Almost all modern vehicles depend on perimeter lighting systems for nigh visibility or in poor lighting conditions. Moreover, safety regulations make them a mandatory setup in modern vehicles.
The global automotive perimeter lighting system market is also benefiting for innovation in OLED and LED lighting technologies. The arrival of LED lights that are aesthetically appealing has boosted their adoption in automotive industry. Meanwhile, demand for cost-efficient and low maintenance lighting system is also rising, which is opening new windows of opportunity for market players.
Areas such as design, performance and size are also being actively explored by manufactures to distinguish their products. Emphasis is also being place on structure, design integration and safety. Many manufacturers are shifting their focus towards expanding their product portfolio and enter new segments such as sequential turn signals & LED notifications. Nevertheless, high-price of raw materials such as ceramic and brass remains major challenge for manufacturers.
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Global Automotive Perimeter Lighting System Market: Segmental Analysis
MRFR’s report includes a detailed segmental assessment of the market based on type, material, application and region.
On the basis of type, the market has been segmented into LED lights, halo rings, fluorescent bulbs and others. On the basis of material, the market has been segmented into plastic, glass, fiber and others. On the basis of application, the market has been segmented into heavy commercial vehicle, light commercial vehicle and passenger car.
Global Automotive Perimeter Lighting System Market: Competition Analysis
MRFR’s report covers some of prominent companies operating in the global market for automotive perimeter lighting system namely HELLA GmbH & Co. (Germany), Magna International Inc. (Canada), Automotive Lighting (Germany), Gentex Corporation (U.S.), Feniex Industries (Texas), Samvardhana Motherson Group (India) and KOITO MANUFACTURING CO., LTD. (Japan).
Global Automotive Perimeter Lighting System Market: Regional Analysis
MRFR in its report has covered the market across regions such as Asia Pacific (APAC), Europe, North America, South America, and the Middle East & Africa (MEA). Among these, Europe accounts for a standout share of the global automotive perimeter lighting system market in terms of value. The region’s exceptional automotive industry remains a major driving force for the market in Europe. Moreover, uptick in sales of the vehicles in European countries such France, Germany, the U.K., and Netherland is reflecting favourably on the Europe automotive perimeter lighting system market. Other factors such as introduction of stricter government regulations and EU’s effort to improve automotive safely guidelines are creating opportunities for market players operating in the region.
Asia Pacific is projected to emerge as the fastest-growing market for automotive perimeter lighting system during the forecast period. The automotive manufacturing sector has witness tremendous growth in APAC, especially is China, which has boded well for market players operating in the region. Macroeconomic factors such as rising per capita income, changing lifestyle and improving standard of living having made a positive impact on the automotive sector in APAC. Countries such as China and India are expected to make significant contribution to the region’s market during the forecast period. The countries mentioned above are positing a strong demand for both commercial and passenger vehicles and this trend likely to continue beyond 2019. At the same time, market opportunities for fuel-efficient automotive options is expected to grow at an impressive rate in APAC over the next several years.
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