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Automotive Lighting Market Insights by 2027

09-30-2019 08:10 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

According to the new market research report "Automotive Lighting Market for ICE & EVs By Technology (Halogen, LED, Xenon), Position (Front, Side, Rear, Interior), Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting & Region - Forecast to 2027", published by MarketsandMarkets™, The Automotive Lighting Market is estimated to be USD 18.4 billion in 2019 and is projected to reach USD 23.3 billion by 2027, at a CAGR of 3.0%.

Rising disposable income has resulted in an increase in consumer spending capability to purchase premium vehicles, which, in turn, is expected to drive the growth of the market. Government initiatives for implementing adaptive lighting to increase the driver’s safety is another key factor anticipated to fuel market growth.

Browse and in-depth TOC on "Automotive Lighting Market"
167 - Tables
60 - Figures
202 - Pages

View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-lighting-market-1133.html

The key players Automotive Lighting Market are are Hella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Koito (Japan), Denso (Japan), North American Lighting (US), Renesas (Japan), Lumax (India), Aptiv (Netherlands), Grupo Antolin (Spain), Lear Corporation (US), Keboda (China), NXP (Netherlands), Gentex (US), FlexNGate (US), Federal-Mogul (US), Stanley Electric (Japan), Ichikoh (Japan), and Zizala (Austria).

Passenger Car segment expected to be the largest segment for the Automotive Lighting Market

Passenger cars are expected to be the largest segment for the Automotive Lighting Market on account of the rapid adoption of advanced lighting systems. Moreover, increasing sales of premium vehicles with pre-installed adaptive headlights, adaptive taillights, and ambient lights are expected to augment the growth of the segment further. Additionally, visual appeal is considered as a premium feature, and lighting is one of the vital parameters that add value to the visual appeal of the vehicle.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1133

The LED technology is expected to be the fastest-growing segment

The LED technology is expected to grow at the fastest rate as this it offers a better package in terms of adaptive technology. Moreover, LED consumes less power in comparison to other technologies such as halogen and xenon. LED headlights also offer better visibility to the driver and reduce the illumination effect on the eyes of the driver in the opposite direction.

The Asia Pacific to continue being the largest consumer of the Automotive Lighting Market

China was the largest manufacturer and consumer of the automotive lighting due to the presence of a robust automobile production base and huge domestic sales of cars. Other Asian countries such as Japan, Korea, and India showcased promising growth during 2017and 2018, and this trend is likely to continue till 2027. The Asia Pacific is one of the main production bases for several European and North American automotive lighting manufacturers. Thus, the growing global sales of automobiles is expected to drive the growth of the automotive lighting industry.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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