Press release
Global Automotive Exterior Lighting System Market is Expected to Reach US$ 43 billion by 2023
Automotive Exterior Lighting System Market Analysis
The global automotive exterior lighting system market is estimated to reach revenues of more than $43 billion by 2023, growing at a CAGR of approximately 6% during 2017-2023. The market research report offers market size analysis in terms of unit shipment values during the forecast period.
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The report considers the present scenario of the global automotive exterior lighting system market and its market dynamics for the period 2018-2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Automotive Exterior Lighting System Market - Dynamics
The benefits associated with, and declining prices of LED lights is boosting the demand in the global automotive exterior lighting market. The increasing investment in R&D activities to make LED technology accessible for all car segments at affordable prices will fuel the sales of these lights in the global market. ADAS solutions are designed to prevent accidents by either assisting or taking control of the vehicle in cases of potential collisions.
Automotive Exterior Lighting System Market - Segmentation
This market research report includes a detailed segmentation of the market by product type, vehicle type, end-users, and geography. Headlamps segment dominated almost 3/4th of the market share in 2017, growing at a CAGR of around 6% during the forecast period. The increasing adoption of LED and laser headlights is augmenting the growth of this segment in the global market. The use of LED lights that allows the manufacturing of lightweight and thin rear lamps will boost the sales in the automotive exterior lighting system market.
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Key Vendor Analysis
The global automotive exterior lighting system market is very diverse across geographies and has its own competitive dynamics and intensity of competition. The presence of several players that compete for prices in APAC will intensify the competition level in the global market. The economic recovery in Brazil and Argentina will encourage the manufacturer to expand their businesses in the Latin American region in the global market. The increasing focus on product differentiation and competitive prices will help vendors to sustain the competition in the global automotive exterior lighting system market during the forecast period.
The major vendors in the global market are:
• KOITO MANUFACTURING
• Magneti Marelli
• Valeo
• Hella
• OSRAM
Other prominent vendors include Stanley Electric, Magna International, Federal-Mogul, Johnson Electric Holdings, Bosch, Infineon Technologies, Panasonic Corporation, Samvardhana Motherson Group, Flex-N-Gate, Grupo Antolin, Flextronics International, Gentex Corporation, and Phoenix Lamps Division.
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Key market insights include
1. The analysis of global automotive exterior lighting system market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global automotive exterior lighting system market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global automotive exterior lighting system market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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