openPR Logo
Press release

Automotive Lighting System Market Driven by Increasing Purchasing Power of Consumers

01-12-2017 02:12 PM CET | Fashion, Lifestyle, Trends

Press release from: TMR - Research Reports

/ PR Agency: Transparency Market Research
Automotive Lighting System Market Driven by Increasing

The automotive sector is one of the booming sectors currently, and is expected to witness significant growth during the forecast period. The automotive sector is presently more inclined towards customer safety and comfort, as well as improved performance The growth of the automobile sector is driving the market of automotive lighting systems. In addition, increasing demand for advanced automotive lighting technologies is set to bolster the growth of the automotive lighting system market across the globe during the forecast period from 2015 to 2021.

View exclusive Global strategic Business report:
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2775

The standard low-cost automotive lamps are being replaced by the expensive LED and HID lamps because of their long life and ability to ensure lower energy consumption. Due to such efficient technologies and the increasing purchasing power of consumers, the demand for LEDs and HIDs is set to grow considerably during the forecast period, irrespective of their high cost. Therefore, the increasing cost of the newer lighting technologies is expected to add up to the existing cost of the vehicle, resulting in an increase in price of the vehicle. The increase in prices of vehicles would further lead to an increase in the global automotive market revenue, thus, encouraging a huge growth in the automotive sector. The use of standard automotive lamps, which consume high energy, has largely been reduced. Therefore, the automotive lighting system manufacturers have focused on the development of advanced lighting technologies that are highly efficient and consume less energy. Lighting technologies such as LED, HID/Xenon and halogen have positively affected the growth of the automotive lighting system market. The advanced lighting technologies produces more than double the amount of light as compared to standard lamps and are superior in all aspects to that of its counterpart.

Increasing purchasing power of the consumers is also driving the market for automotive lighting system. In addition, the increasing vehicle production in all regions of the world is also influencing the demand for the automotive lighting technologies. Sophisticated lighting technologies such as the advanced front lighting system (AFS) and daytime running lights are becoming largely popular in the automotive lighting system market. The major concern of the industry is the huge capital that is required for research and development of lighting technologies, which increases the price of the advanced lighting products considerably.

The growing demand for advanced lighting components in automobiles is driving the automotive lighting system market currently. New and superior lighting technologies such as LED, HID, and Halogen, which ensure less energy consumption and longevity, are being largely preferred by automobile manufacturers and consumers. Therefore, the supply side of such modern lighting technologies is expected to grow at a high rate, and by the end of the forecast period, it would likely attain its peak. Automotive lighting is complementary to automobile production as it is one of the essential components in a vehicle. Therefore, with the increase in vehicle production, the demand for automotive lighting components is set to grow at an equal rate.

The primary concern with the latest LED and HID technology is its higher price. In North America and Europe, this factor is expected to affect only a few areas but in the Asia Pacific region and RoW, the impact is bound to be high because of the high number of price conscious consumers in these regions. The other restraint in the market is the huge financial investment that automotive lighting system manufacturers have to undertake for research and development activities. Advanced automotive lighting solutions require state of the art manufacturing facilities along with modern equipment, which come with a high price tag. In addition, the ever changing technologies in the automotive lighting business are an added risk for the automotive lighting system manufacturers.

Major market participants profiled in this report include Koninklijke Philips N.V. (Netherlands), Hyundai Mobis (South Korea), General Electric (U.S.), Valeo S.A. (France), Osram Licht AG (Germany), Stanley Electrics Co. Ltd. (Japan), Magneti Marelli S.p.A. (Italy) and Hella KGaA Hueck & Co. (Germany).

About TMR

TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive Lighting System Market Driven by Increasing Purchasing Power of Consumers here

News-ID: 411597 • Views:

