Press release
North America Automotive Lighting Market Outlook to 2027 - Automotive Lighting, Hella, Koito Manufacturing, Lumileds Holding, Osram Continental
The automotive lighting market in North America is expected to grow from US$ 5.53 Bn in 2018 to US$ 6.84 Bn by the year 2027. This represents a CAGR of 2.5% from the year 2019 to 2027.The vehicle lighting system is capturing a significant share in the automotive industry. The modern automotive lighting is a new trend. Factors such as increasing technological advances in lighting, continuous increase in the production of the automotive, stringent environment of rules & standards are some of the factors which contribute heavily towards the growth of the market. The automotive light also improves the performance and security of both driver and passenger while providing a complex design to suit the appearance of a premium car. The device of automotive lighting, such as headlamps, is becoming complex, and thus, they need specific testing equipment to combine them with innovative technologies in a consistent manner. In this market, OSRAM, Valeo, Philips are some of the big players who provide a broad array of automotive lighting products.
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The List of Companies - North America Automotive Lighting Market
1. Automotive Lighting LLC
2. Hella GmbH & Co. KGaA
3. Koito Manufacturing Co., Ltd.
4. Lumileds Holding BV
5. Osram Continental GmbH
6. SL Corporation
7. Stanley Electric Co. Ltd.
8. Tungsram
9. Valeo SA
10. Varroc Group
Vehicle lighting systems are gaining high traction worldwide. The car manufacturers need to ensure that their products, and ultimately the car parts, comply with various regulations to meet the international standards, which ensures the safety of drivers and passengers. For instance, automotive lightings marketed by HELLA GmbH comply with SAE regulations. The SAE International Lighting Standard Committee is a standardization body that is involved in developing standards for the benefits of drivers and passengers. Recently, the committee has published a standard J3069 for adaptive drive beam (ADB) headlamps, in which LD and LED light sources are used, and the beam is dynamically controlled. Stringent rules and regulations are expected to drive the growth of the automotive lighting market.
Currently, the US is dominating the automotive lighting market in terms of installation, which in turn boosts the demand for the automotive lighting market in the region. The US has a strong automotive sector and is one of the major automotive manufacturing hubs across the world. The company has the presence of a few major automotive manufacturers such as Fiat, Ford, General Motors, and Tesla. Also, some of the world's largest automotive manufacturers have their manufacturing facilities across different parts of the country. Vehicle production in the US is significantly high, which makes it an attractive market for automotive components and lighting solution suppliers.
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Table of Content:
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Automotive Lighting - Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
5. North America Automotive Lighting Market - Market Dynamics
5.1 Drivers
5.1.1 Rules and regulations regarding the automotive lighting is expected to drive the market
5.2 Restraints
5.2.1 High cost of LED lighting solutions might hinder the growth of market
5.3 Opportunities
5.3.1 Increasing adoption of LED exterior lighting solutions
5.4 Future Trends
5.4.1 Growing popularity of laser headlamps among automotive OEMs
5.5 Impact Analysis of Drivers and Restraints
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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