Press release
Global Automotive Exterior LED Lighting Market Research Based on Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2022 | Exterior LED Lighting Market Report By 2022
The growing demand for automobiles around the world, increased customization demands from the consumers and ever growing production of automobiles are driving factors for this market. However, the high cost of LED lighting coupled with an astronomical research and development costs and an uncertain economic situation in European region are projected to restrict the market growth for automotive LED lighting during the assessment period.
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Lighting is an important aspect in automobiles and plays a vital role in safety of the vehicle. Automobiles possess different kinds of lights to enhance the visibility in dark conditions and also in the bad weather conditions like fog and smog. In addition, automotive lighting also enhance the visibility of the vehicle. The lighting system in an automobile consists of lighting and signaling devices. Such kind of lighting equipment are located in different places in the vehicle such as front, rear and top. Besides the above functional uses, the automotive lighting also provides illumination for the driver in order to drive the vehicle. It aids the other vehicle drivers and pedestrians on the road to see the position of the vehicle, gauge the direction of the vehicle and its size and to take precautionary measures. Besides, the lightings also add an aesthetic value to the vehicle making it look glossy and beautiful.
A growing population of the world coupled with increasing demand for automobiles along with the burgeoning production are the driving factors fuelling the growth of the global automotive lights market. Besides, increasing concerns for vehicle safety and government regulations are also considered as growth factors for this market. Additionally, the rise in the purchasing power of the consumers all around the world, especially in the developing economies of APEJ are also driving the market growth. LED is the most prominent automotive lighting technology, replacing the older halogen lighting technology. Increasing demand for energy efficiency, high flexibility and a longer life are the reasons why the switch to LED lighting took place. A number of technological innovations and different types of lighting products are being created to cater to the demands of the customers for automotive exterior LED lighting. On the other hand, higher costs of LED lighting and skyrocketing research and development costs coupled with an uncertain economic situation in the European region are projected to restrict the market growth for automotive exterior LED lighting during the forecast period.
Automotive exterior LED lighting is used for vehicle illumination purposes. They are placed in different places on the vehicle including the top, front and rear. Automotive exterior LED lighting is used both for the purpose of lighting and as well as for signaling. Lighting helps to maintain the safety of the vehicle and enables the driver to drive while in darkness or in fog or smog.
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As per the forecast of Fact.MR, the front light segment is expected to reach a value of nearly US$ 221 Mn in the year 2022. This represents a sluggish CAGR during the forecast period of 2017-2022. Front light segment is expected to account for nearly one-fifth of the revenue share of the product type segment by the year 2017 and is expected to lose market share by the end of the year 2022.
OEM Automotive Exterior LED lighting Segment to exhibit a CAGR of 3.1% During the Assessment Period
As per the forecast of Fact.MR, the OEM automotive exterior LED lighting segment is slated to touch a figure of nearly US$ 499 Mn in the year 2022. This represents a CAGR of 3.1% during the assessment period from 2017 till the year 2022. This segment is expected to gain market share by the end of the year 2022. The OEM automotive exterior LED lighting segment is expected to account for more than one-third of the revenue share of the sales channel segment by the year 2017.
Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of global automotive exterior LED lighting market through 2022, which include HELLA KGaA Hueck & Co, OSRAM Licht AG, Magneti Marelli S.p.A., Koito Manufacturing Co., Ltd, Stanley Electric Co. Ltd, Koninklijke Philips N.V, Valeo SA, Zizala Lichtsysteme GmbH, Texas Instruments Incorporated, Lumax Industries Ltd, Imasen Electric Industrial Co., Ltd and Changzhou Xingyu Automotive Lighting Systems Co., Ltd.
Table of Contents
Global Automotive Exterior LED Lighting Market - Executive Summary
Global Automotive Exterior LED Lighting Market Overview
2.1. Introduction
2.1.1. Global Automotive Exterior LED Lighting Market Taxonomy
2.1.2. Global Automotive Exterior LED Lighting Market Definition
2.2. Global Automotive Exterior LED Lighting Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Automotive Exterior LED Lighting Market Y-o-Y Growth
2.3. Global Automotive Exterior LED Lighting Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Trends
2.4. Supply Chain
2.5. Cost Structure
2.6. Pricing Analysis
2.7. Raw Material Sourcing Strategy and Analysis
2.8. List of Distributors
Continued……………………
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