Automotive Lighting Industry is segmented by Technology (Halogen, LED, and Xenon), by Vehicle Type (Passenger Car, Light Commercial Vehicle & Heavy Commercial Vehicle), by Application (Front Lights, Side Lights, Rear Lights and Interior Lights) and by End Market (OEM & Aftermarket) and by Region.
Automotive Lighting Market Key Players Analysed In Report Are:
Magneti Marelli (Italy), Philips Lighting NV (Netherlands), Ichikoh Industries Ltd (Japan), HELLA KGaA Hueck & Co (Germany), KOITO Manufacturing Co., Ltd. (Japan), ZKW Lichtsysteme GmbH (Wieselburg), Peterson Manufacturing company (U.S.), Osram GmbH (Germany), Stanley Electric Co. Ltd (Japan), and General Electric (U.S.).
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Global Automotive Lighting Market – Overview
Lighting is a significant component in automobiles. It plays an important role in safety factor. It is mainly used in automobiles to increase the visibility in darkness & in bad weather conditions. It also increases the conspicuity of the vehicle. The automotive lighting market is witnessed a significant growth with the rise in the demand for automotive vehicles. The demand of automotive vehicle is increasing because of rising disposable income of middle class population and changing life style. Middle class people can also afford vehicles these days and due to change in life style, they are inclined towards purchase of their own cars which lead the market of automotive vehicles as well as lighting.
Furthermore, the fact such as effective lighting systems enabling a safe driving experience, there are several government regulations of safe driving which triggers the growth of the automotive lighting market. The increase in sales of new vehicles has been fuelling the growth of automotive lighting market. The increase in the sales of new vehicles has primarily been because of competitive and diverse options available for finance. The increase in urbanization lead growing use of passenger and commercial vehicles, due to which there will be growth in automotive lighting market. China is one of the most densely populated urban centre. The automotive market of China has experienced increased growth, which will drive the automotive technology. However, high cost of lighting product is a restraint for the automotive lighting market.
Global automotive lighting market has been segmented into technology, vehicle type, end market, and application. On the basis of technology, it is segmented as halogen, xenon, and LED. On the basis of vehicle type, it is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. While it is segmented as OEM and aftermarket on the basis of End Market. On the basis of application, the market has been segmented into Front Lights, Rear Lights, Side Lights and Interior Lights.
Global Automotive Lighting Market – Competitive Analysis
Automotive Lighting Market industry has seen significant growth in last few years due to its demand from income groups across the economies, and supportive government regulations on vehicle safety. The market is expected to show similar growth in coming time due to several technological advancement along with growing awareness about safety.
In June, 2017, Magneti Marelli has recently inaugurated a new automotive lighting plant in Changchun City, China. This plant is wholly dedicated to the production of lighting technology due to the growing demand for LED systems from major automotive manufacturers such as FAW-Volkswagen BMW, and other OEMs. The annual production capacity forecast for 2019 is about 1 million headlights and 500.000 rear lights.
Ichikoh Industries Ltd. Is decided to invest 16.4 billion yen to set up a new automobile lamp factory in Kanagawa. This new automobile lamp factory will start operation in July 2019.
LG Electronics (LG) has approved the acquisition of automotive lighting and headlight systems provider ZKW Group. This deal has been done in more than EUR1.1billion. Under the terms of the transaction, LG Electronics will acquire a 70% stake in ZKW Group with parent company LG Corp. purchasing the remaining 30%. The strategic merger is expected to result in synergies that allow the combined companies to lead the global lighting sector in autonomous vehicle components.
Global Automotive Lighting Market – Segments
Global Automotive Lighting Market is segmented in to 5 Key dynamics for an easy grasp and enhanced understanding.
- Segmentation By Technology: Comprises – Halogen, Xenon, and LED
- Segmentation By Vehicle Type: Comprises – Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle
- Segmentation By Application: Comprises – Front Lights, Rear Lights, Side Lights, and Interior Lights
- Segmentation By End Market: Comprises – OEM and Aftermarket
- Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Automotive Lighting Market – Regional Analysis
The global automotive lighting market by region has been segmented into North America, Europe, Asia-Pacific and Rest of the world. This market has seen a substantial growth over the past few years and it has been experienced that the market will remain on the same growth level till forecast period. Among all of the regions, Asia-Pacific has accounted the largest market for automotive lighting market followed by North America and Europe. This region is also expected to experience the fastest growth during the forecast period due to the positive economic growth of China and India. The disposable income of consumers in developing countries such as China, India, and Japan is growing high. As a result of increasing prosperity in the emerging economies, more and more people are able to afford their own car which lead the market of automotive lighting market in Asia Pacific.
North America is the second leading market of automotive lighting market and estimated to grow at the significant rate during the forecast period. North America has observed increased investment in the R&D for automotive lighting. Rising demand for passenger cars is the factor which has augmented the market of automotive lighting in North America.
List of Tables:
TABLE 1 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION)
TABLE 2 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY VEHICLE TYPE, 2015-2023 (USD MILLION)
TABLE 3 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY APPLICATION, 2015-2023 (USD MILLION)
TABLE 4 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY END MARKET, 2015-2023 (USD MILLION)
TABLE 5 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY REGION, 2015-2023 (USD MILLION)
TABLE 6 NORTH AMERICA AUTOMOTIVE LIGHTING MARKET, BY COUNTRY 2015-2023 (USD MILLION)
TABLE 7 NORTH AMERICA AUTOMOTIVE LIGHTING MARKET, BY TECHNOLOGY 2015-2023 (USD MILLION)
TABLE 8 NORTH AMERICA AUTOMOTIVE LIGHTING MARKET, BY VEHICLE TYPE 2015-2023 (USD MILLION)
TABLE 9 NORTH AMERICA AUTOMOTIVE LIGHTING MARKET, BY APPLICATION 2015-2023 (USD MILLION)
TABLE 10 NORTH AMERICA AUTOMOTIVE LIGHTING MARKET, BY END MARKET 2015-2023 (USD MILLION)
TABLE 11 US AUTOMOTIVE LIGHTING MARKET, BY TECHNOLOGY 2015-2023 (USD MILLION)
TABLE 12 US AUTOMOTIVE LIGHTING MARKET, BY VEHICLE TYPE 2015-2023 (USD MILLION)
TABLE 13 US AUTOMOTIVE LIGHTING MARKET, BY APPLICATION 2015-2023 (USD MILLION).
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