The global Automotive Lighting System Market
share report provides numbers for applications and regional segments of the
industry covering historical as well as forecast data for decision makers. Automotive
Lighting System Market size is expected to increase during the forecast period
owing to the rising vehicle production and growing lighting applications,
specifically in passenger vehicles.
Increased use of high-efficiency LED and
rising concerns about road safety along with government regulations for
lighting are some of the factors driving the automotive lighting system market
share from 2017 to 2024. Increasing buying power of the consumers has increased
the demand for advanced and sophisticated technologies such as Daylight Running
Lights (DRLs) and Advanced Front-lighting System (AFS).
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Factors
restraining the automotive lighting system market growth include high R&D
cost and fluctuating prices of raw materials. The technological innovations
require huge investment, which will hamper the R&D development and limit
the industry growth.
Based on application, the automotive lighting system market
is segmented into exterior lighting and interior lighting. The exterior
lighting can be categorized into fog lights, head lights, tail lights, side
lights, Daytime Running Lights (DRL), Center high mount stop lamps (CHSML), and
others. Others include brake lights, indicators, license plates, reverse
lights, and side view mirror indicators. The interior lighting segment consists
of glove box, dashboard, reading lights, rear view mirror interior lights, and
dome lights. The automotive lighting system market is dominated by exterior
lighting and is expected to continue its domination over the forecast period
owing to the application of these lights in the driver safety.
Based on technology, the industry is segmented into LED,
Xenon/HID, and halogen/incandescent. The LED segment is expected to showcase
the highest market growth. This growth can be credited to the benefits offered
by LEDs such as lower energy consumption and temperature, bright illumination,
and flexibility in designing. These features are leading to growth in the
adoption of LED lights in automobile interior.
The automotive lighting system market is segmented by
vehicle type into passenger cars, light commercial vehicles, and heavy
commercial vehicles. The passenger cars is anticipated to grow at a higher rate
during the projected period. Growing demand for luxury, ambiance, and comfort
as well as pedestrian and passenger safety regulations will positively impact
the industry growth over the forecast timeline.
The manufacturers in the automotive
lighting system market include Koninklijke Philips N.V., General Electric (GE),
Hella KGaA Hueck & Co., Magneti Marelli, Osram, Stanley Electric, Koito
Manufacturing Co., Ichikoh Industries, Ltd., and Zizala Lichtsysteme GmbH. The
key strategies implemented by the companies are expanding business by acquiring
other competing companies. In July 2016, Osram acquired the U.S. automotive
lighting startup, Novità Technologies.
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