PUNE, India, June 26, 2017 /PRNewswire/ --
Lighting market for Automotive is projected to grow at a CAGR of
6.80%, to reach $29.97 billion by
2022. LED technology will showcase fastest growth and will lead in
future lighting market while Front Adaptive Lighting will have
largest market in automotive adaptive lighting with Asia-Oceania
region will dominate market.
Browse 119 tables and 52 figures, 11 Company profiles spread
across 241 pages available at:
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.
"Increase in vehicle production and lighting
applications to upsurge the lighting demand in automotive
industry"
The Lighting market for Automotive, by value, is projected to
grow at a CAGR of 6.80% from 2017 to 2022, to reach USD 29.97 billion by 2022. In addition to growing
vehicle demand and increasing lighting applications, factors such
as safety regulations and rising demand for comfort and luxury are
expected to fuel the demand for advanced technologies such as
adaptive lighting systems.
The major factors hindering the growth of the Lighting market
for Automotive are the high cost involved in R&D and
fluctuating prices of raw materials.
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The global Lighting market for Automotive is segmented based on
the position into front, rear, side, and interior. The front
lighting market is expected to showcase the largest market with
halogen as the predominant technology in this position. In terms of
lighting technology, the market is segmented into
Halogen/incandescent, Xenon/HID, and LED.
Target Audience for Lighting Industry Research Report
will be:
- Manufacturers of automotive lighting systems
- Lighting component suppliers
- Dealers and distributors of automotive lighting systems
- Original equipment manufacturers
- Industry associations, investment firms, equity research firms,
and private equity firms
"LED technology is estimated to showcase fastest
growth and is expected to lead in future lighting
market"
The market for front LED technology, by value, is projected to
grow at the highest CAGR during the forecast period from 2017 to
2022. This growth can be attributed to the benefits offered by LED
technology, such as energy efficiency, low power consumption,
lightweight, and flexibility. These benefits help to minimize the
design constraints as compared to halogen lamps. The technology is
estimated to lead the front lighting segment with applications such
as Daytime Running Lamp (DRL), and projector headlamps as well as
interior lighting segment where its applications are dashboard,
glove box, reading, dome, and rear view mirror lights.
"Front Adaptive Lighting to have the largest market in
automotive adaptive lighting"
The front adaptive lighting market is expected to be the largest
and fastest growing segment in the Lighting market for Automotive,
by adaptive lighting. This growth can be attributed to stringent
safety regulations in Europe and
increased adoption of adaptive lighting features in premium cars in
the Asia-Oceania region.
"Asia-Oceania region to dominate the market
growth"
China and India together contribute 35% of the global
vehicle production and approximately 34% of the global passenger
car production. Due to this Asia-Oceania is estimated to dominate
the Lighting market for Automotive, by value. It is projected to
grow at the highest CAGR of 7.02% during the forecast period. This
can be attributed to emerging economies such as China and India. In Asia-Oceania, the growth of
automotive lighting solutions has been observed owing to the easy
availability of raw materials and strong government support, which
have boosted vehicle production and the overall lighting
market.
The study contains insights provided by various industry
experts. The break-up of the primaries is as follows: By
Company Type- Tier-1 - 60%, OEM 20%, and Tier 2 - 20%, By
Designation- C level - 25%, Manager level - 60%, and Others - 15%,
By Region- Europe - 20%,
Asia-Oceania - 50%, North America
- 30%
The major companies in the automotive lighting industry are
profiled in the study. These includeHella KGaAHueck & Co
(Germany), Magneti Marelli S.p.A
(Italy), Stanley Electric K.K
(Japan), Valeo S.A. (France), Koito Manufacturing Co. Ltd.
(Japan), OSRAM Licht AG
(Germany), Koninklijke Philips N.V
(Netherlands), Hyundai Mobis
(South Korea), Ichikoh Industries
Ltd. (Japan), and General Electric
(U.S).
Order a copy of Lighting Market for ICE & EVs By Technology
(Halogen, LED, Xenon), Position (Front, Side, Rear, Interior),
Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard,
Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting &
Region - Forecast to 2022 Research Report at:
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Research Coverage of Lighting market for Automotive
Industry:
The global Lighting market for Automotive is segmented based on
the position (front, rear, side, and interior). The lighting used
in these positions are categorized on the basis of technologies
that have been deployed (Halogen/incandescent, Xenon/HID, and LED).
The Lighting market for Automotive is also segmented based on the
application-exterior (headlight, fog lights, DRL, taillights,
CHMSL, sidelights, and others) and interior (dashboard, glove box,
reading lights, dome lights, rear view mirror lights); and based on
vehicle type-ICE vehicles and alternate fuel vehicles. The adaptive
lighting market is covered along with the alternate fuel vehicle
market.
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