On the basis of lighting applications , the market is segmented into rear lighting , front lighting , interior lighting and side lighting . The technology is segmented into LED , halogen and xenon . Based on vehicle type , the market is segmented into commercial vehicles and passenger vehicles . Based on product sale , the market is segmented in aftermarket product and OEM product . The geographical segmentation of automotive lighting include North America ( U . S . , Canada , Mexico ) , Europe ( Germany , UK , France , Italy ) , Asia Pacific ( China , India , Japan ), RoW ( Brazil , Russia ), Latin America and Middle East Africa . The global automotive lighting market is an excessively fragmented market with the presence of many regional and global local vendors . The global automotive lighting market is very dependent on automobile sales and the growth driven by the increase in automotive production . The market has seen constant innovations and development of new products , which in turn resulted in an excessive competitive environment for the manufacturers of the automotive lighting .
The key players of the global automotive lighting market include Ichikoh Industries Ltd ., General Electric ( GE ), Koninklijke Philips N , Koito Manufacturing Co . Ltd , Magneti Marelli S . P . A , Valeo , Stanley Electric Co ., Hella KGaA Hueck & Co ., Ltd ., Zizala Lichtsysteme GmbH , Osram GmbH , Hyundai Mobis , Royal Philips Electronics . The global automotive market is expected to grow at a CAGR 8 % during the forecast period which can result to be profitable for the global automotive lighting market also . Ambient lighting is one application where lighting is strategically placed in the vehicle to create an experience and induce a psychologically pleasing effect . Headlamps , DRL , auxillary lights , off road lights , compact lights , dome lights , instrument display lights , fog lights and taillights are the popular segments in the global automotive lighting market attracting automotive designers with their unique and stylish looks .
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In the upcoming years the use of LED lighting is expected to cover of the total market soon in the upcoming years . Broadly automotive lighting market is segmented as Interior lighting and exterior lighting during the year 2015 , the exterior lighting segment had dominated the global automotive lighting market , with a very high market share . Exterior lighting plays a very important role in ensuring safety and with more manufacturers focusing on the safety aspect demand for exterior lighting is expected to rise in the next seven years .
The growth in the Asia Pacific region is driven by India and China , which are the largest markets for automotive production in the Asia Pacific region . The Asia Pacific region is a hub for automotive components due to improved infrastructure , preferences and changing lifestyles , government initiatives , and overall reduction in vehicle production costs . There is a high growth in the number of vehicles in the BRIC nations which further creates large opportunity for the growth of automotive lighting market during the forecast period . Purchasing power is increasing which in turn is increasing the demand for advanced and sophisticated technologies which include advance front light system ( AFS ) and daylight running lights system ( DRL ). Automotive lighting indicates