Global Automotive Interior Ambient Lighting Market 2021 | Expected To Grow At A CAGR Of 6% And Record A Substantial Market Valuation Over The Review…

iCrowdNewswire Jan 18, 20211:00 AM ET

Drivers and Restraints

The growing automobile industry, worldwide, with the increasing sales of automotive alongside the rising penetration of ambient lighting, provide a push to the market growth of automotive interior ambient light systems. The advent of innovative technologies to enhance safety and performance, along with the plummeting prices of components, has improved the sales of automotive interior ambient lighting products. The global market for automotive interior ambient lighting is majorly driven by the increased popularity of ambient lightings. Ambient lighting products comprise products such as light rings, diffuser lenses, and LED pin spotlights, which are broadly used in interior components such as instrument panels, door panels, and seat frames. The usage of this interior ambient lighting gives a pleasing effect to the driver and facilitates enhanced functionality and comfort, thereby illuminating necessary functions to be performed in the dark.On the other hand, Factors such as sluggish growth of vehicle sales in BRIC nations, high costs of LEDlights, high research, and expansion costs are projected to restrict the market growth of global automotive interior ambient lighting. Nonetheless, along with technological advancements in vehicles, the consumption of these lights is growing gradually which is anticipated to encourage the market growth over the forecast period.

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Segmental Analysis

The globalmarketfor automotive interior ambient lighting has been segmented based on vehicle type, product type, technology, and region. Based on technology, the market has been segmented as LED, halogen, and Xenon. Among this, LED is likely to lead the global market by technology, in 2016, in terms of market revenue. The growth of LED can be accredited to influential factors such as a more significant number of features such as enhanced energy efficiency in comparison to the previous lighting technology and the phasing out of the formerly used halogen bulbs.

Regional Analysis

Geographically, the global market for automotive interior ambient lighting has been analyzed in major regions such as Europe, Asia Pacific, North America, and Rest of the World. The North American region leads the global automotive interior ambient lighting market with its fast-growing market. Burgeoning automotive industry and modernization brought about in the lighting technology provide impetus to the growth of the regional market. Also, the rapidly rising disposable income and increasing new vehicle registrations support the market growth in the region.

The US is the primary manufacturer of automotive lighting technologies, dominates the market in the region. Besides, the presence of chief market players is anticipated to drive the market in the country and thus, the market growth of the regional market.

The European region, with its established automotive industry, is assessed as the second-largest market for automotive interior ambient lighting. The presence of several giant automobile manufacturers in the region is the crucial driving factor acting as a fuel to the market growth. Undoubtedly, the resurging economy is also fostering market growth, since it contributes to the increasing purchasing power of consumers.

Asia Pacific region has the fast-growing automotive industry in countries such as China, South Korea, and India and is thus projected to show substantial growth in the automotive interior ambient lighting market. Growing automotive production, along with the adoption of energy-efficient lighting sources, is driving the growth of the automotive lighting industry is escalating rapidly, allowing the APAC market to become a profitable landscape. Emerging nations across APAC are currently displaying increasing economic growth, which is consequently propelling the market growth and improving the purchasing power of consumers.

Competitive Analysis

The prominent players in the globalautomotive interior ambient lighting marketinclude Federal-Mogul Corporation (U.S.), Hella KGaA Hueck & Co (Germany), GE Lighting (U.S.), Koito Manufacturing Co., Ltd. (Japan), OSRAM Licht AG (Germany), Grupo Antolin (Spain), Magneti Marelli S.p.A (Italy), Valeo (France), Zizala Lichtsysteme GmbH (Austria), Stanley Electric Co., Ltd. (Japan), Ichikoh Industries, Ltd. (Japan), OSRAM Licht AG (Germany), and others.

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Key Questions Addressed by the Report

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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Global Automotive Interior Ambient Lighting Market 2021 | Expected To Grow At A CAGR Of 6% And Record A Substantial Market Valuation Over The Review...