The Global Market for Vehicular Lighting is Projected to Reach 2.3 Billion Units by 2024
Short
Replacement Cycles of Automobile Lightbulbs & the Ensuing Robust
Opportunities in the Aftermarket Sustains Growth in the Global Vehicular
Lighting Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry
segments, trends, growth drivers, market share, size, and demand forecasts on
the global Vehicular Lighting market. The global market for Vehicular Lighting is projected to reach 2.3 billion
units by 2024, driven by the relatively shorter life of
halogen lightbulbs which continue to dominate the mainstream automotive market
despite the growing popularity of longer lasting alternatives such as LEDs,
high intensity discharge (HID) and Xenon and the resulting rise in replacement
demand.
Vehicular lighting is one of the most basic safety
requirements for vehicles, particularly for night travels. As one of the early
road safety technologies, vehicular lighting, especially headlamps have been
thriving over the years, riding on increased production of automobiles
globally. Ensuring clear visibility, headlamps have been providing high level
of on-road safety over the years, both to the drivers as well as pedestrians.
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. Seeing and being seen constitutes the most critical
issue for enhancing on-road safety.
Vehicular lighting technologies, such as, High-intensity
discharge (HID) headlights, third brake lights and light-emitting diode (LED)
rear combination lamps, LED-based front lighting Xenon lamps and automatic high
beam, adaptive head lights (AHL), for long have been researched and developed
for their ability in increasing the visibility factor. Over the years, motor
vehicle manufacturers devised 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 came into the market as a result of their
endeavor, which marked the dawn of ‘electronic eyes’ for vehicles on road.
Currently, vehicle designers, manufacturers and consumers have opened up to new
lighting technologies. As such, lighting options considered luxury until
recently, are becoming a standard feature in newer models.
Automotive OEMs are increasingly providing adaptive
headlights in new vehicle models to provide enhanced features of increased
visibility range for drivers, especially around curves and sharp bends and
while driving on hills. Adaptive headlights are able to adjust light
distribution based on steering angle. With adaptive lighting, collision rates
can be greatly reduced especially in night-time driving. Increasing need for
more safety features in vehicles would fuel further demand for adaptive-front
lighting systems in the coming years. Additionally, automotive OEMs are
increasingly making use of this feature for the purpose of differentiation
among competitors, which is contributing to market growth. Innovatively
designed adaptive lighting systems would also increase the aesthetic appeal of
a vehicle. Currently, only higher-end models of major automotive OEMs are being
integrated with adaptive headlights but soon, as the prices come down, the
lighting systems would see widespread adoption in all categories of vehicles. Laser
headlights and adaptive LED are some of the key developments that have been
witnessed in the automotive lighting space in recent years. Matrix LED or
adaptive LED systems include a grid of LEDs that switch-on and off
automatically based on the direction of the movement of the car and the
oncoming vehicles on the road.
As stated by the new market research report on Vehicular Lighting, Asia-Pacific ranks as the
largest market worldwide, followed by Europe. Rest of World, comprising the
Middle East and Africa, is forecast to witness the fastest growth with a CAGR
of 7.2% over the analysis period led by the growing base of affluent
population, increasing per capita vehicle ownership, rising number of vehicle miles
travelled, inadequate transportation infrastructure and bumpy roads that damage
halogen bulb filaments and shorten the replacement cycle, and growing OEM interest
in emerging energy efficient vehicular lighting technologies. Automotive Lamps represent the largest as
well as the fastest growing product segment owing to the increasing number of
lighting modules being installed in vehicles.
Major players in the market include Advanced Lighting
Technologies LLC, Custom Dynamics® LLC, Flex Ltd., Hella KGaA Hueck & Co.,
Changchun Hella Automotive Lighting Co. Ltd, Koito Manufacturing Co. Ltd.,
North American Lighting Inc., Koito Europe Limited, Shanghai Koito Automotive
Lamp Co. Ltd., Lumax Industries Limited, Magneti Marelli S.P.A, Automotive
Lighting Reutlingen GmbH, NEOLITE ZKW Lighting Pvt. Ltd, Odelo GmbH, OSRAM
GmbH, PIAA Corporation, Robert Bosch GmbH, Stanley Electric Co. Ltd., Valeo
S.A, Ichikoh Industries Ltd., and ZKW Group among others.
The research report titled "Vehicular Lighting: A Global Strategic
Business Report"
announced by Global Industry Analysts Inc., provides a comprehensive review of
market trends, growth drivers, innovations and launches, and strategic industry
activities of major companies worldwide. The report provides market estimates
and projections in units for lighting modules for all major geographic markets
including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain,
Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest
of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America),
and Rest of World. Product segments analyzed in the report include Automotive
Lamps (Headlamps, Tail Lamps/Brake Lamps,
Signaling/Flasher Lamps, Fog Lamps, and Other Automotive Lamps), and
Motorcycle Lamps (Headlamps, Tail Lamps,
and Flasher Lamps).
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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