Friday, May 25, 2018
Home > Financial > In 2016, Global Revenue of Automotive Lighting is nearly 23.9 billion USD Says new Market Research Repot

In 2016, Global Revenue of Automotive Lighting is nearly 23.9 billion USD Says new Market Research Repot

According to the recently published Global Automotive Lighting Market Research Report 2017. In 2016, global revenue of automotive lighting is nearly 23.9 billion USD, and global market is expected to reach 38.1 billion USD by 2022. This is supported by a CAGR of 8.02% during the forecast period 2017-2022. This growth was driven by increased lighting system content per vehicle and a more favorable product mix driven by strong adoption of LED-based front lighting systems.

Download Sample pages: http://globalqyresearch.com/download-sample/191654

Japanese and European companies dominate and supply together over 80% of the market:
Japanese companies: Koito, Stanley and Ichikoh capture about 40% of global market together.
Each key European player (Magneti Marelli, Hella and Valeo) accounts for 10%-14% of global market.

In November 2016, Valeo completed the acquisition of Ichikoh; these two group’s combined shares of the world automotive lighting market add up to 17%, just behind the No.1 player Koito with the global market share about 26%.

On the basis of technology, Halogen dominated the industry in 2016, low purchasing & replacement cost and easy availability are few factors for the adoption of halogen technology. However, excessive heat loss while light radiation has increased awareness for energy efficiency leading to the reduced usage of halogen. LED lighting market accounted for over 17% of the overall share in 2016 and is expected to witness substantial growth over the forecast period. This is largely attributed to red LED applications such as indicators and brake lights.

Would like to place an order or any question, please feel free to contact: jay@globalqyresearch.com or sales@globalqyresearch.com

Leave a Reply

Your email address will not be published. Required fields are marked *