Automotive LED Light Market to Flourish with an Impressive CAGR During 2018-2028

Automotive LED lights market has been driven by traditional use of these lights as back lights, however they were gradually adopted for headlights over halogen, and xenon light, on the back of their power efficiency and better lighting system. Automotive LED light market continues to gain ground with their increasing preference in vehicles. Growth of the automotive LED light market is further influenced by the auto manufacturers’ focus on the customer comfort and safety, with the rise in production of electric and hybrid vehicles equipped with LED lights.

For effectively differentiating from leaders, and gaining additional share in automotive LED light market, the manufacturers are mainly concentrating on innovative developments, and cost-effective solutions. Potential for automotive LED light market growth will further extend, with improved LED modules, and introduction of new technologies such as organic LEDs (OLEDs) that produce homogenous light. Osram, one of the leading market players, recently made an announcement of its flexible OLED lighting systems for vehicles. These factors will influence growth of the automotive LED light market.

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Robust expansion of the automotive sector, coupled with soaring sales of lightweight vehicles, rising focus on energy efficiency, and stringent government policies & regulations concerning utilization of halogen and xenon automotive lights has also fuelled expansion of the automotive LED light market. However, high cost remains a major restraint for automotive LED light market growth, such as their application in headlamps. Currently, the high prices of automotive LED lights affects their aftermarket sales, especially across developing economies including India, China, and South Africa.

A recent study by Fact.MR estimates the global automotive LED light market to register an impressive CAGR during the forecast period 2017 to 2022. Global automotive LED light market is expected to surpass revenues worth US$ 6,000 Mn by 2022-end.

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Automotive LED Light Market: Vehicle Headlamps to Remain the Leading Application

Automotive LED lights are expected to find the largest application in headlamps of vehicles, with sales poised to exceed US$ 1,000 Mn in revenues by 2022-end. Brake lights are expected to be the second most lucrative application in the automotive LED light market. In addition, automotive LED light sales for application in brake lights and sidelights are projected to register a parallel expansion at 8.7% CAGR through 2022.

Although aftermarket will continue to be the largest sales channel in the automotive LED light market, sales in OEM are anticipated to exhibit a comparatively higher CAGR through 2022. Sales of automotive LED lights in aftermarket will account for over three-fourth revenue share of the market throughout the forecast period.

Accounting for over one-third share of the automotive LED light market, Asia-Pacific excluding Japan (APEJ) will continue to be the most attractive region in the automotive LED light market, in terms of revenues. Europe is expected to be the second most lucrative region in the automotive LED light market, with sales expanding at a CAGR of 8.5% through 2022.

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Competition Tracking

Key players listed in the Fact.MR’s automotive LED light market report include OSRAM Licht AG, HELLA KGaA Hueck & Co., Koito Manufacturing Co., Ltd., Stanley Electric Co., Ltd., Koninklijke Philips N.V., Valeo SA, Imasen Electric Industrial Co., Ltd., Texas Instruments, Nichia Corporation, and General Electric Company.

Table of COntent Covered in the report are:

1. Global Automotive LED Light Market - Executive Summary

2. Global Automotive LED Light Market Overview
2.1. Introduction
2.1.1. Global Automotive LED Light Market Taxonomy
2.1.2. Global Automotive LED Light Market Definition
2.2. Global Automotive LED Light Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Automotive LED Light Market Y-o-Y Growth
2.3. Global Automotive LED Light 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
2.9. Key Participants Market Presence (Intensity Map) By Region

