Lighting and Automotive Market A Niche not to be ignored for B2B Market

Automobiles without lights are nothing. Light is an essential element with uninterrupted advancements in LED and lighting technologies. Several automotive manufacturers decided to reduce their energy consumption in different lighting units intensifying every component of the vehicle by bestowing revamped visibility.

The most important objective of the lighting in a vehicle is to assist the driver in darkness and severe weather and intimate the position, presence, and size to the other motorists on the road.

Apart from assisting, lighting is also placed on the vehicles to enhance the style of the interior, and improving the charisma and overall look of the car. The three most essential technologies used in the lighting are LED, HID and halogen, out of which halogen is most popular and most commonly used.

The manufacturers in the automobile industry have tremendously reduced the consumption of energy by using enhanced Automotive Lights and Lighting Parts technologies.

The total revenue of the lighting market all over the world is expected to be around $25.36 billion by the end of 2018. Some essential factors which propel the automotive lighting market are the increasing effect of road safety, growing usage of LED lighting technology in automotive and legislations of lighting provided by the governments.

Similarly, with the rise in the purchasing power of the consumers, the demand for the most enlightened and advanced lighting technologies have doubled like AFS (Advanced Front-Lighting System) and DRLs (Daylight Running Lights).

With the expansion of the production of vehicles in BRIC countries, this factor is going to play a significant role in automotive lighting shortly. The primary threats in this industry pertain to the cost of technology in LED and high costs of R&D involved in making such technologies.

Pacific countries in Asia are considered as the leading and the most significant lighting market all over the world. South Korea, Japan, India, and China are some of the most critical countries accounting almost all of the vehicle production in the world, and therefore extending the opportunities for growth in the lighting market.

After Asia, Europe and North America are the most significant markets. With vehicle productions growing at a rapid rate and population expanding to a large extent, consumer lifestyles are constantly evolving so are their requirements which is why the automotive lighting markets are also improving and convincingly assisting the consumers.
Some crucial companies in lighting market all over the world are:

Hyundai Mobis
Ichikoh Industries
Phillips Electronics
Vale S.A

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