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Global Automotive Lighting Market
Global Automotive Lighting Market was valued US$ 30.21 Bn in 2018 and is expected to reach US$ 48.16 Bn by 2026, at CAGR of 6.0% during forecast period.
Global Automotive Lighting Market
Increasing automobile production to address the increasing consumer demand is the major factor driving the automotive lighting market. Modern automobiles arrange technically-advanced systems like driving assistance and lighting control systems. The development and integration of the LED and laser technology into modern vehicles are creating growth opportunities for the industry.
The introduction of government regulations, like ECE regulations, by the European Commission on the manufacturing of automotive & general lighting products to control the environmental impact and low chemical use, promotes the consumption of modern lighting technology.
The automotive lighting market size is witnessing a steady growth with rising demand for automotive vehicles. Automotive vehicles, including passenger cars and commercial vehicles, needs energy-efficient and cost-effective lighting systems to support a safe driving experience. The growing population, increasing automotive production, and the increasing issues of vehicle safety prompted by the government regulations are driving the growth of the automotive lighting market.
Interior lighting application in automotive lighting market is expected to grow at 7.5% CAGR from 2018 to 2026. The interior lighting solutions in the automotive lighting market are gaining pull because of the implementation of improved lighting systems in the high-end and recent passenger cars that offer ambient and mood lighting features. Previously, these systems were deployed in luxury cars only, on the other hand, because of the high demand, the solutions are being applied in the passenger cars & commercial vehicles. The lighting solutions are used for providing driver safety and ensuring a clear visibility.
Several economies have come out with strict lighting regulations which needs a specific brightness or temperature of the headlamps. Automobiles in developed regions have already come up with a higher standard of lighting, but in order to save on expenses, they often do not meet the regulations. This will affect the developing markets to grow at higher rates.
Various countries in Asia Pacific and Europe, like China, India, Italy and France, are facing the problem of heavy traffic as well as fog formation because of the large number of four wheelers and heavy vehicles on road. Growing traffic congestion has also considerably increased the commute time, which is a noticeable concern for the working class population. The governments of different countries have adopted various solutions to deal with this situation, like limiting maximum driving speed. One actual solution to this problem of growing traffic is higher adoption of small-size and compact two-wheelers. So, increasing demand of two wheelers in the global market will, in turn, fuel the growth of automotive lighting market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Automotive Connectors Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Automotive Connectors Market.
For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-automotive-lighting-market/26778/
Scope of Global Automotive Lighting Market:
Global Automotive Lighting Market by Technology:
Global Automotive Lighting Market by Vehicle Type:
Global Automotive Lighting Market by Application:
Global Automotive Lighting Market by Region:
Middle East & Africa
Key Players Operating in Market Include:
Magneti Marelli S.p.A.
HELLA GmbH & Co. KGaA
Koninklijke Philips N.V.
Samsung Electronics Co. Ltd.
Koito Manufacturing Co., Ltd
Mahindra and Mahindra.
This Report Is Submitted By : Maximize Market Research Company
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