A recently released
report by Transparency Market Research (TMR) forecasts that the
global automotive lighting system market will expand at a healthy
CAGR of 8.10% from 2015 to 2021. TMR, a market intelligence firm,
states that by 2021, the global automotive lighting system market
will reach US$34.1 bn from US$19.9 bn in 2014. The report, titled
‘Automotive Lighting System Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021’,
is available for sale on the company website.
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Research Report of Automotive Lighting System Market :
According to this
TMR report, one of the main factors driving the global automotive
lighting system market is the expanding global automotive market.
Surging production of vehicles is a demand side driver whereas the
introduction of advanced lighting technologies is a supply side
driver in the global automotive lighting system market. Halogen, HID,
and LED are the most widely used technologies in this market. With a
shift of focus of the global automotive market towards customer
comfort and safety, the global automotive lighting system market is
expected to witness surging demand in the forthcoming years. Lighting
and signaling devices that are fitted to the exterior, rear, front,
and the interior sides of a vehicle together comprise the automotive
lighting system. Automotive lighting systems ensure safety while
driving at night and dark weather conditions.
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Report :
This research report
segments the global automotive lighting system market on the basis of
type of vehicle, position, and geography. On the basis of type of
vehicle, this market is segmented into luxury vehicle, MUV, SUV,
passenger vehicle, and heavy vehicle. Owing to an expanding pool of
the middle class population and their preference for passenger
vehicles, the segment for passenger vehicles holds the highest share
in the global automotive lighting system market. Based on position,
the global automotive lighting system market is categorized into side
lighting, interior lighting, rear lighting, and front lighting, with
the segment for front lighting position holding the largest share of
the global automotive lighting system market.
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Release of Automotive Lighting System Market :
Geographically, this
market research report segments the global automotive lighting system
market into Asia Pacific, Europe, North America, and Rest of the
World. Globally, Europe is the largest market for automotive lighting
system, and is expected to grow substantially in the forthcoming
years. With higher income levels and greater production of vehicles,
Asia Pacific is projected to be the fastest growing market in the
global market for automotive lighting system in the years to come.
High R&D costs, coupled with high costs of HID and LED lighting,
inhibit the growth of the global automotive lighting system market.
The prominent companies in the global automotive lighting system
market identified by this research report are Hella KGaA Hueck &
Co., Magneti Marelli S.p.A, Stanley Electrics Co. Ltd., Osram Licht
AG, Valeo S.A., General Electric, Hyundai Mobis, and Koninklijke
Philips N.V.
Automotive
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Automotive
Lighting System Market: By Vehicle
- Heavy Vehicle
- Passenger Vehicle
- SUV
- MUV
- Luxury Vehicle
Automotive
Lighting System Market: By Position
- Front Lighting
- Rear Lighting
- Interior Lighting
- Side Lighting
Automotive
Lighting System Market: By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
About Us :
Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use
proprietary data sources and various tools and techniques to gather
and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
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