Automotive LED Lighting Market to Rise At 9% CAGR and Evaluated to Grow to USD 20 Billion by 2022, according Global Automotive LED Lighting Market 2019 Global Industry Analysis To 2022. Automotive LED Lighting Industry report anlayzes Market for Automotive LED Lighting by Position (Front, Rear, Side, Interior), By Vehicle Type (Passenger Car), Adaptive Lighting (Front Adaptive Lighting, Rear Adaptive Lighting, Ambient Adaptive Lighting), Region with Forecast To 2022.
Automotive LED Lighting Global Market – Overview
The Automotive LED Lighting Market is growing rapidly owing to its Cost efficiency and work efficiency. According to a recent study report published by the Market Research Future, The global market of Automotive LED Lighting is projected to grow at a rapid pace during the forecast period (2016 – 2022). The Market is forecasted to demonstrate a spectacular growth by 2022, the global Automotive LED Lighting market is expected to grow approximately at USD 20 Billion by 2022, approx.9% of CAGR between 2016 and 2022.
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Increasing sales of lightweight vehicles worldwide, growing automobile industry, increasing LED penetration and focus on energy efficiency are factors providing impetus to the market growth of Automotive LED Lighting globally. On the other hand, Factors such as slow growth of vehicle sales in BRIC nations, high costs of LED, high research and development costs are projected to restrict the market growth of global Automotive LED Lighting
The Automotive Light Emitting Diode Lighting market is growing because of the low cost of the LED and efficient working of it. LEDs are small, solid light bulbs which are extremely energy efficient and long lasting. The long life of LED lamps was initially attractive, however, low brightness and high cost means, that they were generally restricted to use in dashboards.
Automotive LED Lighting Global Market - Key Players
Major Automotive LED Lighting Companies covered in the market report includeOsram Licht AG (Germany), Koito Manufacturing Co. Ltd (Japan), Magneti Marelli SpA (Italy), Stanley Electric Co. Ltd (Japan), Koninklijke Philips NV (Netherlands), Mercedes-Benz (Germany), Hyundai Group (South Korea), Tata Motors Limited (India), Toyota Motor Corporation (Japan), and Zizala Lichtsysteme Gmbh (Austria) among others.
Global Automotive LED Lighting Market - Segments
For a better understanding, the report has been segmented into four key dynamics:
By Position: Front, Rear, Side, and Interior.
By Vehicle Type: Light Commercial Vehicle (LCV), Passenger Car, and Heavy Commercial Vehicle (HCV).
By Adaptive Lighting: Rear Adaptive Lighting, Front Adaptive Lighting, and Ambient Adaptive Lighting.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Automotive LED Lighting Global Market – Synopsis
The introduction of innovative technologies to enhance safety and performance along with declining component prices has increased the sales of Automotive LED Lighting products. Manufacturers are also developing premium LED lights to accessorize vehicles. Innovations in LED technology, Increase in popularity of ambient lighting and Development of laser and OLED lights are the three key trends that are contributing to the augmented growth of global Automotive LED Lighting.
Automotive LED Lighting Market – Regional Analysis
The regional analysis of Automotive LED Lighting market is being studied for regions such as Asia pacific, Americas, Europe and Rest of the World. Asia- Pacific region owing to the fast growing automotive industry in developing countries such as India, China and South Korea is expected to show a significant growth in the Automotive LED Lighting market. Europe and North America are anticipated to dominate the LED lighting market in terms of demand. Increasing automotive production paired with adoption of energy efficient lighting source such as LED is driving the growth of automotive lighting industry in the European region. Also government enforcing to lesser CO2 emission from the vehicle is driving the LED market in that region.
Highly competitive, automotive LED lighting market is dependent on automobiles sales. Driven by the increase in automotive production, currently, the market appears to be fragmented due to the presence of several players. To gain a competitive advantage, well-established players incorporate strategic initiatives such as acquisition, partnership, collaboration, expansion, and product & technology launch.
LIST OF TABLES
TABLE 1 AUTOMOTIVE LED LIGHTING MARKET, BY POSITION
TABLE 2 AUTOMOTIVE LED LIGHTING MARKET, BY VEHICLE TYPE
TABLE 3 AUTOMOTIVE LED LIGHTING MARKET, BY ADAPTIVE LIGHTING
TABLE 4 AUTOMOTIVE LED LIGHING MARKET, BY REGION
TABLE 5 NORTH AMERICA AUTOMOTIVE LED LIGHTING MARKET, BY POSITION
TABLE 6 NORTH AMERICA AUTOMOTIVE LED LIGHTING MARKET, BY VEHICLE TYPE
TABLE 7 NORTH AMERICA AUTOMOTIVE LED LIGHTING MARKET, BY ADAPTIVE LIGHTING
TABLE 8 U.S. AUTOMOTIVE LED LIGHTING MARKET, BY POSITION
TABLE 9 U.S. AUTOMOTIVE LED LIGHTING MARKET, BY VEHICLE TYPE
TABLE 10 U.S. AUTOMOTIVE LED LIGHTING MARKET, BY ADAPTIVE LIGHTING
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