
|Growth rate||CAGR of 3.3% from 2019-2027|
|No. of Pages||168|
|No. of Tables||75|
|No. of Charts & Figures||74|
|Historical data available||Yes|
|Segments covered||Technology ; Application ; Vehicle Type|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Market initiative and new development strategies are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are mostly observed in Europe and APAC. The players present in the automotive lighting market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally.
The List of Companies - Automotive Lighting Market