Automotive LED Light Market: Sales of Automotive LED Lights in OEM will Register a Comparatively Faster Expansion than that in the Aftermarket
June 20, 2019 by Steve Blade
Fact.MR, in its new research report, projects the global market for automotive LED lights to exhibit an impressive expansion over the forecast period 2017-2022. Revenues from the global automotive LED light market are expected to exceed US$ 6,000 Mn by the end of 2022. Considering the wide scope of global automotive LED light market, Fact.MR’s report offers a segmentwise analysis and forecast. The global automotive LED light market is categorized into – application, sales channel, and region. In this section, the report renders an in-depth country-wise forecast on each parameter pertaining to automotive LED lights.
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Table of Content
1. Global Automotive LED Light Market - Executive Summary
2. Global Automotive LED Light Market Overview
3. Global Automotive LED Light Market Analysis and Forecast By Application
To be Continue....
Browse Full report with TOC:
Factors propelling growth of the market include stringent policies and regulations imposed by the governments regarding utilization of halogen and xenon lights, rising emphasis on energy efficiency, surging sales of lightweight vehicles, and expansion of the automotive industry. In contrast, high prices of LED lights will continue to be a major restraining factor for growth of the market. High cost of LED lights currently affects their sales in the aftermarket, particularly across the developing countries such as South Africa, India, and China.
Automotive LED Light Market: Vehicle Headlamps to Remain the Leading Application
Automotive LED lights are expected to find the largest application in headlamps of vehicles, with sales poised to exceed US$ 1,000 Mn in revenues by 2022-end. Brake lights are expected to be the second most lucrative application in the automotive LED light market. In addition, automotive LED light sales for application in brake lights and sidelights are projected to register a parallel expansion at 8.7% CAGR through 2022.
Key players listed in the Fact.MR’s automotive LED light market report include OSRAM Licht AG, HELLA KGaA Hueck & Co., Koito Manufacturing Co., Ltd., Stanley Electric Co., Ltd., Koninklijke Philips N.V., Valeo SA, Imasen Electric Industrial Co., Ltd., Texas Instruments, Nichia Corporation, and General Electric Company.
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