Lighting Market: Automotive Industry 2018 Leading Players Analysis: OSRAM, Stanley Electric, General Electric, Philips, Ichikoh, HELLA, KOITO, ZKW, Peterson, Magneti Marelli

Automotive Lighting Market 2018 Research Report – Global Industry Forecast to 2023, is latest research report on Global Automotive Lighting industry published by Market Research Future. Report provides comprehensive information on Global Automotive Lighting Market forecast, historic data, with business development strategies, upcoming opportunities, and regional outlook. Global Automotive Lighting market is expected to grow at 6.43% CAGR and reach $30, 000 Mn by the end of year 2023.

Automotive Lighting Industry Key Players Analyzed in Report Are:

Magneti Marelli (Italy), Philips Lighting NV (Netherlands), Ichikoh Industries Ltd (Japan), HELLA KGaA Hueck & Co (Germany), KOITO MANUFACTURING CO., LTD.(Japan), ZKW Lichtsysteme GmbH (Wieselburg), Peterson Manufacturing company (U.S.), OSRAM GmbH (Germany), Stanley Electric Co. Ltd (Japan), General Electric (U.S.).

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Automotive Lighting Industry Highlights:

According to the latest report published by Market Research Future (MRFR), the global market for automotive lighting will stand at over USD 30,107 Mn towards the end of 2023, reflecting an above-average growth rate. Lighting continues to be one of the key components of modern vehicles. The recent expansion of the automotive industry, particularly in countries such as China, Mexico and India have reflected favorably on the automotive lighting market. The auto sector has undergone untiring waves of technological evolution, in the process, influencing the diverse range of components that are integrated in vehicles, including lighting systems.

The arrival of new lighting technologies and greater emphasis on improving vehicle visibility are some of the key factors supporting the growth of the automotive lighting market. The increased sales of passenger vehicles in emerging markets is also creating growth opportunities for market participants. Nonetheless, a large percentage of the automotive lighting components that are currently available, carry a hefty price tag, which to an extent is limits the market potentials. Meanwhile, enforcement of new safety regulations has prompted carmakers to opt for the best available lighting solutions. For modern consumers, style, safety and comfort are equally important and usually reluctant to compromise on any.

Technology is another important facet in the auto industry, there has been an overhaul not only in terms of design and style but also in technology front. One of the notable and recent technological development that took place in automotive lighting is the arrival of adaptive lighting technology. Many of the premium and mid- range cars now come with adaptive lighting system. At the same time, advanced LEDs and HID lamps system are quickly replacing the traditional systems. Manufacturers are also concentrating lighting innovation to prepare for the next wave of automotive technology, which will be mainly guided by trends such as automation and self-driving. The factors are expected to sway the market over the next six years.

Regional Analysis:

Based on region, the global market for automotive lighting has been segmented into Asia Pacific (APAC), Europe, North America and Rest of the world (RoW). Among these, the market in APAC is expected to present lucrative growth opportunities for players operating in the region. Currently, the region accounts for the highest share of market and likely to continue its dominance over 2023.

Industry Segmentation:

MRFR in its report has also offered a comprehensive segmental analysis of the market based on vehicle type (heavy commercial vehicle, light commercial vehicle and passenger car), application (side lights, front lights, interior lights, and rear lights), end market (aftermarket and OEM) and technology (xenon, LED and halogen).

Industry News:

Italian-American auto giant, Fiat Chrysler Automobiles has recently revealed its plans to spin off its Magneti Marelli business unit. The separation will allow the company to deliver greater value to its shareholders and create a stronger operational flexibility for its high-tech components business Magneti Marelli in its strategic growth.

The Netherlands based Philips Lighting has reportedly expressed it desire to rebrand itself with a new name “Signify”. However, the lighting manufacture will continue to use the Philips brand under the current agreement of licensing with royal Philips.

List of Tables:

TABLE 1 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION)

TABLE 2 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY VEHICLE TYPE, 2015-2023 (USD MILLION)

TABLE 3 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY APPLICATION, 2015-2023 (USD MILLION)

TABLE 4 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY END MARKET, 2015-2023 (USD MILLION)

TABLE 5 GLOBAL AUTOMOTIVE LIGHTING MARKET, BY REGION, 2015-2023 (USD MILLION)

Continued...

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