Stringent Lighting & Light Signaling Laws Spur Growth in the Vehicular Lighting Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) February 25, 2015 -- Follow us on LinkedIn – Motor vehicle safety technologies have evolved massively over the last couple of decades, driven partially by government mandates and OEM focus on automotive safety features as a means for brand differentiation in the marketplace. Safety technologies provide the perfect platform for creating real functional differentiation between vehicle models. Lighting represents the most basic safety requirement in automobiles. Clear visibility of the driving area is a critical need for night travels. The importance of driver visibility cannot be undermined, given the fact that compromised and poor visibility is widely acknowledged as a prime cause for vehicle accidents across the globe. Poor visibility especially during harsh weather conditions such as rain, dew, and snow is often cited as the prime cause for accidents, especially winter driving accidents.
Vehicular lighting technologies, such as, High-intensity discharge (HID) headlights, light-emitting diode (LED), Xenon lamps and adaptive head lights (AHL) have long been researched and developed for their ability in increasing the visibility factor. Over the years, motor vehicle manufacturers have developed high-performance lighting modules that emit uniform light beams, ensuring proper visibility. High Intensity discharge beams, electronically controlled-swiveling front lighting systems and non-blurring intelligent headlamps have marked the dawn of ‘electronic eyes’ for vehicles on road. Sales of headlamps will continue to benefit from the growing production of automobiles in developing countries. Growth in the aftermarket is driven by strong replacement needs. Damages to lighting systems caused by accidental vehicle collisions account for a large chunk of replacement orders in the aftermarket segment. Replacement of exterior lighting components in particular is a major contributor to growth.
As stated by the new market research report on Vehicular Lighting, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 7.0% over the analysis period. The region’s dominance is supported by the large automotive production base. China ranks as one of the world’s largest producer of passenger cars and commercial vehicles. As economic growth in the BRIC countries begins to slow down, emerging non-BRIC countries grouped under multiple acronyms such as CIVETS, MIST, Next 11, and MINT will help supplement long-term growth in the market.
Major players in the global marketplace include Advanced Lighting Technologies Inc., Biketronics Inc., Custom Dynamics®, LLC, Custom LED LLC, Federal-Mogul Corporation, Flextronics International, Hella KGaA Hueck & Co., Changchun Hella Automotive Lighting Co., Ltd., Ichikoh Industries Ltd., Kisan Electronics, Koito Manufacturing Company Ltd., North American Lighting Inc., Koito Europe Ltd., Shanghai Koito Automotive Lamp Co. Ltd., Koninklijke Philips Electronics NV, Philips Lighting B.V., Lumax Industries Limited, Magneti Marelli S.P.A, Automotive Lighting Reutlingen GmbH, NEOLITE ZKW Lighting Pvt. Ltd., Odelo GmbH, OSRAM AG, PIAA Corporation, Robert Bosch GmbH, Stanley Electric Co., Ltd., Valeo SA, Whelen Engineering Inc., and Zizala Lichtsysteme GmbH, among others.
The research report titled “Vehicular Lighting: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for global Vehicular Lighting market in thousand units for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Key product segments analyzed include Automotive Lamps (Headlamps, Tail Lamps/Brake Lamps, Signaling/Flasher Lamps, Fog Lamps and Other Automotive Lamps) and Motorcycle Lamps (Headlamps, Tail Lamps, and Flasher Lamps).
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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