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Automotive LED Light Market: Europe is Anticipated to Remain the Second Most Lucrative Region

Major factors impacting growth of the automotive LED light market include expansion of automobile industry, surging sales of lightweight vehicles across the globe, focus on energy efficiency, and  soaring LED penetration. This Fact.MR report discusses key prospects for growth of global
automotive LED light market during the forecast period, 2017-2022, offering pragmatic insights to lead market players towards devising & implementing informed strategies.
Considering the wide scope of global automotive LED light market, Fact.MR’s report offers a segmentwise analysis and forecast. The global automotive LED light market is categorized into – application, sales channel, and region. In this section, the report renders an in-depth country-wise forecast on each parameter pertaining to automotive LED lights.
For More Details - A sample of this report is available upon request here -
https://www.factmr.com/connectus/sample?flag=S&rep_id=243
Extension of LEDs in automotive lighting systems is expected to have a higher potential, with improvements in LED modules, and advent of new technologies, for example – organic LEDs (OLEDs) producing homogenous light. One of the predominant market players, Osram has recently announced its new flexible OLED for automotive lighting systems. The aforementioned factors might fuel expansion of the global automotive LED light market.
Key Estimations on Future of Global Automotive LED Light Market
  1. In terms of revenues, aftermarket will continue to be the most lucrative sales channel in the global market, with sales poised to account for more than three-fourth share of the market during 2017 to 2022.
  2. Sales of automotive LED lights in OEM will register a comparatively faster expansion than that in the aftermarket through 2022.
  3. Asia-Pacific excluding Japan (APEJ) is expected to retain its dominance in the market, and revenues from the market in this region will account for over one-third market share during the forecast period.
  4. Europe is anticipated to remain the second most lucrative region for growth of the automotive LED light market, and poised to expand at 8.5% CAGR through 2022.
Browse Full report with TOC:
 https://www.factmr.com/report/243/automotive-led-light-market
Automotive LED Light Market: Vehicle Headlamps to Remain the Leading Application
Automotive LED lights are expected to find the largest application in headlamps of vehicles, with sales poised to exceed US$ 1,000 Mn in revenues by 2022-end. Brake lights are expected to be the second most lucrative application in the automotive LED light market. In addition, automotive LED light sales for application in brake lights and sidelights are projected to register a parallel expansion at 8.7% CAGR through 2022.
Competition Tracking
Key players listed in the Fact.MR’s automotive LED light market report include OSRAM Licht AG, HELLA KGaA Hueck & Co., Koito Manufacturing Co., Ltd., Stanley Electric Co., Ltd., Koninklijke Philips N.V., Valeo SA, Imasen Electric Industrial Co., Ltd., Texas Instruments, Nichia Corporation, and General Electric Company.

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