Automotive Lighting Industry: 2019 Global Market, Trends, Size, Growth, Share, And 2025 Forecast Rep

Market Research Future published a Cooked research report on "Global Automotive Lighting Market Research Report - Forecast to 2023"– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Automotive Lighting Global Market – Overview

Lighting is an important component in automobiles. It plays an important role in safety factor. It is primarily used in automobiles to increase the visibility in darkness & in bad weather conditions. It also increases the conspicuity of the vehicle. Continuous development in the automotive industry & focusing on improve the efficiency of lighting, are the primary driving factors of the automotive lighting market. According to a recent study report published by the Market Research Future, The global market of Automotive Lighting is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).

The increase in sales of new vehicles has been fuelling the growth of automotive lighting market. The increase in the sales of new vehicles has mainly been because of competitive and diverse options available for finance. The availability of finance has eased the purchase of vehicles, due to which there has been a rise in the use of automotive lighting. Another factor responsible for the increase in vehicle sales, is the macroeconomic development and the rise in the global middle class consumers. According to OICA, the sales of new vehicles have been increased from 2013 to 2016. In 2013, the number of vehicle sold were 85.6 million while in 2016 it was 9.38 million.

Major emerging countries such as China, India, Thailand, and Indonesia, among others are becoming manufacturing hubs for global automotive players. As a result of increasing prosperity in the emerging economies, more and more people are able to afford their own car, particularly in emerging Asian economies such as China and India.

In order to tap these rising consumer automobile preferences, leading global automotive players such as Volkswagen, BMW, Toyota, and Ford, among others are entering into new emerging markets for business expansion.

As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for automotive lighting and other semiconductor based will also rise.

Since 2008, the world has entered into a new era with about half of the population living in cities. This improved lifestyle had led to increase in urbanization, which has resulted in the development of a set of paradigms for both personal and commercial transportation. The increase in urbanization will lead to an increase in use of passenger and commercial vehicles, due to which there will be growth in automotive lighting market. China is one of the most densely populated urban centre. The automotive market of China has experienced increased growth, which will drive the automotive technology.

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Key Players:

Aro Metal Stamping co. (U.S.), Kenmode Precision Metal Stamping (U.S.), Martinrea International Inc. (Canada), Shiloh Industries, Inc. (U.S.), Acro Metal Stamping Co. (U.S.), Manor Tool & Manufacturing Company (U.S.), American Industrial Company (U.S.), Wisconsin Metal Parts, Inc. (U.S.), and Clow Stamping Co. (U.S.)., and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global automotive lighting market.

Automotive Lighting Market – Segmentation

The global automotive lighting market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Technology: Comprises Halogen, LED, and Xenon

Segmentation by Vehicle Type: Comprises Passenger Car, Light Commercial Vehicle & Heavy Commercial Vehicle

Segmentation by Application: Comprises Front Lights, Side Lights, Rear Lights and Interior Lights

Segmentation by End Market: Comprises OEM & Aftermarket

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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At Market Research Future (Mrfr), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (Crr).