DALLAS, TX -- The report "Automotive Lighting Market by Technology (Halogen, Xenon, & LED), Adaptive Lighting (Front, Rear & Ambient), Position (Front, Rear, Side & Interior), Two-Wheelers (Front, Rear, & Side), by Region & Vehicle Type - Industry Trends & Forecast to 2020" published by MarketsandMarkets, The global Automotive Lighting Market is projected to grow at a CAGR of 7.95% from 2015 to 2020 to reach $29.5 Billion by 2020.
The market report defines and segments the Automotive Lighting Market with an analysis and forecast of the global market size, by volume and value.
Asia-Oceania: fastest-growing market for automotive lighting
The Asia-Oceania region comprises countries such as China, India, Japan, and South-Korea. The Automotive Lighting Market is witnessing rapid growth in this region owing to low manufacturing cost, favorable government policies, and rising production levels. China holds the largest share in the Asia-Oceania Automotive Lighting Market. The overall market for automotive lighting will be driven by the emerging BRIC economies, which collectively accounted for a considerable share of the total market in 2015. The Automotive Lighting Market in the Asia-Oceania region is projected to grow at a CAGR of 8.80% from 2015 to 2020.
Europe: Advanced market for automotive lighting
Western Europe is a matured market for the automotive industry. Additionally, the European automotive industry registered a negative CAGR, owing to the Euro Crisis of 2008. However, the industry began recovering at a fast pace after 2013. Europe has always been at the forefront of implementing automotive norms and regulations. These regulations have prompted automobile manufacturers to develop technologically advanced automotive lighting systems. German auto manufacturers have always been keen on trying new technologies and European customers have been very receptive in adopting these technologies. Technologies such as adaptive lighting and laser lighting were first introduced in the European market.
North America: One of the major markets for automotive lighting
The North American region comprises the U.S., Canada, and Mexico. Mexico is a highly advanced and matured automotive market. However, OEMs are setting up manufacturing facilities in Mexico, owing to cheap labor and low production costs in the country and political instability in Asian countries and Russia. This has increased the vehicle production volume of Mexico, thereby raising the demand for automotive lighting. The penetration of LED technology for automotive lighting is the highest in North America.
The report covers the global Automotive Lighting Market, in terms of volume (million units) and value ($million), across the regions of Asia-Oceania, Europe, North America, and Rest of the World (RoW). It explains the qualitative and quantitative aspects of automotive lighting. The report briefly examines the Automotive Lighting Market on the basis of position, technology type, adaptive lighting by application, and two-wheeler by position from 2015 to 2020.
It also provides an overview of technical factors and other important aspects of the Automotive Lighting Market. It includes a value chain analysis, Porter's Five Forces analysis, a competitive landscape, and company profiles. In addition to this, 10 key players of the automotive lighting industry have been profiled.
Browse 100 market data Tables and 51 Figures spread through 200 Pages and in-depth TOC on "Automotive Lighting Market" at http://www.marketsandmarkets.com/Market-Reports/automotive-lighting-market-1133.html?utm_source=PRnewswires&utm_medium=Referral&utm_campaign=PRnewswire
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