World Automotive Lighting - Market Opportunities and Forecasts, 2014 - 2020 - Aarkstore.Com

World Automotive Lighting - Market Opportunities and Forecasts, 2014 - 2020

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Published Date: June 2015 | No. of Pages: 110

Summary

Lighting, being a vital component in automotive vehicles, plays an important role in automotive safety. Automotive vehicle consists of variety of lights to increase the visibility in darkness and bad weather conditions. Besides this, these lights also increase the conspicuity of the vehicle. The lighting system comprises of lighting and signaling devices. These lighting equipment are placed at different locations in the vehicle such as front, rear, top and interiors. Lighting provides illumination for the driver, helps other vehicle drivers and pedestrians on the road to detect the vehicle position, direction of movement and size. Further, it also adds aesthetic looks to both interior and exterior parts of the vehicle.

Automotive lighting market is witnessing a steady growth with the growing demand of automotive vehicles. Growing population, increasing automotive production and the rising concerns about vehicle safety triggered by the government regulations are driving the growth of the market. Additionally, the increasing purchasing power is also creating opportunities for the market growth.

Traditionally, halogen, being a low cost and easily available technology, has been the majorly used lighting technology. Xenon and LED are the other prominent lighting technologies. Amongst, all the three technologies, LED would witness the highest growth during the forecast period. Presently, LED lights are installed mostly in high-end vehicles due to their relatively higher cost. However, the on-going research to lower their cost, would create significant demand of these lights.

The automotive lighting market is segmented based on lighting applications, technology, product sale, vehicle types and...