Global Automotive Adaptive Lighting Market, Analysis and Forecast, 2017 - 2023

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Jul 18, 2017, 15:40 ET

NEW YORK, July 18, 2017 /PRNewswire/ -- Global Automotive Adaptive Lighting Market to Reach $1.5 Billion by 2023, Reports BIS Research

Description
The overall demand for automotive adaptive lighting is increasing significantly owing to factors such as growing vehicle sale volume and stringent government regulations. The automotive adaptive lighting market has grown extensively and is on the transition from traditional lighting technologies such as halogen and xenon to LED. Energy efficient LED lighting sources are gaining popularity due to stringent government regulation on emissions.

The rapid decline in LED prices is also encouraging the automotive manufacturers for the development of LEDs for different applications in vehicles such as interior/ ambient lighting. The market is estimated to witness growth at a CAGR of 13% over the period of 2017 to 2023. The report is a compilation of market size and future growth potential of the automotive adaptive lighting market and automotive lighting market.

The report provides a detailed market analysis and forecast with respect to various technologies in the lighting market which are halogen, xenon, LEDs, OLED, and laser. The automotive adaptive lighting market by technology is categorized into halogen, xenon, and LED. On the basis of application, the automotive lighting market is segmented into interior lighting and exterior lighting.

The exterior lighting segment is further categorized into front lights and rear lights. On the basis of application, the automotive lighting market is segmented into interior lighting and exterior lighting. The exterior lighting segment is further categorized into front lights and rear lights. The automotive adaptive lighting market on the basis of application is segmented into front lights and rear lights.

While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different vehicles that are analyzed, which include passenger cars and commercial vehicles. The report also provides a detailed analysis and forecast in terms of revenue generated by the market mainly through two distribution channels which are OEM and aftermarket.

The report addresses the following key questions about the global automotive adaptive lighting market:
• What is the global automotive adaptive lighting and automotive lighting market size in terms of value from 2016-2023?
• What is the dominant technology by value for automotive adaptive lighting and automotive lighting market?
• What is the revenue generated by the different applications in the global automotive lighting market 2016-2023?
• Which application will lead by value in the automotive adaptive lighting market by the end of the forecast period?
• What is the revenue generated by the different distribution channel in the global automotive adaptive lighting market 2016-2023?
• What are the different factors driving the market forward in the forecast period?
• What are the major factors challenging the growth of global automotive adaptive lighting market?
• What type of new strategies are being adopted by existing market players to make a mark in the industry?
• Which region will lead the global automotive adaptive lighting market by the end of the forecast period?

The report includes an exhaustive analysis of the geographical split into North America (U.S, Canada, Mexico), Europe (Germany, U.K, France, Italy, Others), Asia-Pacific (China, Japan, South Korea, India Others), South America, and Middle East & Africa. Each geographical region analysis details the individual push and pull forces in addition to the key players from that particular region.

The report examines the role of the leading market players involved in the industry. The company profiles section includes highlights of significant information about the key companies involved along with their financial positions, key strategies & developmental activities of recent years (2014-2016). Some of the key players are Koito Manufacturing Ltd (Japan), Valeo Group (France), Hella KGaA Hueck & Co. (Germany), Magneti Marelli S.p.A (Italy), Stanley Electric Co.(Japan), Zizala Lichtsysteme GmbH (Austria), and SL Corporation (South Korea).

Executive Summary
The dynamic evolution of the automobile industry is attributed primarily to changing consumer preferences, growing focus on environment concerns, increased safety, and stringent government regulations. Lighting plays a critical role in the automotive industry and is growing at a rapid pace, driven by safety and design.

Rapid technological developments in the automotive lighting industry have witnessed a radical transformation from simple incandescent and gas discharge based light sources to light emitting diodes (LEDs) laser technology and organic light emitting diodes (OLEDs).

The price of LEDs have reduced drastically in the past decade, and this trend is expected to continue in the forecast period. In addition to this, this changing paradigm of automotive lighting industry has led to a shift from traditional lighting sources such as incandescent and fluorescent lamps to solid-state light sources, which has resulted in an overall reduction in CO2 emissions, which acts as an important factor in driving the demand for automotive lighting market

The report defines and estimates the market size and future growth potential of automotive adaptive lighting market and automotive lighting market. The global automotive adaptive lighting market is estimated to reach $1.49 billion by 2023.

The market is driven by a number of factors such as declining average price of LEDs, technological advancements, and increased vehicle sales volume. High cost associated with smart lighting and fluctuation in the prices of raw materials are some of the major factors which are hampering the overall market growth. However, growth of automotive industry in emerging economies such as India and China also plays an important role, which is expected to boost the market growth in the forecast period.

The automotive lighting market has grown organically and is on a transitional shift from traditional lighting technologies such as halogen and xenon lights to that of LED lighting. On the basis of technology, the automotive lighting market is segmented into halogen, xenon, LEDs, OLED, and laser.

The automotive adaptive lighting market by technology is categorized into: halogen, xenon, and LED as the scope for OLED and laser for adaptive lighting is currently low. Halogen light dominated the global automotive adaptive lighting market and contributed 62.3% in 2016 and is expected to continue its dominance in the forecast period.

Factors such as low-cost and easy availability are major factors driving the demand for halogen light. LED light segment is expected to grow at the fastest rate in comparison to other light sources for automotive adaptive lighting market in the forecast period. Factors such as declining average price, low energy consumption, and increased service life are driving the demand of LED for automotive adaptive lighting market.

Front light application dominated the automotive lighting market and is also expected to grow at a faster rate in comparison to other applications. Factors such as increased development of technologies such as AFL and its importance in automotive illumination has contributed to being the lion's share in the automotive lighting market.

The passenger car segment was estimated to be the largest contributor to the overall market revenue. The major factors such as the growing sales of passenger cars especially in the emerging countries, increasing disposable income, and technological advancements boost the overall adaptive lighting market for passenger cars. Commercial vehicles market for adaptive lighting is expected to grow at a faster rate in comparison to passenger cars in the forecast period owing to factors such as increasing government regulations for better automotive safety systems and steadily rising commercial vehicle industry across the globe.

The automotive adaptive lighting revenue is generated mainly through two distribution channels: OEM and aftermarket. The automotive adaptive lighting sales through OEM channel is estimated to generate maximum revenue owing to factors such as increasing safety standards and government regulations and affordable product offerings by OEMs.

This report also covers the global automotive lighting market, by geography and consequently provides the revenue of the key regions which include North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and South America. Europe dominated the global automotive adaptive lighting market with a share of 55.14% in 2016, and is also expected to grow at a faster rate in comparison to other regions between 2017 and 2023. The market in the region is majorly driven by the need for safety against collision due to less visibility especially at night on highways.

Some of the key players in this industry are Koito Manufacturing Ltd (Japan), Valeo Group (France), Hella KGaA Hueck & Co. (Germany), Magneti Marelli S.p.A (Italy), Stanley Electric Co.(Japan), Zizala Lichtsysteme GmbH (Austria), and SL Corporation (South Korea) among others. These companies are aiming for an increased number of product launches and collaborations to expand their operations and prevent new companies from becoming potential future competitors.

Read the full report: http://www.reportlinker.com/p04959794/Global-Automotive-Adaptive-Lighting-Market-Analysis-and-Forecast-.html

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