Automotive LED Lighting Market Estimated to Expand at a Robust CAGR over 2023

Automotive LED Lighting Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Automotive LED Lighting Market by application (exterior lighting and interior lighting), and by vehicle type (passenger cars)  market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Automotive LED Lighting Market it includes the five years Industry analysis and the 6 years annual forecast from 2017 to 2023. Some of the prominent participants in the Global Automotive LED Lighting Market are Hella, Magneti Marelli S.P.A, Valeo, Koito Manufacturing Co. Ltd., Lumberg Holding, Stanley Electric, SG Automotive, Mercedes Benz, Koninklijke Philips N.V., and Osram Licht AG. According to report the global automotive LED lighting market is expected to grow at a CAGR of 18.2% over the forecast period of 2017 – 2023.

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Increase in purchasing power of individuals is creating more opportunities for the automotive lighting market growth

Automotive lighting consists of lighting and signaling devices integrated to the frontof a motor vehicle.Automotive vehicles consistof variety of lights to increase the visibility in darkness and bad weather conditions. Growing population and increasing automotive production are the factors driving the growth of the automotive LED lighting market.Additionally, rising concerns about vehicle safety initiated by government regulations are fueling the growth of the market. However, high cost of LED and high research and development costs are hampering the growth of the automotive lightening market. Furthermore, growing demand for automotive panels such as HUD, navigator and infotainment displays is anticipated to provide several growth opportunities for the key players in the automotive lightening market.Halogen was earlier a conventional choice for lighting in cars and other vehicles. However, with the advent of time, other lighting technologies became more prominent. Xenon and LED are the other prominent lighting technologies currently used. The leading players included in the report are General Electric (GE), MagnetiMarelli S.P.A, Koito Manufacturing Co. Ltd.Among the geographies, Asia Pacific is anticipated to be the fastest growing region followed by Europe and North America. Development of technological advancements of LED’s used in luxury cars is expected to showcase a significant rise in Europe.

Segments Covered

The report on global automotive LED lighting market covers segments such as application, and vehicle type. The application segments include exterior lighting, and interior lighting. On the basis of vehicle type the global automotive LED lighting market is categorized into passenger cars, LCV, bus, and others.

Geographic Coverage

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017 – 2023.

Major Key Players Mentioned in this Premium Report

The report provides profiles of the companies in the global automotive LED lighting market such as, Hella, MagnetiMarelli S.P.A, Valeo, Koito Manufacturing Co. Ltd., Lumberg Holding, Stanley Electric, SG Automotive, Mercedes Benz, Koninklijke Philips N.V., and Osram Licht AG.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global automotive LED lighting market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of automotive LED lighting market.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the automotive LED lighting market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the automotive LED lighting market to understand the present and future trends in this market and formulate their strategies accordingly.

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