openPR Logo
Press release

Automotive Lighting Market Pegged for Robust Expansion During 2018 - 2028

02-22-2019 11:33 AM CET | Industry, Real Estate & Construction

Press release from: Future Market Insights

Automotive Lighting Market Pegged for Robust Expansion During

The approximately US$ 35 billion market for automotive lighting is estimated to observe just-under 5% Y-o-Y growth in 2019, according to a recently published Future Market Insights (FMI) report. While passenger cars have significantly driven the LED Automotive Lighting Sales, bright prospects have been foreseen for sales in electric, in line with the rising trend of vehicle electrification.

Nearly 60% of the automotive lighting systems installed are of headlights/front lights, which collectively capture more than 3/4th of the market revenue, with rear lights. Fog lights are gradually gaining ground in front and rear lighting systems, which is likely to shape the overall performance of automotive lighting market, as indicated by the report.

Lightweight automotive components have been a trendsetter over the past decade, will push the demand growth of lightweight automotive lighting in parallel. This growth forecast is predominantly owing to increasing vehicle electrification and surging demand for high-performance, fuel efficient vehicles.

Halogen lamps continue to reign supreme, holding more than 65% share in the automotive lighting market. In line with tightening vehicle emission standards that demand reduced weight and improved fuel efficiency, the automotive lighting market will observe strong emergence of LED. Superior endurance and high energy efficiency are projected to provide an impetus to LED popularity over halogen and HID counterparts. The report envisages a preeminent push to LED automotive lighting from manufacturers of premium class vehicles.

Request For Report Sample @

Enhanced aesthetic appeal of vehicles with innovative lighting features will remain a priority strategy for leading automakers and OEMs. However, lighting technology innovators in collaboration with prominent market players are also strategizing on introducing economic range products, which is cited as another factor providing a strong push to LED automotive lighting products.

While compact and mid-size passenger car manufacturers remain prime consumer of automotive lighting solutions, the report indicates that this demand growth will be spectacular in EVs over the coming years. Hybrid EVs will further account for a considerable demand share in automotive lighting market. Moreover, billowing sales of motorcycles, particularly in developing economies, will bolster installations of a wide range of automotive lighting in the two-wheelers segment, says the report.

In a fairly consolidated competitive landscape of automotive lighting market, a majority of players are based in North America, Europe, and China. Automotive lighting market leaders such as Koito Manufacturing, Valeo SA, Magneti Marelli, Hella, and Stanley Electric continue to dedicate a majority of investments in strategic acquisitions and new product launches.

Valeo recently acquired a Japanese automotive lighting manufacturer, Ichikoh Industries, Ltd. Expansion has also been among the key developmental strategies in the competitive landscape of automotive lighting market. On the other side, Tier 2 companies including Osram, Varroc Group, Robert Bosch, LG Lightings, and Hyundai Mobis are focusing on collaborative ventures that prominently target product innovations and new launches in automotive lighting space.

In the latter half of 2018, Fiat Chrysler Automobiles N.V. inked a collaborative agreement over the sale of their automotive components business - Magneti Marelli S.p.A. to the Japanese supplier CK Holdings Co., Ltd. (Calsonic Kansei Corporation’s holding company). Osram has been actively introducing new automotive lighting product lineups in the market.

Request For Report Table of Content (TOC):

While Europe retains the top consumer title in automotive lighting landscape, the report projects significant growth potential for automotive lighting market in emerging Asian countries. Automakers, OEMs, and other lighting product manufacturers will capitalize on a series of untapped opportunities particularly in East Asian market, attributed to soaring automotive sales, elevating acceptance for EVs and HEVs, and more importantly, improving purchasing power of consumers. East Asia is likely to represent just-under a third of the global automotive lighting market value, towards 2019 end.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact Us
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive Lighting Market Pegged for Robust Expansion During 2018 - 2028 here

News-ID: 1609913 • Views: 331

More Releases from Future Market Insights

How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring

All 5 Releases

More Releases for LED

Global LED Packaging Market Size Detail Analysis focusing Market Segmentation li …
Global LED Packaging Market Size Detail Analysis focusing Market Segmentation like Lamp-LED, Side-LED, TOP-LED, High-Power LED, SMD-LED, and Flip-Chip LED & more The LED market is one of the quickly growing segments as they are replacing the traditional lighting equipment like bulbs due to their high efficiency and power saving capability. The LED packaging industry is also growing with innovations along with the LED industry as new technologies are being included
Global LED Driver (LED Lighting Driver) Market Research Report
This report studies the global LED Driver (LED Lighting Driver) market status and forecast, categorizes the global LED Driver (LED Lighting Driver) market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in United States, Europe, China, Japan, South Korea and Taiwan and other regions. Get sample copy of the report: Table of Contents: Table of Contents Global LED Driver (LED Lighting Driver) Market Research Report
Global LED Packaging Market
Global LED Packaging Market is expected to reach US$ 34.29 Bn by 2026 from US$ 18.2 Bn in 2016 at a CAGR of 6.54%. The factors such as increasing demand for high power grade LED packages for lighting applications, rising demand for LED packages in the display panel market, growing government initiatives and regulations for adoption of energy-efficient LED lighting and increasing demand for smart LED lighting solutions are responsible
LED Lighting Optics Market
“Global LED Lighting Optics Market Insights, Forecast to 2025” This report researches the worldwide LED Lighting Optics Market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions. The report provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategies. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor
LED Services Market - Energy Efficiency of LED Lighting Boosts Uptake
The world LED services market is projected to be highly competitive with many crucial market players vying to withstand the market competition with innovative product offerings and by improving the functionality of their already existing products. Sponsorship of industry events and various long term lighting contracts are some of the significant growth strategies for the success of this market. One of the significant growth promoting elements of the world market for
Global Led Writing Board
Global Led Writing Board: Led Writing Board Report by Material, Application, and Geography – Global Forecast to 2021 is a professional and in-depth research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, united Kingdom, Japan, South Korea and China). For sample report: The report firstly introduced the Led Writing Board basics: definitions, classifications, applications and