Explosive growth in Automobile Industry Report on Automotive Lighting Market, Forecast 2022 In Services market: and key profile : Koninklijke Philips N.V., Phoenix Lamps Limited, Lumax

The growing production of cars to meet the growing demand of consumers is driving the automotive lighting market. Modern automobiles implement technically advanced systems, such as driving assistance and lighting control systems.

The development and integration of LED and laser technology in modern vehicles will create growth opportunities for the industry. The introduction of government regulations, such as the ECE regulations, by the European Commission on the manufacture of general lighting and automotive products to control environmental effects and the low use of chemicals, promotes the use of modern lighting technology.

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Registering a CAGR of +6% from 2019-2022. Lighting is a vital component in automotive vehicles, playing an important role in automotive safety. The vehicle consists of different lights to increase the visibility in darkness and bad weather conditions along with the increase in conspicuity. The lighting system comprises lighting and signaling devices

Rising car sales: car sales have witnessed a remarkable growth rate in India. The reactivation of the economy has particularly supported growth in the recent past. It is expected that this upward trend will continue during the forecast period with a considerable demand for passenger vehicles and two-wheelers. It is expected that the automotive lighting industry, which depends on the state of the automotive industry for its growth, will certainly benefit from this growing sale of vehicles.

Key players profiled in the report include Koninklijke Philips N.V., Phoenix Lamps Limited, Lumax Industries Limited, Osram Licht AG, GE Lighting, Magneti Marelli S.p.A., Koito Manufacturing Co. Ltd., Hella KGaA Hueck & Co., Valeo, and Neolite ZKW Lightings Pvt. Ltd.

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The research methodology used in the report includes several secondary sources, including paid databases and directories. Industry experts and related suppliers have been interviewed to understand the future trends of the automotive lighting market. The bottom-up approach has been used to estimate the size of the market, by volume and value. The size of the market, in terms of volume, is multiplied by the average price of OE (AOP) of the lighting units required for each application and type of vehicle to calculate the market in terms of value. The sum of the national market gives the regional market and a larger sum of the regional market provides the global automotive market

By Technology
Halogen
Xenon
LED
By Vehicle type
Passenger Vehicles
Commercial Vehicles
By Product Sale
Original Equipment Manufacturer Product (OEM Product)
Aftermarket Product

Lighting Market for Automotive, By Application
Exterior
Headlight
Fog lights
Daytime Running Lights (DRL)
Tail lights
Centre High Mount Stop Lamp (CHMSL)
Sidelights
Others

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