The automotive led lighting market is growing in the faster pace. High investments in lesser CO2 emission from vehicle is driving the market. The numerous advantages of LED is driving the growth of the market.
The Automotive LED Lighting Market has several benefits like small, solid light bulbs which are extremely energy efficient and long lasting. The adaptive lighting is also one of the main driver of automotive led lighting market system.
According to Market Research Future Analysis, Global automotive LED lighting market has been valued at approximately USD 20 Billion by the end of forecast period with approx. 9% of CAGR during forecast period 2016 to 2022.
The prominent players in the automotive LED lighting market are Osram Licht AG (Germany), Magneti Marelli S.P.A (Italy), Koito Manufacturing Co.Ltd (Japan), Stanley Electric Co.Ltd (Japan), Mercedes-Benz (Germany), Koninklijke Philips N.V. (Netherlands), Hyundai Group (South Korea), Toyota Motor Corporation (Japan), Tata Motors Limited (India), Zizala Lichtsysteme GmbH (Austria), among others.
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By vehicle type segment, automotive led lighting market consists of passenger car, light commercial vehicle (LCV) and heavy commercial vehicle (HCV). LED implementation in heavy commercial vehicle is estimated to be highest in North America. The heavy truck lights cause many environments hazardous such as road spray, high-pressure washdowns, and corrosive chemicals. The LED implementation in this heavy vehicle will overcome all the above problems. The LED application in truck is also growing because of lower power demand.
By Region, MRFR analysis shows that North America region will account for largest market for in automotive led lighting market the coming years. This region has very high adoption of internet of things and developments towards smart cities. North America region followed by Europe and Asia-Pacific region would grow progressively in the automotive LED lighting market. The high adoption of LED lights revolutionize automotive infrastructure and lesser CO2 emission by vehicles imposed by government.
For the purpose of this study, the global automotive led lighting market has been segmented on the basis of position, vehicle type and adaptive lighting. The report on automotive led lighting market contains detailed analysis with market size of each segment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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