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(CityRegions.Com, October 19, 2020 ) New York -- The increase in demand for premium vehicles and advanced safety measures adopted by several governments have driven the Automotive Lighting Market. In addition, the electrification of vehicles has changed the entire control system as well as lighting systems incorporated in automobiles today. Similarly, increased demand for high-end luxury vehicles and growing concerns regarding the safety of vehicle occupants have led to an increase in the demand for better illumination, thereby driving the demand for an advanced adaptive lighting system.
The global automotive lighting market is estimated to be $27.0 billion in 2020 to $34.9 billion in 2025, at a CAGR of 5.3% during the forecast period.
Opportunity: Evolution of new technologies
Matrix LED, OLED, and laser lighting are some of the new and promising technologies for automotive lighting manufacturers. In matrix LED headlights, the high-beam unit is made up of 25 individual segments. The small LEDs work in conjunction with lenses, and reflectors connected in series are activated and deactivated or dimmed individually according to the situation. This enables the system to react precisely to other cars. It recognizes other cars using a camera and illuminates the road brightly. For instance, Audi’s Matrix LED headlights get the information they need from a camera, the navigation system, and other sensors.
The key players automotive lighting market are 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), Federal-Mogul (US), Stanley Electric (Japan), Ichikoh (Japan), and Zizala (Austria).
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The 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. The 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.
LED light technology is estimated to grow at the fastest CAGR during the forecast period
Premium vehicles are typically installed with LED lights due to their numerous benefits such as low power consumption, more adaptive features, and high aesthetic value. Moreover, LED headlights have less impact on the driver who is on the opposite side in comparison to xenon lights, and hence, this technology is accepted widely in the market. An increasing number of newly manufactured vehicles installed with LED lighting systems is expected to drive the growth of the segment.
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Key Benefits of Buying the Report:
This report provides insights with reference to the following points:
Market Size, by product type technology: The report offers in-depth market sizing and forecast up to 2025, in terms of value, by headlight technology (halogen, LED, and xenon).
Market Size, by application: The report offers in-depth market sizing and forecast up to 2025 in terms of value, by application of automotive lighting market (Headlight, Fog light, Day Time Running Light (DRL), Taillight, Sidelight, Dashboard Light, Glove Box, Reading Light, Center High-Mount Stop Light (CHMSL), Dome Light).
Market Size, by adaptive lighting: The report offers in-depth market sizing and forecast up to 2025 in terms of value, by adaptive lighting (Front adaptive lighting (Auto on/off, bending/curve/cornering, high beam assist, headlight leveling), rear adaptive lighting, ambient lighting)
The report provides “competitive leadership mapping” that profiles key players as visionary leaders, innovators, dynamic differentiators, and emerging companies.
The report also provides the “Revenue Impact” section that helps the Automotive Lighting manufacturers to understand the key impacting factors for the Automotive Lighting market.
Market Development: The report provides comprehensive information about lucrative emerging markets for the Automotive Lighting market across regions.
Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the Automotive Lighting market.
Mr. Aashish Mehra