Asia-Pacific Next-Generation Automotive Lighting Markets, 2022-2023 and 2031 Featuring KOITO Manufacturing, Hyundai Mobis, Varroc Group, LG Innotek, and Stanley Electric

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Mar 18, 2024, 13:15 ET

DUBLIN, March 18, 2024 /PRNewswire/ -- The "Asia-Pacific Next-Generation Automotive Lighting Market - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.

The Asia-Pacific (APAC) next-generation automotive lighting market (excluding China) is projected to reach $6.76 billion by 2031 from $1.81 billion in 2022, growing at a CAGR of 15.77% during the forecast period 2022-2031

The APAC region is anticipated to experience significant growth in the next-generation automotive lighting market due to advancements in automotive lighting systems technology and the rising demand for luxury vehicles in the region.

Market Introduction

APAC next-generation automotive lighting market is expanding due to a number of factors, such as rising passenger car sales and production, an increase in the number of autonomous vehicles on the road, and the introduction of cutting-edge technologies.

Furthermore, it is projected that the adoption of next-generation automotive lighting systems will be fueled by growing concerns about safety as well as increased awareness of autonomous vehicles and advanced lighting systems worldwide. Nevertheless, increased cost concerns and rising raw material costs since the LED revolution are currently impeding the market's growth.

Analyst's Perspective on Next-Generation Automotive Lighting Market

The market is evolving rapidly and is anticipated to continue to spur at the same pace in the following years. Businesses are developing innovative solutions and launching new products in the market. Collaborations and product launches are key strategies assisting the market's growth.

The massive shift in consumer preferences has provided a viable opportunity for automotive lighting manufacturers to gain strong ground in this domain. Moreover, increasing awareness regarding automotive lighting systems and autonomous cars and growing safety concerns are expected to increase the adoption of automotive lighting systems globally.

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different applications of the next-generation automotive lighting products available based on vehicle type, end market, product type, and technology type. Increasing demand for safety and aesthetics is pushing the consumption of next-generation automotive lighting. Therefore, the next-generation automotive lighting business is a high-investment and high-revenue generating model.

Growth/Marketing Strategy: The next-generation automotive lighting market is an exponentially growing market holding enormous opportunities for the market players. Some strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments. The companies' preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the Asia-Pacific next-generation automotive lighting market.

Competitive Strategy: Key players in the Asia-Pacific next-generation automotive lighting market analyzed and profiled in the study involve next-generation automotive lighting-based product manufacturers that provide raw or processed products. Moreover, a detailed competitive benchmarking of the players operating in the Asia-Pacific next-generation automotive lighting market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Questions Answered in the Report

What are the major market drivers, challenges, and opportunities in the Asia-Pacific next-generation automotive lighting market?
Which product segment and application areas are estimated to witness the maximum demand growth in the next-generation automotive lighting market during 2021-2031?
Who are the key players currently dominating the next-generation automotive lighting market space? What are the business and corporate strategies adopted by manufacturers involved in the next generation automotive lighting market?

Some of the prominent names established in this market are:

KOITO Manufacturing Co. Ltd.
Hyundai Mobis Co., Ltd.
Varroc Group
LG Innotek Co., Ltd.
Stanley Electric Co., Ltd.

Key Topics Covered:

1 Markets
1.1 Industry Outlook
1.1.1 Trends: Industry Dynamics Defining the Future Trends in the Next-Generation Automotive Lighting Market
1.1.1.1 Flexible Organic Light-Emitting Diode (OLED)
1.1.1.2 Micro AFS LED Headlights
1.1.1.3 Human-Centric Lighting
1.1.1.4 Integration of LiDAR in Headlamps of Vehicles
1.1.1.5 Laser Light for Headlights
1.1.2 Supply Chain Network/MAP
1.1.3 Who Supplies Whom
1.1.4 Consortiums, Associations, and Regulatory Bodies
1.1.4.1 North America
1.1.4.2 Europe
1.1.4.3 Asia-Pacific
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increase in Demand for Luxury Cars
1.2.1.2 Growing Popularity of Autonomous Vehicles
1.2.1.3 Stringent Safety Regulations for Lighting Systems
1.2.2 Business Restraints
1.2.2.1 Higher Cost Concerns with Next-Generation Automotive Lighting
1.2.2.2 Increase in Costs of Raw Materials Since LED Revolution
1.2.3 Business Strategies
1.2.3.1 Product Development
1.2.3.2 Market Development
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.5 Business Opportunities
1.2.5.1 Development of Advanced Adaptive Driving Beam (AADB)
1.2.5.2 Advent of New Services for Automotive Lighting
1.3 Impact of COVID-19 on the industry

2 Regions
2.1 China
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Manufacturers in China
2.1.1.3 Competitive Benchmarking
2.1.1.4 Business Challenges
2.1.1.5 Business Drivers
2.1.2 Application
2.1.2.1 China Next-Generation Automotive Lighting Market (by Vehicle Type), Value and Volume Data, 2021-2031
2.1.2.2 China Next-Generation Automotive Lighting Market (by End Market), Value and Volume Data, 2021-2031
2.1.3 Product
2.1.3.1 China Next-Generation Automotive Lighting Market (by Product Type), Value and Volume Data, 2021-2031
2.1.3.2 China Next-Generation Automotive Lighting Market (by Technology Type), Value and Volume Data, 2021-2031
2.2 Asia-Pacific and Japan
2.2.1 Market
2.2.1.1 Key Manufacturers in Asia-Pacific and Japan
2.2.1.2 Competitive Benchmarking
2.2.1.3 Business Challenges
2.2.1.4 Business Drivers
2.2.2 Application
2.2.3 Product
2.2.4 Asia-Pacific and Japan: Country-Level Analysis
2.2.4.1 Japan
2.2.4.2 India
2.2.4.3 South Korea
2.2.4.4 Rest-of-Asia-Pacific and Japan

3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.3 Product Matrix
3.4 Company Profiles
3.4.1 KOITO Manufacturing Co. Ltd.
3.4.1.1 Company Overview
3.4.1.1.1 Role of KOITO Manufacturing Co. Ltd. in the Next-Generation Automotive Lighting Market
3.4.1.1.2 Product Portfolio
3.4.1.2 Business Strategies
3.4.1.2.1 Product Development
3.4.1.3 Corporate Strategies
3.4.1.3.1 Mergers and Acquisitions
3.4.1.3.2 Partnerships, Joint Ventures, Collaborations, and Alliances
3.4.1.4 Patent Analysis
3.4.1.5 Production Sites and R&D Analysis
3.4.1.6 Analyst View
3.4.2 Hyundai Mobis Co., Ltd.
3.4.3 Varroc Group
3.4.4 LG Innotek Co., Ltd.
3.4.5 Stanley Electric Co., Ltd.

4 Research Methodology

For more information about this report visit https://www.researchandmarkets.com/r/ah2gi7

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