DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Lighting Market for ICE & EVs By Technology (Halogen, LED, Xenon), Position (Front, Side, Rear, Interior), Application, Adaptive Lighting & Region - Forecast to 2022Re" report to their offering.
The Lighting Market for Automotive, By Value, is Projected to Grow at a CAGR of 6.80% from 2017 to 2022, to Reach USD 29.97 Billion By 2022
Increase in vehicle production and lighting applications to upsurge the lighting demand in automotive industry
In addition to growing vehicle demand and increasing lighting applications, factors such as safety regulations and rising demand for comfort and luxury are expected to fuel the demand for advanced technologies such as adaptive lighting systems. The major factors hindering the growth of the Lighting market for Automotive are the high cost involved in R&D and fluctuating prices of raw materials.
The market for front LED technology, by value, is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. This growth can be attributed to the benefits offered by LED technology, such as energy efficiency, low power consumption, lightweight, and flexibility. These benefits help to minimize the design constraints as compared to halogen lamps.
The technology is estimated to lead the front lighting segment with applications such as Daytime Running Lamp (DRL), and projector headlamps as well as interior lighting segment where its applications are dashboard, glovebox, reading, dome, and rear view mirror lights.
The front adaptive lighting market is expected to be the largest and fastest growing segment in the Lighting market for Automotive, by adaptive lighting. This growth can be attributed to stringent safety regulations in Europe and increased adoption of adaptive lighting features in premium cars in the Asia-Oceania region.
Asia-Oceania region to dominate the market growth.
- Lighting Regulations for Better Visual And Safety
- Increased Demand for Premium Segment Vehicles to Drive the Demand for Advanced Lighting Solutions
- Heavy Investment in R&D & Complex Lighting System Hindering the Growth of Lighting Market
- Fluctuating Prices of Raw Materials
- High Cost of Led Lights Or Modules
- Major Automobile Oems Partnering With Lighting System Manufacturers
- Evolution of New Applications
- AGM Automotive
- Federal Mogul Corporation
- General Electric Company
- Grupu Antolin
- Hella Kgaa Hueck & Co.
- Hyundai Mobis
- Ichikoh Industries Ltd.
- Koito Manufacturing Co. Ltd.
- Koninklijke Philips N.V.
- Magneti Marelli
- Minda Industries Limited
- North American Lighting
- Osram Gmbh
- Robert Bosch Gmbh
- Samvardhana Motherson Group
- Stanley Electric Co. Ltd.
- Tyc Genera
- Valeo S.A.
- Varroc Lighting
- Zizala Lichtsysteme Gmbh
For more information about this report visit https://www.researchandmarkets.com/research/t5d5xs/lighting_market