According to Technavio, the global automotive lighting market is classified as part of the global automotive components and accessories market.. A fragmented market exists in the global automotive lighting market, with several global and regional vendors vying for market share. It is notable that there are a few prominent vendors who offer automotive lighting on the market, including FLEX N GATE Corp., General Electric Co.., Hyundai Motor Group, Koito Manufacturing Co., Ltd.. Its major competitors include Koninklijke Philips NV, Lumax Industries Ltd..As well as Marelli Holdings Co Ltd and Namyung Lighting Co Ltd.. Samsung Electronics Co., Ltd., NXP Semiconductors NV, and Panasonic Electronics Co., Ltd.. Limited (Ltd.)., Seoul Semiconductor Co., Ltd.. Limited (Ltd).The Stanley Electric Company, Inc.. The Limited.As well as Stellantis NV and Suprajit Engineering Ltd..Among these companies are Varroc Engineering Ltd, OSRAM GmbH, Robert Bosch GmbH, Valeo SA, Continental AG, and LG Corp.. As well as others. Currently, the global automotive lighting market is experiencing rapid growth due to a number of factors. This implies that the market in focus has a number of characteristics that are characterized by an increasing demand for effective interior lighting, an increase in the penetration of LED lighting, and stringent regulations on road safety..As the name implies, the global market for automotive components and accessories covers companies that manufacture parts and accessories for automobiles, such as passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers.. According to estimates, the global automotive lighting market size is expected to grow by USD 14,415 by 2025.The number of people in the country is 24 millions. It is estimated that the market will grow at a CAGR of 9% over the next five years.79%
79%
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This report provides an overview of the global automotive lighting market based on the customer landscape in order to help businesses evaluate and develop growth strategies.
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Market segmentation assessment for the automotive lighting marketTechnavio has segmented the market according to the type (passenger cars and commercial vehicles), the end-user (OEMs and aftermarket), and the region (APAC, Europe, North America, South America, and Middle East and Africa).
Basically, the automotive lighting market is segmented based on geography into Asia Pacific, Europe, North America, South America, as well as the Middle East and Africa. In addition to providing actionable insights, the report also estimates how each region contributes to the growth of the global automotive lighting market.
Global automotive lighting market - Market dynamicsLeading drivers - LED lighting penetration is a major driving force for the growth of the global automotive lighting market and which is notably driving it upwards. There have been technological advancements that have led to the development of features like glare-free adaptive driving beams (ADB) which are enhancing the performance of LED lighting systems in the automotive industry. As a result of these features, drivers are able to identify and locate other roads more easily, especially at night. As a result of such advancements in headlamp-related LED lighting technology, LED lighting technology has significantly contributed to the development of LED lighting technology in the luxury automotive market as well. Taking into account the rising adoption of LED technology in mid-range and luxury vehicles, it is anticipated that vendors will experience significant growth in the near future
Taking into account the rising adoption of LED technology in mid-range and luxury vehicles, it is anticipated that vendors will experience significant growth in the near future
The development of autonomous vehicles is one of the major trends in the automotive lighting market in the near future. There has been an increase in the adoption of semi-autonomous features in passenger and commercial cars as a result of various advertising campaigns and promotions. Self-driving cars may become a reality by the end of the forecast period, and in ten years, it is anticipated that a significant number of these vehicles will be on the road.. In addition, automakers can only demonstrate vehicle distinctiveness by including unique features in their vehicles.  The increase in electronic content per vehicle has resulted in an increase in the requirements for interior lighting as a result
 The increase in electronic content per vehicle has resulted in an increase in the requirements for interior lighting as a result
The automotive lighting market is facing a number of challenges related to stringent regulations governing automotive lighting technologies, which hinders its growth. There has been a worldwide phasing out of incandescent light bulbs and halogen lighting in order to increase energy efficiency all around the world.. It is important to note that even automotive LED lamp producers are subject to legal and government regulations. In order to operate legally, companies must comply with laws governing business, antitrust, patents, consumer rights, taxes, foreign exchange, environmental protection, recycling, and safety laws. It should be noted that most nations either adhere to the SAE standards or have their own federal laws that regulate the automotive lighting industry as a whole. There is a possibility that changes in these restrictions may negatively impact the financial state of the companies and their market performance as a result of these changes
There is a possibility that changes in these restrictions may negatively impact the financial state of the companies and their market performance as a result of these changes
Specifically, what are the key data points covered in this market report on automotive lighting?
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The USTechnavio Group is one of the world's leading technology research and advisory companies. The company's research and analysis focuses on emerging market trends and gives actionable insights for businesses to identify market opportunities and develop effective strategies to optimize their position on the market by staying ahead of the competition. Our report library is comprised of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries, carried by over 500 specialized analysts at Technavio.. As a result, they have a wide range of clients from businesses of all sizes, including more than 100 Fortune 500 companies.. In order to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios, Technavio's growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights.
In order to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios, Technavio's growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights.
You can reach Technavio Research via the following methods:Jesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com
Technavio is the source of this information
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