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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Vehicles Lighting market for 2018-2023.
The lighting system of vehicles consists of lighting and signaling devices mounted or integrated to the front, rear, sides, and in some cases the top of a motor vehicle.
The lighting system consists of lighting and signaling devices mounted or integrated to the front, rear, sides, and in some cases the top of a motor vehicle. This lights the roadway for the driver and increases the visibility of the vehicle, allowing other drivers and pedestrians to see a vehicle's presence, position, size, direction of travel, and the driver's intentions regarding direction and speed of travel. Emergency vehicles usually carry distinctive lighting equipment to warn drivers and indicate priority of movement in traffic.
On the basis of technology, the market is segregated into halogen, xenon, and LED. Halogen dominated the industry in 2017 and is expected to grow at a CAGR of over 4.2% from 2017 to 2023. Low purchasing & replacement cost and easy availability are few factors for the adoption of halogen technology. They are available in different dimensions and are cost-effective and easy to replace. However, excessive heat loss while light radiation has increased awareness for energy efficiency leading to the reduced usage of halogen. LED lighting market accounted for over 10% of the overall share in 2017 and is expected to witness substantial growth over the forecast period. This is largely attributed to red LED applications such as indicators and brake lights
Over the next five years, LPI(LP Information) projects that Vehicles Lighting will register a 4.8% CAGR in terms of revenue, reach US$ 26100 million by 2023, from US$ 19700 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Vehicles Lighting market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Xenon Lights
- Halogen Lights
- LED
- Other
Segmentation by application:
- Front Light
- Rear Combination Light
- Fog Lights
- Interior Lighting
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Koito (Japan)
- Valeo (France)
- Hella (Germany)
- Magneti Marelli (Italy)
- ZKW Group (Austria)
- Lumax Industries (India)
- Varroc (USA)
- TYC (China)
- Xingyu (China)
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
- To study and analyze the global Vehicles Lighting consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Vehicles Lighting market by identifying its various subsegments.
- Focuses on the key global Vehicles Lighting manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Vehicles Lighting with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Vehicles Lighting submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.