Global Automotive LED Lighting Market Evaluated to Grow to USD 20 Billion at a CAGR of 9% by 2022. Automotive LED Lighting Market, By Position (Front, Rear, Side, Interior), By Vehicle Type (Passenger Car), By Adaptive Lighting (Front Adaptive Lighting, Rear Adaptive Lighting, Ambient Adaptive Lighting) – Forecast 2022.
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Automotive LED Lighting Global Market – Overview
The Automotive LED Lighting Market is growing rapidly owing to its Cost efficiency and work efficiency. According to a recent study report published by the Market Research Future, The global market of Automotive LED Lighting is projected to grow at a rapid pace during the forecast period (2016 – 2022). The Market is forecasted to demonstrate a spectacular growth by 2022, the Global Automotive LED Lighting market is expected to grow approximately at USD 20 Billion by 2022, approx.9% of CAGR between 2016 and 2022.
Increasing sales of lightweight vehicles worldwide, growing automobile industry, increasing LED penetration and focus on energy efficiency are factors providing impetus to the market growth of Automotive LED Lighting globally. On the other hand, Factors such as slow growth of vehicle sales in BRIC nations, high costs of LED, high research and development costs are projected to restrict the market growth of global Automotive LED Lighting
The Automotive Light Emitting Diode Lighting market is growing because of the low cost of the LED and efficient working of it. LEDs are small, solid light bulbs which are extremely energy efficient and long-lasting. The long life of LED lamps was initially attractive, however, low brightness and high cost means, that they were generally restricted to use in dashboards.
Along with technology development in vehicles, automated LED lighting is one of them. Increased consumption of these can be seen from two wheelers to four wheelers. The adoption of it is growing day by day. The segmentation of it on the basis of position in the vehicle is done. It can be fixed in the front, rear, side and interior of the vehicles. LED lighting ability is to improve total plant productivity. By connecting advanced lighting controls to industrial automation systems, LED lighting can save time and costs, and also provide business intelligence data, reduce waste and redundancies, and enhance plant operations.
Adaptive headlights are helpful when driving on winding roads at night, during twilight, or in other low-light conditions. They can address many potentially dangerous situations. Adaptive headlights do not compensate for unsafe driving or poor road conditions. Drivers must still take extra precautions when driving at night and should always continue to use safe driving practices.
Automotive LED Lighting Global Market – Segments
The Automotive LED Lighting Market can be segmented into 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Position: Comprises Front, Rear, Side, and Interior.
Segmentation by Vehicle Type: Comprises Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV).
Segmentation by Adaptive Lighting: Comprises Front Adaptive Lighting, Rear Adaptive Lighting, And Ambient Adaptive Lighting.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Automotive LED Lighting Global Market Key Players-
Osram Licht AG (Germany), Magneti Marelli S.P.A (Italy), Koito Manufacturing Co.Ltd (Japan), Stanley Electric Co.Ltd (Japan), Mercedes-Benz (Germany), Koninklijke Philips N.V. (Netherlands), Hyundai Group (South Korea), Toyota Motor Corporation (Japan), Tata Motors Limited (India), Zizala Lichtsysteme Gmbh (Austria), Global Electric Electronic Processing Inc. (Canada), Umicore S.A. (Belgium) are some of the prominent players at the forefront of competition in the Global Market of Automotive LED Lighting and are profiled in MRFR Analysis.
Automotive LED Lighting Market – Regional Analysis
The regional analysis of Automotive LED Lighting market is being studied for regions such as Asia Pacific, Americas, Europe and Rest of the World. Asia- Pacific region owing to the fast-growing automotive industry in developing countries such as India, China and South Korea is expected to show significant growth in the Automotive LED Lighting market. Europe and North America are anticipated to dominate the LED lighting market in terms of demand. Increasing automotive production paired with the adoption of energy efficient lighting source such as LED is driving the growth of automotive lighting industry in the European region. Also, government enforcing to lesser CO2 emission from the vehicle is driving the LED market in that region.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
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