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The Global Automotive Lighting Market Size is expected to reach $39 billion by 2022, rising at a growth rate of 7.7% CAGR during the forecast period.
Lighting solutions in the vehicle consists of signalling and lighting devices fitted to the front, rear, sides or interior of the vehicle. Different lighting solutions helps the driver to increases the conspicuity of the vehicle, allowing the drivers to keep a watch on other vehicles and pedestrians. In addition, emergency vehicles such as ambulance and police van are equipped with distinctive lighting solutions to warn drivers and indicate priority of movement in traffic. The technological advancements in the form of automotive lighting by the automakers enable the drivers to clearly visualize the in and out of the vehicle, especially in extreme weather conditions.
Increasing security concerns paired with rising automotive production would increase the demand for technologically advanced lighting solutions in the years to come. In addition, with rising safety awareness paired with increasing purchasing power could provide ample growth opportunity for the automotive industry, which would create substantial market growth for the lighting sources used in the vehicles. The Global Automotive Lighting market is segmented based on technology, application, vehicle type and sales channel type. Halogen, xenon and LED 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 global automotive lighting market, and is expected to register fastest growth during the analyzed period. For better understanding of the market penetration of Automotive Lighting the market is analyzed based on geographies and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Germany, France, U.K., Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Malaysia, Thailand and rest of Asia-Pacific) and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Morocco and rest of LAMEA). In 2014, Asia-Pacific dominated the market with maximum share in terms of revenue.
Substantial growth in the automotive production in countries such as India and China is largely contributing to the growth of automotive lighting in the Asia-Pacific region. In 2015, total number of passenger cars produced in China reached approximately 21.1 million, compared to approximately 3.2 million and 7.8 million in India and Japan respectively. 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.