Global Automotive LED Lighting Market 2016-2020
- Published: Jan 2016
- Pages: 53
- SKU: IRTNTR8106
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This industry research report includes a detailed segmentation of the global automotive LED lighting market by application type (interior lighting and exterior lighting). It also outlines the market shares for key regions such as the APAC, EMEA, and the Americas. The leading vendors analyzed in this report are Hella, Koito, Magneti Marelli, and Valeo.
Market outlook of the global automotive LED lighting market
Technavio’s market research analyst predicts the global automotive LED lighting market to witness rapid grow at an impressive CAGR of more than 18% by 2020. The introduction of innovative technologies to bolster safety and performance along with declining component prices will augment the sales of automotive LED lighting products during the forecast period.
The growing importance of lighting in vehicle design is the key driver for the growth of this market. The use of lighting in automobiles will play a critical role in the decision-making process for end-users. Since the LED lights used in automobiles are similar in terms of product design, many car manufacturers are seeking ways to differentiate their products by developing innovative energy-saving and ambient lighting techniques. The advent of such technologies will boost the market for premium vehicles during the estimated period.
Segmentation by application and analysis of the automotive LED lighting market
- Exterior lighting
- Interior lighting
In this market study, analysts have estimated the exterior lighting segment to be the largest market segment during the forecast period. Much of this segment’s growth can be attributed to the revenue generated from the sale of car accessories like headlamps, rear lamps, fog lamps, and side lamps. Furthermore, the manufacturers’ the growing focus on safety norms and lowering costs will aid in the growth of this market segment during the predicted period.
Geographical segmentation of the automotive LED lighting market
The APAC region currently accounts for nearly 45% of the total market share and will be the largest market for automotive LEDs during the forecast period. The prospects for growth in this region would be driven by factors like the presence of growing economies, rising population, rising disposable income of the middle class, and changing consumer lifestyles.
Competitive landscape and key vendors
The global automotive LED lighting market is highly fragmented with the presence of many global and regional vendors. The market is highly dependent on automobile sales and is driven by the increase in automotive production. The market has seen constant innovations and development of new products, which has resulted in intense competition among the automotive lighting manufacturers.
The leading vendors in the market are -
- Magneti Marelli
Other prominent vendors in the market include Depo Auto Parts, ICHIKOH, Neolite, OSRAM, SL Corporation, and Ta Yih Industrial.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global automotive LED lighting market?
- What are the key market trends impacting the growth of the automotive LED lighting market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global automotive LED lighting market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global automotive LED lighting market?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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