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Consumers interest in high-tech vehicles is increasing due to awareness and promotional activities conducted by the automotive industry in the Middle East, Latin America and Africa. Rising safety concerns among drivers at night and extreme weather condition are the factors driving the demand for technologically advanced and energy efficient LED lighting source. Traditional lighting sources consume about 20 percent of the power, wherein LED lightings would help the end users to save up to 40 percent of energy annually. Government initiatives pertaining to the CO2 emission from vehicles, would further driver the automakers to equip vehicles with LED lighting sources.
Additionally, increasing automotive production in countries such as Brazil and South Africa would add to the overall revenue generation of the automotive lighting industry. According to OICA correspondents survey, in 2015, 2.1 million passenger cars were produced in Brazil, compared to 341,025 in South Africa. In addition, for better understanding of the market penetration of Automotive Lighting the market is analyzed based on countries including Brazil, Argentina, UAE, Saudi Arabia, South Africa, Morocco and rest of LAMEA. In 2014, Brazil dominated the market with maximum share in terms of revenue.
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.