Portland, OR -- (SBWIRE) -- 06/12/2018 -- 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.

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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.

A wide variety of automotive lights are available in the market, such as front lighting, rear lighting, side lighting, fog lamps, and interior lighting. In the year 2014, front lighting accounted for maximum revenue, and is expected to continue to lead the market by 2022 as well. Traditionally, halogen was the majorly used lighting technology. However, the ongoing innovations in LED lighting technology to provide bright illumination and a compact size fuel the demand of these lights. LED lights are used for a variety of functions such as low beam, high beam, turn signal, parking lights, and day running light. Longer shelf life proves to be a major advantage of LED lights, thereby increasing their installation. The passenger vehicle market is expected to continue to maintain its leading position, in terms of market value.

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Key players operating in the market include Koninklijke Philips N.V., Phoenix Lamps Limited, Lumax Industries Limited, Osram Licht AG, GE Lighting, and others. These industry players focus on introducing advanced LED lighting solutions as well as on expanding their presence in the growing automotive market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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