Lighting plays a significant role in automotive vehicles to provide illumination for driver. Lighting system also helps other drivers & pedestrians on the road for detecting the vehicle’s position, size and direction of movement. It adds aesthetic looks to both exterior and interior parts of the vehicle and at the same time enhances the conspicuity of the vehicle. It encompasses lighting and signaling devices. Lighting equipments’ are mounted on a variety of locations in the vehicle for instance front, rear, top, and interiors.
As per analysis, “Europe Automotive 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 Europe automotive lighting market include Hella KGaA Hueck & Co., Johnson Electric Holdings, Bosch, Infineon Technologies, Grupo Antolin, Magneti Marelli S.P.A., Ichikoh Industries Ltd., GE Lighting, Hella KGaA Hueck & Co., Magneti Marelli S.P.A., Koito Manufacturing Co. Ltd., Changzhou Xingyu Automotive Lighting System, Osram Licht AG, Pacific Insight Electronics, Koninklijke Philips N.V., SCHOTT, Valeo, Stanley Electric Co., Ltd., Shanghai Sunlight Enterprise and among others. Leading strategies adopted by leading companies to maintain their position in the market are contracts & agreements, expansions and partnerships.
On the basis of product type, Europe automotive lighting market is divided into exterior lighting (rear lighting, headlamps, sidelights and other exterior lightings) and interior lightings (car body lighting system, roof console lighting system, ambient lighting system and reading light system). On the basis of technology, market is divided into xenon, halogen and Light Emitting Diode (LED). LED lights provide high-quality light-emitting diodes, durability & strength, and are superior to all other forms of lighting technology. On the basis of vehicle, market is divided into commercial vehicles (light & heavy commercial vehicles) and passenger vehicles (mid-priced vehicles, economy vehicles and luxury vehicles). On the basis of sales channel, market is divided into aftermarket and original equipment manufacturers (OEM). Additionally, on the basis of vehicle autonomy, market is divided into conventional and autonomous/self-governing vehicles.
Growth in automobile production, increase in government regulations, rise in sales of luxury cars, increase in number of accidents especially during the night, growth in emphasis towards road safety and rise in sales of low-cost vehicles, owing to an increase in disposable incomes of the middle-class customers are some major factors, which are responsible for growth of Europe automotive lighting market. Apart from this, high price of LED lights may impact the market. Moreover, rise in demand for advanced technology in vehicle is a leading opportunity for market.
Europe region is focusing on both passengers and pedestrian safety, along with implementing the safety standards for vehicles. The regional automotive manufacturers and automotive component suppliers have been constantly investing in the Research & Development (R&D) of safety technologies. It is projected that future of the Europe automotive lighting market will be bight as a result of rapid technological advancements in the automotive industry coupled with rise in demand for commercial vehicles due to growth in logistics industry (primarily owing to growth in e-commerce sector) and construction industry during the forecast period.
For More Information, click on the link below:-
Europe Automotive Lighting Market Research Report
Global Automotive Lighting Market by Product Type, Market, Players and Regions-Forecast to 2026
Ankur Gupta, Head Marketing & Communications