Uploaded on Sep 15, 2020
Automotive Lighting Market for ICE & EV by Technology (Halogen, LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting and Region - Global Forecast to 2025
Automotive Lighting Market worth $34.9 billion in 2025
MarketsandMarkets Presents Automotive Lighting Market worth $34.9 billion in 2025 https://www.marketsandmarkets.com/Market-Reports/automotive-lig hting-market-1133.html "Automotive Lighting Market for ICE & EV by Technology (Halogen, LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting and Region - Global Forecast to 2025", size is estimated to be USD 27.0 billion in 2020 to USD 34.9 billion in 2025, at a CAGR of 5.3%. Rising disposable income has resulted in an increase in consumer spending capability to purchase premium vehicles, which, in turn, is expected to drive the growth of the market. Government initiatives for implementing adaptive lighting to increase the driver’s safety is another key factor anticipated to fuel market growth. Browse 393 market data Tables and 69 Figures spread through 302 Pages and in-depth TOC on "Automotive Lighting Market” Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1133 Key Players: Hella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Koito (Japan), Denso (Japan), North American Lighting (US), Renesas (Japan), Lumax (India), Aptiv (Netherlands), Grupo Antolin (Spain), Lear Corporation (US), Keboda (China), NXP (Netherlands), Gentex (US), FlexNGate (US), and Federal-Mogul (US). Passenger Car segment expected to be the largest segment for the automotive lighting market Passenger cars are expected to be the largest segment for the automotive lighting market on account of the rapid adoption of advanced lighting systems. Moreover, increasing sales of premium vehicles with pre-installed adaptive headlights, adaptive taillights, and ambient lights are expected to augment the growth of the segment further. Additionally, visual appeal is considered as a premium feature, and lighting is one of the vital parameters that add value to the visual appeal of the vehicle. Historically, vehicle production declined from 2017 to 2019, which also impacted the automotive lighting market. Due to the COVID-19 pandemic, the production & sale of vehicles have witnessed a major decline and are expected to see a 20% decline in 2020 (MarketsandMarkets analysis). Thus, the automotive lighting market could register a further decline in 2020. The LED technology is expected to be the fastest-growing segment The LED technology is expected to grow at the fastest rate as this offers a better package in terms of adaptive technology. Moreover, LED consumes less power in comparison to other technologies such as halogen and xenon. LED headlights also offer better visibility to the driver and reduce the illumination effect on the eyes of the driver in the opposite direction. Asia Pacific to continue being the largest consumer of the automotive lighting market China was the largest manufacturer and consumer of the automotive lighting due to the presence of a robust automobile production base and huge domestic sales of cars. Other Asian countries such as Japan, Korea, and India showcased promising growth during 2017 and 2018, and this trend is likely to continue till 2025. Asia Pacific is one of the main production bases for several European and North American automotive lighting manufacturers. Thus, the growing global sales of automobiles are expected to drive the growth of the automotive lighting industry. However, the Asia Pacific automotive industry has faced major challenges due to the COVID-19 pandemic. For instance, the production activities of major OEMs, like General Motors, Honda, Nissan, Peugeot, and Renault, have been disrupted, thereby impacting the automotive lighting market as well. For instance, two-thirds of automotive production has been directly affected by China’s industrial lockdown, impacting the suppliers of lighting system components as well. Additionally, the shortage of Chinese-made parts has impacted global production. Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1133 Recent Developments: • In June 2019, Hella offered an integrated solution for complex lighting systems. The company’s two business divisions, Lighting and Electronics, have been working closely to combine their product technologies into a flexible and modular product system. Headlight modules, electric control units, and sensors can be assembled according to the modular principle. • In April 2019, Hella signed a strategic cooperation agreement with Wuling Automotive Industry, which belongs to the Chinese Guangxi Automobile Group. Both partners intended to work together on automotive lighting technologies for the Chinese market, with a focus on the development of headlamps for the volume segment. • In January 2019, Hella launched Shapeline lamps, work lights, auxiliary lamps, warning lights, and accessories. The company equipped a show truck with lighting solutions that were developed for trucks and trailers. • In November 2018, Hella and Faurecia entered into a strategic collaboration to partner on interior lighting solutions for the cockpit. Both companies jointly developed lighting solutions in the domain of surface- lighting and dynamic-lighting for a personalized cockpit environment. Faurecia contributed its expertise as a complete system integrator for vehicle interiors, while Hella supplied innovative products in the field of interior lighting. Don’t miss out on business opportunities in Automotive Lighting Mar ket. Speak to our analyst and gain crucial industry insights that will help your business grow. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". 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