According to the Zion Market Research report, the global automotive OE lighting market accounted for around US$ 14.89 Billion in 2016 and is expected to reach approximately US$ 22.76 Billion by 2022, growing at a CAGR of around 7.31% between 2017 and 2022.
The growth of global automotive OE lighting market is primarily attributed to growing lighting regulations for better visual and safety across the globe. In addition, increasing demand for premium segment vehicles paired with manufacturer’s efforts to keep pace with technological changes in OE lighting systems are also some of the key supporting factors predicted to shape the growth of automotive OE lighting market in years to come. Demand for advanced lighting solutions due to rapidly changing infrastructure of road in developing economics, consumers leaning towards personal transportation & convenience and performance improvement with cost reduction are also major contributing factors expected to favour the growth of global automotive OE lighting market in analysis period. Restriction over high beam lights in some region may limit the growth of automotive OE lighting market in coming years. Nonetheless, collaboration of automotive OEM with lighting system manufacturers is expected to open up alluring opportunities for automotive OE lighting market in near future.
Amongst, the entire three products namely Halogen, HID Xenon, and LED Lights; LED Lights are expected to dominate product segment of the automotive OE lighting market in an analysis period. Integration of LED technology by manufacturers for differentiation via lighting design and additional functionalities is predicted to contribute the market growth. OEMs are also expected to invest in the design and development of eco-friendly lighting systems such as organic LEDs (OLEDs) in forecast period. Further, HID Xenon is also expected to become another noticeable product segment in the forecast period. Based on position, global automotive OE lighting is categorised into front lighting, rear lighting, side lighting and interior lighting. Front lighting emerged as a leading position segment for automotive OE lighting market and also predicted to grow with highest CAGR forecast period.
Passenger Vehicles segment held the largest market share in 2016 and accounted for over half of the total market share. The growth of this segment is mainly attributed to government regulations regarding sufficient installation of lighting equipment in passenger vehicles.
In 2016, Asia Pacific dominated the global automotive OE lighting market. Strong growth in the vehicle production and presence of key manufacturer in region will be key driving factors for Asia Pacific region in years to come. North America and Europe are also expected to offer significant growth opportunities in automotive OE lighting market in coming years. The growth of this region is mainly attributed stringent regulation of government over automotive lighting paired developed infrastructure of road have led the growth automotive OE lighting market. Popularity of sports cars in the young generation with fancy and elegance is also predicted to support growth of automotive OE lighting market in this region.
Some of the key players’ operative in the global automotive OE lighting are Delphi Automotive PLC, Flextronics Automotive GmbH & Co. KG, Odelo, Visteon Corporation, Federal-Mogul Corporation, Koito Manufacturing Co. Ltd. Other participants in the global market are ZKW, Covestro, Lumileds, Hella KGaA Hueck & Co., Gentex Corporation, Ichikoh Industries Ltd., Grupo Antolin Irausa S.A, OSRAM AG, Stanley Electric Co., Ltd., Hyundai Mobis Co., Ltd. and Valeo SA amongst others.