Valley Cottage, NY -- (SBWIRE) -- 07/16/2018 -- Automotive LED is a prominent auto ancillary which aids in interior as well exterior lighting of the vehicle. The applications of automotive LED include indicators & signals, lighting in interior space of the vehicle, ambient lighting and exterior headlights.Automotive LEDs' response is much better than that of traditional incandescent bulbs. OEMs are attracted towards the idea of potential reduction in energy consumption and space saving owing to smaller lighting fixtures. LEDs are smaller in size and are more efficient. They also possess substantially longer life and offer greater design freedom for improved esthetics. The usage of LED (Light Emitting Diode) in automotive applications is increasing owing to increasing demand from customers. Consumers also benefit from the safety aspects of solid-state signal lighting. For instance, fast turn-on stop lamps can reduce the risk of rear-end collisions.

Stringent regulations are compelling customers to install LEDs in trucks. NHTSA (National Highway Transportation Safety Administration) has issued new compliance orders which states that trailer trucks that are 80-inch wide or above must have ID lamps fixed (mounted) over the rear door, even if the space available is less than one inch. Consequently, LED narrow rail lamps are the only solutions for such minimum spaces. Moreover, it has been estimated that compared to conventional lighting systems, LEDs for DRL applications consume only 0.2 liters of fuel per 100 km and about 4 grams lesser carbon dioxide emissions per kilometer, which essentially is the ultimate advantage of replacing LEDs.

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Automotive LED Market: Dynamics

Growing inclination towards energy efficient decorative lights is spurring the demand in the automotive LED market. Growing demand for automotive vehicles (especially luxury vehicles) coupled with the desire to replace traditional luminaires is increasing the demand for automotive LEDs tremendously. Moreover, governments across the globe are supporting manufacturers by offering tax incentives and other subsidies, this is another factor expected to drive demand in the automotive LED market. For instance, the Chinese government supports the local LED industry by providing massive incentives, financial subsidies and resources to improve the domestic LED companies manufacturing capacity. Many Chinese manufacturers, with the help of government support, have started acquiring foreign companies to transfer their business models. Also, trending low price of LEDs are also supporting the growth of the automotive LED market.

Automotive LED Market: Outlook/Trend

Major trending opportunity for manufacturers exist in the gradual shift towards LED lights in mid-range cars. Also, the OEMs are investing in R&D to research innovative or special lighting applications to boost their profitability. For example, OEMs are now turning their focus to LED applications in non-visible light spectrums, such as IR or UV LEDs as non-visible automotive LEDs occupy smaller market size as compared to other (backlight) applications. Additionally, adapting driving beam is an emerging trend. This kind of lighting offers both high security & brightness simultaneously.

The increase in demand for electric or hybrid vehicles will support the demand for automotive LED owing to the high emphasis placed by manufacturers on attractive interiors to differentiate electric vehicles from conventional fossil fuel burning vehicles. According to AMIA (Mexican Automotive Industry Association-2016), 8,260 electric/hybrid vehicles were purchased in Mexico, which depicts more than a 400% rise from 1,800 units bought by Mexican consumers in 2015.

Moreover, the Brazilian government has reduced tax on hybrid cars and about 491 electric and hybrids cars were sold in 2013. With the aforementioned reasons, the demand for automotive LEDs will increase in near future.

Automotive LED Market: Segmentation

On the basis of vehicle type, the Automotive LED Market can be segmented into:

Passenger Car

LCV

HCV

On the basis of application, the Automotive LED Market can be segmented into:

Interior

Dome

Dash

Footwell Lighting

Others

Exterior

Tail Lights

Turn Signals

Parking Lights

Side Makers Light

Fog Lamps

Daytime Running Lights (DRLs)

Others

On the basis of sales channel, the Automotive LED Market can be segmented into:

OEM

After Market

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Automotive LED Market: Market Participants

Examples of some of the market participants identified across the value chain of the Automotive LED Market across the globe are:

OSRAM GmbH

Lumiled Holding B.V.

Infineon Technologies

Al Automotive Lighting (Magnetti Marelli)

Hella KGaA Hueck & Co.

Ichikoh Industries, Ltd.

Koito Manufacturing Co. Ltd.

Valeo S.A.

Visteon Corporation

Philips N.V.