Automotive lighting market to register extensive growth via LED technology

Global Automotive Lighting Market report focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

LED technology in the automotive lighting market is expected to witness several growth opportunities over the forecast timeline. The penetration of LED technology from high-end to mid-range and low-range vehicles is one of the major factors contributing to the growth of the automotive lighting industry. This is attributed to the declining costs of LEDs ensued by the optimization and the calibration of LED modules, which is compelling the car manufacturers to introduce LED lighting in economical cars as well. The benefits include more brightness and low power consumption.

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The revolutionary development of high-performance light sources is also one of the approaches undertaken by companies to gain a competitive edge over their rivals in the automotive lighting market. The growing awareness among the product developers about energy efficient lighting systems has been encouraging them to adopt new business tactics focused around this parameter. Merely a few months before, LG Electronics acquired the well-known automotive lighting and headlight systems provider, ZKW Group.

Automotive Lighting Market is expected to reach USD 40 billion by 2024. Increasing road safety concerns across the globe have pushed the integration of advanced lighting systems in automobiles. These systems are witnessing extensive upgrades and are adopted by automotive manufacturers to provide a superior experience to the drivers.

Growth drivers

  • 5.1.1   Increasing concerns regarding road safety to propel global demand
  • 5.1.2   Emerging government regulations
  • 5.1.3   Flourishing automotive industry in China
  • 5.1.4   Premium car production in Germany
  • 5.1.5   Penetration of LED technology from high-end to mid-range and low-end vehicles in the U.S
  • 5.1.6   Focus of companies on the Asia Pacific region to boost demand

Flourishing automotive industry across the globe is majorly driving the implementation of the automotive lighting market products. High production of vehicles, automotive spares, and systems in countries including Germany and China are driving the industry growth.

Global automotive lighting market outlook has observed a plethora of changes in the last few years, driven by the shifting preference toward advanced efficient lighting as opposed to traditional lighting. Designed with highly innovative technologies, excellent aesthetics, and quality, automotive lighting systems, over the last few years, have undergone a sea of change pertaining to the advent of optics and laser technologies

Prominent automotive lighting market players include Magneti Marelli S.p.A., General Electric, Hyundai MOBIS, HELLA GmbH & Co. KGaA, Namyung Lighting, Philips NV, Osram Group, and Varroc. The key industry players adopt efficient product development strategies including partnerships and mergers.

Browse key industry insights spread across 170 pages with 147 market data tables & 27 figures & charts from the report, “Automotive Lighting Market “ in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/automotive-lighting-market

Companies in the automotive lighting market adopt low and value-based pricing strategies to pose entry barriers for new participants and offer increased product efficiency.

Chapter 1   Methodology & Scope

1.1   Methodology

1.1.1   Initial data exploration

1.1.2   Statistical model and forecast

1.1.3   Industry insights and validation

1.1.4   Definition and forecast parameters

1.1.4.1   Definition

1.1.4.2   Methodology & forecast parameters

1.2   Data Sources

1.2.1   Secondary

1.2.2   Primary

Chapter 2   Executive Summary

2.1   Automotive lighting industry 360synopsis, 2013 – 2024

2.1.1   Business trends

2.1.2   Regional trends

2.1.3   Technology trends

2.1.4   Vehicle type trends

2.1.5   Application trends

Chapter 3   Automotive Lighting Industry Insights

3.1   Industry segmentation

3.2   Industry landscape

3.3   Industry ecosystem analysis

3.3.1   Distribution channel analysis

3.3.2   Vendor matrix

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-lighting-market

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