Pune, India, September 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Automotive LED Lighting Market.
Market Synopsis
Market Research Future (MRFR) expects the global automotive light-emitting diode (LED) lighting market to achieve an approx. CAGR of 9% during the forecast period (2016-2022). It could reach a rough valuation of USD 20 Billion by 2022.
Primary Drivers and Top Challenges
The cost-effectiveness is of the most appealing qualities of an automotive LED, which boosts its demand in the market. This factor also facilitates the preference for automotive LED instead of conventional halogen automotive lamps. This aspect of the automotive LED also augments its demand in the economy cars segment, which works in favor of the market.
High prevalence of automotive LED in interior automotive lighting has been noted all over the world. In terms of exterior automotive lighting, a noteworthy uptake of automotive LED has been observed in the premium and high-end vehicle segment. Besides, manufacturers are now making considerable investments in innovation centers as well as advanced technologies, further stimulating growth of the automotive LED market.
Soaring demand for hybrid and electric vehicles is also elevating demand for automotive LED, as automakers are now focusing on attractive interiors which is a USP aspect of their products. Besides, governments of several countries now offer incentives for manufacturing of automotive LED in a bid to promote using energy-saving alternatives.
Market Segmentation
The worldwide automotive LED lighting market can be segregated on the basis of position, vehicle types and adaptive lighting.
The position-wise segments covered by the report are front, rear, side and interior.
The vehicle types mentioned in the report include passenger car, light commercial vehicle and heavy commercial vehicle (HCV).
The adaptive lighting types are rear adaptive lighting, front adaptive lighting, and ambient adaptive lighting. Adaptive headlights note the highest demand in the market, since they are used while driving on winding roads during twilight, at night, or in low-light conditions. These headlights are able to alert the drive of any potentially dangerous situations.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/automotive-led-lighting-market-2703
Regional Analysis
The regional analysis of automotive LED lighting market is being studied for region such as Asia pacific, North America, Europe and Rest of the World (RoW).
There is a high possibility of Europe and North America to collectively lead the LED lighting market, with respect to demand. Mounting sales of lightweight vehicles, expanding automobile industry and high focus on energy efficiency stimulates growth of the automotive LED lighting market in these regions. These regions are brimming with potential, given the introduction of latest technologies, such as organic LEDs (OLEDs) that generate homogenous light. In Europe, automakers like Jaguar are making use of automotive LED in their autonomous cars that have innovative applications. They are also trying to identify newer capabilities of automotive LED, which gives further push to market growth. Jaguar came up with a prototype autonomous vehicle that consists of two virtual eyes which makes eye contact with pedestrians so that their safety is ensured while crossing the road. Efforts of these types are providing significant boost to the automotive LED lighting market in North America as well as Europe.
APAC is touted to be among the top contenders in the global automotive LED lighting market. The region provides numerous scopes to well-known participants, most of whom are based in India and China. These renowned companies can be seen harnessing the market potential in these counites and are striving to expand their business. One of the most effective ways that the players adopt to claim a better position in the market is by making considerable investments in the ever-expanding automotive industry. For instance, Lumiled and OSRAM are some of the top players that are constantly indulging in innovative marketing hacks that put them ahead of their rivals in the region.
Top Vendors
Top vendors in the worldwide automotive LED lighting market include Koito Manufacturing Co.Ltd (Japan), Stanley Electric Co.Ltd (Japan), Koninklijke Philips N.V. (Netherlands), Tata Motors Limited (India), Toyota Motor Corporation (Japan), Osram Licht AG (Germany), Mercedes-Benz (Germany), Zizala Lichtsysteme Gmbh (Austria), Hyundai Group (South Korea), Magneti Marelli S.P.A (Italy), among others.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Report details
| Base Year | 2019 |
| Companies Covered | 15 |
| Pages | 100 |
Certified Global Research Member
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
