Portland, OR -- (SBWIRE) -- 02/20/2018 -- The automotive lighting market is currently witnessing a steady growth due to the growing automotive production across the country. Growing population and increasing purchasing power mainly contribute to the market growth. Automotive lighting plays a substantial role in automobile safety by increasing the conspicuity of the vehicle. In addition, the rising emphasis on vehicle safety and government regulations regarding automotive lighting systems further stimulate the market growth.

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India Automotive Lighting Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $3.1 billion by 2022, registering a CAGR of 5.6% during the period 2016 to 2022. LED automotive lights have gained increased demand from customers owing to their long shelf life and low temperature. The passenger vehicle segment is projected to generate the highest revenue, owing to maximum sale of lights under this category.

The India automotive lighting market is segmented based on lighting technology, application, sales channel type, and vehicle type. On the basis of application, it is divided into front lighting, rear lighting, side lighting, interior lighting, and fog lamps. Front lighting finds the largest application in the automotive industry, followed by fog lamps. Features such as automatic rotation, automatic brightness modules, sensor response and government regulations as well as increasing demand related to efficient front lighting drive the market growth for front lighting application. Owing to increasing preference towards aesthetic looks, the interior lighting segment is also gaining pace in the market.

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Key Findings of India Automotive Lighting Market Study:

- The India automotive lighting market is anticipated to witness steady growth during the forecast period, owing to rising concerns regarding road safety and growing automobile production.

- Halogen technology is expected to continue its dominance due to its cost-effectiveness.

- Passenger vehicles are anticipated create more demand for automotive lighting products compared to commercial vehicles during the forecast period.

- Market players may launch innovative featured products to achieve a competitive edge on their rivals.