Automotive Exterior Lighting Market Projected for Faster Penetration Due to Prices Drop of LED

 The global automotive exterior LED lighting market report thoroughly evaluates the current and prospective scenario of the global market for automotive exterior LED lighting, considering 2017-2022 as the assessment period. Although the automotive exterior LED lighting market has been projected to see poor overall growth over the next few years, the global revenue is likely to exceed the value of US$ 1.2 Bn towards the end of 2022. LED lighting market, offers an extensive range of insights on the global scenario of the market for automotive exterior LED lighting. The report highlights that surging demand for automotive exterior LED lighting in compact passenger vehicles and dropping LED prices may push the white space opportunities for automotive exterior LED lighting manufacturers in years ahead – in terms of technological innovation and R&D of modern automotive exterior LED lightings.

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The global automotive exterior LED lighting market is likely to observe sluggish growth over the next five-year assessment period, possibly approaching the valuation of US$ 1.2 Bn by 2022 end. "The key players in automotive exterior LED lighting market will maintain the research spotlight on input voltage, temperature, and vibration, as these parameters dictate the tests and standards. Passive expansion of automotive exterior LED lighting market will prominently be the result of the complexity to meet stringent safety regulations established by government authorities," says the expert research analyst, Fact.MR.

Among the various vehicle type categories in the global automotive exterior LED lighting market, compact passenger cars are poised to reach the valuation in excess of US$ 300 Mn by 2022 end, and Europe will remain the largest market generating demand for automotive exterior LED lighting for installation in compact passenger cars. Though projected for a sluggish CAGR over 2017-2022, Europe’s automotive exterior LED lighting market is slated to remain dominant over other regional markets for automotive exterior LED lighting. Poor growth of European market is attributed to volatile economic conditions that have been impacting industries across the continent in recent years. Developing economies in Asian rim are most likely to uplift the prospects for automotive exterior LED lighting, attributed to affordable prices and increasing purchasing power of consumers.

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Regulatory Bodies Compel Key Players to Adhere to Automotive Exterior LED Lighting Norms

In the backdrop of escalating significance of vehicular safety and vehicle emission control, government and industry authoritative bodies have established a set of stringent regulatory standards. While a majority of structural automotive changes such as electrification, engine downsizing, overall vehicular weight reduction, carbon footprint regulation, driver safety mechanism, and enhanced connectivity have been driven to be in practices by the regulatory norms, leading companies are also focusing on the automotive lighting part. Key stakeholders in the automotive exterior LED lighting market are directing their R&D efforts to meet specific norms set by the authorities such as United Nations Economic Commission for Europe (ECE), The US Department of Transport (DOT), the Society of Automotive Engineering (SAE), and others operating regionally.

Apart from the aforementioned companies, this report on the global automotive exterior LED lighting market provides strategic insights on other leading participants in the automotive exterior LED lighting market landscape. Some of the profiled players include Osram Licht AG, Koninklijke Philips N.V, Hella KGaA Hueck & Co, Magneti Marelli S.p.A., Stanley Electric Co. Ltd, Texas Instruments Incorporated, Zizala Lichtsysteme GmbH, Lumax Industries Ltd, Changzhou Xingyu Automotive Lighting Systems Co., Ltd., and Imasen Electric Industrial Co., Ltd.

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