Increase in Sales of Luxury Cars Expected to Drive Global Automotive Exterior Lighting Market: Ken Research

Posted May 25, 2021 by Anita1111

Global automotive exterior lighting market is expected to reach USD 44.7 billion by 2026, representing a 2020-2026 CAGR of 6.6%.
The automotive lighting system includes lighting & signaling devices, which are mounted on the front, sides, rear, and top sides of vehicles. Automotive exterior lights are generally consist of headlamps, daytime running lights, fog lights, park lights, signal lights, cab lights, tail lights, side marker lights, brake lights, reverse lights, center mount brake lights, and hazard flasher lights. These lights elucidate the roadway for the driver and augment the visibility of the vehicle in any position. Additionally, it allows other drivers & pedestrians to see the vehicle's presence, size, position, travel direction, and the driver's intentions regarding direction & speed.
As per analysis, “Global Automotive Exterior Lighting Market 2020-2026 by Technology, Product, Vehicle Type, Vehicle Autonomy, Sales Channel, and Region: Trend Forecast and Growth Opportunity” the key companies operating in the global automotive exterior lighting market include Johnson Electric Holdings, Flextronics International, Infineon Technologies, GE Lighting, Osram Licht AG, Koito Manufacturing Co. Ltd., Flex-N-Gate, Koninklijke Philips N.V., Phoenix Lamps Division, Stanley Electric Co., Ltd., Changzhou Xingyu Automotive Exterior Lighting System, Grupo Antolin, Magneti Marelli S.P.A., SCHOTT, Valeo, Gentex Corporation, Ichikoh Industries Ltd., Hella KGaA Hueck & Co., Pacific Insight Electronics and among others. Key manufacturers in the automotive exterior lighting market are directing their research & development (R&D) efforts to meet the specific norms set by the authorities. Automotive lighting industry has been observing considerably growing interest of numerous players in high performance as well as superior design capabilities of automotive exterior lighting systems. This trend is likely to authorize the automotive exterior lighting market supply chain with new companies that have special expertise in a variety of aspects of automotive exterior lighting technology.
On the basis of technology type, automotive exterior lighting market is categorized into LED, xenon and halogen. On the basis of product, market is categorized into sidelights, rear lighting, headlamps and other exterior lightings. On the basis of vehicle type, market is categorized into commercial vehicles and passenger vehicles. Additionally, on the basis of vehicle autonomy, market is categorized into autonomous and conventional vehicles.
The automotive exterior lighting market is driven by advancements in ADAS promoting new generation of smart lights, followed by increase in sales of luxury cars, rise in demand for EVs to boost LED adoption and growth in adoption of LED lights. However, stringent regulations to phase out old lighting technologies, increase in labor costs and high cost pressure on manufacturers may impact the market. Moreover, increase in adoption of OLED lighting technology, rise in advancements in automotive LED lighting technology and Introduction of laser light technology are key opportunities for market.
Based on geographic analysis, global automotive exterior lighting market is segmented as North-America, Asia-Pacific, Europe and rest of the world. It is expected that future of the global automotive exterior lighting market will be bright because of growth in implementation of power-train, infotainment, safety systems, connected vehicles, and electronics coupled with increase in investments in the engine downsizing that reduce weight of the vehicles during the forecast period.

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Issued By Ken Research
Country India
Categories Automotive , Transportation
Tags global automotive exterior lighting market , global automotive exterior lighting market forecast , global automotive exterior lighting market revenue
Last Updated May 25, 2021