The Global Automotive LED Lighting Market Size is estimated to be valued over USD 2.8 Bn in 2018
Global Automotive LED Lighting Market Size Analysis
The Global Automotive LED Lighting Market Size is estimated to be valued over USD 2.8 billion in 2018 and will register a CAGR of 7.9% to create high revenue opportunity for industry players during the forecast period (2018-2028).
Over the last few years, the competition in the industry has heightened with the emergence of new players. Still, it is far below the maturity curve level and as such, companies are emphasizing on strengthening their distribution channels rather than adopting pricing based strategies. The global automotive LED lighting market is slowly shifting towards high power LED with increased demand for green vehicles
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Automotive LED Lighting Market Size| 7 Key Insights from Global Report| 2018The Global Automotive LED Lighting Market Size is estimated to be valued over USD 2.8 billion in…
Read on bekryl.?comGlobal Automotive LED Lighting Market Drivers and Challenges
Automotive LED lighting market size is driven by various factors with most prominent is increased sales of automobiles in developing regions. Demand will further increase owing to changing consumer perception and companies emphasizing on offering different variants of model to stay competitive worldwide. As such, the trend will help in overall sales of light emitting diode in cars.
LED not only offer better design flexibility but also has higher night bandwidth compared to other types of lighting including xenon. In addition to these, government initiatives towards sustainable growth has led to higher sales of LED across wide range of industry verticals. For instance, in 2011, EU has mandated for daytime running lights (DRL).
It is expected that LED will have higher traction with decreasing production cost and reaching value nearby to conventional solutions. Whole value chain will be benefitted post 2020 leading to higher aftermarket market sales by 2020. Upstream sector is likely to be consolidated with top 10 players accounting for majority of the market share by 2022. OEM-Integration will further led to concentration of profitability margin during the forecast period.
Global Automotive LED Lighting Market Analysis, By Application
On the basis of application, global the industry value is segmented into interior applications and exterior applications. Interior LED lighting market is further analyzed across backlighting, illumination and indication purpose lighting.
Exterior LED lighting market dominates the global share and is segmented across headlamp, DRL, side lights, turning lights, tail light, break light and center high mounted stop lamps (CHMSL). CHMSL has seen highest penetration of LED. In 2017, exterior LED lighting accounted for over 77% of overall value.
Global Automotive LED Lighting Market Analysis, By Capacity
On the basis of capacity type, global Automotive LED Lighting market size is segmented into low powered and high powered LED.
Growth in the industry will be led by increasing demand for high powered LED lighting. The segment valuation will increase by over 1,000 basis points between 2017 and 2028.
Global Automotive LED Lighting Market Analysis, By Vehicle Type
On the basis of vehicle type, global Automotive LED Lighting market outlook is analyzed across light weight vehicles and heavy duty vehicles. Light vehicles is further analyzed across compact cars, luxury cars, SUVs and other related vehicles. Heavy duty vehicle is further analyzed across buses, and trucks.
Global Automotive LED Lighting Market Analysis, By Distribution Channels
By distribution channels, the global Automotive LED Lightings market value is segmented into OEM and aftermarket. OEM will continue to dominate the sales throughout the forecast period.
Global Automotive LED Lighting Market Size and Forecast: Regional Analysis
Globally, Asia Pacific will create highest revenue opportunity for industry players with much of the sales generating form China. As per the estimates, China will account for over 39% of regional sales followed by India in 2018. Well established distribution channel presence along with high sales of automobiles will bolster the overall growth during the forecast period.
Western Europe will trail behind Asia Pacific. North America and Western Europe will collectively account for over 46% of global automotive LED lighting market value by 2028. Increasing sales of electric vehicles in the region will fuel the overall demand for LED lighting.
Global Automotive LED Lighting Market Size and Forecast: Competition Landscape
Global automotive LED lighting market will register impressive growth leading to higher profitability margins for all players across value chain. Integrated value chain could help lower the operational cost and thus help players to generate higher ROI.
Product development will be a key driving factor in overall positioning of the manufacturers. Manufacturers are focusing on integrating the LED lighting with electronic sensors to offer customized solutions to end-users. Some of the key global LED lighting market players are
Automotive LED Lighting Market Industry Segmentation
By Capacity:
- Low Powered
- High Powered
By Application:
- Interior LED LightingBacklightingIlluminationIndication Purpose Lighting
- Exterior LED LightingHeadlampDRLSide lightsTurning lightsTail lightsBreak lightCenter high mounted stop lamps (CHMSL).
By Vehicle Type:
- Light Weight VehiclesCarsLuxury carsSUVsOther related vehicles
- Heavy Duty VehiclesBusesTrucks
By Distribution Channel:
- Trucks
- Buses
What Will You Discover in the Report?
- An in-depth analysis of the Automotive LED Lighting market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Automotive LED Lighting market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Automotive LED Lighting market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Automotive LED Lighting industry during the forecast period
- Who are the Automotive LED Lighting industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Automotive LED Lighting Industry Suppliers
- Automotive LED Lighting Industry Manufacturers
- Consultants and Analysts
- Researchers
- Industry Specialists
Analyst access with Bekryl Market Analysts
Purchasing of Automotive LED Lightings market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.
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