Press release
Automotive Lighting Market is Projected to Grow at Over 6% CAGR During Forecast Period 2021-2031
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Lighting market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive LightingThe report offers actionable and valuable market insights of Automotive Lighting. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Lighting Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Automotive Lighting, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Lighting Market.
The global automotive lighting market is projected to grow at 5% and will be valued at US$ 65 Bn by the end of the forecast period (2020-2030). However, the COVID-19 crisis has impacted the growth trajectory as the demand for automotives has fallen sharply. In the wake of disruption of supply chains and the shutdown of manufacturing plants, the automotive lighting market growth has been profoundly affected.
At the same time, some of the world’s leading manufacturers of automotive lighting are confident that the post-pandemic era will herald an uptick in the sales of automotive lighting. Based on these trends, Fact.MR forecasts that the automotive lighting market will experience a V-shaped recovery curve in the long term forecast period.
Automotive Lighting Revenue Analysis 2016-2020 Vs Outlook 2021-2031
As per Fact.MR’s report, over the last five years, the sales of automotive lighting exceeded US$ 20 Bn by the end of the aforementioned period, expanding at a CAGR of over 4%. Manufacturers of automotive lighting are making optimum use of technological advancements in order to adapt to different vehicles.
Amid the COVID-19 pandemic, prospects dipped significantly, attributed to global shutdowns of automotive and associated components manufacturing units due to the imposition of a global lockdown. Fortunately, this recessionary impact was short-lived as governments worldwide introduced stimulus packages to buoy out the automotive industry.
Furthermore, the demand from passenger vehicles is driving the sales of automotive lighting. Thus, in the forecast period, the sales of automotive lighting are expected to surpass US$ 45 Bn by registering a CAGR of 6% through 2021-2031.
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Key Segments Covered
Application
• Front Headlights
• Fog Lights
• Rear Lights
• Side Lights
• Interior Lights
Vehicle Type
• Automotive Lighting for Passenger Cars
• Automotive Lighting for Light Commercial Vehicles (LCVs)
• Automotive Lighting for Heavy Commercial Vehicles (HCVs)
• Automotive Lighting for Electric Vehicles
• Automotive Lighting for Two Wheelers
Light Source
• Halogen Automotive Lighting
• Xenon Automotive Lighting
• LED Automotive Lighting
Sales Channel
• Automotive Lighting through OEMs
• Automotive Lighting through Aftermarket
Automotive Lighting Market- Scope of Report
A recent study by Fact.MR on the automotive lighting market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering automotive lighting.
The study also provides the dynamics responsible for influencing the future status of the automotive lighting market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the automotive lighting market, along with their product portfolios, enhances the reliability of this comprehensive research study.
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/4795
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for automotive lighting are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global automotive lighting market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the automotive lighting during the forecast period.
Country-specific valuation on demand for automotive lighting has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of automotive lighting, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering automotive lighting has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the automotive lighting domain.
Explore Fact.MR’s Comprehensive Coverage on Automotive Domain:
Ground Support Equipment Tires Market – https://www.factmr.com/report/ground-support-equipment-tires-market
Automotive Steering Rack Market – https://www.factmr.com/report/automotive-steering-rack-market
Automotive Steering Shaft Market – https://www.factmr.com/report/automotive-steering-shaft-market
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