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Analysis of Automotive LED Light Market: Production, Demand, Pricing, Trends and Growth Forecast till 2022
Fact.MR
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Fact.MR, in its new research report, projects the global market for automotive LED lights to exhibit an impressive expansion over the forecast period 2017-2022. Revenues from the global automotive LED light market are expected to exceed US$ 6,000 Mn by the end of 2022.
Other factors propelling growth of the market include stringent policies and regulations imposed by the governments regarding utilization of halogen and xenon lights, rising emphasis on energy efficiency, surging sales of lightweight vehicles, and expansion of the automotive industry. In contrast, high prices of LED lights will continue to be a major restraining factor for growth of the market. High cost of LED lights currently affects their sales in the aftermarket, particularly across the developing countries such as South Africa, India, and China.
7 Key Estimations on Future of Global Automotive LED Light Market
1- In terms of revenues, aftermarket will continue to be the most lucrative sales channel in the global market, with sales poised to account for more than three-fourth share of the market during 2017 to 2022.
2- Sales of automotive LED lights in OEM will register a comparatively faster expansion than that in the aftermarket through 2022.
3- Asia-Pacific excluding Japan (APEJ) is expected to retain its dominance in the market, and revenues from the market in this region will account for over one-third market share during the forecast period.
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4- Europe is anticipated to remain the second most lucrative region for growth of the automotive LED light market, and poised to expand at 8.5% CAGR through 2022.
5- Headlamps are expected to be the most attractive application segment of automotive LED lights. Revenues from sales of automotive LED lights for headlamps will surpass US$ 1,000 Mn by 2022-end.
6- Automotive LED light sales for application in sidelights, and brake lights are estimated to exhibit a similar CAGR through 2022.
7- Key players participating in the market include General Electric Company, Nichia Corporation, Texas Instruments, Imasen Electric Industrial Co., Ltd., Valeo SA, Koninklijke Philips N.V., Stanley Electric Co., Ltd., Koito Manufacturing Co., Ltd., HELLA KGaA Hueck & Co., and OSRAM Licht AG.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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