Automotive Lighting Market by Technology (Halogen, Xenon/HID, & LED) Worth $25.36 Billion By 2018 - New Report by MarketsandMarkets
(PRWEB) March 14, 2014 -- The report "Automotive Lighting Market: By Position (Front, Rear, Side, & Interior), Technology (Halogen, Xenon/HID, & LED), Vehicle Type, & Geography – Global Trends & Forecast To 2018", defines and segments the automotive lighting market with analysis and forecasting of the global revenue. Global automotive lighting market is expected to grow from $19.47 billion in 2013 to $25.36 billion by 2018, with a CAGR of 5.43%. In this, halogen technology is expected to occupy the major share, when compared to xenon/HID and LED for the next five years.
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Asia-Pacific: The largest market for automotive lighting
Asia-Pacific has been the largest automotive lighting market since 2011 followed by Europe, North America, and ROW. The major automotive lighting markets in the Asia-Pacific regions are China, Japan, South Korea, and India. The automotive lighting market revenue in these countries is high mainly due to the high vehicle production levels, increasing economic development, rising population, and changing consumer life style. The revenue trend is estimated to change by 2018, where North America would be capturing Europes position mainly due to its increasing light commercial vehicles production.
Front lighting: Biggest lighting segment by position
Considering automotive lighting market revenue by positions (front, rear, side, and interior), front lighting is estimated to constitute the largest revenue share as of year 2013 and is expected to remain the largest segment by 2018 as well. Rear, interior, and Side lighting segments follow front lighting segment in terms of revenue in the year 2013.
Passenger cars leading the automotive lighting market
Due to increasing population, improved life style, and transportation requirements have increased the demand for passenger cars in the past few years. Increased cost of living, lower manufacturing costs, cheap labor, and greater benefits offered for vehicle manufacturers in developing regions; have increased this demand for passenger cars on a large scale. Majority of the vehicle manufacturers and thereby OEM providers are shifting their focus towards developing regions. This would help the automotive lighting market to grow in developing countries. On the other side, the demand for light or heavy commercial vehicles is limited and hence, the automotive lighting market in these vehicle segments would grow at slower rate.
Halogen technology: largely employed across all vehicle segments
Halogen is the most widely used lighting technology in vehicles and has been into use since many years mainly due to its easy availability, low purchasing cost, and low replacement costs. In 2013, halogen is estimated to have the largest share of the global automotive lighting market revenue followed by xenon and LED.
The report covers global automotive lighting market in terms of revenue ($million) across regions such as Asia-Pacific, Europe, North America, and Rest of the World (ROW). It explains qualitative and qualitative aspect of automotive lighting units such as front, rear, side, and interior. The report briefly explains the automotive lighting market by geography and vehicle types. It also explains the trend of revenue from 2011 to 2018. The scope of the report includes analysis, estimations, and forecast automotive lighting market revenue based on its position, technology, vehicle type, and geography.
The report also touches on various other important aspects of automotive lighting market. In includes an analysis of the value chain, Porters five forces analysis, and the competitive landscape. In addition to this, 20 key players in the market have also been profiled.
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