Tag: automotive lighting

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According to a new report by Allied Market Research titled, “Global Automotive Lighting Market – Technology, Vehicle Type, Applications, Size, Share, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2014–2020″, the global automotive lighting market is expected to reach $33.7 billion by 2020, registering a CAGR of 6.7 percent during 2015–2020. Automotive lighting industry is witnessing a steady growth on account of growing automotive production across the world. The growing emphasis on vehicle safety and government regulations regarding automotive lighting systems, are contributing to the market growth. Additionally, increasing disposable income of people is supporting the demand of aesthetic looks for vehicles, which in turn, is creating the demand for advanced lighting solutions.

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Recently auto makers have been adopting various LED lighting systems that can combine up-to-date functions with aesthetic factors.  Although LED lamps that have been applied to high-end car models such as Audi and BMW so far, they are rapidly making inroads into lower-end models as well.  Especially, as DRLs (Daytime Running Lights) are made compulsory in Europe from 2011, the automotive LED market is growing rapidly.