Global Automotive Exterior LED Lighting Market Value to Reach US$ 1,243 Mn by 2022

The automotive exterior LED lights are used for the illumination of the vehicle. LED lights are used in order to let the driver see in the darkness or in adverse weather conditions like fog and smog. LED lights are also useful in maintaining the safety of the vehicle. This Fact.MR report discusses key prospects for growth of global automotive exterior LED lighting market during the forecast period, 2017-2022, offering pragmatic insights to lead market players towards devising & implementing informed strategies.

The scope of the report is to analyze the global automotive exterior LED lighting market for the period 2017-2022 and give readers an accurate, unbiased analysis. LED lighting manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.

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4 Forecast Highlights on Global Automotive Exterior LED Lighting Market

1. As per the forecast of Fact.MR, the parking light automotive exterior LED lighting segment is slated to touch a value of nearly US$ 138 Mn in the year 2022. This represents a sluggish CAGR growth during the assessment period of 2017-2022. The parking light automotive exterior LED lighting segment is estimated to account for more than one-tenth of the revenue share of the product type segment by the year 2017 end and is expected to gain in market share by the year 2022 end.

2. As per the forecast of Fact.MR, the aftermarket automotive exterior LED lighting segment will reach a value of nearly US$ 655 Mn in the year 2017. This represents a sluggish CAGR growth during the forecast period. The aftermarket automotive exterior LED lighting segment is estimated to account for nearly two-third of the revenue share of the sales channel segment in the year 2017 end and is expected to lose market share by the end of the year 2022.

3. As per the forecast of Fact.MR, the compact passenger cars segment is slated to reach a value of nearly US$ 344 Mn in 2022. The compact passenger cars segment is expected to gain some market value by the end of the year 2022. The largest share is contributed by the Europe region in the compact passenger cars segment.

4. Fact.MR forecasts the 12V automotive exterior LED lighting market to grow from nearly US$ 677 Mn in 2017 to nearly US$ 776 Mn in 2022. This represents a compound annual growth rate (CAGR) of 2.8% from 2017 to 2022.

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Front Light Segment Poised to Touch a Value of Nearly US$ 221 Mn in 2022

As per the forecast of Fact.MR, the front light segment is expected to reach a value of nearly US$ 221 Mn in the year 2022. This represents a sluggish CAGR during the forecast period of 2017-2022. Front light segment is expected to account for nearly one-fifth of the revenue share of the product type segment by the year 2017 and is expected to lose market share by the end of the year 2022.

OEM Automotive Exterior LED lighting Segment to exhibit a CAGR of 3.1% During the Assessment Period

As per the forecast of Fact.MR, the OEM automotive exterior LED lighting segment is slated to touch a figure of nearly US$ 499 Mn in the year 2022. This represents a CAGR of 3.1% during the assessment period from 2017 till the year 2022. This segment is expected to gain market share by the end of the year 2022. The OEM automotive exterior LED lighting segment is expected to account for more than one-third of the revenue share of the sales channel segment by the year 2017.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global automotive exterior LED lighting market through 2022, which include HELLA KGaA Hueck & Co, OSRAM Licht AG, Magneti Marelli S.p.A., Koito Manufacturing Co., Ltd, Stanley Electric Co. Ltd, Koninklijke Philips N.V, Valeo SA, Zizala Lichtsysteme GmbH, Texas Instruments Incorporated, Lumax Industries Ltd, Imasen Electric Industrial Co., Ltd and Changzhou Xingyu Automotive Lighting Systems Co., Ltd.

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This release was published on openPR.