Booming Automobile Industry Offering Great Growth Opportunities to Global Automotive Lighting Market
Published On : Jan 12, 2015
Automotive lighting is as important part of automobile designing as its engine design. It plays not just a cosmetic role, but also a functional one. Aesthetically, automotive lighting are seen as the eyes of the car, but functionally automotive lighting is the only chance of a driver to see what lies ahead of the road. In the history of advanced automotive lighting can be traced back to a time when fueled lamps were used by carriage drivers to wade through the darkness. The earliest example of automotive lighting can be seen in Ford Model T which used oil lamps for tail lamps and carbide lamps for headlamps. Over the years, the automotive lighting segment witnessed a great revolution with dynamos for automobile headlines in 1908, while the brake lamps and tail lamps came about in 1915. Ever since 1993 when LED lamps were first used for tail lamps there was no looking back to the fast-paced growth of global automotive lighting market, both in terms of innovative technology and design, and usage.
The main function of automotive lighting is to provide adequate illumination. The lighting system of an automobile is integrated in various ways for signaling purposes, front lighting, back lighting, side and top parts of a vehicle, to indicate, position, determine the direction of travel, and speed of the vehicle. The other components of automobile lighting include headlights, taillights, interior light, off road lights, fog lights, key lights, off road lights, auxiliary lights, instrument display light, and other light accessories. All of these lights are used for the purpose of making the drive safe in tough terrains, during foggy weather conditions, in rains, to warn other drivers on the street, in the dark, and to enhance visibility.
Market Segmentation of Global Automotive Lighting Market
The global automotive lighting market has been segmented on the basis of types, application, products, technology, and geography. On the basis of geography, the global automotive lighting market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW).
Future of Global Automotive Lighting Market
Some of the key growth drivers for global automotive lighting market is the permanent concern about road safety, usage of efficient LED automotive lighting technology, and the regulatory framework of the government with regards to the automobile lighting conventions. The reasons adding to the growing global automotive lighting market is the increasing purchasing power of consumers who can now afford advance front lighting systems (AFS) and daylight running lights (DRLs). Additionally, as the number of car buyers in BRIC nations is rising at an extremely fast pace, it is offering a great opportunity to the global automotive lighting market to grow seamlessly in the next few years.
Most of the automobile manufacturers are looking at ways of minimizing the the energy consumption by using adaptive lighting technologies and LED lighting. LED lighting methods are also being preferred by consumers are these lights are easily available, are cheaper than other options, they are easy to maintain, and can be conveniently replaced in case of damage. The three important technologies used in automotive lighting are LED, halogen, and xenon. Out of these, halogen happens to be the most dominant segment.
Geographically, Asia Pacific happens to be the biggest automotive lighting market across the globe. With countries such as Japan, South Korea, China, and India that are the new emerging economies which are offering a great opportunity to the automobile industry and thus to automotive lighting market as well. Some of the key players in the global automotive lighting market are General Electric (GE), Hyundai Mobis, Hella Kgaa Hueck & Co., Ichikoh Industries Ltd, Stanley Electric Co. Ltd, Koito Manufacturing Co., Ltd., Magneti Marelli S.P.A, Osram GMBH, Royal Philips Electronics, Valeo S.A and Zizala Lichtsysteme GMBH (ZKW). The financial outlooks of these companies, their research and development activities, and their innovative ideas will decide the future of the global automotive lighting market.
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