Asia-Pacific Automotive LED Lighting Market
The Asia-Pacific
Automotive LED Lighting Market is one of the most dynamic segments
in the global automotive industry, propelled by rapid technological
advancements and increasing vehicle production. Countries like China and Japan
are leading the way in the adoption of LED lighting due to their efficiency and
aesthetic appeal. As consumer demand for enhanced vehicle features grows,
manufacturers are focusing on developing innovative LED solutions that
integrate smart technologies and customizable options.
LED light, a semiconductor, emits light energy
when it is activated. Compared to halogen or xenon light, LED lights are more
durable, power-saving, and efficient. LED lights offer a range of advantages
compared to other lights, such as less CO2 emissions and long-lasting life.
Automotive LED lights are an integral part of modern automobiles. The electric
voltage supplied to the p&n junction of an LED through leads brings
electrons together, resulting in the release of light of energy.
According to Market Research Future (MRFR), the
global Automotive LED Lighting Market is projected to reach USD 20
Billion with a CAGR of 9% from 2016 to 2022 (forecast period). The report
evaluates the effects of the COVID-19 pandemic on the global Automotive LED
Lighting Market and provides a reliable estimate of the predicted fluctuations
in demand over the forecast period.
Key Players
The industry giants in the Automotive LED
Lighting Market are Osram Licht AG (Germany), Magneti Marelli S.P.A (Italy),
Stanley Electric Co.Ltd (Japan), Koito Manufacturing Co.Ltd (Japan),
Mercedes-Benz (Germany), Koninklijke Philips N.V. (Netherlands), Tata Motors
Limited (India), Hyundai Group (South Korea), Toyota Motor Corporation (Japan),
Zizala Lichtsysteme Gmbh (Austria) among others.
Market Dynamics
The market for automotive light-emitting diode
lighting is rising due to the low cost of LED lighting and efficient working. LEDs
are small solid light bulbs that are highly energy-efficient and long-lasting.
The long life of the LED lamps was initially attractive, but low brightness and
high cost meant that they were usually restricted for use in dashboards.
In addition to the technical advancement of
vehicles, automated LED lighting is one of them. Increased use of these can be
seen from two to four-wheelers. The adoption of this is rising day by day. It
can be fixed in the front, rear side, and interior of the vehicles. The LED
lighting ability is to improve overall plant productivity. By connecting
advanced lighting controls to industrial automation systems, LED lighting can
save costs and time, offer business intelligence data, reduce waste and
redundancies, and enhance plant operations.
Market Segmentation
The global Automotive LED Lighting Market has
been segmented into position, vehicle type, and adaptive lighting.
By position, the global Automotive LED Lighting
Market has been segmented into front, rear, side, and interior.
By vehicle type, the global Automotive LED
Lighting Market has been segmented into passenger car, light commercial
vehicles (LCV), and heavy commercial vehicles (HCV).
By adaptive Lighting, the global Automotive LED Lighting Market has been segmented into
front adaptive lighting, rear adaptive lighting, and ambient adaptive
lighting.
Regional Analysis
The regional analysis of the global Automotive
LED Lighting Market is being studied for regions such as the Asia Pacific,
Americas, Europe, and the Rest of the World.
The Asia Pacific region is expected to show
substantial growth in the Automotive LED Lighting Market due to the
fast-growing automotive industry in developing countries such as India, China,
and South Korea. Europe and North America are set to dominate the market for
LED lighting in terms of demand. Growing automotive production, coupled with
the adoption of energy-efficient lighting sources such as LEDs, is driving the
development of the automotive lighting industry in the European region.
Government enforcing to lesser CO2 emissions from the vehicle is also driving
the LED market in the region.
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