The demand from passenger vehicles is driving the sales of automotive lighting.

ROCKVILLE, MARYLAND, UNITED STATES, January 21, 2022 /EINPresswire.com/ -- According to Fact.MR, the sales of automotive lighting exceeded US$ 25 Bn by the end of 2021. Demand for automotive lighting has witnessed substantial growth in the last few years due to an increase in the number of on-road vehicles and rise in global vehicle production.

In addition, demand for front lights and their components remaining high are driving the sales of automotive lighting. Thus, the automotive lighting industry is projected to expand at over 6% CAGR by garnering a revenue of US$ 45 Bn from 2021 to 2031.

The Demand of Automotive Lighting Market study includes the current market scenario on the global platform and also Sales of Automotive Lighting Market development during the forecast period.

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Key Segments Covered

Application
Front Headlights
Fog Lights
Rear Lights
Side Lights
Interior Lights

 Vehicle Type
Automotive Lighting for Passenger Cars
Automotive Lighting for Light Commercial Vehicles (LCVs)
Automotive Lighting for Heavy Commercial Vehicles (HCVs)
Automotive Lighting for Electric Vehicles
Automotive Lighting for Two Wheelers

Light Source
Halogen Automotive Lighting
Xenon Automotive Lighting
LED Automotive Lighting

Sales Channel
Automotive Lighting through OEMs
Automotive Lighting through Aftermarket

SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player, both at global and regional levels.

The latest industry analysis and survey on Automotive Lighting provides sales outlook in 20+ countries, across key categories. Insights and outlook on Automotive Lighting market drivers, trends, and influencing factors are also included in the study.

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Key Takeaways from Market Study
Automotive lighting manufacturers are utilizing a large part of their revenue in R&D activities for lighting components. Emergence of new technologies is accelerating market growth. Many car manufacturers are providing components that have better lighting performance, flexible design, and low power consumption.
Various technologies such as LED lights, halogen lights, and laser technologies are being used for exterior and interior lightings.
Many players are not able to manufacture lighting components due to shortage of electronic components from countries such as China and Japan due to COVID-19 restrictions.
Key players in the market are using mergers & acquisitions as one of their key strategies to acquire and maintain maximum market share and geographical share.
Front headlights constitute the highest market share, and the segment is expected to expand at a CAGR of around 4% through 2031.
Passenger vehicles hold the highest market share, with the segment projected to progress at a CAGR of close to 6% over the next ten years.

This report gives you access to decisive data such as:

Demand of Automotive Lighting Market & Growth drivers
Factors limiting Automotive Lighting market growth
Current key trends of Automotive Lighting Market
Market Size of Automotive Lighting and Automotive Lighting Sales projections for the coming years

The report also offers key trends of Automotive Lighting market and an in-depth analysis of how the projected growth factors will shape the Automotive Lighting market dynamics in the coming years of the forecast period.

Moreover, it also gives meaningful as well as actionable insights on the competitive analysis of Automotive Lighting Market that are developing the current market scenario and which will be lucrative for the future demand of Automotive Lighting Market.

Crucial insights in Automotive Lighting market research report:

Basic overview of the Automotive Lighting, including market definition, classification, and applications.
Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend and supply side analysis of Automotive Lighting across various industries.
Important regions and countries offering lucrative opportunities to market stakeholders.

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The Market insights of Automotive Lighting will improve the revenue impact of businesses in various industries by:

Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Automotive Lighting Market
Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Automotive Lighting market and offers solutions
Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
Helping leading companies make strategy recalibrations ahead of their competitors and peers
Offers insights into promising synergies for top players aiming to retain their leadership position in the market & supply side analysis of Automotive Lighting market .

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Competitive Landscape

The market is moderately competitive in nature, with the presence of a large number of players operating in the space. Introducing latest technologies in the market is a key expansion strategy, as are collaborations with OEMs and maintaining long-term relations with them for future business prospects.

In December 2020, OSRAM Licht AG introduced the Ostune E1608 and E3030 automotive interior lighting, offering a wide color temperature range from 2700 to 6500 K, which are highly energy-efficient
Likewise, in September 2021, HELLA KGaA introduced a new Modular Lightbar equipped with advanced LED technology for municipal vehicles. This light helps ensure optimum signalling effects as well as homogeneous illumination of the working area
Why are Automotive Lighting Sales Surging in India?

The Indian automotive lighting industry is mostly driven by increase in production of vehicles. Growth of the population and increase in purchasing power of customers are also accelerating the sales of new vehicles in India, which is also impacting demand for automotive lighting, both, automotive rear lights and automotive front lights, in a positive way.

The automotive aftermarket plays a crucial role for lighting manufacturers, as the condition of roads in India often can cause injuries. Attributed to these trends, the market for automotive lighting is expected to capture a market share worth 58% until 2031.

Browse More Reports by Fact.MR : -https://www.globenewswire.com/en/news-release/2018/04/19/1481616/0/en/Asia-Pacific-Excluding-Japan-APEJ-to-Witness-Significant-Demand-for-Industrial-Protective-Clothing-Fabrics-During-the-Assessment-Period-Observes-Fact-MR.html

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