In automotive lighting, LEDs still fail to enlight the masses, study says
The global automotive lighting market is expected to grow from $19.47 billion in 2013 to $25.36 billion by 2018, with a CAGR of 5.43%, US-based market research company Marketsandmarkets reckons. In this context, halogen technology is expected to occupy the major share for the next five years; Xenon/HID follows on the second rank. While LEDs are catching up, they will fail to displace halogen and Xenon from the leading positions.
The report "Automotive Lighting Market: By Position (Front, Rear, Side, & Interior), Technology (Halogen, Xenon/HID, & LED), Vehicle Type, & Geography – Global Trends & Forecast To 2018", defines and segments the market with analysis and forecasting of the global revenue. It does not come as a big surprise that the major automotive lighting market is Asia-Pacific followed by Europe and North America. Within the APAC region, China ranks first (it is already the largest market for cars and passed North America about a year ago). Japan, South Korea and India claim the next highest shares in the APAC market. Within the five years ahead, North America will pass Europe, driven mainly by its increasing light commercial vehicles production.
Considering automotive lighting market revenue by positions (front, rear, side, and interior), front lighting is estimated to constitute the largest revenue share as of year 2013 and is expected to remain the largest segment by 2018 as well. Rear, interior, and Side lighting segments follow front lighting segment in terms of revenue in the year 2013.
Halogen is the most widely used lighting technology in vehicles and has been into use since many years mainly due to its easy availability, low purchasing cost, and low replacement costs. In 2013, halogen is estimated to have the largest share of the global automotive lighting market revenue followed by xenon and LED.
The report covers global automotive lighting market in terms of revenue ($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 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.
For further information visit https://www.marketsandmarkets.com
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