LED light
is a semiconductor which releases energy in the form of light when activated.
LED lights are more efficient, power saving and durable than halogen or xenon
light. When an electric voltage is supplied to p and n junction through leads,
electrons started to come together and release energy in the form of light.
It offers various other advantages over other lights such as long lasting
life and less CO2 emission. Automotive LED lights are considered as an
important part of modern automobiles. Traditionally, automotive LED lights were
used as back lights but due to their better lighting system and power
efficiency, nowadays they are used as headlights over the xenon and halogen
light. Rising growth of automobile industry across the globe has fostered the
growth of automotive LED lighting system. The stringent government regulation
and policies regarding the usage of xenon and halogen automotive lights has led
to higher demand for LED lights. The key trend driving the automotive LED lighting market
is innovation and development in LED technology.
On 7 may,
2017, Osram, one of the leading manufacturers of automotive LED lights,
announced flexible OLED’s for vehicle lighting. Further, on 31st January,
Magneti Marelli, one of the key companies, announced their investment of USD 35
million for an automotive lighting facility in Independence Township (MI).
Market Size and Forecast
The global automotive LED lighting
market is anticipated to reach USD 21.56 billion witnessing a CAGR of 8.92 %
over the forecast period 2017-2024. Asia-Pacific accounted for the highest market share in the
terms of volume in overall global market. The market is expected to continue
its dominance over the forecast period. Further, it is anticipated to
maintain its dominance owing to the heavy demand for cost effective automotive
LED lights and increasing automobile production. The presence of automotive LED
lighting manufacturing industries in Japan is expected to bolster the
automotive LED light market over the forecast period.
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The market
of global automotive LED light is led by Asia-Pacific followed by Europe and
North America. Europe is expected to showcase a significant rise in automotive
LED light over the forecast period owing to the development of technologically
advance LED lights used in luxury cars. Moreover, presently Europe and Asia
(mainly Japan) accounts for more than 80% market share of the global automotive
LED lighting market.
Market Segmentation
Our in-depth
analysis segmented the global automotive LED market in the following segments:
By Vehicle
Type:
Passenger
Car
Light
Commercial Vehicle (LCV)
Heavy
Commercial Vehicle (HCV)
By
Adaptive Lighting:
Front
Adaptive Lighting
Rear
Adaptive Lighting
Ambient
Adaptive Lighting
By
Position:
Exterior (
front, rear and side)
Interior
By Region
Automotive
LED lighting market is further classified on the basis of region as follows:
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle
East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Rising
concern about energy efficiency and expanding sales of automotive vehicles is
predicted to trigger the growth of global automotive LED lighting market.
The need for cost effective, better lighting system and less power consumption
are some of the key factors driving the LED market in automotive. Moreover,
rising demand and sales of lightweight vehicles are one of key factors fueling
the demand for global automotive LED market. Further, government legislations
such as putting ban on the use halogen and xenon light is expected to augment
the growth of the automotive LED market.
However,
high cost of new technologically advanced LED lights is projected to dampen the
growth of global automotive LED light market. Moreover, xenon and halogen
automotive lights have captured the largest market share of global automotive
LED market system.
Key
players
SG
Automotive
Mercedes
Benz
Osram
Licht AG
Magneti
Marelli S.P.A
Koninklijke
Philips N.V.
Stanley
Electric Co.Ltd
Hyundai
Group
Toyota Motor
Corporation
Zizala
Lichtsysteme Gmbh
Koito
Manufacturing Co.Ltd
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
Automotive LED lighting market is segmented as follows:
By Vehicle
Type Market Size & Y-O-Y Growth Analysis
By
Adaptive Lighting Market Size & Y-O-Y Growth Analysis
By
Position Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
To know more about this research,
kindly visit: http://www.researchnester.com/reports/automotive-led-lighting-market-global-demand-analysis-opportunity-outlook-2024/285
For Table of Content &
Free Sample Report Contact:
Ajay
Daniel
Email:
ajay.daniel@researchnester.com
U.S. +1 646 586 9123
U.K. +44 203 608 5919
I admire what you have done here. I like the part where you say you are doing this to give back but I would assume by all the comments that this is working for you as well.
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