Global Automotive Lighting Market Size & Share is expected 8.1% CAGR Rise, Will Hit to USD 48.08 Billion globally by 2026 | Automotive Lighting Industry Trends & Forecast
Polaris Market Research provide a deep analysis of Automotive Lighting which evaluates business solutions, assesses, research and development, application, benefits, advantage, scope, and operations. This report offers an in-depth analysis and development of industry major manufacturers, key drivers, opportunity, challenge, international suppliers also deep study on risks and entry barriers. It also offers competitive analysis on the latest technology, trend, innovation, future scope, Industry Share, sales, revenue generation, investment analysis, and overall business scenario.
These studies also involve the important achievements of the market, research & development, new product launch, regional growth, leading competitors over the universal and local scale. The industry report analysis and insights of manufacturers steering growth, revenue, share, supply, opportunity, challenges, and restrain development. It also the expansion of Industry regional as well as global fats and figure.
The global Automotive Lighting Market size was valued at USD 23.98 Billion in 2017 and is anticipated to reach USD 48.08 Billion by 2026, to grow at a CAGR of 8.1% during the forecast period.
The expanding global automotive industry, along with increasing demand for passenger cars majorly drives the Automotive Lighting Market growth. The adoption of advanced automotive lighting solutions has increased significantly owing to increasing awareness regarding use of energy efficient lighting solutions, and growing need to improve road safety. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and increasing adoption of eco-friendly lighting solutions would provide growth opportunities for automotive lighting market in the coming years.
The use of LED lights in automobiles has increased significantly and these lights are gradually replacing halogen and xenon lights for headlamps and daytime running lights. LED technology is being used for rear lights, brake lights, indicators and daytime running lights owing to their reduced costs and greater flexibility. High brightness white LEDs offer improved visibility, are smaller in size, and offer controlled illumination pattern to avoid dazzling other drivers on the road.
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What Does the Report Include?
- Status of the Automotive Lighting Market in world view.
- Top companies operating in the market.
- Import-Export policies regarding the products/services in the Automotive Lighting Market.
- Research and development activities.
- Major research agenda in industry segments.
- Segmentation according to application, type, and geography.
- Comparative study of the domestic and international prices of the products and services and related price fluctuations.
- Worldwide Automotive Lighting Market’s driving forces and roadblocks
In 2017, Asia-Pacific accounted for the highest share in the global automotive lighting market. Established automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The introduction of stringent government regulations regarding vehicular safety and use of eco-friendly lighting solutions accelerates the adoption of automotive lighting in the region. The economic growth in countries such as China, Japan, and India, rising living standards and growing disposable income further increases the demand of automobiles in the region. Expansion of global players into these countries to tap market potential boosts the Automotive Lighting Market Growth.
The leading companies profiled in the Automotive Lighting Market report include Osram GmbH, Koninklijke Philips N.V., Zizala Lichtsysteme GmbH, Magneti Marelli S.P.A., Stanley Electric Co., Ltd., Ichikoh Industries, Ltd., Hella KGaA Hueck & Co., Koito Manufacturing Co. Ltd., General Electric Lighting, and Valeo S.A. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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- Market Size & Forecast by Revenue
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Component, by Type, by Deployment Mode, by Vertical, and by Geography
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Moreover, the research reviewer has also explained the impact of the Covid-19 outbreak on the global Automotive Lighting Market and related factors including supply chain analysis, effect estimations on target market size growth rates in various scenarios, and the steps that major firms would take in reaction to the epidemic. The report then focuses on regional and application markets along with existing and future trends. The historical evaluation given in this report supports demand growth at the global, national, and regional levels. Web communities, online forums, surveys, and interviews are utilized to acquire data for the market study report.
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