Automotive LED Lighting Market Overview:
The Automotive LED Lighting Market is growing rapidly owing to its Cost efficiency and work efficiency. According to a recent study report published by the Market Research Future, The global market of Automotive LED Lighting is projected to grow at a rapid pace during the forecast period (2016 – 2022). The Market is forecasted to demonstrate a spectacular growth by 2022, the global Automotive LED Lighting market is expected to grow approximately at USD 20 Billion by 2022, approx.9% of CAGR between 2016 and 2022.
Increasing sales of lightweight vehicles worldwide, growing automobile industry, increasing LED penetration and focus on energy efficiency are factors providing impetus to the market growth of Automotive LED Lighting Market globally. On the other hand, Factors such as slow growth of vehicle sales in BRIC nations, high costs of LED, high research and development costs are projected to restrict the market growth of global Automotive LED Lighting
The Automotive Light Emitting Diode Lighting market is growing because of the low cost of the LED and efficient working of it. LEDs are small, solid light bulbs which are extremely energy efficient and long lasting. The long life of LED lamps was initially attractive, however, low brightness and high cost means, that they were generally restricted to use in dashboards.
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Major Key Players:
- 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)
Global Automotive LED Lighting Market Competitive Analysis:
Highly competitive market of the Automotive LED Lighting is totally dependent on automobile sales and is driven by the increase in automotive production. The market appears to be fragmented owing to the presence of several large and small key players accounting for a substantial market share. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain competitive advantage in this market and to maintain their market position. These players emphasis upon new product development initiatives, and geographical expansion.
The global Automotive LED Lighting market is anticipated to witness relentless innovations and development of new products eventually result in intense competition among the automotive lighting manufacturers.
Automotive LED Lighting Global Market – Segments
The Automotive LED Lighting Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Position: Comprises Front, Rear, Side, and Interior.
Segmentation by Vehicle Type: Comprises Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV).
Segmentation by Adaptive Lighting: Comprises Front Adaptive Lighting, Rear Adaptive Lighting, And Ambient Adaptive Lighting.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Global Automotive LED Lighting Market Synopsis:
The introduction of innovative technologies to enhance safety and performance along with declining component prices has increased the sales of Automotive LED Lighting products. Manufacturers are also developing premium LED lights to accessorize vehicles. Innovations in LED technology, Increase in popularity of ambient lighting and Development of laser and OLED lights are the three key trends that are contributing to the augmented growth of global Automotive LED Lighting.
Automotive LED Lighting Market Regional Analysis:
The regional analysis of Automotive LED Lighting market is being studied for regions such as Asia pacific, Americas, Europe and Rest of the World. Asia- Pacific region owing to the fast growing automotive industry in developing countries such as India, China and South Korea is expected to show a significant growth in the Automotive LED Lighting market.
Europe and North America are anticipated to dominate the LED lighting market in terms of demand. Increasing automotive production paired with adoption of energy efficient lighting source such as LED is driving the growth of automotive lighting industry in the European region. Also government enforcing to lesser CO2 emission from the vehicle is driving the LED market in that region.
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
List of Tables
Table 1 Automotive Led Lighting Market, By Position
Table 2 Automotive Led Lighting Market, By Vehicle Type
Table 3 Automotive Led Lighting Market, By Adaptive Lighting
List of Figures
Figure 1 Research Network Solution
Figure 2 Automotive Led Lighting: By Position (%)
Figure 3 Automotive Led Lighting: By Vehicle Type (%)
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