Market Revenue Automotive Lighting Industry Manufacturing Expense

Automotive Lighting Industry Manufacturing Expenses, Raw
Materials, Traders List From 2012-2022
“Automotive Lighting Market size was valued at USD 19.64 billion in 2014 and
is anticipated to reach USD 34.65 billion by 2022. Global automotive market
will witness a steady growth with growing demand of automotive vehicle in
the upcoming years.”
The global Automotive Lighting Market size was valued at USD 19.64 billion in 2014 and is anticipated to reach
USD 34.65 billion by 2022. Global automotive market will witness a steady growth with growing demand of
automotive vehicle in the upcoming years. Increasing automotive production, rising concerns about vehicle
safety, growing population and also government are driving the growth of the market. On addition to it, the
increase in the purchasing power of the people is also creating opportunities for the market growth. Lighting is
a vital component in automotive vehicles and plays a very important role in automotive safety. Automotive
vehicle consists of variety of lights to increase the visibility in darkness and bad weather conditions and
automotive lights also increase the conspicuity (that is the clarity of observing things) of the vehicle. The lighting
system comprises of signalling and lighting devices. The lighting devices are placed in different locations of the
vehicle including front, rear, top and interiors.
Halogen being an easily available and cost efficient technology has been majorly adopted by the market and is
therefore, being used in lighting technology in the automotive sector also LED and Xenon are prominent lighting
technologies which are in prime use in the global automotive lighting market. LED is likely to witness the highest
growth amongst the three technologies during the forecast period. LED is relatively costlier, hence, at present
is majorly being used in the high-end vehicles. However, research is being done to lower their cost as a result of
which it would create significant rise in demand of LED lights in the upcoming years. The automotive lighting
market is segmented based on technology, vehicle types, lighting applications, product sale and geography.
Request Sample Copy of this Market Research @
https://www.millioninsights.com/industry-reports/automotive-lighting-market-size/request-sample