Global Automotive Lighting Market - Significance, Market Overview, and Worldwide Market Outlook
Transparency Market Research Report Added "Automotive Lighting Market" to its database.
Albany, NY -- (SBWire) -- 03/13/2015 --The performance of the automotive industry has a major impact on the global automotive lighting industry. The demand for automotive lighting is on the rise, because automotive lighting ensures driver safety during unfavorable weather conditions, and also ensures visibility at such times. Automotive lighting not only includes lighting devices but also signaling devices that are fitted in the interiors, sides, front, and the rear of the vehicles.
Automotive lighting gives a clear idea about factors like the direction of travel to other drivers, and pedestrians, and the position of the vehicle. The interiors, exteriors, and the very look of the vehicle get enhanced with the help of automotive lighting. Automobile manufacturers ensure minimum consumption of energy with the help of the LED lighting technology. The most extensively used mode of lighting till date has been that of halogen lighting due to factors like low costs of replacement, easy availability, and low purchasing cost.
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Global Automotive Lighting Market - Segmentation and Application
The global automotive lighting market is segmented on the basis of the type of vehicle, position, technology, and geography. On the basis of the type of vehicle, the global automotive lighting market is categorized into heavy trucks, passenger cars, LCVs, and buses. Based on position, this market is segmented into interiors, front, side, and rear automotive lighting. Head lamps, and fog lamps are the two types of front lighting under automotive lighting. The head lamp unit mainly consists of the indicator, daylight running lamps, low beam, and high beam. The stop lamp, the position lamp, and the indicators are included in the tail light unit.
Under automotive lighting, the main purpose of rear lighting is to caution the vehicles present behind the vehicle, and also alert the pedestrians. The different types of technologies applied in the global automotive lighting market include LED lighting technology, halogen, and xenon/HID. Low cost and easy availability of halogen technology makes this segment by far the most dominant in the global automotive lighting technology. The demand for halogen technology in the developing regions is mainly driven by the presence of Xenon technologies, and high LED cost. It is however anticipated that better features and low costs of LED technology will reduce the demand for halogen in the global automotive lighting market in the forthcoming years.
Energy Concerns and Vehicle Safety to Propel the Global Automotive Lighting Market
At present, rising awareness amongst the masses about vehicle safety is the main driving force operating in the global automotive lighting market. The concept of automotive lighting is gaining much momentum due to reasons like stringent government regulations pertaining to automotive, higher purchasing capacity of consumers these days, and low energy consumption of LEDs. Furthermore, the global automotive market has got a significant boost due to the rising population of vehicles in the BRIC nations. As per the ongoing trends and markets forecasts, the automotive lighting market will witness significant growth in the forthcoming years in terms of volume and value.
In terms of geography, the largest share in the global automotive market is held by the Asia Pacific. Since the Asia Pacific countries of South Korea, India, Japan, and China account for the highest vehicle production in the world, these countries also happen to be the largest markets for automotive lighting. The global automotive lighting market is led by the segment of passenger cars because of factors like high disposable incomes, rising population, changes in transportation requirements, and changes in lifestyles.
Some of the prominent players operating in the global automotive lighting market include Zizala Lichtsysteme GMBH (ZKW), Stanley Electric Co. Ltd, Osram GMBH, Royal Philips Electronics, Magneti Marelli S.P.A, Hyundai Mobis, Ichikoh Industries Ltd, Hella Kgaa Hueck & Co., General Electric (GE), Koito Manufacturing Ltd., and Valeo S.A.
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