Posted in | News | Lighting

Trends & Forecast Report on Global Automotive Lighting Market

Reviewed

Jun 26 2014

Research and Markets has announced the addition of the "Automotive Lighting Market: By Position (Front, Rear, Side, & Interior), Technology (Halogen, Xenon/HID, & LED), Vehicle Type, & Geography - Global Trends & Forecast To 2020" report to their offering.

The automotive lighting market is projected to grow at a CAGR of 7.70% to reach $33.22 billion in 2020

Major factors responsible for the growth of automotive lighting market include the increasing concern towards road safety, lighting legislations setup by respective governments, and higher efficiency of LED automotive lighting technology. Also, the increasing purchasing power of consumers has given rise to the demand for advanced and sophisticated technologies such advanced front lighting system (AFS) and daylight running lights (DRLs). Increasing vehicle production in the BRIC nations would serve as a potential market for automotive lighting in the coming years. The key concerns in the industry pertain to the high cost of LED lighting technology and the high R&D costs involved in developing such advanced technologies.

The report classifies and defines the revenue for automotive lighting industry. It covers qualitative data about the lighting technologies used in vehicles. The report also provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key burning issues in the automotive lighting market. Key players in the industry are profiled in detail with their recent developments. Some of these include Koito (Japan), Valeo (France), Hella (Germany), Magneti Marelli (Italy), and Stanley Electric (japan).

In the recent years, there has been an increased awareness among the people about safety. Strict automotive regulations, low energy consumption of LEDs, and high consumer purchasing power has increased the importance and level of sophistication of automotive lighting equipment. Also, increasing vehicle production, mainly in the BRICS countries, have boosted the consumption of automotive lighting equipment.

The report covers halogen, Xenon/HID, and LED automotive lighting technologies. Due to low investment and easy availability, halogen technology is the most prevalent in vehicles across all segments. In addition, LED and Xenon technologies are much more expensive than halogen. Hence, the demand for halogen technology is highest, mainly in the developing regions of the world. However, the advancement in low cost LED lighting technologies is expected to decrease the demand for halogen in the next seven years.

SCOPE OF THE REPORT

The global automotive lighting market is analyzed in terms of revenue ($million) for the aforesaid technologies, positions, and vehicle types by regions and respective major countries.

By Position