Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Automotive Interior Ambient Lighting Market Research Report.
The automotive interior ambient lighting market is accelerating vigorously mainly due to the increased popularity of ambient lightings. The ambient lighting offers a more aesthetic look and makes the automotive in-cabin look more spacious. These lightings provide the driver with additional safety as it ensures greater visibility of dashboard. Hence, these are extensively being adopted which increases its sales increasing its market size on the global platform.
Acknowledging the exponential accruals, the market is vibrating with currently, Market Research Future (MRFR) in its recently published study report asserts that the global automotive interior ambient lighting market is estimated to perceive a humongous growth by 2023 at approximately 6% CAGR during the forecasted period (2017 – 2023).
Growing automobile industry, worldwide, with the increasing sales of automotive alongside the increasing penetration of ambient lighting, provide impetus to the market growth of automotive interior ambient lighting. The emergence of innovative technologies to enhance safety and performance along with the dropping prices of components has increased the sales of automotive interior ambient lighting products.
Manufacturers are also developing premium interior ambient lights to accessorize vehicles. Innovations in interior ambient technology, the rise in popularity and the development of laser and interior ambient lights are the key trends that are contributing to the augmented growth of global automotive interior ambient lighting.
On the other hand, Factors such as slow growth of vehicle sales in BRIC nations, high costs of LEDlights, high research and development costs are projected to restrict the market growth of global automotive interior ambient lighting. Nevertheless, along with technological advancements in the vehicles, the consumption of these lights is growing day by day which is expected to support the market growth over the forecast period.
Global Automotive Interior Ambient Lighting Market – Segments
The automotive interior ambient lighting market can be segmented into four key dynamics for the convenience of understanding;
By Product Type : Dashboard Lights, Ambient Lighting, Head-up Display, and Reading Lights among others.
By Technology : Halogen, LED and Xenon among others.
By Vehicle Type : Passenger Vehicles and Commercial Vehicles among others.
By Region : North America, Europe, APAC and the Rest-of-the-World.
The subsegment – LED is expected to dominate the global market by technologies in terms of market revenue. The growth of LED can be attributed to its extensive popularity due to its increased energy efficiency as compared to the other lighting technologies and the phasing out halogen bulbs.
Automotive Interior Ambient Lighting Market –
The North American region dominates the global automotive interior ambient lighting market with its fast-growing market. Burgeoning automotive industry and innovations brought about in the lighting technology provide impetus to the growth of the regional market. Also, the high rising disposable income and increasing new vehicle registrations support the market growth in the region.
The US being the major producer of automotive lighting technologies leads the market in the region. Besides the presence of major market players is expected to drive the market in the country and hence, the market growth of the regional market.
The European region with its well-established automotive industry accounts for the second-largest market for automotive interior ambient lighting. The presence of several giant automakers in the region is the main driving force acting as a headwind to the market growth. Undoubtedly, the resurging economy is at the root fostering the market growth, increasing consumers’ purchasing power.
Asia Pacific region owing to the fast-growing automotive industry in countries such as China, South Korea, and India is projected to show significant growth in the automotive interior ambient lighting market. Increasing automotive production paired with the adoption of energy efficient lighting source is driving the growth of the automotive lighting industry is escalating vibrantly allowing the APAC market to become a lucrative space, globally. Countries across APAC are currently witnessing increasing economic growth which in turn, is propelling the market growth feverishly, improving the purchasing power of consumers.
Global Automotive Interior Ambient Lighting Market – Competitive Analysis
The highly competitive market of the automotive interior ambient lighting is totally reliant on the unit sales of automotive is fostered by the increase in automotive production. The presence of numerous large and small key players defines the market as fragmented.
Matured players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain a competitive advantage and to maintain their position in this market.
These players emphasis on geographical expansion and new product development initiatives. The market is anticipated to witness the relentless innovations and development of new products, eventually result in intense competition among the automotive lighting manufacturers.
The market is driven by some of the leading players including Koito Manufacturing Co., Ltd. (Japan), Hella KGaA Hueck & Co (Germany), Federal-Mogul Corporation (US), OSRAM Licht AG (Germany), GE Lighting (US), Magneti Marelli S.p.A (Italy), Zizala Lichtsysteme GmbH (Austria), Grupo Antolin (Spain), Valeo (France), Ichikoh Industries, Ltd. (Japan), OSRAM Licht AG (Germany), and Stanley Electric Co., Ltd. (Japan).
Industry/ Innovation/ Related News:
September 18, 2018 - BMW Group (Germany), one of the giant automakers threw some more light on the interior specifications post to unveiling the launch plans of 2019 BMW Z4 in last month. On sale starting March 2019, the 2019 Z4 will initially launch with the sDrive30i variant, that allows buyers to customize their Z4s via their Individual program, like choosing color along with other options to include dual-zone climate control and interior ambient lighting.