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Automotive lighting Market 2018 Global Industry Outlook To 2

Europe -
Thursday, August 16th, 2018
by Abhijeet Bendre

Automotive lighting Market is growing with
the rapid pace. According to the latest
report published by Market Research Future
(MRFR), the global Automotive lighting
Market will stand at over USD 30,107 Mn
towards the end of 2023, reflecting an
above-average growth rate. Lighting
continues to be one of the key components of
modern vehicles.

Global Market for Automotive lighting –
Competitive Dashboard

HELLA KGaA Hueck & Co (Germany), ZKW
Lichtsysteme GmbH (Wieselburg), OSRAM GmbH
(Germany), General Electric (U.S.), Magneti
Marelli (Italy), KOITO MANUFACTURING CO.,
LTD.( Japan), Philips Lighting NV
(Netherlands), Peterson Manufacturing
company (U.S.), Ichikoh Industries Ltd
(Japan), and Stanley Electric Co. Ltd
(Japan) are among the top companies involved
in automotive lighting manufacturing.

Access Report Details @
https://www.marketresearchfuture.com/reports
/automotive-lighting-market-1819

The recent expansion of the automotive
industry, particularly in countries such as
China, Mexico and India has reflected
favorably on the automotive lighting market.
The auto sector has undergone untiring waves
of technological evolution, in the process,
influencing the diverse range of components
that are integrated in vehicles, including
lighting systems.

Technology is another important facet in the
auto industry, there has been an overhaul
not only in terms of design and style but
also in technology front. One of the notable
and recent technological development that
took place in automotive lighting is the
arrival of adaptive lighting technology.
Many of the premium and mid- range cars now
come with adaptive lighting system. At the
same time, advanced LEDs and HID lamps
system are quickly replacing the traditional
systems. Manufacturers are also
concentrating lighting innovation to prepare
for the next wave of automotive technology,
which will be mainly guided by trends such
as automation and self-driving. The
aforementioned factors are expected to sway
the market over the next six years.

The arrival of new lighting technologies and
greater emphasis on improving vehicle
visibility are some of the key factors
supporting the growth of the automotive
lighting market. The increased sales of
passenger vehicles in emerging markets is
also creating growth opportunities for
market  participants. Nonetheless, a large
percentage of the automotive lighting
components that are currently available,
carry a hefty price tag, which to an extent
is limits the market potentials. Meanwhile,
enforcement of new safety regulations has
prompted carmakers to opt for the best
available lighting solutions. For modern
consumers, style, safety and comfort are
equally important and usually reluctant to
compromise on any.

Latest Industry Trends and News

Italian-American auto giant, Fiat Chrysler
Automobiles has recently revealed its plans
to spin off its Magneti Marelli business
unit. The separation will allow the company
to deliver greater value to its shareholders
and create a stronger operational
flexibility for its high-tech components
business Magneti Marelli in its strategic
growth.

The Netherlands based Philips Lighting has
reportedly expressed it desire to rebrand
itself with a new name “Signify”. However,
the lighting manufacture will continue to
use the Philips brand under the current
agreement of licensing with royal Philips.

Global Market for Automotive Lighting –
Segmental ****ysis

MRFR in its report has also offered a
comprehensive segmental ****ysis of the
market based on vehicle type (heavy
commercial vehicle, light commercial vehicle
and passenger car), application (side
lights, front lights, interior lights, and
rear lights), end market (aftermarket and
OEM) and technology (xenon, LED and
halogen).

Regional Overview:

On the basis of region, the global market
for automotive lighting has been segmented
into Asia Pacific (APAC), Europe, North
America and Rest of the world (RoW). Among
these, the market in APAC is expected to
present lucrative growth opportunities for
players operating in the region. Currently,
the region accounts for the highest share of
market and likely to continue its dominance
over 2023.

About Us:

At Market Research Future (MRFR), we enable
our customers to unravel the complexity of
various industries through our Cooked
Research Report (CRR), Half-Cooked Research
Reports (HCRR), Raw Research Reports (3R),
Continuous-Feed Research (CFR), and Market
Research & Consulting Services.

Contact Us:

Amanora Chambers,

Magarpatta Road, Hadapsar

Pune – 411028

Maharashtra, India+1 646 845 9312

sales@marketresearchfuture.com

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