Press Release

Future Market Insights recently published a market study on the global Automotive LED Market using the latest market research methodologies and analytical tools. The presented report discusses the various factors that are expected to impact the growth of the Automotive LED Market in different geographies over the forecast period, 2018 – 2028. The analysts track the latest trends, developments, and innovations in the Automotive LED Market space to provide readers a fair understanding of the current market scenario.

According to the report, the Automotive LED Market is expected to reach a value of ~US$XX by 2019 and register a CAGR growth of ~XX% during the forecast period 2018 – 2028. The growth of the Automotive LED Market primarily relies on the growing demand from the end-use industries, surging investments in R&D projects, and penetration of advanced technology in the past few years.

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The report aims to provide answers to some important queries related to the Automotive LED Market:

  • How have technological innovations impacted the growth of the Automotive LED Market in recent years?
  • Which regional market is expected to witness the highest growth over the forecast period?
  • Who are the most prominent companies operating in the Automotive LED Market?
  • What is the projected value of the Automotive LED Market in 2029?
  • What is the most effective market entry strategy adopted by emerging market players?

Key Findings of the Report:

  • Y-o-Y growth of the various market segments
  • Supply-demand ratio of various products in different regions
  • Growth prospects of emerging market players in region 1 and region 2
  • Sales, marketing, and promotional strategies of different market players
  • Recent product development and innovations

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Automotive LED Market Segmentation

The presented study dissects the Automotive LED Market into different segments to offer a clear understanding of the various aspects of the market.

key players such as OSRAM and Lumiled are seen extending their capabilities in the Asia Pacific market.

The European automotive LED market is also one of the key markets that contribute to the overall growth of the market. The increasing use of automobiles in the European region is expected to provide major growth prospects for the companies that are involved in automotive LED manufacturing.

From Halogen Lamps to Automotive LED Lights, the Industry to Exhibit Major Transformation

The cost effectiveness associated with automotive LED is amongst the key factors that facilitate the shift from conventional halogen automotive lamps to automotive LED. This has further led to the adoption of automotive LED in the economy cars segment, which is amongst the major drivers for the penetration of the automotive LED market.

The prevalence of automotive LED in interior automotive lighting is comparatively higher. When it comes to exterior automotive lighting, there is a noteworthy uptake of automotive LED in the high-end and premium vehicle segment. Moreover, manufacturers are seen investing in innovation centers and advanced technologies, which is further expected to boost the market for automotive LED. OSRAM’s automotive LED are being incorporated for interior lighting to achieve a stylish ambience in the vehicles.

The increasing demand for hybrid and electric vehicles is expected to foster the demand for automotive LED owing to the automakers’ emphasis on attractive interiors to be a major differentiating factor. Furthermore, the governments of various nations are providing incentives for the manufacturing of automotive LED in light of their aim to promote the use of energy saving alternatives. The automotive LED market is influenced by these major factors that could contribute to its growth.

Auto-makers such as Jaguar are implementing automotive LED into their autonomous cars with innovative applications and are identifying newer capabilities of automotive LED. The company developed a prototype autonomous vehicle with two virtual eyes with the idea of making an eye contact with pedestrians to ensure that they feel safe when they cross the road.

Although being widely used, government regulations such as those imposed by the UK government are to be followed when automotive LED lamps are fitted into vehicles. Moreover, with drivers being distracted with bright lights in their rear view mirrors, it could be a restraining factor for the automotive LED market.

Automotive LED Market Players to Harness Future Opportunities with Innovative Offerings and Competitive Strategies

The automotive LED market participants are seen engaging in major strategic functions to ensure that they could grab a bigger share of the overall market. New product developments carried out by market players are anticipated to help the automotive LED market players differentiate their brand offerings in the global market.

  • OSRAM’s new automotive LED, Oslon Boost HX, is designed with innovation that helps headlights gain high resolution and project the relative information onto the road.
  • Lumiled had opened its new innovation center in Shanghai with an aim to reinforce its Asian commitments.
  • HELLA was seen partnering with Volkswagen for the development of the LED Matrix Headlamp

Automotive LED Market Segmentation helps Analyze the Sub-divisions of the Market

The automotive LED market is segmented based on three major factors which include application, type of vehicle, and sales channel. Based on the application, the segments in which the automotive LED market is sub-divided into interior and exterior lighting.

The segments in the interior automotive lighting include footwell lighting, dash, dome, and others while the exterior automotive lighting include fog lamps, turn signals, side makers light, daytime running lights (DRLS), tail lights, parking lights, and others. According to the vehicle type, the automotive LED market is segmented as LCV, passenger car, and HCV. The sales channels included in the segmentation of the automotive LED market are OEM and after-market.

The extensive research report on automotive LED market presents an effective assessment of the market and includes current data, historical data, and thoughtful insights. The information included in the report in an industry-verified data that backed by statistics. The report on automotive LED market also contains estimations using a set of methodologies and assumptions.  The report provides evaluation and data in terms of geographies, types, market segments, applications, and technology.

The report on automotive LED market masks an extensive evaluation on:

  • Segments of automotive LED market
  • Dynamics Influencing the automotive LED market
  • Valuation of the automotive LED market
  • Supply and Demand
  • Recent Trends, Challenges & Issues witnessed across the market
  • Major Market Participants and their relative competition
  • Value Chain
  • Technology

Geographical evaluation includes regions such as

  • North America Automotive LED Market (U.S., Canada)
  • Western Europe Automotive LED Market (Italy, Germany, France, U.K, Spain, Nordic countries, Netherlands, Belgium, Luxembourg)
  • Latin America Automotive LED Market (Mexico, Brazil, Rest of Latin America)
  • Eastern Europe Automotive LED Market (Russia, Poland, Rest of Eastern Europe)
  • Asia Pacific Excluding Japan Automotive LED Market (India, China, ASEAN, Australia & New Zealand)
  • Japan Automotive LED Market
  • Middle East and Africa Automotive LED Market (S. Africa, GCC countries, N. Africa, Rest of MEA)

The research report on automotive LED market is a synopsis of primary data gained by assessing the market in a qualitative and quantitative manner. This data is acquired by the research analysts, industry experts and participants across the value chain. The in-depth evaluation of the macro-economic indicators, parent market trends, factors governing the market, and segment-wise market attractiveness are all included in the report. The research study also maps the impact of the various factors on the regions and market segments.

The report on automotive LED market underlines:

  • Thorough outlook of Parent Market
  • Evolving Market Dynamics
  • Detailed Segmentation of automotive LED market
  • Market valuation in terms of Value and Volume: Current, Historical and Projected Data
  • Current Developments and Trends in Industry
  • Competitive Landscape
  • Key Players- Strategies Implemented and Products offerings
  • Regions and Niche and Potential Segments that exhibit promising growth
  • Market Performance- Unbiased perspective
  • Crucial data for Market Players to help in sustaining and enhancing market presence

NOTE – All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.

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