The global automotive lighting market is expected to reach USD 48.11 Billion market size by 2030, as per new research report published by Confianza market research & consultancy. As per the study, the automotive lighting industry is severely affected due to the COVID19 pandemic as most of the manufacturing units in China, Japan & Taiwan are closed for prolonged period, mainly due to sharp-decline in demand as well as lock down in various countries.
Key players in this market include Stanley Electrics, Hella, Valeo, Hyundai Mobis, Philips, General Electrics, Zizala Lichtsysteme, Valeo Group, Osram, Tungsram. Among others. These companies mostly focus on gaining supply contract from automotive manufacturer & technological improvement in product range in order to gain market share. The demand from aftermarket is also considerably high in this market, however, the aftermarket automotive lighting market is captured by generic players that offer products at very low prices.
The report provides in-depth insights about the key trends in the global automotive lighting industry analysis including porter’s analysis, PEST analysis, industry value chain analysis, competitive landscape.
Download free sample report, purchase full report or read detailed analysis here: https://confianzaresearch.com/industry-analysis/automotive-lighting-market/
- Market Drivers:
- Increasing demand of adaptive front lighting in ADAS
- Government regulations for standard lighting fitment in vehicles
- Increasing penetration of LED & OLED lights
- Market Restraints:
- High product prices
- Growing attractiveness towards aftermarket fitment
- Low penetration of premium products in developing countries
Key Research Findings
- The automotive LED lights accounted for the largest market share in 2019, and are anticipated to grow at highest CAGR as adoption of these lights is growing exponentially in recent years.
- The two-wheeler segment accounted for largest market share followed by passenger cars
- 48V electric scooter segment is gaining high attention in recent years as the segment offers better performance & longer operational hours in single charge.
- North America is the largest market for all type of automotive lights followed by Europe and APAC market.
- Technology Insights (Revenue, USD Million, 2017 – 2030)
- Vehicle Insights (Revenue, USD Million, 2017 – 2030)
- Passenger cars
- Light commercial vehicles
- Application Insights (Revenue, USD Million, 2017 – 2030)
- Fog lights
- Signal lights
- Brake lights
- Driving lamps
- Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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About Confianza Market Research & Consultancy
Confianza Market Research & Consultancy is a global market intelligence services provider company based in Pune, India. It has a database of more than 3000 highly informative market research reports from 35+ different industries worldwide. Confianza monitors & timely updates data for 56+ countries and 5 regions worldwide. The company aims at providing reliable, affordable and accurate market research services to companies of all sizes ranging from fortune 500 companies to small start-ups. Confianza’s explanatory and insightful reports help companies to streamline & strategize their business activities in order to gain an edge over competitors.
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