Global Passenger Car Lighting Market Overview:
Over the past few decades, the global passenger car traffic has been increased drastically, which has ultimately upsurged the demand for passenger car lighting across the globe. In addition to this, increasing government regulations related to automobile will also increase the demand for smart automobile lighting solutions. The number of passenger car manufacturers have started adopting Adaptive Lighting techniques which will enhance the vehicle appearance and assist in improved business growth of smart automobile lighting systems.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Adoption of High Demand for Adaptive Lighting Techniques and Introduction to Artificially Intelligent Automotive Lighting Sensors
Market Growth Drivers:
Upsurging Demand for Smart Lighting as well as Premium Segment Vehicles and Growing Automotive Lighting Mandates across the Globe
Challenges:
Volatile Raw Material Prices might Increase Supply Demand Complexities and Upsurging Penetration of Local Lighting System Providers
Restraints:
Lack of Adoption of Smart Lighting Systems in Average Priced Passenger Cars and Expensive Nature of LED Lighting Systems
Opportunities:
Increasing Strategic Alliances Between the Automobile Manufacturers and Lighting System Manufacturers and Continuously Evolving Automobile Sector
Competitive Landscape:
Some of the key players profiled in the report are Koito Manufacturing Co. Ltd. (Japan), Valeo S.A. (France), Hella Kgaa Hueck & Co. (Germany), Magneti Marelli S.p.A. (Italy), ZKW Group GmbH (Austria), Lumax Industries Ltd. (India), Varroc (India), TYC GENERA (United States), Changzhou Xingyu Automotive Lighting System Co, Ltd. (China) and Hyundai Mobis (South Korea). Additionally, following companies can also be profiled that are part of our coverage like OSRAM Licht AG (Siemens) (Germany), Continental AG (Germany), Ichikoh Industries, Ltd. (Japan), Stanley Electric Co. Ltd. (Japan) and Robert Bosch GmbH (Germany). Analyst at AMA Research see European Vendors to retain maximum share of Global Passenger Car Lighting market by 2028. Considering Market by Adaptive Lighting, the sub-segment i.e. Front Adaptive Lighting will boost the Passenger Car Lighting market.
Latest Market Insights:
In April 2019, the Board of Directors of LG Electronics (LG) approved the acquired leading automotive lighting and headlight systems provider ZKW Group, capping a deal worth more than EUR 1.1 billion, LG's largest acquisition to date. Under the terms of the transaction, LG Electronics will acquire a 70 percent stake in ZKW Group with parent company LG Corp. purchasing the remaining 30 percent
January 10th, 2019, Valeo and Cree, Inc.have jointly developed the first complete high definition (HD) LED array solution for automotive lighting systems. Valeo has demonstrated this innovation of Valeo PictureBeam Monolithic at the CES 2019 show. Valeo PictureBeam Monolithic is the first complete high definition lighting system that provides both glare-free and high beam road marking functions together with high-performance low beam and high beam in a single compact solution.
What Can be Explored with the Passenger Car Lighting Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Passenger Car Lighting Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Passenger Car Lighting
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Passenger Car Lighting market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Passenger Car Lighting market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Passenger Car Lighting Manufacturers, Passenger Car Lighting DIstributors and Suppliers, Passenger Car Lighting International Traders, Automobile Industry Associations, Research and Development Institutes, Government Regulators, Upstream and Downstream Buyers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.