Scope of the Report
The report titled “Global Automotive LED Lighting Market: Trends and Opportunities (2014-2019)” provides an insight into the Automotive LED lighting market. The report assesses the market sizing and growth of the Global LED Automotive Lighting Market, the growth of various segments, segmentation on various parameters and regional analysis of automotive lighting market. The report also discusses key factors driving growth of the industry, major trends and challenges faced by automotive lighting companies in the world. Further, key players like Koito Manufacturing Co. Ltd, HELLA, Stanley Electric and Magneti Marelli are analyzed in the report.
- Tail lights
- Brake Lights
- Daytime Running Lights
- Asia Pacific
- Korea and Taiwan
- Rest of the World
- Koito Manufacturing Co. Ltd
- Stanley Electric
- Magneti Marelli
With growing environmental concerns and rising fuel prices, automobile manufacturers have adopted the new technology of LED and adaptive lighting technologies. LED lights are more desirable as they enhance the fuel efficiency and decrease energy consumption.
Asia Pacific is emerging as the fastest growing region for LED Automotive Lighting with China showing tremendous potential. Taiwan, Japan and Korea are few other regions which offer great opportunity for the growth of LED automotive lighting market. Currently LED headlamps represent a very small fraction of the total LED Automotive Lighting, but holds immense business potential driven mostly by increasing adaptability of LED lamps in passenger cars.
In many developing countries of BRIC, the automobile industry is growing at a faster pace due to the increase in purchasing power and rising demand of stylish as well as affordable cars. Rising concern towards road safety, strict automotive regulations and lower energy consumption in LED technology are few of the reasons leading to faster growth of Automotive LED lighting industry. Also, increasing vehicle production, mainly in the BRICS countries, have boosted the consumption of the lighting equipment.
However, with immense growth opportunities, the Automotive LED lighting industry faces the challenges in terms of high price of LED lamps, high research and development costs, lower automobile demand which also leads to high bargaining power of the consumer. Apart from this, rising concern of new substitutes are a few of the bottlenecks in the growth of the industry.