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Global Automotive Exterior LED Lighting Market Excessive Growth Opportunities Estimated to be Experienced 2017 to 2022|| Major Market players are Osram Licht AG, Koninklijke Philips N.V, Hella KGaA Hueck & Co, Magneti Marelli S.p.A., Stanley Electric Co.
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Automakers Extend Efforts to Attain the ‘Lighting Brand Image’ with Adoption of Automotive Exterior LED Lighting Systems
Vehicle owners are increasingly inclining towards automotive exterior LED lighting for enhanced driver safety and pedestrian security. Automakers on the other side are triggering a brisk shift to automotive exterior LED lighting systems in an effort to explore infinite design opportunities and achieve the model/brand distinction in terms of lighting. A majority of leading LED producers and lighting technology innovators have also stepped into the game of automotive applications, as the profit margin is relatively higher.
Automotive Exterior Lighting Market Projected for Faster Penetration, As LED Prices Drop
Falling prices of high power LED is substantially impacting the lighting technology space, especially automotive exterior LED lighting market. Reduced LED prices are presumed to straightaway translate into improved automotive exterior LED lighting market penetration over the next few years. Chinese market for automotive exterior LED lighting is especially expected to reap the advantages of dramatically curtailed prices of high beam/low beam LED, which have been announced of late.
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Regulatory Bodies Compel Key Players to Adhere to Automotive Exterior LED Lighting Norms
In the backdrop of escalating significance of vehicular safety and vehicle emission control, government and industry authoritative bodies have established a set of stringent regulatory standards. While a majority of structural automotive changes such as electrification, engine downsizing, overall vehicular weight reduction, carbon footprint regulation, driver safety mechanism, and enhanced connectivity have been driven to be in practices by the regulatory norms, leading companies are also focusing on the automotive lighting part. Key stakeholders in the automotive exterior LED lighting market are directing their R&D efforts to meet specific norms set by the authorities such as United Nations Economic Commission for Europe (ECE), The US Department of Transport (DOT), the Society of Automotive Engineering (SAE), and others operating regionally.
Competitive Landscape Analysis: Global Automotive Exterior Lighting Market
The automotive lighting industry has been observing significantly growing interest of a number of players in high performance and superior design capabilities of automotive exterior LED lighting systems. This trend is expected to empower the automotive exterior LED lighting market supply chain with new companies that have exclusive expertise in the various aspects of automotive exterior LED lighting technology.
With an objective to provide light based assistance to drivers, Osram has proposed a conceptual futuristic automotive exterior LED lighting system - Oslon Boost HX. This revolutionary lighting system is supposed to perform the function similar to that of a projector, and would help drivers negotiate the road works, on-road hazards, or icy patches with more safety. The single LED used in this system is claimed to deliver more than 1,400lm, which would help the company become the first innovator to efficiently break in to the growing trend of special user experience. On the other hand, Osram Opto Semiconductors has introduced Infrared (IR) LEDs, i.e. IREDs to their automotive exterior LED lighting portfolio. Typical exterior applications are likely to include pedestrian detection, even night vision, and lane departure detection.
About the Report on Global Automotive Exterior LED Lighting Market
The global automotive exterior LED lighting market report thoroughly evaluates the current and prospective scenario of the global market for automotive exterior LED lighting, considering 2017-2022 as the assessment period. Although the automotive exterior LED lighting market has been projected to see poor overall growth over the next few years, the global revenue is likely to exceed the value of US$ 1.2 Bn towards the end of 2022.
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