PUBLISHED DATE : Sep 2018 | Pages : 223
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Automotive exterior lighting system market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product type (headlamps, rear lamps, fog lamps, and others), by vehicle type (economy, mid-priced, and luxury), by end-users (OEM and aftermarket), and by geography (APAC, Europe, North America, Latin America, and MEA) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018– 2023
223 Pages
71 Tables
117 Charts
5 Regions
9 Countries
18 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 43 BILLION (2023) |
| CAGR | 6% (2017-2023) |
| BASE YEAR | 2017 |
| FORECAST YEAR | 2018-2024 |
| MARKET SEGMENTS | Segmentation by product type (headlamps, rear lamps, fog lamps, and others), by vehicle type (economy, mid-priced, and luxury), by end-users (OEM and aftermarket) |
| GEOGRAPHIC ANALYSIS | APAC, Europe, North America, Latin America, and MEA |
| COUNTRIES COVERED | China, India, Japan, Germany, US, Mexico and Brazil |
The increasing demand for superior systems that enhances users’ driving experience and convenience is propelling the growth of the global automotive exterior lighting system market. The lighting systems available in the global market comprises a variety of headlamps, rear lamps, fog lamps, and small lamps. The increasing initiatives by government agencies to promote road safety campaigns will lead to innovations and the introduction of advanced automotive lighting systems in the market. The development and adoption of ADAS technology will augment the demand for laser headlamps and OLED lights in the global market. Factors such as engine downsizing, electrification of automotive mechanism, emission regulations, connectivity, and safety electronics will revolutionize the automotive industry over the next few years. The electrification of vehicles is the development of powertrain, infotainment, connected vehicles, safety systems, and electronics will lead to the growing demand for sophisticated systems in the global market. The introduction of electric and hybrid vehicles and the establishment of safety and emission regulations will create lucrative opportunities for key players operating the global market. The dynamic changes in modified technology and macroeconomic volatility will impact the sales and unit forecasts in the market. The constant innovations in the electrification of engine mechanism and propulsion technologies will drive the global automotive exterior lighting system market.
The extensive price-wars among APAC manufacturers are encouraging them to expand their business in the North American and European market to attract new consumers. The growing adoption of automotive sensors and the use of energy efficient lightings such as LED and OLED will boost sales in the global market. T
The rapid advancements in automotive LED lighting technologies will transform the global automotive exterior lighting system market over the next few years. The leading OEMs are offering LED lights with the flexibility of design with increased performance levels to gain a larger market share. LEDs are used for center high-mount stoplights, rear combination lights, front turn signals, side markers, and specialized interior lighting in the automotive industry. The leading manufacturers are focusing on enhancements in luminous flux, luminance, efficacy, color control, thermal resistance, and operating temperature to boost the sales in the global market. Major upgrades in terms of cost-effectiveness, thermal conductivity, and operating performance will attribute to the evolution of the global automotive exterior lighting system market.
This market research report includes a detailed segmentation of the market by product type, vehicle type, end-users, and geography.
Introduction of LED and laser headlights to transform the global automotive exterior lighting system market
The global automotive exterior lighting system market by product type is classified into headlamps, rear lamps, fog lamps, and others. Headlamps segment dominated almost 3/4th of the market share in 2017, growing at a CAGR of around 6% during the forecast period. The increasing adoption of LED and laser headlights is augmenting the growth of this segment in the global market. The increasing investments in R&D activities and the implementation of stringent safety regulations are expected to revolutionize the products available in the market. The advancement in technologies is leading to the implementation of the advanced front-lighting system (AFS) in the global market. This technology provides effective lighting depending on numerous factors such as steering angle, GPS, and road curves ensuring passenger and driver safety in the market. The rapid technological advancements and growing automotive industry will boost the demand in the global automotive exterior lighting system market.
Adaptive lighting systems in economy cars will boost revenues in the global automotive exterior lighting system market
The vehicle type segment in the global automotive exterior lighting system market is categorized into the economy, mid-priced, and luxury. Economy cars segment occupied more than half of the market share in 2017, growing at CAGR of approximately 5% during the forecast period. The development of adaptive lighting systems in sync with ADAS technologies will lead to the evolution of this segment in the global market. The increasing investment in the R&D for powertrain chassis system, body electronics, safety and security system, telematics, and infotainment systems will create lucrative opportunities for key manufacturers in the global market. The introduction of safety norms by government agencies to reduce the fatality and injury rate due to road accidents will boost demand in the global automotive exterior lighting system market. The leading economy car vendors are focusing on attaining certifications from the new car assessment program (NCAP) and the United States National Highway Traffic Safety Administration (NHTSA) to attract larger group consumers and gain global market share.
Favorable tax policies in China and the US will help OEMs to occupy a larger share in the global automotive exterior lighting system market
The global automotive exterior lighting system market by end-users is segmented into OEMs and aftermarket. OEMs segment dominated the majority market share in 2017, growing at a CAGR of over 6% during the forecast period. The increasing profits from regions such as the US, China, Europe, Japan, and South Korea will propel the growth of this segment in the global market. The changes in tax policies and trade regulations in the US, Canada, and Mexico will benefit the vendors operating the in the global market. The supportive economic environment including a recovery in Latin America and Russia will boost sales in the market. The strategic partnerships between suppliers and OEMs will help them reduce operational costs and increase their revenues in the global market during the forecast period. The rapid electrification and developments in lighting technology will positively impact this segment in the global market.
Increased SUV sales in China will help APAC lead the global automotive exterior lighting system market during the forecast period
The geographical segment in the global automotive exterior lighting system market is divided into APAC, Europe, North America, Latin America, and MEA. APAC occupied the largest market share in 2017, growing at a CAGR of around 6% during the forecast period. The increasing production across China, Japan, India, and South Korea will boost the development of the APAC region in the global market. The growing sales of SUVs in China and other countries in APAC will increase the performance of the automotive market in this region. The presence of large manufacturers such as Toyota, Honda, Suzuki, and Nissan will contribute to the revenues in the global automotive exterior lighting system market. The advent of the favorable economic environment, availability of financing options, and established presence global OEMs will attribute to the increased sales and help companies in APAC to gain a larger market share. The digital revolutions and supportive trade reforms will increase revenues in the APAC market.
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