About Automotive Lamp
Automotive lamps helps the driver with illumination. They are mounted in different positions in vehicle and plays different role such as front lights provides illumination to the driver and helps pedestrians to detect vehicle. Whereas the tail lights or brake lights indicates that the brakes have been applied. Also, it improves aesthetic look of the vehicle. There are different technologies used in lighting systems such as Halogen, LED and Xenon. Halogen is used most commonly as it is easily available and has low cost. LED and Xenon are the prominent lighting technologies.
Attributes | Details |
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Study Period | 2018-2029 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Europe Vendors will contribute the maximum growth to Global Automotive Lamp market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Draexlmaier Group (Germany), Lear (USA), Lumax Industries (India), Magneti Marelli (Italy), Koninklijke Philips N.V. (Netherlands), Osram (Germany), Valeo S.A. (France), Hella KGaA Hueck & Co. (Germany), Oracle Lighting (United States) and Stanley Electric Co., Ltd. (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Supreme Retroz LLC. (United States) and Magna International Inc. (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Automotive Lamp market by Type (Head, Tail, Stop and Indicators) and Region.
On the basis of geography, the market of Automotive Lamp has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Halogen will boost the Automotive Lamp market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. OEM will boost the Automotive Lamp market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle type, the sub-segment i.e. ICE (Passenger Vehicle, Commercial Vehicle) will boost the Automotive Lamp market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Lighting Systems with Advanced Features
Market Growth Drivers:
Rising demand of luxury vehicles owing to rising disposable income. The improved lifestyle of the consumers and change in preferences have positively impacted the market. In addition to this, the disposable income is leading to increasing demand of premium lighting systems to add the aesthetic value. This is contributing towards the market growth.
Challenges:
Fluctuations in Raw Material Prices
Restraints:
High Costs Associated with LED Lights May Hamper the Market
Opportunities:
Increasing Demand of Automotive Parts in Developing Economies and Technological Enhancements in Lighting Technologies
Market Leaders and their expansionary development strategies
In December 2023, Koito and DENSO formed a strategic alliance to research and develop intelligent lighting systems for autonomous vehicles, focusing on improved communication and obstacle detection.
In November 2023, Koito unveiled its "Dynamic Rear Lamps" that adapt their lighting sequence based on braking intensity and turn signal direction, enhancing communication with other drivers.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.