Press release
Automotive Lighting Market Position & Application, Technology (Halogen, LED, Xenon/HID), & Region
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.
Significant increases in the demand for new car sales and a considerable amount of usage of advanced lighting are surging the demand for automotive lighting in the market. With a soaring per capita income with a high purchasing parity, consumers can invest in advanced lighting features like adaptive lighting, thus, driving the market growth in the upcoming years.
Advancements in the LED headlight technologies and regulations on the headlights by various governing agencies such as NHTSA (The National Highway Traffic Safety Administration) has resulted in the growth of LED light technology in the market. Advancements in the adaptive headlights, including automatic on/off, auto high beam, cornering lights, and headlight levelling are enhancing the customer experience.
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).
Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1133
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.
The automotive lighting market for the passenger car segment is estimated to be the largest
The penetration of advanced lighting in the passenger vehicle segment is higher in comparison to other vehicles, including LCVs, buses, and trucks. The rising sales of passenger vehicles, coupled with the willingness of consumers to pay more for cars, are expected to drive the automotive lighting market in this segment. The year-on-year production growth is likely to propel the growth of the segment over the forecast period.
The Asia Pacific to continue being the largest consumer of the automotive lighting market
China was the largest manufacturer and consumer of 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.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1133
Recent Developments:
1. In January 2022, HELLA launched the new Black Magic LED series on the European market. Its dustproof and waterproof housing and robust construction are specially designed for off-road applications. Depending on the variant they provide outstanding off-road illumination with up to 15,000 lumens. A specially developed reflector ensures a homogeneous illumination. In addition, the integrated, intelligent thermal management system ensures adaptation to the ambient temperature and thus always provides an optimal light output and a longer lifetime of the LEDs. The Black Magic LED series are available as floodlight or spotlight versions and can be mounted vertically or in a suspended manner or they can be integrated into the bodywork or bumper.
2. In December 2021, Bosch’s launched new 4W (four-wheeler) lighting bulbs the Gigalight 120, 150, the Sportec Bright 4000K and the LED Retrofit ideal for almost any vehicle. The Bosch Bulbs Gigalight 120, 150, the Sportec Bright 4000K and the LED Retrofit provide motorists with the luminosity they need to vividly see road signs or obstacles ahead, under any weather circumstances.
3. 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.
4. 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.
5. 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.
View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-lighting-market-1133.html
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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 7500 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". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Significant increases in the demand for new car sales and a considerable amount of usage of advanced lighting are surging the demand for automotive lighting in the market. With a soaring per capita income with a high purchasing parity, consumers can invest in advanced lighting features like adaptive lighting, thus, driving the market growth in the upcoming years.
Advancements in the LED headlight technologies and regulations on the headlights by various governing agencies such as NHTSA (The National Highway Traffic Safety Administration) has resulted in the growth of LED light technology in the market. Advancements in the adaptive headlights, including automatic on/off, auto high beam, cornering lights, and headlight levelling are enhancing the customer experience.
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).
Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1133
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.
The automotive lighting market for the passenger car segment is estimated to be the largest
The penetration of advanced lighting in the passenger vehicle segment is higher in comparison to other vehicles, including LCVs, buses, and trucks. The rising sales of passenger vehicles, coupled with the willingness of consumers to pay more for cars, are expected to drive the automotive lighting market in this segment. The year-on-year production growth is likely to propel the growth of the segment over the forecast period.
The Asia Pacific to continue being the largest consumer of the automotive lighting market
China was the largest manufacturer and consumer of 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.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1133
Recent Developments:
1. In January 2022, HELLA launched the new Black Magic LED series on the European market. Its dustproof and waterproof housing and robust construction are specially designed for off-road applications. Depending on the variant they provide outstanding off-road illumination with up to 15,000 lumens. A specially developed reflector ensures a homogeneous illumination. In addition, the integrated, intelligent thermal management system ensures adaptation to the ambient temperature and thus always provides an optimal light output and a longer lifetime of the LEDs. The Black Magic LED series are available as floodlight or spotlight versions and can be mounted vertically or in a suspended manner or they can be integrated into the bodywork or bumper.
2. In December 2021, Bosch’s launched new 4W (four-wheeler) lighting bulbs the Gigalight 120, 150, the Sportec Bright 4000K and the LED Retrofit ideal for almost any vehicle. The Bosch Bulbs Gigalight 120, 150, the Sportec Bright 4000K and the LED Retrofit provide motorists with the luminosity they need to vividly see road signs or obstacles ahead, under any weather circumstances.
3. 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.
4. 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.
5. 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.
View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-lighting-market-1133.html
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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 7500 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". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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