The automotive lighting market is expected to reach USD 34.65 billion by 2022, according to a new study by Grand View Research, Inc. Growing safety concerns and stringent government regulations are expected to drive demand over the next seven years. Rising awareness among consumers regarding the importance of adaptive light solutions such as glare-free high beam and dynamic bend lights is also anticipated to fuel exterior lighting demand.
Increasing vehicle production and sales combined with technological advancements are also estimated to accentuate demand over the forecast period. Rising disposable income coupled with increasing concerns for energy efficiency is estimated to fuel demand.
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Further key findings from the study suggest:
In 2014, halogen had a significant share of over 66% in terms of revenue followed by xenon and LED. It is a prominent mode of illumination in vehicles and is being used since many years due to its easy availability, low purchasing cost, and low replacement cost.
Automotive LED market is estimated to exhibit substantial growth growing at a CAGR of over 12% from 2015 to 2022. Growing environmental concerns along with increasing fuel prices pose a major challenge for automakers. Thus, vendors are turning towards eco-friendly LED technologies owing to its high power, efficiency, and reduced CO2 emissions. These lights are finding various applications in headlights, turning lights, Daytime Running Lights (DRL), parking lights, and brake lights. Longer self-life of LEDs gives it a major advantage over halogen and xenon lights. Presently, OLED lights are introduced with improved design and optimum light bearing capacities.
Front lighting industry accounted for over 70% of the overall revenue in 2014 and is anticipated to sustain its position by 2022. Adaptive headlights are an active safety feature designed to enhance the drivers’ visibility in low illumination conditions. These adaptive headlights comprise advanced features such as automatic rotation headlights in sync with sensor response and automatic brightness. Extreme weather conditions in North America and European regions highlight the obligatory need for fog lamps in automobiles, thus driving demand across this segment.
Table Of Content
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Global automotive lighting - Industry snapshot and key buying criteria, 2012 - 2022
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Chapter 3. Global Automotive Lighting Industry Outlook
3.1. Market segmentation
3.2. Market size and growth prospects
3.3. Global automotive lighting value chain analysis
3.4. Technology landscape
3.5. Regulatory landscape
Chapter 4. Global Automotive Lighting Technology Outlook
Chapter 5. Global Automotive Lighting Application Outlook
Chapter 6. Global Automotive Lighting Regional Outlook
6.1. North America
6.3. Asia Pacific
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