Automotive

Next-Generation Automotive Lighting Market is Expected to Reach $12,080.7 Million by 2025

bisresearch reports

Next-Generation Automotive Lighting Market is Expected to Reach $12,080.7 Million by 2025

In the automotive industry, lighting plays a critical role and its applications in automotive sector is rising rapidly, powered by safety and aesthetics. The rapid technical progress in the automotive lighting field shows that basic light sources based on incandescent and gas release bulbs have shifted to modern day technologies such as light emitting diodes (LEDs), laser technology, and organic light emitting diodes (OLEDs). The vehicle industry is highly involved in incorporating LED lamps into cars as these lamps use less energy and last longer than halogen and high intensity discharge (HID) lamps. In addition, LED lighting offers longevity and power, which makes it superior to all other lighting systems.

The next-generation automotive lighting market was estimated at $6,783.4 Million in 2019 and is projected to grow at a CAGR of 13.56% during the forecast period from 2020-2025.Development of advanced adaptive driving beam (AADB) and advent of new services for automotive lighting are the opportunities that can further propel the market growth. The three major types of technologies analyzed include Halogen, Xenon, Laser, and LED. The products covered in the study include adaptive lighting, ambient lighting, flexible lighting, and communicable lighting, among others.

The outbreak of COVID-19 now has resulted in a significant decline both in vehicle production and in sales. This reduction is expected to negatively affect the demand for automotive lighting. However, businesses have taken different actions to counter the detrimental consequences of the epidemic. Via part-time work contracts, Valeo Group varied costs across all plants in April 2020. The company has been varying its support expenses such as R&D and management. Both investments and costs, that are not important to business sustainability, have now been eliminated.

The next generation automotive lighting market research provides a detailed perspective on the different types of products, their applications, value estimation, among others. The principal purpose of this market analysis is to examine the automotive lighting market in terms of factors driving the market, restraints, trends, and opportunities, among others.

The report further considers the market dynamics, supply chain analysis, and the detailed product contribution of the key players operating in the market. The next generation automotive lighting market report is a compilation of different segments, including market breakdown by product type, application, region, and country.

The next generation automotive lighting market, based on product type, has been segmented into adaptive lighting, flexible lighting, ambient lighting, and communicable lighting. The ambient lighting segment is expected to maintain its dominance during the forecast period in the next generation automotive lighting market.

The next generation automotive lighting market, based on technology type, has been segmented into halogen, xenon, LED, and laser. The LED segment is expected to maintain its dominance during the forecast period in the next generation automotive lighting market.

The next generation automotive lighting market, by application, has been segmented into passenger and commercial. The passenger segment dominated the next generation automotive lighting market in 2020 in terms of value and is expected to maintain its dominance through the forecast period.

Based on the region, the next generation automotive lighting market has been segmented into Asia-Pacific & Japan, Europe, the U.K., China, North America, and Rest-of-the-World. Each region is segmented into countries. Data for each of these regions and countries is provided by product type and application.

Competitive Landscape

The next generation automotive lighting market competitive landscape consists of different strategies undertaken by key players across the industry to gain traction and market share presence. Some strategies adopted by the service providers are new product launches, business expansions, mergers, partnerships, and collaborations. Among all these strategies adopted, business expansion is the popular choice of the strategy implemented in the micro mobility market. Some of the most prominent ecosystem players are Magneti Marelli S.p.A., HELLA GmbH & Co. KGaA, OSRAM GmbH, Valeo Group, KOITO Manufacturing Co. Ltd., Hyundai Mobis Co. Ltd., Varroc Group, Magna International Inc., Flex-N-Gate Corporation, DRÄXLMAIER GROUP, Sigma International, J W SPEAKER CORPORATION, Faurecia S.A., LG Innotek Co., Ltd., and Stanley Electric Co., Ltd.

Some of the notable developments are:

• Valeo Group partnered with Cree, Inc. in 2018 to develop a HD LED solution for automotive lightings for adaptive lighting beams.

• Magneti Marelli S.p.A., in collaboration with Daimler AG, has developed a lighting technology which improves protection by supplying the driver with visual awareness in the front region of the car. The first Daimler AG car with this system was launched in mid-2018.

• OSRAM GmbH launched a new generation of automotive LEDs with better heat management systems in September 2020.

Key Questions Answered in this Report:

• What are the key drivers and challenges in the next generation automotive lighting market?

• How does the supply chain function in the next generation automotive lighting market?

• What will be the potential impact of COVID-19 on the market?

• Which product segment is estimated to witness the maximum demand growth in the next generation automotive lighting market during 2019-2025?

• Which are the key application areas for which different lighting technologies types may experience high demand during the forecast period, 2020-2025?

• Who are the key suppliers of different lighting technologies and its raw materials?

• What are the business and corporate strategies adopted by manufacturers involved in the next generation automotive lighting market?

• Which regions and countries are leading in terms of consumption of the next generation automotive lighting market, and which of them are expected to witness high demand growth from 2019 to 2025?

Who stands to gain from this report?

Smart Lighting Providers
Electrical & Electronic Device Suppliers
Telecommunication Providers
Cloud Service Providers
Professional and Managed Service Providers
Technology Standard Providers
Technology Patent/License Providers
Investors

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