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3. Global Automotive LED Light Market Analysis and Forecast By Application
3.1. Global Automotive LED Light Market Size and Forecast By Application, 2012-2022
3.1.1. Headlamp Automotive LED Light Market Size and Forecast, 2012-2022
3.1.1.1. Revenue (US$ Mn) Comparison, By Region
3.1.1.2. Market Share Comparison, By Region
3.1.1.3. Y-o-Y growth Comparison, By Region
3.1.2. DRL Automotive LED Light Market Size and Forecast, 2012-2022
3.1.2.1. Revenue (US$ Mn) Comparison, By Region
3.1.2.2. Market Share Comparison, By Region
3.1.2.3. Y-o-Y growth Comparison, By Region
3.1.3. Sidelights Automotive LED Light Market Size and Forecast, 2012-2022
3.1.3.1. Revenue (US$ Mn) Comparison, By Region
3.1.3.2. Market Share Comparison, By Region
3.1.3.3. Y-o-Y growth Comparison, By Region
3.1.4. Turning Lights Automotive LED Light Market Size and Forecast, 2012-2022
3.1.4.1. Revenue (US$ Mn) Comparison, By Region
3.1.4.2. Market Share Comparison, By Region
3.1.4.3. Y-o-Y growth Comparison, By Region
3.1.5. CHMSL Automotive LED Light Market Size and Forecast, 2012-2022
3.1.5.1. Revenue (US$ Mn) Comparison, By Region
3.1.5.2. Market Share Comparison, By Region
3.1.5.3. Y-o-Y growth Comparison, By Region
3.1.6. Tail Light Automotive LED Light Market Size and Forecast, 2012-2022
3.1.6.1. Revenue (US$ Mn) Comparison, By Region
3.1.6.2. Market Share Comparison, By Region
3.1.6.3. Y-o-Y growth Comparison, By Region
3.1.7. Break Light Automotive LED Light Market Size and Forecast, 2012-2022
3.1.7.1. Revenue (US$ Mn) Comparison, By Region
3.1.7.2. Market Share Comparison, By Region
3.1.7.3. Y-o-Y growth Comparison, By Region
3.1.8. Interior Illumination Light Automotive LED Light Market Size and Forecast, 2012-2022
3.1.8.1. Revenue (US$ Mn) Comparison, By Region
3.1.8.2. Market Share Comparison, By Region
3.1.8.3. Y-o-Y growth Comparison, By Region
3.1.9. Interior Indication Light Automotive LED Light Market Size and Forecast, 2012-2022
3.1.9.1. Revenue (US$ Mn) Comparison, By Region
3.1.9.2. Market Share Comparison, By Region
3.1.9.3. Y-o-Y growth Comparison, By Region

4. Global Automotive LED Light Market Analysis and Forecast By Sales Channel
4.1. Global Automotive LED Light Market Size and Forecast By Sales Channel, 2012-2022
4.1.1. OEM Automotive LED Light Market Size and Forecast, 2012-2022
4.1.1.1. Revenue (US$ Mn) Comparison, By Region
4.1.1.2. Market Share Comparison, By Region
4.1.1.3. Y-o-Y growth Comparison, By Region
4.1.2. Aftermarket Automotive LED Light Market Size and Forecast, 2012-2022
4.1.2.1. Revenue (US$ Mn) Comparison, By Region
4.1.2.2. Market Share Comparison, By Region
4.1.2.3. Y-o-Y growth Comparison, By Region

5. Global Automotive LED Light Market Analysis and Forecast By Region
5.1. Global Automotive LED Light Market Size and Forecast, 2012-2022
5.1.1. North America Automotive LED Light Market Size and Forecast, 2012-2022
5.1.1.1. Revenue (US$ Mn) Comparison, By Application
5.1.1.2. Revenue (US$ Mn) Comparison, By Sales Channel
5.1.2. Latin America Automotive LED Light Market Size and Forecast, 2012-2022
5.1.2.1. Revenue (US$ Mn) Comparison, By Application
5.1.2.2. Revenue (US$ Mn) Comparison, By Sales Channel
5.1.3. Europe Automotive LED Light Market Size and Forecast, 2012-2022
5.1.3.1. Revenue (US$ Mn) Comparison, By Application
5.1.3.2. Revenue (US$ Mn) Comparison, By Sales Channel
5.1.4. Japan Automotive LED Light Market Size and Forecast, 2012-2022
5.1.4.1. Revenue (US$ Mn) Comparison, By Application
5.1.4.2. Revenue (US$ Mn) Comparison, By Sales Channel
5.1.5. APEJ Automotive LED Light Market Size and Forecast, 2012-2022
5.1.5.1. Revenue (US$ Mn) Comparison, By Application
5.1.5.2. Revenue (US$ Mn) Comparison, By Sales Channel
5.1.6. MEA Automotive LED Light Market Size and Forecast, 2012-2022
5.1.6.1. Revenue (US$ Mn) Comparison, By Application
5.1.6.2. Revenue (US$ Mn) Comparison, By Sales Channel

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