More Releases from TMR - Research Reports

Pulmonary Drugs Market is Expected to Reach US$ 28,082.1 Million by the End of 2024
Pulmonary Drugs Market is Expected to Reach US$ 28,082.1 Million by the End of 2 …
According to the research report, the global pulmonary drugs market is expected to be worth US$ 28,082.1 mn by the end of 2024 as compared to US$ 48,039.7 mn in 2015. Analysts calculate that the global market will plummet at a CAGR of -6.3% during the forecast period of 2016 and 2024. The market will thrive as the demand for combination drugs is anticipated to remain on the rise during
North America Ventricular Assist Device Market is rising to a valuation of US$ 1.07 Billion by 2024
North America Ventricular Assist Device Market is rising to a valuation of US$ 1 …
According to TMR, the opportunity in the North America market for VADs, which stood at US$0.4 bn in 2015, is likely to expand at a healthy CAGR of 9.20% between 2016 and 2024 and increase to US$1.07 bn by the end of the forecast period. The destination therapy (DT) segment has been reporting a greater application of VADs than the other two indication segments. It is expected to remain the
Dental Membrane and Bone Graft Substitutes Market to rise to US$ 922.6 Million by 2024
Dental Membrane and Bone Graft Substitutes Market to rise to US$ 922.6 Million b …
Transparency Market Research notes that innovation and expansion into emerging regions have served these companies well in strengthening their hold in the dental membrane and bone graft substitutes market. For instance, Switzerland-based Geistlich Pharma AG - a global manufacturer and supplier of dental products and devices - expanded its operations in Sydney, Australia and New Delhi, India in 2016. The global dental membrane and bone graft substitutes market is expected to
Human Vaccines Market is Estimated to Reach US$ 72.5 Billion by 2024
Human Vaccines Market is Estimated to Reach US$ 72.5 Billion by 2024
The global human vaccines market was valued at US$28.3 bn in 2015 and is estimated to reach US$72.5 bn by 2024, registering an 11.2% CAGR during the forecast period. By age group, pediatric vaccines accounted for a 57.5% share in the global human vaccines market in 2015. Adult vaccines, on the other hand, are expected to expand at a 13.2% CAGR from 2016 to 2024. Based on product, the pneumococcal segment

All 5 Releases


More Releases for LED

Global Backlight LED Market| Global Backlight LED Industry | Backlight LED Marke …
The backlight LED market comprises of sales of Backlight LED & related services. LED backlight is a flat panel display that uses LED backlighting instead of cold cathode fluorescent (CCFL) backlighting. LED backlight displays also use thin-film-transistor liquid-crystal display (TFT LCD) technologies that offer better contrast and brightness, reduced energy consumption, greater color range more quick response to changes in the scene, and photorefractive effects. These displays are small chips
Global LED Packaging Market Size Detail Analysis focusing Market Segmentation li …
Global LED Packaging Market Size Detail Analysis focusing Market Segmentation like Lamp-LED, Side-LED, TOP-LED, High-Power LED, SMD-LED, and Flip-Chip LED & more The LED market is one of the quickly growing segments as they are replacing the traditional lighting equipment like bulbs due to their high efficiency and power saving capability. The LED packaging industry is also growing with innovations along with the LED industry as new technologies are being included
Global LED Driver (LED Lighting Driver) Market Research Report
This report studies the global LED Driver (LED Lighting Driver) market status and forecast, categorizes the global LED Driver (LED Lighting Driver) market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in United States, Europe, China, Japan, South Korea and Taiwan and other regions. Get sample copy of the report: https://www.marketdensity.com/contact?ref=Sample&reportid=68754 Table of Contents: Table of Contents Global LED Driver (LED Lighting Driver) Market Research Report
Global LED Drivers Market 2017 Trends By Product(Buck-Boost LED Drivers, Multito …
Scope Of Global LED Drivers Market Research Report 2017 Global LED Drivers Market Report Based On Defination, Status and Forecast 2022 contains a market overview of the industry which talks about market Application, production, Consumption, revenue, Gross margin, sales volumes and figures, growth estimation in coming years, current industry leaders and their sales/revenue metrics. Request For Free Sample Report Here : https://www.reportsmonitor.com/request-sample/?post=489550 This report studies the global LED Drivers market, analyzes and
LED Flashlight Market 2017 - SureFire, LED Lenser, Pelican, NovaTac
Apex Research, recently published a detailed market research study focused on the "LED Flashlight Market" across the global, regional and country level. The report provides 360° analysis of "LED Flashlight Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global LED Flashlight industry, and estimates the future trend of LED Flashlight market on
LED Light: 2017 Global LED Light Bulb Market Outlook
Orbis Research delivers key insights on the Global LED Light Bulb Market in a new report titled “Global LED Light Bulb Market Research Report 2017-2022 by Players, Regions, Product Types and Applications.” In this report, Orbis Research sheds light on the various factors and trends impacting market growth over the forecast period (2017 – 2022). Description The Global LED Light Bulb Market report offers a comprehensive evaluation of the Global LED