Jul 8 2014
Research and Markets has announced the addition of the "Global Automotive LED Lighting Market 2014-2018" report to their offering.
The Global Automotive LED Lighting market will grow at a CAGR of 27.86% to 2018.
The key trend driving the Global Automotive LED Lighting market is the increased use of LED headlamps. LED headlamps increase occupant safety, as they are powerful and provide constant high light quality, which allows for illumination at longer distances. LED headlamps also reduce energy consumption and improve the aesthetic appeal of vehicles. They take less time to illuminate compared with conventional lights. They have a lifespan of over 25,000 hours, which is much higher than conventional lights. Hence, they are beneficial for drivers during emergencies as they provide improved security.
According to the report, the Global Automotive LED Lighting market is driven by several factors, including the rising demand for Premium segment vehicles. With LED lighting, vehicle manufacturers can explore new possibilities in distinguishing between various makes and models. Vehicle production is expected to be high in countries in the APAC region.
Further, the report states that the high cost of the raw materials used in automotive LED lighting is a major concern for automotive LED lighting manufacturers. Rising input costs leads to increased operational costs. Rising competition among vendors has also led to competitive pricing, leading to reduced profitability.
The Global Automotive LED Lighting market can be categorized into two segments:
- Exterior LED Lighting
- Interior LED Lighting
The Automotive Exterior LED Lighting segment can be further categorized into the following sub-segments:
- Headlamp
- Rear Lamp
- Fog Lamp
- Side Lamp.
Key Vendors
- Hella Kgaa Hueck & Co.
- Koito Manufacturing Co. Ltd.
- Magneti MareIli S.p.A.
- Valeo SA
For more information visit http://www.researchandmarkets.com/research/53xh4c/global_automotive