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Automotive Lighting System Market .pdf


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Automotive Lighting System Market– Global
Industry Analysis Report, Share, Growth, Price
Trends and Forecast, 2024: Global Market Insights
Inc.
The Automotive Lighting System Market trends are analyzed from recent past with
an eye on coming years in this report that also offers projections for Automotive
Lighting System industry targeted at helping in business decisions. Automotive
Lighting System Market size is expected to increase during the forecast period owing
to the rising vehicle production and growing lighting applications, specifically in
passenger vehicles.
Increased use of high-efficiency LED and rising concerns about road safety along
with government regulations for lighting are some of the factors driving the
automotive lighting system market share from 2017 to 2024. Increasing buying
power of the consumers has increased the demand for advanced and sophisticated
technologies such as Daylight Running Lights (DRLs) and Advanced Front-lighting
System (AFS).

Factors restraining the automotive lighting system market growth include high R&D
cost and fluctuating prices of raw materials. The technological innovations require
huge investment, which will hamper the R&D development and limit the industry
growth.
Based on application, the automotive lighting system market is segmented into
exterior lighting and interior lighting. The exterior lighting can be categorized into fog
lights, head lights, tail lights, side lights, Daytime Running Lights (DRL), Center high
mount stop lamps (CHSML), and others. Others include brake lights, indicators,
license plates, reverse lights, and side view mirror indicators. The interior lighting
segment consists of glove box, dashboard, reading lights, rear view mirror interior
lights, and dome lights. The automotive lighting system market is dominated by
exterior lighting and is expected to continue its domination over the forecast period
owing to the application of these lights in the driver safety.
Based on technology, the industry is segmented into LED, Xenon/HID, and
halogen/incandescent. The LED segment is expected to showcase the highest
market growth. This growth can be credited to the benefits offered by LEDs such as
lower energy consumption and temperature, bright illumination, and flexibility in
designing. These features are leading to growth in the adoption of LED lights in
automobile interior.
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The automotive lighting system market is segmented by vehicle type into passenger
cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars
is anticipated to grow at a higher rate during the projected period. Growing demand
for luxury, ambiance, and comfort as well as pedestrian and passenger safety
regulations will positively impact the industry growth over the forecast timeline.
The manufacturers in the automotive lighting system market include Koninklijke
Philips N.V., General Electric (GE), Hella KGaA Hueck & Co., Magneti Marelli,
Osram, Stanley Electric, Koito Manufacturing Co., Ichikoh Industries, Ltd., and Zizala
Lichtsysteme GmbH. The key strategies implemented by the companies are
expanding business by acquiring other competing companies. In July 2016, Osram
acquired the U.S. automotive lighting startup, Novità Technologies.
Browse Related Report:
Automotive Lighting Market Size, Industry Analysis Report, Regional Outlook (U.S.,
Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi
Arabia, UAE, South Africa), Application Development Potential, Price Trends,
Competitive Market Share & Forecast, 2017 – 2024
About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
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