Product Code: 51384
The global automotive lighting market is anticipated to register a CAGR of about 7.46% during the forecast period (2019 - 2024).
- Lighting, being a significant component in vehicles, plays an important role in vehicle safety. Automotive manufacturers are offering a variety of lighting options to increase vehicle visibility in the unfavorable weather conditions.
- The growing adoption of advanced technologies in automobile components and rising demand for the overall efficiency of the vehicle, is attracting the attention of OEMs towards vehicle lighting.
- Vehicle manufacturers are showing great interest in integrating the LED lights in the vehicles, as these lights consume less power and have a longer life as compared to Halogen & HID lights. Furthermore, LED lights offer durability and strength, high-quality light emitting diodes are superior to all other forms of lighting technology.
- There have been growing concerns for vehicular safety around the world. Exterior lighting forms an important part of vehicular safety. Various economies have come out with stringent lighting regulations that require a specific brightness or temperature of the headlamps. Automobiles in developed regions have already come up with a higher standard of lighting; but in order to save on costs, they often do not meet the regulations. This will cause the developing markets to rise at higher rates.
Scope of the Report
The global automotive lighting market has been segmented by vehicle type, application type, technology, and geography.
Key Market Trends
Advancement in Lighting Technologies in Automobiles, Specifically In LED Lights
The automobile manufacturers are working hard to improve both vehicle and passenger safety in night driving situations, as 30% of all vehicle accidents occur at night, and accident severity is much higher in the night than during the day.
The automotive manufacturers are developing new lighting technologies and are focusing on major lighting components such as headlights, and are entering into partnerships for being ahead in the competition. Headlights are a major factor in providing a safe environment for driving in the night. For instance, Volkswagen partnered with Hella, to develop IQ.LIGHT LED headlamps. The new luxury class Touareg SUV uses IQ.LIGHT-LED Matrix Headlamps and use 256 LEDs.
The vehicle manufacturers are designing, prototyping, and testing possibilities for external lighting. For example, Volkswagen is working on a technology which projects a pair of red warning lines onto the road when a car is reversing, letting pedestrians know where the danger zone is and presumably eliminating the problem of backing out of a high-fenced driveway into the path of a cyclist on the footpath.
Asia-Pacific Is Leading the Automotive Lighting Market
Geographically, the global automotive lighting market is led by Asia-Pacific, followed by Europe and North America respectively. Some of the major factors driving the growth of the market in the region are -
- A rise in demand for and sales of luxury cars
- Increase in the production of vehicles
- Increase in sales of and demand for commercial vehicles, owing to the growing logistics industry (primarily due to propelling e-commerce sector in the region) and the construction industry.
- A rise in the sale of low-cost vehicles, due to an increase in the disposable income of the middle-class consumers
- An increase in the number of accidents, especially at night
The European region has been recognized as a major region focusing on both passengers and pedestrian safety along with enacting safety standards for vehicles. The regional automotive manufacturers along with automotive component suppliers have been continually investing in the R&D of the safety technologies. With rapid technological advancements in the automotive industry, the European region is expected to play a major role in the global automotive lighting market. The region is home to numerous major manufacturers, such as Hella KGaA Hueck & Co., Philips, OSRAM Licht AG, Valeo, Zizala, Robert Bosch, and ZKW.
The global automotive lighting market is consolidated and is dominated by players like Stanley Electrics, Hella, Valeo, Hyundai Mobis, Philips, Zizala Lichtsysteme and General Electrics. The companies are entering into joint ventures and expanding their presence across the globe. For instance,
- Valeo announced the acquisition of 10.5% stake in Aledia, a technology startup company dedicated to the development of cutting-edge LED technology for general and automotive lighting.
- Koito Automotive inaugurated Hubei Koito Automotive Lamp Co. Ltd Plant in China.
- ZKW started production of the world's first laser beam headlamps for the BMW i8
- In 2017, Osram India launched new automotive lighting solutions called Rallye, which is compatible with two-wheelers, four-wheelers, and commercial vehicles. Also, the product is being manufactured in Osram's manufacturing plants in Germany and China.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Industry Attractiveness - Porter's Five Force Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Vehicle Type
- 5.1.1 Passenger Cars
- 5.1.2 Commercial Vehicles
- 5.2 By Application Type
- 5.2.1 Interior Lighting
- 5.2.2 Exterior Lighting
- 5.3 By Technology
- 5.3.1 Halogen
- 5.3.2 Xenon
- 5.3.3 LED
- 5.3.4 Others
- 5.4 Geography
- 5.4.1 North America
- 184.108.40.206 United States
- 220.127.116.11 Canada
- 18.104.22.168 Rest of North America
- 5.4.2 Europe
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 France
- 184.108.40.206 Russia
- 220.127.116.11 Italy
- 18.104.22.168 Rest of Europe
- 5.4.3 Asia Pacific
- 22.214.171.124 China
- 126.96.36.199 Japan
- 188.8.131.52 India
- 184.108.40.206 Rest of Asia-Pacific
- 5.4.4 South America
- 220.127.116.11 Brazil
- 18.104.22.168 Argentina
- 22.214.171.124 Rest of South America
- 5.4.5 Middle East and Africa
- 126.96.36.199 United Arab Emirates
- 188.8.131.52 Saudi Arabia
- 184.108.40.206 South Africa
- 220.127.116.11 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
- 6.2 Company Profiles
- 6.2.1 Koito Manufacturing Co. Ltd
- 6.2.2 Stanley Electric Co. Ltd
- 6.2.3 Valeo Group
- 6.2.4 Magneti Marelli S.p.A
- 6.2.5 HELLA KGaA Hueck & Co.
- 6.2.6 Tungsram
- 6.2.7 Hyundai Mobis
- 6.2.8 Lumax Industries
- 6.2.9 Osram
- 6.2.10 Philips
- 6.2.11 Zizala Lichtsysteme
7 MARKET OPPORTUNITIES AND FUTURE TRENDS