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The ongoing technological innovation in the automotive lighting industry has helped the drivers to drive safely at nights and in extreme weather conditions. India and China are the fastest emerging economies in the Asia-Pacific region, indicating ample growth opportunities for the development of advanced lighting sources in the automotive industry.
Substantial growth in the automotive production in countries such as India and China is largely contributing to the growth of the market in the region. In 2015, production of passenger car in China reached approximately 21.1 million compared to 3.4 million and 7.8 million in India and Japan respectively.
Increasing disposable income has enabled consumers to purchase premium and luxury vehicles, which would increase the demand for energy efficient LED lighting solutions in the automotive industry. In 2012, sales of premium cars in China stood at 1.25 million; China is expected to surpass U.S. to become the largest market by 2020.
The Asia-Pacific Automotive Lighting market is segmented based on technology, application, vehicle type and sales channel type. Halogen, xenon and LEDs are the prominent lighting sources used in all vehicles. Currently, halogen segment dominates the automotive lighting market; LED, on the other hand, is expected to register fastest growth, owing to increasing adoption of energy efficient lighting source in the vehicles.
Adoption of advanced lighting sources in the passenger car segment dominated the market with maximum share in terms of revenue. Heavy truck segment on the other hand is expected to register fastest growth during the forecast period. Based on sales channel, the report segments the market into OEM and aftermarket. In 2015, OEM sales segment dominated the Asia-Pacific automotive lighting market, and is expected to register the fastest growth during the analyzed period.
For better understanding of the market penetration of Automotive Lighting the market is analyzed based on countries including China, Japan, India, South Korea, Malaysia, Thailand and rest of Asia-Pacific. In 2014, China dominated the market with maximum share in terms of revenue. Increasing vehicle ownership would offer wide growth opportunity for the industry in the region. In 2013, vehicle ownership in Japan stood at 600 vehicles per 1,000 people, compared to 80 cars per 1,000 people in China, and 25 vehicles per 1,000 people in India.
The report also highlights few prominent players operating in the Automotive Lighting market. Key companies profiled in the report include Royal Philips N.V., Ichikoh Industries Ltd., Magneti Marelli S.P.A., General Electric Company, Osram Licht AG, Valeo S.A., Stanley Electric Co. Ltd., Zizala Lichtsysteme GMBH, Koito Manufacturing Co., Ltd. and Hella KGaA Hueck & Co.