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Automotive LED lighting market to grow at CAGR 9% till 2022

Automotive LED lighting market to grow at CAGR 9% till 2022

May 5, 2017: The growing adoption of environment hazard free vehicles and efficient power utilization system is driving the automotive LED lighting market. The North America, Europe and Asia-Pacific is estimated to be one of the leading region in this automotive LED lighting technology.

This is mainly because of the increasing focus of the market players in dwelling the demands of cost effective, low power consumption, efficient lighting system and less CO2 emission from vehicles is driving the market. Also the leading players is expected to develop advanced LED lamps and technologies in shaping the global market.

The Automotive LED Lighting Market is growing rapidly at approx. 9% CAGR and is expected to reach approximately USD 20 Billion by the end of forecast period.

Key players

• Osram Licht AG (Germany)
• Magneti Marelli S.P.A (Italy)
• Koito Manufacturing Co.Ltd (Japan)
• Stanley Electric Co.Ltd (Japan)
• Mercedes-Benz (Germany)
• Koninklijke Philips N.V. (Netherlands)
• Hyundai Group (South Korea)
• Toyota Motor Corporation (Japan)
• Tata Motors Limited (India)
• Zizala Lichtsysteme Gmbh (Austria)

Automotive LED lighting market segmentation

The automotive LED lighting market has been segmented on the basis of type of position, vehicle type and adaptive lighting. On basis of adaptive lighting the market is segmented into of front adaptive lighting, rear adaptive lighting and ambient adaptive lighting. The front adaptive lighting technology implementation is seen first on Audi top of the line A8 model. Improving night-time visibility with adaptive front-lighting systems and improving automotive lighting.

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