Market Report - Automotive Lighting Market to represent US$34.65 bn Opportunity Globally by 2022

The automotive lighting market is anticipated to reach USD 34.65 billion by 2022. Strict government policies and rising safety concerns are likely to propel growth over the forecast period. In addition, growing consumer awareness concerning the significance of adaptive lighting including dynamic bend light and a glare-free high beam is also expected to have a positive impact on the exterior lighting market.
Increasing apprehensions about using energy efficient methods coupled with rising consumer disposable income are expected to drive the industry. In addition, growing demand for vehicles and technological advancements in the automotive industry are expected to propel utilization. Attractive growth opportunities for new entrants are expected in the industry owing to the growing number of total vehicles purchased y-o-y across BRIC nations. However, there is a need for legislative authorities to collaborate with light sourcing technology suppliers to develop flexible design techniques.
Automotive LED market is estimated to demonstrate considerable growth at a CAGR of over 12.0% from 2015 to 2022. Halogen lights contributed to over 66.0% of overall industry revenue in 2014, followed by LED and xenon. It has gained prominence on account of easy availability, low purchasing costs, and low replacement costs. However, rising fuel prices are expected to pose a threat to the industry.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-lighting-market

Further key findings from the report suggest:

·         The increase in demand for eco-friendly LED technologies on account of high efficiency, reduced CO2 levels, and high power, is expected to propel growth. Companies have been trying to develop eco-friendly LED to promote product differentiation and strengthen their global foothold. LEDs are used in daytime running lights (DRL), parking light, brake lights and turning lights. LEDs are preferred over xenon and halogen lights owing to optimum light bearing capacities and improved design which lead to increased shelf life. 

·         The adaptive headlight is an active safety feature that is intended to enhance the drivers’ visibility in poorly illuminated areas. It encompasses functionalities including automatic rotation which can sync with sensors and adjust brightness and intensity of light. Front lighting segment constituted for over 70.0% of the total revenue in 2014 owing to the availability of advanced features including automatic rotation which can sync with automatic brightness modules and sensor response. Extreme climatic conditions in Europe and North America is expected to trigger demand for fog lights over the forecast period. 

·         Automotive lighting industry in Asia Pacific is estimated to grow at a CAGR of over 8.0% and acquire a market share of about 45.0% over the forecast period. The continuous expansion of suppliers coupled with a vast production base is expected to position this region as the market leader. Countries including India, Japan, and China account for the major production base for vehicles globally, thus offering extensive growth opportunities. 

·         Key companies including Hella KGaA Hueck & Co., Koito Manufacturing Co., Magneti Marelli S.p.A and Valeo. Vendors usually employ the strategy of new product development and mergers & acquisitions to enter new markets. The introduction of low-cost LEDs and energy-efficient alternatives is foreseen as a cost-effective strategy for the industry.

Browse All Reports of this category @ http://www.grandviewresearch.com/industry/electronic-devices

Grand View Research has segmented the automotive lighting market on the basis of technology, application, and region:
Automotive Lighting Technology Outlook (Revenue, USD Million, 2012 – 2022)

·         Halogen

·         Xenon

·         LED

Automotive Lighting Application Outlook (Revenue, USD Million, 2012 – 2022)

·         Front/headlamps

·         Rear

·         Side

·         Interior

Automotive Lighting Regional Outlook (Revenue, USD Million, 2012 – 2022)

·         North America

·         Europe

·         Asia Pacific

·         RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:

Sherry James

Corporate Sales Specialist, U.S.A.

Grand View Research, Inc.

United States           

Phone:  1-415-349-0058

Toll Free:  1-888-202-9519

Email:  sales@grandviewresearch.com 

Website:  Grand View Research                          

Blog Site: http://www.divog.org/

New Report - Automotive Lighting Market Study To 2022: Grand View Research, Inc.

The automotive lighting market is expected to reach USD 34.65 billion by 2022, according to a new study by Grand View Research, Inc. Growing safety concerns and stringent government regulations are expected to drive demand over the next seven years. Rising awareness among consumers regarding the importance of adaptive light solutions such as glare-free high beam and dynamic bend lights is also anticipated to fuel exterior lighting demand.
Increasing vehicle production and sales combined with technological advancements are also estimated to accentuate demand over the forecast period. Rising disposable income coupled with increasing concerns for energy efficiency is estimated to fuel demand.
Growing total number of vehicles across the BRIC nations is anticipated to offer lucrative growth opportunities for the industry. However, harmonization of the legislative authorities with various light sourcing technology providers needs to be addressed in order to allow design flexibility.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-lighting-market

Further key findings from the study suggest:

• In 2014, halogen had a significant share of over 66% in terms of revenue followed by xenon and LED. It is a prominent mode of illumination in vehicles and is being used since many years due to its easy availability, low purchasing cost, and low replacement cost.
• Automotive LED market is estimated to exhibit substantial growth growing at a CAGR of over 12% from 2015 to 2022. Growing environmental concerns along with increasing fuel prices pose a major challenge for automakers. Thus, vendors are turning towards eco-friendly LED technologies owing to its high power, efficiency, and reduced CO2 emissions. These lights are finding various applications in headlights, turning lights, Daytime Running Lights (DRL), parking lights, and brake lights. Longer self-life of LEDs gives it a major advantage over halogen and xenon lights. Presently, OLED lights are introduced with improved design and optimum light bearing capacities.
• Front lighting industry accounted for over 70% of the overall revenue in 2014 and is anticipated to sustain its position by 2022. Adaptive headlights are an active safety feature designed to enhance the drivers’ visibility in low illumination conditions. These adaptive headlights comprise advanced features such as automatic rotation headlights in sync with sensor response and automatic brightness. Extreme weather conditions in North America and European regions highlight the obligatory need for fog lamps in automobiles, thus driving demand across this segment.
• Asia Pacific automotive lighting industry is expected to be the key region and is anticipated to grow at a CAGR of over 8%, reaching a share of over 45% by 2022. This region has huge production base and would continue its leading position with ongoing expansion activities of the suppliers in the region. Countries such as China, India, and Japan account for majority of the vehicle production across globe, thus offering substantial growth opportunities. Further, presence of large number of key industry players is estimated to favor consumption growth.
• Automotive lighting market share is occupied by companies such as Koito Manufacturing Co., Ltd., Valeo, Hella KGaA Hueck & Co., and Magneti Marelli S.p.A. Mergers & acquisitions along with new product development are adopted by vendors to extend their presence. Introduction of compact, energy-efficient, and low-cost LED lights is anticipated to emerge as a profitable strategy for the participants.

Browse All Reports of this category @ http://www.grandviewresearch.com/industry/electronic-devices

Grand View Research has segmented the automotive lighting market on the basis of technology, application, and region:

Automotive Lighting Technology Outlook (Revenue, USD Million, 2012 – 2022)

• Halogen
• Xenon
• LED

Automotive Lighting Application Outlook (Revenue, USD Million, 2012 – 2022)

• Front/headlamps
• Rear
• Side
• Interior

Automotive Lighting Regional Outlook (Revenue, USD Million, 2012 – 2022)

• North America
• Europe
• Asia Pacific
• RoW