Press release
Global Sales of Automotive Exterior LED Lighting Is Likely To Reach US$2.6 Billion in Valuation by 2032
The global sales of automotive exterior LED lighting market valued at US$1.18 Billion in 2021 and in 2022 be valued at US$1.24 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 7.6 % value CAGR, likely to reach US$2.6 Billion by the end of the said forecast period.Download Free Sample Copy of This Report:
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Competitive Landscape
On the other hand, Osram Opto Semiconductors has introduced Infrared (IR) LEDs, i.e. IREDs to their automotive exterior LED lighting portfolio. Typical exterior applications are likely to include pedestrian detection, even night vision, and lane departure detection.
• In November 2020 - Marelli, Japan, will open a production facility for electric drivetrains in Cologne, Germany. Start of production is targeted for the first half of 2021.
• In July 2021 - Marelli Automotive Lighting, and Samvardhana Motherson Automotive Systems Group (SMRP BV), have signed a MOU to explore new technological partnership focused on Smart illuminated exterior body parts. This intends to focus on components such as front grills and bumpers, along with other car parts that can be illuminated. These components are expected to become a growing trend in the future of mobility, with increased adoption of Advanced Driver-Assistance Systems (ADAS) and Autonomous Driving (AD) in the coming years.
• In April 2022 - The brand new Range Rover illuminates the road with an innovative lighting system from ZKW. The "Digital Light Processing" LED headlights not only generate stepless, glare-free high beam that automatically hides oncoming or other road users. The smart, digital front lighting also makes it possible to project animated images onto the road.
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Key Companies Profiled:
• Osram Licht AG
• Koninklijke Philips N.V
• Hella KGaA Hueck & Co
• Magneti Marelli S.p.A.
• Stanley Electric Co. Ltd
• Texas Instruments Incorporated
• Zizala Lichtsysteme GmbH
• Lumax Industries Ltd
• Changzhou Xingyu Automotive Lighting Systems Co., Ltd.
• Imasen Electric Industrial Co., Ltd.
"Increasing in Demand for Automotive Exterior LED Lighting"
The demand for automotive exterior LED lighting is increasing due to a number of factors. LED lighting is becoming increasingly popular due to its energy efficiency, long life, and low maintenance costs. Additionally, LED lighting is becoming more affordable and accessible, making it a viable option for many car owners.
Furthermore, LED lighting offers a wide range of design options, allowing car owners to customize their vehicles with unique lighting solutions.
Finally, LED lighting is becoming increasingly popular due to its ability to provide improved visibility and safety on the road. As a result, more car owners are turning to LED lighting for their exterior lighting needs.
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Key Segments
• By Sales Channel :
o OEM
o Aftermarket
• By Volts :
o 12V
o 14V
• By Region :
o North America
o Europe
o East Asia
o South Asia
o Oceania
o Latin America
o Middle East & Africa
Questionnaire answered in the report include:
• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?
Explore Fact.MR's More Insights on the Automotive Domain
Automotive Radars Market: https://www.prnewswire.com/news-releases/automotive-radars-get-a-touch-of-ai-report-301257488.html
Automotive Towbar Market: https://www.prnewswire.com/news-releases/automotive-towbar-deployment-in-luxury-passenger-cars-to-increase-by-3-through-2031-301357998.html
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