Market Synopsis
As per Market Research Future Report (MRFR), the global automotive light-emitting diode (LED) lighting market is expected to expand at a CAGR of 9% during the forecast period from 2020-2027. According to the estimation, the market could reach a valuation of USD 20 billion by 2027.
The global automotive LED market 2020 is expected to boom due to the cost-effective nature, which boosts the demand and enhances market growth. The high prevalence of automotive LED in interior automotive lighting has been recognized across the globe. In the context of exterior automotive lighting, an extraordinary uptake of the automotive LED has been understood in the premium and high-end vehicle segment. Apart from this, the manufacturers are now making significant investments in progressive technologies, which further stimulates the growth of the automotive LED market.
Moreover, accelerating demand for electric and hybrid vehicles is also elevating the market for automotive LED as automakers are now concentrating on the attractive interiors, which is the USP of their products. Besides, governments of various nations are now offering several incentives for the manufacturing of automotive LED with the intention of promoting energy-saving alternatives.
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Segmentation
The global automotive LED lighting market can be divided into the grounds of adaptive lighting, vehicle types, and position.
On the basis of position, segments covered are interior, side, and rear.
On the basis of vehicle types, the report includes passenger cars, heavy commercial vehicles, and light commercial vehicles.
On the basis of adaptive lighting types, the market has been segmented into front adaptive lighting, rear adaptive lighting, and ambient adaptive lighting. Adaptive headlights record the highest demand in the market because they are used while driving on winding paths during low-light conditions, twilight, or at night. The headlights are designed in a way that they inform the driver of any dangerous situation that may occur on the road while driving.
Regional Analysis
The regional analysis of the automotive LED lighting market is analyzed for regions such as Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
There is a higher probability of North America and Europe together lead the LED lighting market in the context of demand. High focus on energy productivity, rising automobile industry, and escalated sales of lightweight vehicles encourage the market growth of the automotive LED lighting market in these regions. These regions are the potent regions, being updated about the latest technologies such as organic LEDs, which produces homogenous light.
In Europe, automakers such as Jaguar are utilizing automotive LEDs in their independent card, which have innovative applications. The automakers are also seeking to recognize the newer capabilities of the automotive LED, which enhances the market growth. Jaguar introduced an autonomous vehicle which comprises of two virtual eyes, which makes eye contact with pedestrians so that their safety is ensured while crossing the road. These efforts taken by the automakers are boosting the automotive LED lighting market in North America and Europe.
Asia-Pacific is expected to be among the top competitors in the global automotive LED lighting market. The APAC region provides various opportunities to eminent participants. Most of the competitors are based out of India and China. The renowned companies can be seen associating with these countries, which is multiplying the growth of the global automotive LED lighting market. One of the most efficient tactics adopted by the competitors to claim a better position in the market is by making significant investments in the automotive industry, which is rising at a continuous rate.
Key Players
The top market players in the global automotive LED lighting market include Magneti Marelli S.P.A (Italy), Koito Manufacturing Co.Ltd (Japan), Hyundai Group (South Korea), Stanley Electric Co.Ltd (Japan), Zizala Lichtsysteme Gmbh (Austria), Koninklijke Philips N.V. (Netherlands), Mercedes-Benz (Germany), Toyota Motor Corporation (Japan), Tata Motors Limited (India), Toyota Motor Corporation (Japan) among others.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
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Market Research Future (MRFR) in its report on the Global Automotive Light-Emitting Diode (LED) Lighting Market reveals different causes that can influence in the market across the stud period.
Coronavirus Disease Outbreak analysis and lockdown impact on the automotive LED lighting market impact on the market are provided with report.
As per MRFR analysis, the expansion of the automotive LED lighting market can be at about 9% CAGR in the forecast period (2016-2022).
The automotive LED lighting market value can rise at above USD 20 Billion by 2022.The cost-effectiveness of automotive LED is observed as the major booster for the expansion of the automotive LED lighting market in the years to come.
However, in recent times, the COVID-19 outbreak resulting in lockdown can slow down the expansion of the market in the years ahead.
High rate of incorporation of automotive LED lighting solutions in all type of vehicles can contribute largely to the expansion of the market in the years ahead.By adaptive lighting types, the automotive LED lighting market segmented into ambient adaptive lighting, front adaptive lighting, and rear adaptive lighting.
