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Global automotive LED lighting market to grow 18.43% CAGR till 2020

Global automotive LED lighting market to grow 18.43% CAGR till 2020

May 30, 2016:  The automotive LED lighting technology has improved significantly in terms of heat-light ratio. Reduced power consumption, high shock resistance, and longer lifespans are some of the benefits of LED lights.

These features have helped manufacturers develop lighting as per customer requirements to ensure safety, and add aesthetic and functional value to the vehicle. Decreasing prices of raw materials, exponential growth in vehicle production worldwide, and the need to enhance energy efficiency are boosting the global automotive LED lighting market.

Global automotive LED lighting market to grow 18.43% CAGR till 2020

The report covers the present scenario and the growth prospects of the global automotive LED lighting market for 2016-2020. To calculate the market size, the report considers revenue generated from the total production of automotive of LED lights.

READ ALSO: Global automotive LED lighting market to grow significantly by 2020

The market is divided into the following segments based on geography:
– APAC
– Americas
– EMEA

Technavio’s report, Global Automotive LED Lighting Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
– Hella
– KOITO
– Magneti Marelli
– Valeo

READ ALSO: New LED technology to enhance automotive applications appeal

Other prominent vendors
– Depo Auto Parts
– Epistar
– ICHIKOH
– NEOLITE
– OSRAM
– Samsung LED
– Seoul Semiconductor
– SL
– Ta Yih Industrial
– Toyoda Gosei

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