Automotive Lighting Market worth $23.3 billion by 2027

1. MarketsandMarkets Presents • Automotive Lighting Market worth $23.3 billion by 2027 https://www.marketsandmarkets.com/Market-Reports/automotive-lighting-market-1133.html

2. The report "Automotive Lighting Market for ICE & EVs By Technology (Halogen, LED, Xenon), Position (Front, Side, Rear, Interior), Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting & Region - Forecast to 2027", The automotive lighting market is estimated to be USD 18.4 billion in 2019 and is projected to reach USD 23.3 billion by 2027, at a CAGR of 3.0% Rising disposable income has resulted in an increase in consumer spending capability to purchase premium vehicles, which, in turn, is expected to drive the growth of the market. Government initiatives for implementing adaptive lighting to increase the driver’s safety is another key factor anticipated to fuel market growth. Browse 167 market data Tables and 61 Figures spread through 202 Pages and in-depth TOC on "Automotive Lighting Market” Get The PDF Brochure For This Report@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1133

3. Passenger Car segment expected to be the largest segment for the automotive lighting market Passenger cars are expected to be the largest segment for the automotive lighting market on account of the rapid adoption of advanced lighting systems. Moreover, increasing sales of premium vehicles with pre-installed adaptive headlights, adaptive taillights, and ambient lights are expected to augment the growth of the segment further. Additionally, visual appeal is considered as a premium feature, and lighting is one of the vital parameters that add value to the visual appeal of the vehicle. The LED technology is expected to be the fastest-growing segment The LED technology is expected to grow at the fastest rate as this it offers a better package in terms of adaptive technology. Moreover, LED consumes less power in comparison to other technologies such as halogen and xenon. LED headlights also offer better visibility to the driver and reduce the illumination effect on the eyes of the driver in the opposite direction. Request for Customization @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1133

4. Asia Pacific to continue being the largest consumer of the automotive lighting market China was the largest manufacturer and consumer of the automotive lighting due to the presence of a robust automobile production base and huge domestic sales of cars. Other Asian countries such as Japan, Korea, and India showcased promising growth during 2017and 2018, and this trend is likely to continue till 2027. Asia Pacific is one of the main production bases for several European and North American automotive lighting manufacturers. Thus, the growing global sales of automobiles is expected to drive the growth of the automotive lighting industry. The key players automotive lighting market are areHella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Koito (Japan), Denso (Japan), North American Lighting (US), Renesas (Japan), Lumax (India), Aptiv (Netherlands), GrupoAntolin (Spain), Lear Corporation (US), Keboda (China), NXP (Netherlands), Gentex (US), FlexNGate (US), Federal-Mogul (US), Stanley Electric (Japan), Ichikoh (Japan), and Zizala (Austria). Request for Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1133

5. Key Questions addressed by the report: • What is the scenario of the automotive lighting market in different regions (Europe/North America /Asia Pacific/Brazil/Russia)? • Which of the adaptive lighting applications (On/Off, bending/curve, high beam assist, headlight leveling, rear adaptive, ambient light) will fare ahead of the others? • What are the key market trends impacting the growth of the automotive lighting market? • Which of the technologies (halogen, LED, xenon) is likely to be implemented the most during the next eight years? • What opportunities and threats are faced by the automotive lighting market vendors? • What are the key factors driving the global automotive lighting industry? • What are the key challenges for the seamless growth of the automotive lighting market? • What strategic initiatives are being implemented by the key players for business growth? • What are the M&A activities that have transpired in the last five years in this market, and what impact have they had on the industry? • To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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