Automotive Lighting Market – Research and Development Offer Customers the Solutions Drives Growth

Automotive lighting has been an integral subsystem of all vehicles. Automotive lighting is essential for ensuring safety, styling, and comfort in vehicles. The lighting system in vehicles consists of signaling and lighting devices that are fitted on the front, rear, sides, and in the interior of the vehicle. The basic function of automotive lighting is to ensure proper visibility during night time and in bad weather conditions.

The lighting unit of the vehicle helps other vehicles determine its size and relative position, and accordingly helps to maintain distance between each other. The automotive lighting has taken a new role in past few years due to development of advanced technology in lighting, such as adaptive front lighting systems, HID Xenon projection and LED lighting are increasingly being used in automotive applications due to energy efficiency, weight reduction and space saving qualities. LEDs are increasingly being used in automotive applications due to its energy efficiency, weight reduction and space saving qualities.

According to TMR, the global automotive lighting market is likely to reach US$46,372.7 mn by the end of 2025, rising from US$28,250.5 mn in 2016, showcasing a healthy CAGR of 5.7% between 2017 and 2025. On the basis of geography, 46% of the total market was accounted for, by Asia-Pacific in 2016. In terms of demand, the front lighting segment is leading.

Demand for Energy Efficient Lighting is Increasing

There is a growing demand for energy efficient lighting today. Consumers are also demanding cost-effective Lighting systems. Therefore, market players are investing in research and development so as to offer customers the solutions. The market is also benefiting from the green disposable income of the people which is leading them to purchase vehicles. In addition to this favorable government policies are also eating the growth of the Global Automotive Lighting Market. The growing demand for improved Road elimination and increasing focus on vehicle safety are the factors helping the market to grow.

Front Lighting Segment Likely to Emerge Dominant by 2017

Global automotive lighting is segmented in terms of vehicle type, by application, by technology, by product scale, and by region. By vehicle type, the market is further segmented into passenger type and commercial type. The passenger vehicle production across the world is approximately three times the number of commercial vehicles production.

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By application, automotive lighting market can segmented into front lighting, rear lighting, interior lighting, and side lighting. The front lighting segment in 2017 is expected to be the highest in the application segment compared to the other three automotive lighting positions.

This is mainly attributed to its function of illuminating the road in all weather conditions and avoiding accidents in the dark as compared to rear and side application segments that are mainly used for indication purposes. By technology, automotive lighting market is bifurcated as Halogen, Xenon, and LED. Decrease in halogen bulbs is mainly due to increase in LED technology.

Key Players:

The prominent players such General Electric Co., Hella KGaA Hueck & Co, Hyundai Mobis, ICHIKOH INDUSTRIES LTD, Magneti Marelli S.p.A, OSRAM Licht Group, Royal Phillips Electronics, SAMSUNG ELECTRONICS Co., Ltd, Stanley Electric Co. Ltd, VALEO, Zizala Lichtsysteme GmbH, Koito Manufacturing Co.,LTD, among others also had an important share in global automotive lighting market.

For global automotive lighting market, Hella KGaA Hueck & Co and OSRAM Licht Group held the largest share in 2016. Moreover, collectively the top vendors are focusing on new features into their automotive lighting market.