Automotive Lighting Market
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<strong>Automotive</strong> <strong>Lighting</strong> <strong>Market</strong> for LED technology<br />
segment will witness gains 7% to 2024: Global<br />
<strong>Market</strong> Insights, Inc.<br />
Global <strong>Market</strong> Insights added Most up-to-date research on “<strong>Automotive</strong> <strong>Lighting</strong><br />
<strong>Market</strong>: Global Industry Share, Trends and Forecast, 2018 – 2024″ to its huge<br />
collection of research reports.<br />
This Research study on the Global <strong>Automotive</strong> <strong>Lighting</strong> <strong>Market</strong> offers detailed and<br />
insightful information on major regional markets and related sub-markets.<br />
The automotive lighting market is driven by the development of lighting solutions by<br />
various manufacturers such as adaptive front & rear lighting and dynamic bend<br />
lighting systems. Increasing demand from OEMs for advanced LEDs and laserbased<br />
light modules to improve the vehicle safety parameters and providing<br />
aesthetic looks to the vehicles further contribute to the industry demand. The<br />
popularity of the intelligent lighting technologies in the commercial vehicles, such as<br />
situation based light control and driver assistance at night, creates several growth<br />
opportunities in the automotive lighting market. Factors such as rising purchasing<br />
power and improving consumer lifestyle across various regions are contributing to<br />
the increasing sales of luxury vehicles and passenger cars.<br />
Increased automotive production and a high demand for passenger vehicles create<br />
growth opportunities for the automotive lighting market. With the growing demand for<br />
automobiles across the globe, the utilization of automotive lighting products has<br />
increased rapidly. The global automotive industry identifies the need for intelligent &<br />
green lighting solutions. Additionally, government programs and initiatives to reduce<br />
the number of road accidents and improve the driving experience are anticipated to<br />
provide an impetus to the automotive lighting market. For instance, the National<br />
Road Safety Policy in India has initiated several measures including raising road<br />
safety awareness, launching an information database.<br />
LED lighting technologies are witnessing a high popularity in the automotive industry<br />
due to the rising implementation of vehicle lighting systems. LEDs offer several<br />
benefits such as performance & energy efficiency, bright lights, and low power<br />
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consumption. Major users of the LED-based automotive lighting market products are<br />
global automotive OEMs including Audi, BMW, Honda Motor Company, General<br />
Motors, Tata Motors, etc. However, high tariff and trade restrictions in several<br />
countries will hamper the automotive lighting market growth. These restrictions limit<br />
the sales of lighting and other automotive systems to different countries. In addition,<br />
fluctuations in the raw materials and component prices due to changing supplier<br />
conditions will hinder the product development.<br />
In the automotive lighting market, the passenger cars segment is anticipated to grow<br />
at 6% CAGR from 2018 to 2024. A high demand for passenger cars across the globe<br />
is compelling the increasing consumption of lighting products. An increased focus on<br />
enhancing the vehicle aesthetics and looks by automobile companies demands<br />
advanced and high-quality lighting systems. The commercial vehicles in the market<br />
are witnessing steady growth due to the implementation of enhanced lighting<br />
products. These vehicles require highly efficient lighting components to offer a longer<br />
life and quick response in emergency situations. The demand for commercial<br />
vehicles is on the rise due to the growth in trade & transportation business and<br />
government infrastructure development projects.<br />
3 <strong>Automotive</strong> <strong>Lighting</strong> Industry Insights<br />
3.1 Industry segmentation<br />
3.2 Industry landscape<br />
3.3 Industry ecosystem analysis<br />
3.3.1 Distribution channel analysis<br />
3.3.2 Vendor matrix<br />
3.4 Regulatory Landscape<br />
3.4.1 North America<br />
3.4.1.1 SAE J3069<br />
3.4.1.2 SAE J2938<br />
3.4.1.3 Federal Motor Vehicle Safety Standard 108<br />
3.4.2 Europe<br />
3.4.2.1 Economic Commission for Europe (ECE) Regulations<br />
3.4.2.2 Commission Directive 91/663/EEC<br />
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3.4.2.3 Eco-innovations and Law (EC) No. 443/2009<br />
3.4.3 Asia Pacific<br />
3.4.3.1 Chinese GB Standards<br />
3.4.3.2 Installation requirements of lighting and light-signaling devices<br />
3.4.3.3 Australian Design rule 13/00<br />
3.4.4 Latin America<br />
3.4.4.1 INMETRO testing and certification for LED lamps<br />
3.4.4.2 New Mexico State statute 66.1-4.1(F)<br />
3.4.5 MEA<br />
3.4.5.1 The National Traffic Act South Africa<br />
3.4.5.2 Article NO 95, Federal Traffic Act<br />
3.5 Industry impact forces<br />
3.5.1 Growth drivers<br />
3.5.1.1 Increasing concerns regarding road safety to propel global demand<br />
3.5.1.2 Emerging government regulations<br />
3.5.1.3 Flourishing automotive industry in China<br />
3.5.1.4 Premium car production in Germany<br />
3.5.1.5 Penetration of LED technology from high-end to mid-range and low-end<br />
vehicles in the U.S<br />
3.5.1.6 Focus of companies on the Asia Pacific region to boost demand<br />
3.5.2 Industry pitfalls and challenges<br />
3.5.2.1 Tariff and trade restrictions in the U.S.<br />
3.5.2.2 High R&D expenditure & complexity in the LED lighting systems<br />
3.5.2.3 Increasing raw material cost & instability of the lighting systems<br />
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3.6 Growth potential analysis<br />
3.7 Porter’s analysis<br />
3.8 Competitive landscape, by region, 2017<br />
3.8.1 Company market share, 2017<br />
3.8.2 Strategy dashboard<br />
3.9 PESTEL analysis<br />
China <strong>Automotive</strong> <strong>Lighting</strong> <strong>Market</strong>, By Technology, 2017 & 2024 (USD Million)<br />
The interior automotive lighting market is expected to grow at 7% CAGR from 2018<br />
to 2024. Modern passenger cars and luxury vehicles deploy advanced LED &<br />
halogen lamp components in the interior systems. These components lend<br />
enhanced ambiance and atmosphere to the modern cars. The implementation of<br />
LEDs in vehicle interiors supports the smart and intelligent technologies such as<br />
automated light switching, touch-free lighting, and color consistency. These systems<br />
provide illumination & brightness benefits while driving at night and support the<br />
situation-based light controlling in modern vehicles.<br />
The European automotive lighting market was valued at over USD 8 billion in 2017<br />
and is anticipated to grow further due to the presence of major automotive<br />
manufacturers in the region such as BMW, Audi, Mercedes-Benz, etc. Additionally,<br />
several manufacturing standards set by the European Commission to support<br />
sustainable development and energy-efficient products account for the industry<br />
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growth. <strong>Lighting</strong> system manufacturing companies across the globe follow these<br />
standards for manufacturing the lighting components used in automobiles.<br />
Key players in the automotive lighting market include HELLA GmbH & Co. KGaA,<br />
Hyundai MOBIS, Koito Manufacturing Co., Magneti Marelli S.p.A., Valeo, Osram<br />
Group, Philips N.V., General Electric, Samsung Electronics Co., Ltd., and Varroc.<br />
The automotive lighting industry is fragmented with the presence of a large number<br />
of enterprises and small players. The established companies in the industry possess<br />
a significant purchasing power and have strong partnerships & collaborations with<br />
the suppliers and OEMs. Companies operating in the lighting marketplace focus on<br />
the research & development activities to offer highly efficient and technicallyadvanced<br />
products, expanding the regional presence to gain eminence in the<br />
market.<br />
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