Transparency Market Research in its new report titled, “Car Body Lighting Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the car body lighting market. The TMR report anticipates that the stringent lighting regulations for better visibility and safety, increasing demand for luxury and premium vehicles, low cost availability of effective lighting, and rising concern about vehicle safety will drive the car body lighting market during the forecast period i.e, 2018-2026. However, high investment in research and development activities are likely to hamper the car body lighting market during forecast period, says the report.
The TMR report has segmented the car body lighting market based on type of light, application, sales channel, location, vehicle type, and region. On the basis of type of light, the car body lighting market is divided into OLED (Organic LED), LED, HID (High Intensity Discharge), and others. The LED segment dominated the current car body lighting market and is expected to maintain its dominant position in the market during the forecast period. LED lights offer several advantages over other types of car body lights such as more efficient, power saving, and durable. In terms of application, the car body lighting market is split into headlights, tail lights, daytime running lights, fog lights, and others. The headlight segment held a major share of the car body lighting market. The headlights enable the driver to spot obstacles on the road during darkness. Two types of headlights are installed in vehicles, namely, low beam and high beam. A high beam headlight provides intense light, while a low beam headlight provides light for forward and lateral illumination.
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In terms of location, the car body lighting market is segregated into interior and exterior. Exterior was the leading segment of the market, and it is expected to dominate car body lighting market during the forecast period. The exterior of a car incorporates several lights owing to different applications such fog lamp, tail lights, headlights, and indicator lamps. On the basis of sales channel, the car body lighting market is segmented into OEMs and aftermarket. Aftermarket is the dominant segment of the market. In the aftermarket, parts made by third-parties that add aesthetic and performance features are available at low cost and their quality varies according to manufacturer. On geographical standpoint, the car body lighting market is divided into North America, Europe, Asia Pacific, and Middle East & Africa. Among these, Asia Pacific is expected to dominate the global car body lighting market during the forecast period. The presence of a prominent automotive industry in China, Japan, and India is primarily driving the car body lighting market in Asia Pacific.
Some of the major players operating in the global car body lighting market are profiled in this report and these include HELLA GmbH & Co. KGaA, Magneti Marelli S.p.A., KOITO MANUFACTURING CO.,LTD. , General Electric Company, Valeo S.A., and STANLEY ELECTRIC CO., LTD.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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