Automotive Lighting Market | Leaders - Samsung Electronics, Valeo, Magneti Marelli, General Electric, HELLA, OSRAM, Philips Lighting,
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LED lighting technologies are witnessing a high popularity in the automotive industry due to the rising implementation of vehicle lighting systems. LEDs offer several benefits such as performance & energy efficiency, bright lights, and low power consumption. Major users of the LED-based automotive lighting market products are global automotive OEMs including Audi, BMW, Honda Motor Company, General Motors, Tata Motors, etc. However, high tariff and trade restrictions in several countries will hamper the automotive lighting market growth. These restrictions limit the sales of lighting and other automotive systems to different countries. In addition, fluctuations in the raw materials and component prices due to changing supplier conditions will hinder the product development.
The interior automotive lighting market is expected to grow at 7% CAGR from 2018 to 2024. Modern passenger cars and luxury vehicles deploy advanced LED & halogen lamp components in the interior systems. These components lend enhanced ambiance and atmosphere to the modern cars. The implementation of LEDs in vehicle interiors supports the smart and intelligent technologies such as automated light switching, touch-free lighting, and color consistency. These systems provide illumination & brightness benefits while driving at night and support the situation-based light controlling in modern vehicles.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. General Electric Company
2. HELLA GmbH & Co. KGaA
3. Hyundai MOBIS
4. Magneti Marelli S.p.A.
5. OSRAM Group
6. Philips Lighting
7. Samsung Electronics Co., Ltd.
9. Varroc Group
10. ZKW Group
Automotive Lighting Market By Technology
Automotive Lighting Market By Vehicle Type
• Passenger Cars
• Commercial Vehicles
Automotive Lighting Market By Application
• Interior Lighting
• Side Lighting
• Rear Lighting
• Front Lighting/Headlamps
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Passenger cars in the automotive lighting market are witnessing a rapid demand owing to the increased consumer demand. These cars deploy advanced lights in various systems including the front, rear, interior, and exterior lighting. The growing awareness to develop safe and technically-efficient passenger vehicles and manufacturer strategies to sustain the high automotive lighting market competition drives the segment growth.
The automotive lighting market is expected to witness a lucrative growth in China owing to the rapidly growing automobile industry in the country. The Chinese automotive industry has been at the forefront in terms of annual production surpassing Europe, the U.S., and Japan. China is an attractive place for foreign auto manufacturers and many established foreign players have their manufacturing plants in China. This can be credited to the cheap & easy labor availability and low costs of raw materials.
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Prominent automotive lighting market players include Magneti Marelli S.p.A., General Electric, Hyundai MOBIS, HELLA GmbH & Co. KGaA, Namyung Lighting, Philips NV, Osram Group, and Varroc. The key industry players adopt efficient product development strategies including partnerships and mergers. Companies in the automotive lighting market adopt low and value-based pricing strategies to pose entry barriers for new participants and offer increased product efficiency.
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