Interior lighting would witness appreciable growth due to the increasing trend of installing LED lights inside the vehicle for enhancing the looks.

Portland, OR -- (SBWire) -- 09/26/2017 --Automotive Lighting Market is expected to garner $33.7 billion by 2020. This is supported by a CAGR of 6.8% during the forecast period 2015?2020.

The automotive lighting market size is witnessing a steady growth with the rise in the demand for automotive vehicles. Automotive vehicles, including passenger and commercial vehicles, require energy-efficient and cost-effective lighting systems to enable a safe driving experience. The growing population, increase in automotive production, and the rising concerns about vehicle safety triggered by the government regulations are driving the growth of the market. Additionally, the increase in purchasing power of individuals is also creating more opportunities for the market growth.

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LED lighting technology would witness the highest growth during the forecast period. Traditional Halogen lighting technology will be gradually replaced by LED technology. By 2020, LED technology will constitute 1/3rd of the total automotive lighting market, growing at the highest CAGR during the forecast period. The growth would be fueled by features such as low power consumption, longer life and compact size of LED lights. The decreasing cost of LED lights would further fuel their market growth during the forecast period. However, halogen lighting technology would maintain its leading position due to their low-cost advantages and widespread adoption.

Automotive Lighting Market Key Segments:

Market segmentation is illustrated below:

By Technology

- Halogen

- Xenon

- LED

By Vehicle type

- Passenger Vehicles

- Commercial Vehicles

By Product Sale

- Original Equipment Manufacturer Product (OEM Product)

- Aftermarket Product

By Applications

- Front Lighting

- Rear Lighting

- Side Lighting

- Interior Lighting

By Geography

- North America

- Europe

- Asia Pacific

- LAMEA