The growing importance of vehicular safety and stringent norms established by the government agencies across the world is augmenting the growth of the global automotive exterior lighting system market. The development of innovative products such as laser headlamps and OLED lights will transform the automotive industry over the next few years. Major structural changes such as engine downsizing, electrification of automotive mechanism, emission regulations, connectivity, and safety are primarily driven by the safety norms established by regulatory bodies across the global market. The top vendors are focusing on developing advanced headlamps, rear lamps, fog lamps, daytime running lights, center high-mount stop light (CHMSL), turn indicators, rear signal lamps, and license plate lamps to gain a larger market share and attract a maximum number of consumers. With the growing demand for electric and hybrid vehicles, energy saving technology will gain prominence in the global market. The global automotive exterior lighting system market is projected to grow at a CAGR of approximately 6% during 2017-2023.

The top 5 vendors functioning in the global automotive exterior lighting system market are discussed below:

1.    KOITO MANUFACTURING

KOITO MANUFACTURING is one of the oldest companies in the global automotive exterior lighting system market involved in the manufacturing of lighting systems. The has R&D centers in China, Japan, North America, Europe, and Asia which works towards introducing the advanced technologies in their latest product offerings. KOITO is developing products to increase the use of LED headlamps. It developed LED Compact Bi-function which consists of one LED light source to switch between high-beam and low-beam. The company is leveraging its decades of experience to develop innovative lamps such as triple-eyed bi-function LED headlamp. Such innovations will augment the development of the global automotive exterior lighting system market.

Key Strategy: KOITO MANUFACTURING is focusing on the development of cutting-edge technologies that addressed the consumer needs in advance to gain a larger global automotive exterior lighting system market share.

2.    Magneti Marelli

Magneti Marelli company offers low to high-end exterior lighting under the automotive lighting wing headquartered in Reutlingen, Germany. In 2016, the company received “Top Innovator” award in German Midsized Companies-Summit. In 2016, Magneti Marelli Automotive Lighting Foshan was awarded by “FCA APAC the Best supplier of the year” in the category Body & raw materials. Such innovations are boosting the company’s revenues in the global automotive exterior lighting system market.

Key Strategy: Magneti Marelli is planning to develop integrated information communication and safety systems to reduce the number of accidents by keeping the driver and vehicle alert of the surroundings in the global automotive exterior lighting system market.

3.    Valeo

Valeo is active in automotive electronics and one of the key products in this segment include its range of visibility systems which consist of Lighting Systems and Wiper Systems. The company offers interior lighting, exterior lighting, and electronic wiper and blade-integrated washer systems in the global automotive exterior lighting system market. In 2017, Valeo acquired Ichikoh, becoming the world’s number one in automotive lighting. The company offers full intelligent lighting system architecture comprising headlamps, control units, cameras, and embedded software in the global automotive exterior lighting system market.

Key Strategy: Valeo plans to leverage its R&D capabilities to introduce new products in the global automotive exterior lighting system market.

4.    Hella

Hella operates majorly via three business units, among which the automotive business unit is divided into automotive lighting and automotive electronics divisions. The automotive lighting division develops high-resolution lighting system and works on the digitization of automotive lighting technology in the global automotive exterior lighting system market.  The business activities of the company are divided into four segments such as automotive lighting, automotive electronics, aftermarket, and special applications.

Key Strategy: Hella is focusing on the expansion of manufacturing capabilities to better serve the demand in the global automotive exterior lighting system market.

5.    OSRAM

OSRAM is one of the biggest lighting manufacturers with a vast experience in the global automotive exterior lighting system market. The company is continuously innovating in the field of automotive and specialty, to semiconductors, luminaries, lighting systems, and solutions. They have a vast product portfolio ranging from semiconductor-based technologies, infrared and lasers, networked intelligent lighting solutions in the global automotive exterior lighting system market.

Key Strategy: OSRAM is focusing on digitalization to generate new businesses for products in the global automotive exterior lighting system market.

The other prominent players in the global automotive exterior lighting system market are Stanley Electric, Magna International, Federal-Mogul, Johnson Electric Holdings, Bosch, Infineon Technologies, Panasonic Corporation, Samvardhana Motherson Group, Flex-N-Gate, Grupo Antolin, Flextronics International, Gentex Corporation, and Phoenix Lamps Division.

Read: Automotive Exterior Lighting System Market - Global Outlook and Forecast 2018-2023

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