Automotive Lighting Market - Global Industry Analysis, Trends and Forecast 2014 – 2020

Automotive lighting includes lighting and signaling devices fitted to the sides, rear, front and interiors of the vehicle. The use of automotive lighting is on rise owing to its functionalities such as visibility, safety for the driver during cloudy, dark and bad weather conditions. Automotive lighting helps in the intimation of vehicle position, direction of travel and size to pedestrians and other drivers. At present, there has been an increased awareness among the people related to safety of vehicle. Low energy consumption of LEDs, high purchasing power of the consumers and strict automotive regulations has increased the importance of automotive lighting across the globe. In addition, increasing vehicle population in BRIC countries, have boosted the growth of automotive lighting market.

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Automotive lighting market is dependent on demand in automotive industry. In recent years, it has been observed that the automotive industry is expected to grow at a promising rate; hence, the automotive lighting market is expected to grow significantly in terms of value and volume. Automotive lighting enhances the look of vehicle, exteriors as well as interiors. Development of LED lighting technology helps automobile manufacturers in minimizing the energy consumption.

The key factors driving the market for automotive lighting include strict government regulations, low energy consumption in LED lighting systems, high purchasing power of the consumers and enhancing demand for advanced technologies. However, high costs involved in research and developments (R&D) and high costs of LED lighting systems are the factors restraining the market growth. Furthermore, increasing production of automotives in BRIC nations shows great opportunities for this market.

The global market for automotive lighting is segmented on the basis of position, vehicle type, technology and...