Automotive lighting is one major feature of any vehicle. It elucidates the roads for motive force that enhances the visibility, principally in the course of the night time. Automotive exterior lights play an essential position in driver & pedestrian security because daytime working lights (DRL’s) increases the visibility of a car on the street.
As per analysis, “Asia Pacific Automotive Exterior Lighting Market 2020-2026 by Technology, Product, Vehicle Type, Vehicle Autonomy, Sales Channel, and Country: Trend Forecast and Growth Opportunity” the key companies operating in the Asia Pacific automotive exterior lighting market include Flextronics International, Ichikoh Industries Ltd., Bosch, Hella KGaA Hueck & Co., GE Lighting, Changzhou Xingyu Automotive Exterior Lighting System, Hella KGaA Hueck & Co., Flex-N-Gate, Gentex Corporation, Infineon Technologies, Grupo Antolin, Koito Manufacturing Co. Ltd., Magneti Marelli S.P.A., Phoenix Lamps Division, Osram Licht AG, Koninklijke Philips N.V., Pacific Insight Electronics, Stanley Electric Co., Ltd., SCHOTT, Valeo, Shanghai Sunlight Enterprise and among others. Some of the key strategies adopted by leading companies to sustain their position in the market are contracts & agreements, expansions, and partnerships.
Based on product type, Asia Pacific automotive exterior lighting market is segregated as rear lighting, headlamps, sidelights and other exterior lightings. Based on technology type, market is segregated as xenon, halogen and LED technologies. Xenon light emits brighter light that provides better visibility. Halogen segment dominates the market as it is easy to use and have a ‘plug & play’ mechanism. Based on vehicle type, market is segregated as commercial vehicles (light & heavy commercial vehicles) and passenger vehicles (mid-prices, luxury and economy vehicles). Passenger vehicle segment is expected to witness higher growth rate due to growth in four-wheeler sales and increase in disposable income during the forecast period. Based on sales channel, market is segregated as aftermarket and original equipment manufacturer (OEM). In addition, based on vehicle autonomy, market is segregated as conventional vehicles and autonomous vehicles.
The Asia Pacific automotive exterior lighting market is driven by high sales of automobiles followed by rapid consumer adoption of vehicles and improved life-style of the individuals. However, low penetration of superior lighting in economical automobiles may impact the market. Moreover, growth in adoption of advanced lighting in the lower & mid-segment cars is a key opportunity for market.
The Asia Pacific is set to be the major market for automotive exterior lighting. It is one of the foremost automobile producers & markets in the world. China, India, and Japan are the key economies in the region that are expected to develop at a significant pace. China and Japan garnered the major shares within the market owing to the high production and sales of vehicles domestically. In addition, manufacturers in these countries focus on technological advancements such as lighting, therefore, driving the demand for automotive exterior lighting. It is likely that future of the Asia-Pacific automotive exterior lighting market will be bright caused by rise in per capita income of individuals coupled with high sales of SUVs in emerging economies during the forecast period.
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Ankur Gupta, Head Marketing & Communications