Global Industry Analysts Predicts the World Vehicular Lighting Market to Reach 2.1 Billion Units by 2026

SAN FRANCISCO, Sept. 28, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Vehicular Lighting - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 20; Released: April 2021
Executive Pool: 2378
Companies: 184 - Players covered include Advanced Lighting Technologies, LLC; Automotive Lighting Reutlingen GmbH; Changchun Hella Automotive Lighting Co., Ltd; Custom Dynamics, LLC; Flex Ltd.; Hella KGaA Hueck & Co.; Ichikoh Industries, Ltd.; Koito Europe Limited; Koito Manufacturing Co., Ltd.; Lumax Industries Limited; Magneti Marelli S.P.A; NEOLITE ZKW Lighting Pvt. Ltd; North American Lighting, Inc.; Odelo GmbH; OSRAM GmbH; PIAA Corporation; Robert Bosch GmbH; Shanghai Koito Automotive Lamp Co., Ltd.; Stanley Electric Co., Ltd.; Valeo S.A; ZKW Group and Others.
Coverage: All major geographies and key segments
Segments: Product Segment ( (Automotive) Tail Lamps/Brake Lamps, (Automotive) Headlamps, (Automotive) Signaling/Flasher Lamps, (Automotive) Fog Lamps, (Automotive) Other Lamps, (Motorcycle) Flasher Lamps, (Motorcycle) Tail Lamps, (Motorcycle) Headlamps)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Vehicular Lighting Market to Reach 2.1 Billion Units by 2026
Amid the COVID-19 crisis, the global market for Vehicular Lighting estimated at 1.7 Billion Units in the year 2020, is projected to reach a revised size of 2.1 Billion Units by 2026, growing at a CAGR of 3.2% over the analysis period. (Automotive) Tail Lamps/Brake Lamps, one of the segments analyzed in the report, is projected to record a 3.4% CAGR and reach 385.3 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the (Automotive) Headlamps segment is readjusted to a revised 3.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at 483.5 Million Units in 2021, While China is Forecast to Reach 423.8 Million Units by 2026
The Vehicular Lighting market in the U.S. is estimated at 483.5 Million Units in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 423.8 Million Units by the year 2026 trailing a CAGR of 5.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.

(Automotive) Signaling/Flasher Lamps Segment to Reach 224.3 Million Units by the year 2026
In the global (Automotive) Signaling/Flasher Lamps segment, USA, Canada, Japan, China and Europe will drive the 2.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of 143.2 Million Units in the year 2020 will reach a projected size of 168.1 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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