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Global Automotive Lighting Market Revenue Forecast to Reach $25.36 Billion by 2018

Oct 8 2013

Research and Markets has announced the addition of the "Automotive Lighting Market: By Position (Front, Rear, Side, & Interior), Technology (Halogen, Xenon/HID, & LED), Vehicle Type, & Geography - Global Trends & Forecast To 2018" report to their offering.

In any automobile, lighting is a very essential component. With continuous developments in LED and adaptive lighting technologies, many automotive manufacturers have ended up lowering the level of energy consumption in various lighting units as well as enhanced the safety aspect of the vehicle by providing improved visibility. The primary purpose of lighting in vehicle is to provide visibility for the driver under darkness and bad weather conditions and to intimate the vehicle presence, position, and size to other pedestrians and motorists on the road. Other than these purposes, lighting is also installed inside vehicles to increase the look of vehicles interior, which has become a major part of attraction mainly in passenger cars. The three major technologies used in automotive lighting are halogen, xenon/HID, and LED of which halogen is the most widely used technology.

The report segments the market based on lighting position (front, rear, side, and interior); technology (halogen, xenon/HID, and LED); vehicle type (passenger cars, light & commercial vehicles, and two wheelers); and geography (Asia-Pacific, Europe, North America, and ROW) and provides market forecast in terms of revenue ($million) for aforesaid segments.

The global automotive lighting market revenue is estimated to reach $25.36 billion by 2018. Major factors responsible for the growth of automotive lighting market include the increasing concern towards road safety, lighting legislations setup by respective governments, and higher efficiency of LED automotive lighting technology. Also, the increasing purchasing power of consumers has given rise to the demand for advanced and sophisticated technologies such advanced front lighting system (AFS) and daylight running lights (DRLs). Increasing vehicle production in the BRIC nations would serve as a potential market for automotive lighting in the coming years. The key concerns in the industry pertain to the high cost of LED lighting technology and the high R&D costs involved in developing such advanced technologies.