Competition is expected to be stiff within the Global Automotive Lighting Market, as per new research report on this Market by transparency market research TMR. There are several companies present in the market making it fragmented. Each player in the market is trying to game consumers and market share by implementing advanced technology and bringing about innovation.
Players within the market are competing with each other on the basis of product differentiation and cost. Names of the leading players operating within the Global Automotive Lighting Market are ICHIKOH INDUSTRIES LTD, Hella KGaA Hueck & Co, General Electric Co., Magneti Marelli S.p.A, Hyundai Mobis, Royal Phillips Electronics, SAMSUNG ELECTRONICS Co., Ltd, Zizala Lichtsysteme GmbH, Koito Manufacturing Co., LTD, OSRAM Licht Group, and VALEO
PDF Brochure For Future Advancements:
According to TMR, the global automotive lighting market is likely to reach US$46,372.7 mn by the end of 2025, rising from US$28,250.5 mn in 2016, showcasing a healthy CAGR of 5.7% between 2017 and 2025. On the basis of geography, 46% of the total market was accounted for, by Asia-Pacific in 2016. In terms of demand, the front lighting segment is leading.
According to the report, the global market for automotive lighting is witnessing a growth on account of the expanding automotive sector. In order for a vehicle to drive along the roads during dark, lighting is crucial and this will create a continuous demand for automotive lighting. Apart from improving the visibility in darkness, Automotive bad weather conditions. moreover Automotive lighting mix the vehicle more evident on the road by other vehicles in which helps in preventing accidents.
There is a growing demand for energy efficient lighting today. Consumers are also demanding cost-effective Lighting systems. Therefore, market players are investing in research and development so as to offer customers the solutions. The market is also benefiting from the green disposable income of the people which is leading them to purchase vehicles. In addition to this favorable government policies are also eating the growth of the Global Automotive Lighting Market. The growing demand for improved Road elimination and increasing focus on vehicle safety are the factors helping the market to grow.