The automotive lighting market is projected to grow at a CAGR of 7.70% to reach $33.22 billion in 2020.
Dallas, TX -- (SBWIRE) -- 07/15/2014 -- The report ‘‘Automotive Lighting Market by Position (Front, Rear, Side, & Interior), Technology (Halogen, Xenon/HID, & LED), Vehicle Type (Passenger Car, LCV, Bus, & Heavy Truck), & Geography - Global Trends & Forecast to 2020’’ defines and segments the automotive lighting market with analysis and forecasting of the market size, in terms of volume and value. The automotive lighting market is projected to grow at a CAGR of 7.70% to reach $33.22 billion in 2020.
Browse more than 99 market data tables with 46 figures spread through 265 pages and in-depth TOC on "Automotive Lighting Market - Global Trends & Forecast to 2020"
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Asia-Pacific: The largest market for automotive lighting
Asia-Pacific has been the largest automotive lighting market since 2011 followed by Europe, North America, and ROW. The Asia-Pacific region comprises major countries such as India, China, Japan, and South Korea which accounts for the majority of the vehicle production due to which these are the major automotive lighting markets. The automotive lighting market size in terms of value in these countries is more due to reasons such as high vehicle production volume, growing economy, rising population, and changing consumer lifestyles. The value trend is estimated to remain unchanged in 2020.
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Front lighting: Biggest lighting segment by position
Considering automotive lighting market size in terms of value by position (front, rear, side, and interior); front lighting market is estimated to continue to be the largest market as of 2013 and is anticipated to remain the largest segment in 2020 as well. Rear, interior, and side lighting segments follow the front lighting segment in terms of value in 2013.
Passenger cars: Leading the automotive lighting market
Major factors contributing to recent increase in demand for passenger cars are increasing population, increased disposable income, changes in lifestyles and transportation requirements. Improved standard of living, lower manufacturing cost, cheap labor and greater benefits offered for vehicle manufacturers in the developing regions have increased the demand for passenger cars to a great extent. Due to a conducive business environment in the developing countries, many automobile manufacturers have set up their manufacturing units here.
Halogen technology: Largely employed across all vehicle segments
Halogen lighting is the most prominent mode of lighting in vehicles and is being used since many years due to its easy availability, low purchasing cost, and low replacement costs. In 2013, halogen is estimated to have the largest share of the automotive lighting market size in terms of value followed by LED and Xenon/HID.
This report covers the market size in terms of volume and value of the automotive lighting market across different geographies. The report also covers the automotive lighting market by its technology, position, and vehicle type for the next seven years (2013-2020). The U.S., China, and Japan are anticipated to be the largest value generators in the automotive lighting market in 2013, whereas its value is projected to grow at the highest CAGR (from 2013 to 2020) in China, Russia, South Korea, and India.
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