The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Exterior LED Lighting market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Exterior LED Lighting
The report offers actionable and valuable market insights of Automotive Exterior LED Lighting. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Exterior LED Lighting Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Automotive Exterior LED Lighting, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Exterior LED Lighting Market.
Lighting is an important functional aspect of any automobile as it enables the driver to drive the vehicle effectively. Lighting also plays an important part in the safety of the vehicle. The lighting components in the automobiles enable the driver to see in darkness and in adverse weather conditions such as intense fog or smog. Besides, the automotive lightings also provide guidelines and visibility for other vehicles and for the pedestrians, enabling them to see the size and direction of the vehicle and take precautionary measures to avoid collision.
Besides these functional aspects, the lighting in automobiles also add an aesthetic value and add to the gloss of the vehicle and make it more attractive. Presently, LED lightings are being used for the purpose of automotive lighting and have replaced the older technology of halogen lighting. Increasing demands for energy efficiency in vehicles and a number of government regulations regarding vehicle safety have made automotive exterior LED lighting popular.
The growing demand for automobiles around the world, increased customization demands from the consumers and ever growing production of automobiles are driving factors for this market. However, the high cost of LED lighting coupled with an astronomical research and development costs and an uncertain economic situation in European region are projected to restrict the market growth for automotive LED lighting during the assessment period.
The global automotive exterior LED lighting market is slated to touch a value of nearly US$ 1,243 Mn in the year 2022 and grow at a sluggish CAGR during the assessment period.
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Competitive Landscape Analysis: Global Automotive Exterior Lighting Market
The automotive lighting industry has been observing significantly growing interest of a number of players in high performance and superior design capabilities of automotive exterior LED lighting systems. This trend is expected to empower the automotive exterior LED lighting market supply chain with new companies that have exclusive expertise in the various aspects of automotive exterior LED lighting technology.
Philips, through the Vision LED series, became the first company to introduce the street-legal automotive exterior LED lighting system. While this automotive exterior LED lighting is supposedly the direct replacement for conventional incandescent bulbs, it is prominently designed for headlights with a high ambient and safety quotient.
Audi, one of the leading innovators in the automotive lighting technology and design space, has recently extended the R&D repertoire to include Matrix LED and OLED lighting systems. Koito Manufacturing Co. Ltd.
recently developed the LED Compact Bi-function that includes one LED light source switching intermittently between low beam and high beam.
Valeo SA offers a complete range of intelligent automotive exterior LED lighting architecture that also covers cameras, control units, sensors, and embedded software, besides headlamps.
Apart from the aforementioned companies, this report on the global automotive exterior LED lighting market provides strategic insights on other leading participants in the automotive exterior LED lighting market landscape.
Some of the profiled players include
- Osram Licht AG
- Koninklijke Philips N.V
- Hella KGaA Hueck & Co
- Magneti Marelli S.p.A.
- Stanley Electric Co. Ltd
- Texas Instruments Incorporated
- Zizala Lichtsysteme GmbH
- Lumax Industries Ltd
- Changzhou Xingyu Automotive Lighting Systems Co., Ltd.
- Imasen Electric Industrial Co., Ltd.
With an objective to provide light based assistance to drivers, Osram has proposed a conceptual futuristic automotive exterior LED lighting system – Oslon Boost HX. This revolutionary lighting system is supposed to perform the function similar to that of a projector, and would help drivers negotiate the road works, on-road hazards, or icy patches with more safety.
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Segmentation
Based on sales channel, the global market for automotive exterior LED lighting market has been bifurcated into OEM and aftermarket. On the basis of volts, the automotive exterior LED lighting market is divided into 12V and 14V segments. By region, the global automotive exterior LED lighting market into six key geographies – viz. North America, Latin America, Europe, Japan, APEJ, and MEA. FACT.MR analyzes each segment and sub-segment of automotive exterior LED lighting market in terms of revenue comparison, market share comparison, and Y-o-Y growth comparison.
Automotive Exterior LED Lighting Applications Surpass Headlamps to Light up the Diverse Automotive Lighting Range
The demand for automotive exterior LED lighting systems has been constantly proliferating in rear and front lighting functions of vehicles. Today, advanced headlamps and tail lights, fog lights, DRLs (daytime running lights), turn indicators, signal lamps, CHMSLs (center high mount stop lights), parking lights, and number plate lights in modern vehicles majorly reply on the automotive exterior LED lighting technology.
However, headlamps will remain a significant revenue shareholder in the automotive exterior LED lighting market through the foreseeable future.
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Key Question answered in the survey of Automotive Exterior LED Lighting market report:
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More Valuable Insights on Automotive Exterior LED Lighting Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Exterior LED Lighting, Sales and Demand of Automotive Exterior LED Lighting, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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