Automotive Lighting Market 2019-2026

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Automotive Lighting Market

• The global automotive lighting market was valued
  at USD 27.9 billion in 2018 and is projected to
  reach a value of USD 49.76 billion by 2026,
  registering a CAGR of 7.5 during the forecast
  period, 20192026.

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Automotive vehicles, including passenger cars and
commercial vehicles, require cost-effective and
energy-efficient lighting systems for a safe
driving experience. Increasing purchasing power
and automotive production propel the demand for
automotive lighting systems. According to an
analysis by the Organisation Internationale des
Constructeurs dAutomobiles (OICA), the sales of
passenger cars increased from 68.5 million units
to 66.4 million units from the year 2015 to
2016. The acceptance of intelligent lighting
technologies such as driver assistance at night
and situation-based light control in commercial
vehicles is creating growth opportunities for the
automotive lighting market. Furthermore, the
increasing demand for passenger cars is aiding
the consumption of automotive lighting products
globally. Automobile companies are focusing on
improving vehicle aesthetics, which is surging
the demand for high-quality lighting systems.
Additionally, the demand for commercial vehicles
is escalating, owing to government infrastructure
development projects and improvement in trade and
transportation.
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The Automotive Lighting market report is the most
important research for who looks for complete
information on the global trends for
the Automotive Lighting market. This report
covers all information on the Global as well as
regional markets including old and future trends
for market demand, supply, size, competitors,
prices and Global predominant vendors'
information. the report also provides a complete
overview of Automotive Lighting markets
including key players, types, manufacturing segmen
t, cost, fluid market shares, and market dynamics
in 2019.The report has been prepared based on
the synthesis, analysis, and interpretation of
information about the Automotive
Lighting market collected from specialized
sources. The competitive landscape section of the
report provides a clear insight into the market
share analysis of key industry players. Company
details, product portfolio, financial overview,
new project launched, recent development analysis
are the parameters included in the profile.
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Europe is expected to emerge as a developing
region in the automotive lighting market during
the forecast period. Growing demand and
technological advancements are inspiring
manufacturers to reduce production cost and
increase yield. Additionally, growth in RD for
technological expansion has amplified the
effective integration of LEDs into automotive
exterior lights, which is foreseen to enhance
market growth during the forecast period.
Moreover, prominent automotive manufacturers such
as Audi, BMW, and Mercedes-Benz are experiencing
rapid growth in the regional market. For
instance, in October 2017, Osram India launched
an innovative lighting solution named Rallye,
which is well-suited with commercial vehicles,
two-wheelers, and four-wheelers. This product is
manufactured in Osrams manufacturing plants in
Germany and China.In June 2017, Magneti Marelli
announced the commencement of its new automotive
lighting production plant in China for the
manufacturing of LED headlamps and rear lamps.
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