Increasing sales of luxury cars to drive automotive lighting industry
25 Jun 2015
Automotive lightings have emerged as an ultimate option for the road ahead. The first choice of all top car manufacturers - need for original systems at unmatched quality standards and automotive lighting manufacturers with many years of experience has spurred growth in the aforesaid lighting segment. Products from market players such as Philips, General Electric (GE), Ichikoh Industries Ltd. and Zizala Lichtsysteme GmbH combine technical excellence coupled with genuine concern for a driver’s safety and comfort , making most of them a leading supplier to various reputed set makers. Eyeing the increasing demand for automotive lighting services Philips NV, in March this year sold majority stakes in automotive lighting operations and components to a reputed investment giant, in a cash arrangement that accounted the business at approximately $3.3 billion.
Earlier, in automotive applications the usage of LED lighting was restricted to the concept vehicles only. Today these LED’s are being popularly used in different automotive and for dashboard backlighting in trucks, interiors as well as brake lights. In a recent instance the new Volkswagen Vento that has undergone a great facelift is seen boasting of its ambient and cornering lightings that adds to the dual tone interior of the make. Several luxury car brands such as the BMW 7series, Jaguar XJ range, 2016 Bentley Bentayga and 2016 Mercedes –Benz GLE class among others are reported busy improving the advanced technology and performance of the solid –state light emitting diode lighting applications . Revealing the future of the luxury car BMW – 7 series, ambient light system promises to take the interior to the next level.
In a recent report published by Allied Market Research titled “Global Automotive Lighting Market (Applications, Vehicle Type, Technology and Geography) - Size, Share, Trends, Company Profiles, Demand, Insights, Analysis, Opportunities, Segmentation and Forecast, 2014 – 2020,” the Halogen, Xenon and LED lighting technology would observe exponential growth in coming four to five years. Meanwhile automotive lighting manufacturers are concentrating on much lighter, trusted and smaller components to enhance the exterior lighting of a luxury – ameliorating the performance of the vehicles and allure.
The automotive lighting market has grown rapidly in regions including LAMEA, North America, Asia –Pacific and Europe for offering lower cost as well as longer self-life. Presently, the investment pockets of the car lighting product also seem to be growing with global giants like TATA having invested about $50 million in Varroc automobile systems including lighting business. Thus ascertaining the revitalized lighting systems for both commercial and passenger car the future looks promising for the automotive lighting market.
Research Analyst at Allied Market Research
Ranjan has over 4 years of experience in market research and consulting across multiple domains which include technology, FMCG and durable consumer goods, heavy machinery, and automotive. He has hands on expertise in predictive and exploratory research projects for studying regional and global demand potential, market estimation & forecast, perceptions; analyzing macro and micro markets in terms of key gaps and opportunities. Ranjan is part of multiple consulting as well as syndicated report assignments and is actively involved in all the stages of project completion from planning, execution to delivery as per clients satisfaction.