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Automotive Lighting Market Likely to Emerge by 2020
Various components of automotive lighting includes auxiliary lights, headlights, taillights, sidelights, interior light, compact lights, off road lights, fog lights, dome light, key light, instrument displays light and other light accessories. These lights are used for many purposes in vehicles such as to drive the vehicle safely in dark, enhance the visibility and act as the warning signals.
Automobile manufacturers have significantly minimized the energy consumption by using LED and adaptive lighting technologies. There are mainly three types of technologies used in automotive lighting such as xenon, halogen and LED. Among these, halogen is most widely used automotive lighting.
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Some factors that drive the automotive lighting market are growing concern of road safety, increasing use of higher efficiency of LED automotive lighting technology and lighting legislations by governments. Increase in purchasing power of individual helps to increase the demand for sophisticated and advance technologies such as advance front lighting system (AFS) and daylight running lights (DRLs). Growing total number of vehicle in the BRIC nations further creates large opportunity for the growth of automotive lighting market in the coming years.
Asia Pacific is the largest automotive lighting market across the world. India, China, Japan and South Korea are some of the prominent countries, which accounts majority of the vehicle production thus offering growth opportunity for automotive lighting market. Asia Pacific is followed by Europe and North America. High vehicle production volume, growing economy, rising population and changing consumer lifestyles are some of the reason which drive the automotive lighting market.
Some of the major companies operating in global automotive lighting market are includes, General Electric (GE), Hella Kgaa Hueck & Co., Hyundai Mobis, Ichikoh Industries Ltd, Koito Manufacturing Co., Ltd., Magneti Marelli S.P.A, Osram GMBH, Royal Philips Electronics, Stanley Electric Co. Ltd, Valeo S.A and Zizala Lichtsysteme GMBH (ZKW).
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