A new market study, titled "Automotive LED Lighting Market Research Report- Forecast 2022 ” has been featured on Market Research Future
Market Research Future (MRFR) expects the global automotive light-emitting diode (LED) lighting market to achieve an approx. CAGR of 9% during the forecast period (2016-2022). It could reach a rough valuation of USD 20 Billion by 2022.
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Primary Drivers and Top Challenges
The cost-effectiveness is of the most appealing qualities of an automotive LED, which boosts its demand in the market. This factor also facilitates the preference for automotive LED instead of conventional halogen automotive lamps. This aspect of the automotive LED also augments its demand in the economy cars segment, which works in favor of the market.
High prevalence of automotive LED in interior automotive lighting has been noted all over the world. In terms of exterior automotive lighting, a noteworthy uptake of automotive LED has been observed in the premium and high-end vehicle segment. Besides, manufacturers are now making considerable investments in innovation centers as well as advanced technologies, further stimulating growth of the automotive LED market.
Soaring demand for hybrid and electric vehicles is also elevating demand for automotive LED, as automakers are now focusing on attractive interiors which is a USP aspect of their products. Besides, governments of several countries now offer incentives for manufacturing of automotive LED in a bid to promote using energy-saving alternatives.
Market Segmentation
The worldwide automotive LED lighting market can be segregated on the basis of position, vehicle types and adaptive lighting.
The position-wise segments covered by the report are front, rear, side and interior.
The vehicle types mentioned in the report include passenger car, light commercial vehicle and heavy commercial vehicle (HCV).
The adaptive lighting types are rear adaptive lighting, front adaptive lighting, and ambient adaptive lighting. Adaptive headlights note the highest demand in the market, since they are used while driving on winding roads during twilight, at night, or in low-light conditions. These headlights are able to alert the drive of any potentially dangerous situations.
Regional Analysis
The regional analysis of automotive LED lighting market is being studied for region such as Asia pacific, North America, Europe and Rest of the World (RoW).
There is a high possibility of Europe and North America to collectively lead the LED lighting market, with respect to demand. Mounting sales of lightweight vehicles, expanding automobile industry and high focus on energy efficiency stimulates growth of the automotive LED lighting market in these regions. These regions are brimming with potential, given the introduction of latest technologies, such as organic LEDs (OLEDs) that generate homogenous light. In Europe, automakers like Jaguar are making use of automotive LED in their autonomous cars that have innovative applications. They are also trying to identify newer capabilities of automotive LED, which gives further push to market growth. Jaguar came up with a prototype autonomous vehicle that consists of two virtual eyes which makes eye contact with pedestrians so that their safety is ensured while crossing the road. Efforts of these types are providing significant boost to the automotive LED lighting market in North America as well as Europe.
APAC is touted to be among the top contenders in the global automotive LED lighting market. The region provides numerous scopes to well-known participants, most of whom are based in India and China. These renowned companies can be seen harnessing the market potential in these counites and are striving to expand their business. One of the most effective ways that the players adopt to claim a better position in the market is by making considerable investments in the ever-expanding automotive industry. For instance, Lumiled and OSRAM are some of the top players that are constantly indulging in innovative marketing hacks that put them ahead of their rivals in the region.
Top Vendors
Top vendors in the worldwide automotive LED lighting market include Koito Manufacturing Co.Ltd (Japan), Stanley Electric Co.Ltd (Japan), Koninklijke Philips N.V. (Netherlands), Tata Motors Limited (India), Toyota Motor Corporation (Japan), Osram Licht AG (Germany), Mercedes-Benz (Germany), Zizala Lichtsysteme Gmbh (Austria), Hyundai Group (South Korea), Magneti Marelli S.P.A (Italy), among others.
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https://www.marketresearchfuture.com/reports/automotive-led-lighting-market-2703
Market Research Future (MRFR) in its report on the Global Automotive Light-Emitting Diode (LED) Lighting Market reveals different causes that can influence in the market across the stud period.
Coronavirus Disease Outbreak analysis and lockdown impact on the automotive LED lighting market impact on the market are provided with report.
As per MRFR analysis, the expansion of the automotive LED lighting market can be at about 9% CAGR in the forecast period (2016-2022).
The automotive LED lighting market value can rise at above USD 20 Billion by 2022.The cost-effectiveness of automotive LED is observed as the major booster for the expansion of the automotive LED lighting market in the years to come.
However, in recent times, the COVID-19 outbreak resulting in lockdown can slow down the expansion of the market in the years ahead.
High rate of incorporation of automotive LED lighting solutions in all type of vehicles can contribute largely to the expansion of the market in the years ahead.By adaptive lighting types, the automotive LED lighting market segmented into ambient adaptive lighting, front adaptive lighting, and rear adaptive lighting.
Global Automotive Interior LED Lighting Sales Market Research Report targets manufacturers, organizations, authorities, leaders and possibly automotive interior LED lighting sales speculators and analysts.
The report throws light on notable company characteristics such as competitive status, status, parts, store size, market share, profit, development potential and progress.The report also incorporates the changing factors of the business industry, modern models, components favoring development, limitations in presentation, and hurdles that may positively or negatively affect the improvement of the automotive market globally.
This report analyzes the above factors at a temporal level and contains high expectations for the gauge time to 2025.Request a copy of this report.https://www.researchforetell.com/reports/152248/global-automotive-interior-led-lighting-sales-market-report-2021 / requestThe Automotive Interior LED Lighting Sales Market 2021 Report includes financial, political, and natural studies of the components that influence the Automotive Interior LED Lighting Sales industry.
The report contains research on progress related to creation, application, etc.The report also delivers the background research in and out of various countries effectively linked to the automotive LED interior lighting sales creation.
A professional study of limitations, various issues and cost adequacy affecting the automotive interior LED lighting sales market.
By determining the opportunities, the ultimate fate of automotive LED interior lighting sales and their limits will be made much easier in this report.Global Automotive Indoor LED Lighting Sales Market Segmentation :Classification by type 12V 24V etcSegments by application Ugly secondary marketby company Greek OSRAM Magneti Marelli Koito Works Stanley Electric Philips Royal valeo Texas Instruments Changzhou Xingyu Automotive Lighting System20% off this reporthttps://www.researchforetell.com/reports/152248/global-automotive-interior-led-lighting-sales-market-report-2021 / discountReport scopeThe Market Characteristics section of the report defines and describes the market.The Market Size section shows the market size ($b) which includes both the historical growth of the market, the impact of the Covid 19 virus, and recovery forecasts.Market segmentation divides the market into sub-markets.Regional and Country Analysis section analyzes regional and regional market size and compares historical and projected growth.
