Automotive LED Lighting Market Automotive LED Lighting Market | Page 2

sector accounted for the substantial market share of automotive LED lighting and is estimated to lead the overall
market in the years to come. The market may be categorized based on applications like motorcycle lighting, car
lighting, truck lighting, and others that could be explored in automotive LED lighting in the forecast period.
Globally, Asia Pacific accounted for the significant market share of automotive LED lighting in terms of volume
and is estimated to lead the overall market in the years to come. The reason behind the overall market growth
could economic development in growing countries like India and China, high automobile production, and high
demand for cost-effective automotive LED lights. In addition, the presence of key manufacturers in Japan may
boost overall market growth in this region.
Europe and North America are also estimated to have a positive influence on future growth. Europe is the
second largest region with significant market share. The aspects that may be ascribed to the growth comprise
growing use of technologically enhanced LED lights in luxury cars. However, North America is estimated to grow
at the highest CAGR in the forecast period.
The key players of automotive LED lighting market are Koito Manufacturing Co.Ltd, SG Automotive, Zizala
Lichtsysteme Gmbh, Mercedes Benz, BROS International Co., Limited, Osram Licht AG, Magneti Marelli S.P.A,
Stanley Electric Co.Ltd., Koninklijke Philips N.V., and Pilot Automotive. These players are concentrating on
inorganic growth to sustain themselves amidst fierce competition.
Browse Related Category Market Reports @
https://www.millioninsights.com/industry/automotive-and-parts