Automotive Lighting Market to WitnessRemarkable Growth Owing to Increasing Popularity of Luxury Vehicles Worldwide
Theincreasing demand for adaptive lighting is expected to augment the automotive lightingmarket size, says Fortune Business Insights™, in their recentreport publication. Automotive lighting is a system comprising of signaling andlighting devices used on the sides, or rear, or front of motor vehicles. Thelighting system in vehicles helps to increase its visibility under low lightconditions, hinting pedestrians, and other drivers of its presence to maintaina safe travel distance. The report is titled, “Automotive Lighting Market Size,Share & Industry Analysis, By Technology Type (LED, Halogen, Xenon), ByApplication Type (Front Lighting, Rear Lighting, Interior Lighting, SideLighting), By Vehicle Type (Passenger Cars, Commercial Vehicles) Others andRegional Forecast, 2019-2026,” and provides a 360-degree overview of themarket.
Objectives of the Report
Thereport on the automotive lighting market offers a comprehensive overview of themarket and its growth trajectories. This includes automotive lighting markettrends, drivers, restraints, challenges, and opportunities. Additionally, thereport throws light on the segmentation of the market based on factors such astechnology type, application type, vehicle type, and geographies. Furthermore,the report offers interesting insights into the market and other key industrydevelopments that have a positive impact on the overall market.
For more information visit :
https://www.fortunebusinessinsights.com/automotive-lighting-market-101978
Major Growth Drivers:
Stringent Government Regulations on Road Safety to Bode Well forMarket
Lightingplays a vital role in automobiles to run at night or in bad weather conditionswithout any risk. It helps to increase the visibility and provide comfort tothe driver and pedestrians to locate an approaching vehicle to maintain a safedistance. Automotive lighting manufacturers have developed advanced lightingssuch as adaptive front lighting system, matrix beam, and pixel lighting for usein luxury vehicles. Analysts at Fortune Business Insights™ say, “This will makedriving more comfortable on one side and ultimately add to the overall marketsize in the forecast period.”
Theincreasing demand for safety and better visibility in automobiles havepropelled the demand for automotive lighting. Additionally, the rise inawareness about road safety and government regulations on safe driving hasadded boost to the automotive lighting market growth. As per the current industrytrends, the market is dominated by the LED segment on account of the energyefficiency and low cost of implementation. The advancement in technology andthe utilization of laser and LED technology in modern vehicles are likely tocreate lucrative market opportunities in the automotive industry in the yearsto come.
Regional Analysis
Presence of Major Automotive Manufacturers will Help Asia PacificDominate Market
Asper geographical segmentation is concerned, the global automotive lightingmarket is categorized into the regions of Asia Pacific, Europe, North America,and the Rest of the world. Each of these regions is further categorized basedon nations. Among these, Asia Pacific is holding the dominant automotivelighting market share in terms on account of the increasing purchasing powerand outflow of opportunities in automotive companies. Additionally, thepresence of automobile giants, coupled with the easy access to raw materials,will help this region to continue dominating the market in the forecast periodas well.
Onthe other side, the European market for automotive lighting is likely towitness significant growth in the coming years on account of the increasingdemand for automobiles that suffices to the government norms. In addition tothis, the rise in the adoption of reverse lights, interior lights, brakelights, and signal indicators are also promoting growth in the European market.
Request a Sample Copy of the Research Report:
https://www.fortunebusinessinsights.com/enquiry/sample/automotive-lighting-market-101978
Competitive Landscape –
Investment in Research and Development for Interior Lighting ofLuxury Vehicles to Intensify Competition
Playersoperating in the automotive lighting market are emphasizing on geographicalexpansion for strengthening their position in the market. Manufacturers arealso investing huge sums into research and development of advanced lightingsystems in the new SUVs and the latest automobiles for enhancing the look ofthe vehicle while providing decent lighting in the interiors of luxuryvehicles. They are also entering into strategic collaborations to collectivelycontribute to the overall automotive lighting market revenue in the forthcomingyears. These collaborations include merger and acquisition, partnerships,contracts and agreements, and others.
Major Automotive Lighting Market Manufacturers are as follows:
- General Electric Co.
- Hyundai Mobis
- Royal Phillips Electronics
- SAMSUNG ELECTRONICS Co., Ltd
- Zizala Lichtsysteme GmbH
- Hella KGaA Hueck & Co
- Magneti Marelli S.p.A
- ICHIKOH INDUSTRIES LTD
- Other players
Speak ToAnalyst:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-lighting-market-101978
Key Industry Development of the Automotive Lighting MarketInclude:
February 2020 – A new facility was opened byMarelli in Turin, hosting the research and development center for automotivelighting of the company. This facility will focus on Lighting and BodyElectronics (LBE) and Sensors development. The main objective of ADVANCEDDriver Assistance Systems (ADAS).
About Us
Fortune Business Insights(TM) offers expert corporateanalysis and accurate data, helping organizations of all sizes make timelydecisions. We tailor innovative solutions for our clients, assisting them toaddress challenges distinct to their businesses. Our goal is to empower ourclients with holistic market intelligence, giving a granular overview of themarket they are operating in.
Contact Us:
Fortune Business Insights(TM) Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
