Automotive Lighting Market is expected to grow with a CAGR of x.x% during the forecast period of 2018 to 2025.
Lighting is an indispensable component of an automotive. It plays a crucial role in the automobile safety. These lights prove themselves quite efficient in increasing the visibility in darkness and during bad weather conditions. Automotive lighting is also used for signaling which helps in increasing the on-road safety. The lighting system is placed at various locations of the automobile unit such as front, rear, top and interiors. This not only eases the driver while driving, but also the other vehicles and pedestrians on the road in driving, walking safely and get alarmed when required. Further it also adds elegant and ornamental looks to the vehicle.
An increasing demand of automotive vehicles has led the Automotive Lighting Market to grow with a high rate. One of the key drivers of automotive lighting market is, concerns regarding the road safety and rule & regulations made by various governments in concern with automotive lighting. Highly efficient LED lighting technology is extensively used as a substitute of Halogen Lights. However high costs of LED lights is a restraining factor for the growth of the market. Though, LED is the fastest growing technology in automobile lighting market. It is quite energy efficient, lightweight and space efficient. These instincts are the major reasons for the fast growth of this technology. Halogen will be dominating the market as a result of its low cost.
AUTOMOTIVE LIGHTING MARKET SEGMENTATION
By Vehicle Type
â¢ Passenger Vehicles
â¢ Commercial Vehicles
â¢ Exterior Lighting
o Head Lightings
o Rear Lighting
o Side Lighting
â¢ Interior lighting
â¢ North America
â¢ Rest of World ( Latin America, Africa and Middle-East)
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