The Global Market for Vehicular Lighting is Projected to Reach 2.6 Billion Units by 2020
Stringent Lighting & Light Signaling Laws Spur
Growth in the Vehicular Lighting Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Vehicular Lighting. The
global market for Vehicular Lighting is projected to reach 2.6 billion units by
2020, driven by the legislation and strict implementation of lighting &
light signaling laws in modern cities.
Motor vehicle
safety technologies have evolved massively over the last couple of decades, driven
partially by government mandates and OEM focus on automotive safety features as
a means for brand differentiation in the marketplace. Safety technologies
provide the perfect platform for creating real functional differentiation
between vehicle models. Lighting represents the most basic safety requirement in
automobiles. Clear visibility of the driving area is a critical need for night
travels. The importance of driver visibility cannot be undermined, given the
fact that compromised and poor visibility is widely acknowledged as a prime
cause for vehicle accidents across the globe. Poor visibility especially during
harsh weather conditions such as rain, dew, and snow is often cited as the
prime cause for accidents, especially winter driving accidents.
Vehicular
lighting technologies, such as, High-intensity discharge (HID) headlights,
light-emitting diode (LED), Xenon lamps and adaptive head lights (AHL) have long
been researched and developed for their ability in increasing the visibility
factor. Over the years, motor vehicle manufacturers have developed high-performance
lighting modules that emit uniform light beams, ensuring proper visibility.
High Intensity discharge beams, electronically controlled-swiveling front
lighting systems and non-blurring intelligent headlamps have marked the dawn of
‘electronic eyes’ for vehicles on road. Sales of headlamps will continue to
benefit from the growing production of automobiles in developing countries. Growth
in the aftermarket is driven by strong replacement needs. Damages to lighting
systems caused by accidental vehicle collisions account for a large chunk of
replacement orders in the aftermarket segment. Replacement of exterior lighting
components in particular is a major contributor to growth.
As stated by the
new market research report on Vehicular Lighting, Asia-Pacific represents the largest
and the fastest growing market worldwide with a CAGR of 7.0% over the analysis
period. The region’s dominance is supported by the large automotive production base.
China ranks as one of the world’s
largest producer of passenger cars and commercial vehicles. As economic growth
in the BRIC countries begins to slow down, emerging non-BRIC countries grouped
under multiple acronyms such as CIVETS, MIST, Next 11, and MINT will help
supplement long-term growth in the market.
Major players in
the global marketplace include Advanced Lighting Technologies Inc., Biketronics
Inc., Custom Dynamics®, LLC, Custom LED LLC, Federal-Mogul Corporation,
Flextronics International, Hella KGaA Hueck & Co., Changchun Hella
Automotive Lighting Co., Ltd., Ichikoh Industries Ltd., Kisan Electronics, Koito
Manufacturing Company Ltd., North American Lighting Inc., Koito Europe Ltd., Shanghai
Koito Automotive Lamp Co. Ltd., Koninklijke Philips Electronics NV, Philips Lighting
B.V., Lumax Industries Limited, Magneti Marelli S.P.A, Automotive Lighting
Reutlingen GmbH, NEOLITE ZKW Lighting Pvt. Ltd., Odelo GmbH, OSRAM AG, PIAA
Corporation, Robert Bosch GmbH, Stanley Electric Co., Ltd., Valeo SA, Whelen
Engineering Inc., and Zizala Lichtsysteme GmbH, among others.
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