Global Automotive
Lighting System: Snapshot
Of late, there has been an increasing awareness among people about
the availability and significance of automotive lighting systems.
Additionally, shift in focus of automotive lighting manufacturers
from inefficient, obsolete lamps to highly efficient, smart, and
energy-saving lighting systems is expected to boost the global
automotive lighting system market.
The report presents a detailed analysis of the trends, opportunities,
drivers, and restraints prevailing in the global automotive lighting
system market. Both bottom-up and top-down approaches have been
adopted in order to analyze the market for automotive lighting
systems across the geographical segments.
Browse The Report:
http://www.transparencymarketresearch.com/automotive-lighting-market.html
Expansion of
Automotive Industry to Ensure Increased Demand
Automotive lighting systems are a crucial part of automobile
production. The expansion of the automobile industry is boosting the
growth of the global automotive lighting system market. The market
will gain significant momentum due to the emergence of newer and
advanced lighting technologies such as HID, Halogen, and LED. These
lighting technologies have larger life spans and consume lesser
energy when compared with conventional lighting systems. As a result,
automobile manufacturers have been increasingly deploying these
lighting systems. Therefore, the global automotive lighting system
market will prosper to a great extent.
The increasing purchasing power of the people worldwide, especially
in emerging economies in particular, is another key growth driver of
the market. Furthermore, the prices of vehicles are likely to go up
as advanced lighting technologies are increasingly deployed. The rise
in the revenue of automobile industry will be reflected in that of
global automotive lighting system market.
High initial investment required for research and development
activities might surface as a major bottleneck for the market. The
development of advanced lighting systems necessitates state of the
art manufacturing equipment and facilities, which are extremely
high-priced. Moreover, the high cost of these systems might affect
growth owing to the presence of a large number of price conscious
consumers in Asia Pacific. Nevertheless, the negative impact of these
restraints is likely to be nullified by the shift in preference among
consumers from conventional lamps to advanced lighting systems such
as Halogen, LED, and HID lamps.
Asia Pacific
Promises Substantial Growth
Based on geography, the global automotive lighting system market is
segmented into Asia Pacific, North America, Europe, and Rest of the
World (RoW). Europe appears to be the leading market, closely
followed by North America. Constant research activities and the
consequent development of automotive lighting systems have been
responsible for the growth of the automotive lighting system market
in North America. The emerging economies such as China and India are
likely to exhibit substantial growth as the per capita income of the
middle class rises by degrees. The vast population base, growing
penetration of technology, and booming automotive industries of these
nations are driving the growth in these regions.
Japan, being one of the largest exporters of automotive lighting
components, is slated to emerge as one of the most prominent markets.
Cheap labor, lower costs of raw materials, and increased production
of automobiles have been the factors aiding the expansion of the
automotive lighting system market in India and China.
Among the countries included under the Rest of the World segment, the
UAE appears to be the leading segment. As the prices of fuel are low
in this region, the demand for automobiles has increased. The
presence of the affluent class in this region is also expected to
fuel growth. The automotive lighting system market in the UAE is
projected to expand at a favorable 2.6% during the forecast period.
Some of the major companies operating in the global automotive
lighting system market are Magneti Marelli S.p.A., Hyundai Mobis,
Hella KGaA Hueck & Co., general Electric, Osram Licht AG,
Koninklijke Philips N.V., Valeo S.A., and Stanley Electrics Co. Ltd.
About Us
Transparency Market Research (TMR) is a next-generation provider of
syndicated research, customized research, and consulting services.
TMR’s global and regional market intelligence coverage includes
industries such as pharmaceutical, chemicals and materials,
technology and media, food and beverages, and consumer goods, among
others. Each TMR research report provides clients with a 360-degree
view of the market with statistical forecasts, competitive landscape,
detailed segmentation, key trends, and strategic recommendations
U.S. Office
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: www.transparencymarketresearch.com
No comments:
Post a Comment