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Automotive Lighting Market by Vehicle type, Technology, Industry Analysis and Forecast, 2017 - 2024
The raw materials used in manufacturing are glass, tungsten, molybdenum, phosphorous, silicon, niobium, polymers, tantalum and mixture of inert gases. The cost for these materials keeps on changing and slows the growth rate for automotive lighting market size. Product development to meet the requirements of government specifications requires considerable investment by the manufacturers.
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Partnerships with automobile OEMs are set to improve the quality of new product development. The major challenge before the manufacturers is to develop the cost-effective high quality lighting systems. Reducing the effect of bright light to decrease the driver distraction is another area of improvement. Increasing demand for environment friendly solutions has influenced manufacturers to develop energy efficient products for automotive lighting market.
Adaptive front automotive lightning market share is rapidly gaining popularity among the customers. The features include auto on/off, bending/curve lights, cornering lights, headlight leveling and high beam assist.
The overall increase in passenger vehicles due to increase in tourism and transportation increase the demand for this segment. Also, increased used of four-wheelers for customized purpose such as food truck and mobile service van will fuel the demand in LCVs.
Increasing spending on luxury products and increase in the number of total vehicle purchased are the chief growth drivers. The regulatory bodies for the automotive lighting market include Japan Lighting Manufacturers Association, The Automotive Component Manufacturers Association of India (ACMA), The Canadian Vehicle Manufacturers’ Association and European Automobile Manufacturers’ Association (ACEA) among others.
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Automotive lighting market players include Osram, Magneti Marelli, Hella, Stanley Electric, Koito, Valeo, General Electric, KGaA Hueck & co., koninklijke Philips, Ichikoh Industries Ltd., Zizala lichtsysteme GmbH, Lumax Industries, etc. OEMs comprise Mercedes-Benz, Volkswagen, Hyundai Motors, Ford Motors, Toyota, Mahindra & Mahindra, Tata Motors, etc.
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