Lighting is one of the most vital components in automobiles. The lighting system of a car consists of lighting and signaling devices typically integrated or mounted to the front, rear, sides, and in some cases on the top of the vehicle. The market for automotive lighting offers a wide variety of lights to provide safety by ensuring visibility for the driver in darkness and bad weather conditions. It also adds aesthetic value to the interior and exterior parts of the vehicle.
In recent times, awareness regarding the automobile safety and security has increased among the populace. Many stringent automotive lighting regulations and government legislations have encouraged consumers to use smart and efficient automotive lamps. The use of standard automotive lamps/bulbs that consume high amounts of energy has considerably reduced in the recent past. Automotive lighting system manufacturers around the world are now focusing on the development of advanced lighting technologies that consume less energy and are thus highly efficient in nature.
New and advanced technologies such as LED, advanced front lighting system (AFS), and active intelligent lighting system (AILS) have certainly brought tremendous transition in the global market for automotive lighting. As per a research study led by Transparency Market Research, the market for automotive lighting is expected to reach US$34.17 billion by 2021, growing at a CAGR of 8.1% in the forecast period 2015-2021.
LED lighting is the natural choice for automakers
The demand for LED automotive lighting technology is increasing in several applications due to its low consumption of energy, robustness, cost-effectiveness, and longevity. Although the HID/Xenon and LED lamps are comparatively expensive, they are more efficient as compared to halogen lamps.
Browse Market Research Report of Automotive Lighting System Market:
Over the forecast period 2015-2021, the preference for LED lighting among the consumers is expected to grow rapidly. With the rise in disposable incomes, consumers will begin to shift from halogen technology to LED and HID/Xenon technology in the next six years, particularly in the residential sector.
LED lighting systems are not only advantageous for residential and commercial lighting, but also for automotive lighting. Auto manufacturers are increasingly using LED lighting for both interior and exterior use. LED lighting is now being widely adopted in luxury vehicles and other mainstream vehicles. The technology has been adopted in automobiles to the point where it offers all the essential benefits automakers demand from lighting systems in vehicles. Ranging from design freedom, styling, high power levels, low power consumption, long lifetime, and fast warm-up to a wider color spectrum, LED lighting is the most preferred lighting solution today and has marched ahead of incandescent lighting in the automotive industry fair and square.
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Europe is the most active region for the automotive lighting market
While major regions such as North America, particularly the U.S., still wait for changes to affect its conventional headlight regulations, the legal regulations for lights and headlamps in Europe have transformed long ago. Besides front headlamps, stop or brake lights, front fog lamps, and side lights/indicator lights, daytime running lights have also become mandatory in Europe. Owing to these factors, Europe held the largest share in the automotive lighting system market in 2014.