Automotive Lighting Market Facing Tremendous Demands from Emerging Passenger Cars Vertical
The traffic fatality rate is on an upswing, and a lot of that is endorsed to the rising pedestrian deaths. Innovations in automotive lightings is an imperative factor playing an important role for the safety of driver as well as pedestrians. Investment in the automotive lighting segments are increasing and was observed to reflect its global market size at $23.8 billion as of 2018. As per the IndustryARC market research report, the automotive lighting market is flourishing with the compound annual growth rate (CAGR) of 6.50% through the forecast period of 2019 to 2025.
The report is
Lighting Market: By Vehicle Type (Passenger Cars, Heavy Commercial Vehicles,
Light Commercial Vehicles, Two wheelers), By Technology (LED, Xenon, Halogen),
By Integration (Interior, Exterior), By Geography Forecast (2019-2025).” The report presents a
thorough whereabouts of the competitive landscape, trends, drivers, and
challenges. Additionally, the study also incorporates the key market
participants with necessary business insights.
Global Automotive Lighting Market: Leading Segments
Considering the applications, the passenger cars vertical is the fastest growing one in the automotive lighting market. The demands in the passenger vehicles are increasing at a considerate pace owing to the increasing disposable income and changing lifestyle of the urban populous. The mind-set of people has changed from cars-as-a-luxury to cars-as-a-need, this is the most important aspect in the passenger cars growth which observed the application CAGR to be growing at 5.20% through to 2025. Moreover, increasing business opportunities in the car-rentals industry is propelling the uptake of passenger cars vehicles.
By region, North
America is leading the pack in the global automotive lighting market. The
region is calculated to grab 33.50% of the total automotive lighting market
share. This hefty share is accredited to the presence of dominating key players
in the region accustomed with premium car segment. Additionally, the ballooning
automotive industry accumulated with the emerging electric vehicle segment is
accounted for the extensible growth in the global automotive lightings market.
Global Automotive Lighting Market Analysis
Automotive lighting systems including side lighting, rear lighting, interior lighting, and front lighting/headlamps are paramount for passenger cars, commercial vehicles, and two-wheelers. The application of these lights are not limited to night driving only but also they are essential in conditions such as rain, fog, dust or snow. According to the National Safety Council , medically consulted injuries due to automotive incidents totalled 4.6 million in 2017, and the aggregated injury costs were assessed at $433.8 billion in the same year. As per an article from the RAC Motoring Services , 58% of the motorists on the U.K. road think that brightness emitted by new age headlights is not appropriate and is accountable for putting the drivers at risk of collision. Although, the lighting industry is growing in the automotive sector but the industry is still looking for efficient, productive, and most importantly much safer lighting solutions in the automotive lighting market.
Global Automotive Lighting Market Trends
of the mid-range and premium car manufacturers are installing adaptive battery lighting
technology. While steering the car in corners and curves, these active lights
pivot in the direction of traffic providing a better sight to the driver. These
headlights are adjusted on vehicles speed and steering wheel movement to
illuminate the road ahead. This increases the illumination of the road for the
driver and simultaneously enhances safety due to incoming traffic.
from oncoming vehicle’s high beam headlights causes distraction, stress, and
temporary blindness. This is evidently hazardous and can contribute to hundreds
of fatal night crashes. Niche companies are coming up with solutions that
disable light rays directed towards driver that can significantly improve the
vehicle’s headlight performance at night.
light is a commendable innovation in the automotive lighting technology after
the introduction of xenon, LED, and halogen lighting system. Laser lights
provide a luminous long ranged headlight for the cars taking much less space
accompanied with high efficiency. The brightness these lights produce is almost
four times than that of an LED. The automotive light market will witness an
innovative and uncompromising lighting solution.
Global Automotive Lighting Market: Competitive Landscape
Some of the key players mentioned in the report that are currently leading the automotive lighting market are Koninklijke Philips N.V., Stanley Electric Co., Ltd. , Hyundai Mobis, Valeo S.A., Osram GmbH., Hella KGaA Hueck & Co., Ichikoh Industries, Ltd., Magneti Marelli, General Electric Company, Koito Manufacturing Co., Ltd.
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What can you expect from the report?
The global automotive lighting market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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