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India Automotive Lighting Market - Industry Size & Share, 2022

Read more@ https://www.alliedmarketresearch.com/india-automotive-lighting-market<br>Key reasons that boost the Indian automotive lighting market are the technological advancements and increasing purchasing power. Based on vehicle type, the market is classified into passenger vehicles, commercial vehicles, two-wheelers, three-wheelers, and tractors. Passenger vehicles is estimated to be the largest vehicle type segment for automotive lighting. The demand for aesthetic lighting features is expected to support the demand for lights in compact cars as well as SUVs. The segment constituted nearly 45% of revenue in 2014.

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India Automotive Lighting Market - Industry Size & Share, 2022

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  1. India Automotive Lighting Market Global Opportunity Analysis and Industry Forecasts, 2014 - 2022 India Automotive Lighting Market by Technology (Halogen, Xenon, LED), Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two-Wheelers, Three-Wheelers, Tractors), Sales Channel (OEM, Aftermarket Product)

  2. INTRODUCTION • Lighting is a vital component in automotive vehicles, playing an important role in automotive safety. • The vehicle consists of different lights to increase the visibility in darkness and bad weather conditions along with the increase in conspicuity. • The lighting system comprises lighting and signalling devices, which are placed at different locations such as front, rear, side, and interiors. • Lighting provides illumination for the driver and helps other vehicle drivers and pedestrians on the road to detect the vehicle’s position, direction of movement, and size. It also enhances the aesthetic looks to both interior and exterior parts of the vehicle. India Automotive Lighting Market

  3. Current and Future Market Scenario • In 2014, Halogen accounted for the highest revenue generation. • The India Automotive Lighting Market has witnessed moderate growth during the past few years and is expected to grow at a CAGR of 5.6% during the forecast period. • India Automotive Lighting Market is expected to garner $3.1 billion by 2022, Globally. • LED automotive lights have gained increased demand from customers owing to their long shelf life and low temperature. India Automotive Lighting Market

  4. Factors Contributing to Market Growth • The India automotive lighting industry witnesses a steady growth on account of the growing automotive production and increasing emphasis on vehicle safety and government regulations regarding automotive lighting systems. • OEM market led by contributing 54% of total revenue in 2014, and is projected to grow at a CAGR of 5.7%. • Fluctuating prices of raw materials and high R&D cost restrain the market growth. • Other factors that contribute to market growth are: • Growing emphasis towards road safety • Government regulations India Automotive Lighting Market

  5. Market Segments India Automotive Lighting Market

  6. Top Impacting Factors of India Automotive Lighting Market • Growing emphasis towards road safety: Rising number of road accidents during bad weather conditions and night is the prime concern among vehicle drivers. • Emerging government regulations: The Indian government has formulated various regulations regarding sufficient installation of lighting equipment in passenger vehicles. • Growing automobile sales: Automobile sales has witnessed notable growth rate in India. The revival of economy has particularly supported the growth in the recent past.  India Automotive Lighting Market

  7. Leading Players • The leading players in the India Automotive Lighting Market are highly focused to expand their business operations in the fast-growing emerging countries with new product launches as the preferred strategy. • Koninklijke Philips N.V., Phoenix Lamps Limited, Lumax Industries Limited, OsramLicht AG, GE Lighting, MagnetiMarelliS.p.A., Koito Manufacturing Co. Ltd., HellaKGaAHueck & Co., Valeo, and Neolite ZKW Lightings Pvt. Ltd.are key players in this industry. India Automotive Lighting Market

  8. Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/india-automotive-lighting-market Follow Us On India Automotive Lighting Market

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