What's driving Automotive Lighting Market Growth? Top Players: Magneti Marelli S.P.A., Hella KgaA Heuck & Co, Stanley Electric Co Ltd.
Key Players Operating in the Automotive Lighting Market
Some of the prominent players involved in the manufacturing of automotive lighting and included in this study are Magneti Marelli S.P.A., Hella KgaA Heuck & Co, Stanley Electric Co Ltd., Valeo S.A, Koito Manufacturing Co., Ltd., Robert Bosch GmbH, Osram GmbH, Varroc Group, LG Lightings, Infineon Technologies and Hyundai Mobis, amongst others
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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.
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.
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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.
Automotive Lighting Market Reports - Table of Contents
1. Executive Summary
Global Market Outlook
Demand Side Trends
Supply Side Trends
Analysis and Recommendations
2. Market Overview
Market Coverage / Taxonomy
Market Definition / Scope / Limitations
3. Key Market Trends
Key Trends Impacting the Market
Product Application Trends
4. Target Product Features
Cost Tear Down Analysis
Headlamp Systems Typologies
5. Market Background
Global GDP Growth Outlook
Global GDP Analysis by Region
Global Automotive Production Outlook
Global Electric Vehicle Market Overview
Global Two Wheelers Market Outlook
Global Automotive Fleet on Road Outlook
Forecast Factors - Relevance & Impact
Manufacturing Industry Value Add
Global Automotive Production
Global Electrification Rate of Automobiles
Global Motorcycles Market
6. Global Automotive Lighting Market Demand Analysis 2013-2017 and Forecast, 2018-2028
Historical Market Volume (Units) Analysis, 2013-2017
Current and Future Market Volume (Units) Projections, 2018-2028
Y-o-Y Growth Trend Analysis
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