Cars Lights Market Share 2022: Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects and Forecasts to 2027 - Hella, Stanley Electric

The Cars Lights Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Cars Lights Market Size is Projected to Reach at a CAGR of 6% during 2022-2027.

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Market Overview

Global sales of cars and SUVs fell to just under 77 million units in 2020, down from a peak of almost 94.35 million units in 2017. The sector is projected to experience a downward trend on the back of a slowing global economy and the advent of the coronavirus pandemic in all key economies. Vehicle manufacturers are showing great interest in integrating LED lights in vehicles, as these lights consume less power and have a longer life when compared to halogen and HID lights. Furthermore, LED lights offer durability and strength, have high-quality light-emitting diodes, and are superior to all other forms of lighting technology.

Top Leading Companies:

Koito, Valeo, MARELLI, Hella, Stanley Electric, SL Courporation, OSRAM, HASCO, ZKW Group, Varroc, Xingyu, Lumileds, Hyundai IHL, TYC, DEPO

Recent Developments

In November 2019 - Stanley Electric Co. Ltd invested in Electropolymers (Private) Limited, a company primarily involved in the manufacture of automotive and motorcycle lights in Pakistan, with the aim of further strengthening business operations in the Asian region.
In January 2020 - Hella launched Hella FlatLight technologies, a new lighting innovation for rear combination lamps. The optics, which are only a few micrometres in size, allow the diffraction properties of light to be exploited.
In June 2021, Hyundai Mobis has developed new ‘lighting grille’ technology, which implements an LED lighting function in the front grille of a car. Hyundai Mobis’ ‘lighting grille’ technology can use the entire front grille of the car as a lighting device. It is characterised by being able to implement various scenarios such as the autonomous driving mode, the EV charging mode, the welcome light function, the sound beat display, and an emergency warning light display.
In May 2021, OSRAM Continental and REHAU announced a development partnership for the fusion of exterior components with light to provide automotive manufacturers with innovative lighting solutions with more design freedom and functionality.

Cars Lights Market Segmentation by Type:

Halogen Lighting
HID Lighting
LED Lighting

Cars Lights Market Segmentation by Application:

Passenger Vehicle
Commercial Vehicle

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Regional Cars Lights Market (Regional Output, Demand & Forecast by Countries)

Asia-Pacific is Leading the Cars Lights Market

Geographically, the Cars Lights Market is led by the Asia-Pacific region, followed by the European and North American regions. Some of the major factors driving the growth of the markets in these regions are -

An increase in the demand for and the sales of luxury cars.
An increase in the production of vehicles.
An increase in the sales of and demand for commercial vehicles, owing to the growing logistics industry (primarily due to the propelling e-commerce sector in the region) and the construction industry.
A rise in the sales of low-cost vehicles, due to an increase in the disposable incomes of middle-class consumers.
An increase in the number of accidents, especially during the night.
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Cars Lights Market Report:

Detailed overview of Cars Lights Market
Changing the Cars Lights market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Cars Lights market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Cars Lights Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Cars Lights Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Cars Lights industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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