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

SKU : ARZ180710
  • Published on : September 2018

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This market research report on the global 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).

Automotive Exterior Lighting System Market - Overview

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. The global automotive exterior lighting system market is estimated to reach revenues of more than $43 billion by 2023, growing at a CAGR of approximately 6% during 2017-2023. The market research report offers market size analysis in terms of unit shipment values during the forecast period.

Automotive Exterior Lighting System Market at Glance

 

Automotive Exterior Lighting System Market - Dynamics

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.

Automotive Exterior Lighting System Market - Segmentation

This market research report includes a detailed segmentation of the market by product type, vehicle type, end-users, and geography.

Segmentation of Automotive Exterior Lighting System Market

 

Automotive Exterior Lighting System Market – By Product Type

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.

Automotive Exterior Lighting System Market – By Vehicle Type

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.

Automotive Exterior Lighting System Market – By End-Users

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.

Automotive Exterior Lighting System Market – By Geography

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.

Key Countries Profiled

The key countries profiled in the report are:

  • China
  • India
  • Japan
  • Germany
  • US
  • Mexico
  • Brazil

Key Vendor Analysis

The global automotive exterior lighting system market is very diverse across geographies and has its own competitive dynamics and intensity of competition. The presence of several players that compete for prices in APAC will intensify the competition level in the global market. The economic recovery in Brazil and Argentina will encourage the manufacturer to expand their businesses in the Latin American region in the global market. The increasing focus on product differentiation and competitive prices will help vendors to sustain the competition in the global automotive exterior lighting system market during the forecast period.

The major vendors in the global market are:

  • KOITO MANUFACTURING
  • Magneti Marelli
  • Valeo
  • Hella
  • OSRAM

 

Other prominent vendors include 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.

Key market insights include

  1. The analysis of global automotive exterior lighting system market provides market size and growth rate for the forecast period 2018-2023.
  2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global automotive exterior lighting system market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of the global automotive exterior lighting system market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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