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. The pressing demand for automotive LED lighting market can cause the expansion of the market through the assessment period. The high preference for automotive LED over traditional halogen automotive lamps can cause the automotive LED market to augment. In addition, the increase in cars utility can favor of the market. However, in recent times, the COVID-19 outbreak resulting in lockdown can slow down the expansion of the market in the years ahead.
Market Segmentation
- By position, the automotive LED lighting market segmented into front, interior, and rear, side. The integration of automotive LED lights in front and rear side of vehicles can boost the rise of the market.
- By vehicle type, the automotive LED lighting market segmented into passenger car, heavy commercial vehicle (HCV), and d light commercial vehicle. 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. The Adaptive headlight is observed to contribute largely to the expansion of the market in the years to come.
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Top Companies Profiled in Automotive LED Lighting Market Research Report:
Magneti Marelli S.P.A (Italy), Stanley Electric Co.Ltd (Japan), Koito Manufacturing Co.Ltd (Japan), Hyundai Group (South Korea), Toyota Motor Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Tata Motors Limited (India), Mercedes-Benz (Germany), Osram Licht AG (Germany), and Zizala Lichtsysteme Gmbh (Austria) among others.
Regional Analysis
In APAC, the increase in the prevalence of automotive LED lights for interior automotive lighting application can cause the expansion of the regional market. The rise of the exterior automotive LED lighting can be attributed to the notable rise in the revenue generation of the regional automotive LED market. The growing incorporation of automotive LED in premium and high-end vehicles can cause the automotive LED lighting market in India and other growing regions of APAC to rise. In addition, the presence of reputed manufacturers of automotive LEDs and their considerable investments in innovations can boost the regional automotive LED market rise in the years to come.
In North America, the increase in demand for electric and hybrid vehicles can cause rise in the demand for automotive LED. Automakers are focusing on attractive interiors. This can also promote the rise of the market across the analysis period. Similar growth drivers are observed for Europe automotive LED market.
Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Automotive LED Lighting Market Segmentation
- Automotive LED Lighting Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
More…
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