Automotive Perimeter Lighting Market - Growth, Trends, and Forecasts (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||937991|
|出版日期||內容資訊||英文 75 Pages
|汽車周圍照明市場:成長，趨勢，預測(2020年∼2025年) Automotive Perimeter Lighting Market - Growth, Trends, and Forecasts (2020 - 2025)|
|出版日期: 2020年05月01日||內容資訊: 英文 75 Pages||
汽車週邊照明市場主要製造商，有Gentex、Koito Manufacturing、Magna International、Samvardhana Motherson Group、Setina Manufacturing等。
Automotive Perimeter Lighting Market is expected to register a CAGR of over 7% during the forecast period (2020 - 2025).
Some of the key manufacturers in the automotive perimeter lighting market include Gentex, Koito Manufacturing, Magna International, Samvardhana Motherson Group, and Setina Manufacturing.
Increasing Demand from End-user is Likely to Drive the Market
Apart from the existing portfolio of perimeter lightning products, like license plate lights, side door mirror lights, etc., automakers are offering puddle lamps, door handle lamps, etc., to provide an enhanced aesthetic appeal during night driving conditions.
Puddle lamps mounted on the side view mirror projects the light onto the road surface with a brand logo. These lights were initially commonly equipped in luxury and sports cars by automakers. However, as the technologically advanced products are easily accessible in aftermarket channels, the cost of puddle lamps have declined significantly over the past five years.
Also, companies, like Mahindra and Mahindra, Toyota, etc., have incorporated these puddle lights in their compact SUV segment cars, as a move to gain competitive advantage and customer adoption rate.
The demand for such perimeter lightning products has gained traction in North America and Asian countries. Additionally, as the government regulations are not stringent regarding perimeter lights, the demand from the aftermarket had observed significant traction, since 2015, in the emerging market.
The majority of the market share is captured by aftermarket channel, hence it is easier for new entrants to manufacture these new products, as the capital requirement is low, thereby creating a highly fragmented market situation.
Under the roof lights, auxiliary tail lamps, etc., are some other categories where the online sales channel is more dominant, owing to the highly competitive pricing strategy of e-commerce players.
Asia-Pacific to Dominate the Automotive Perimeter Lighting Market
The Automotive Perimeter Lightning Market is dominated by the Asia-Pacific region. China is expected to occupy a significantly high market share by the end of 2025 in the Asia-Pacific market. Some of the parameters driving the growth of the market are increasing disposable income of middle-class consumers which is giving rise to sales of medium segment cars and compact SUVs. Increase in demand for commercial vehicles due to growing activities in construction, logistics, tourism sectors.
Side mirror lights, a key and common area of focus must comply with technical standards. The standards include stipulating minimum and maximum permissible intensity levels, minimum horizontal and vertical angles of visibility, minimum illuminated surface area to ensure that they are visible at all relevant angles, ensure it does not glare when someone looks at it, and are suitably conspicuous in conditions ranging from full darkness to full direct sunlight. Moreover, led lighting is proving to be popular for this feature, as it can be molded to fit the door mirror.
Europe has been recognized as a major region, focusing on both passenger and pedestrian safety, along with implementing safety standards for vehicles. The regional automotive manufacturers, along with the automotive component suppliers, have been continually investing in R&D of safety technologies. With rapid technological advancements in the automotive industry.
The Automobile Perimeter Lighting Market is highly fragmented. Some of the major companies in the market are Gentex, Koito Manufacturing, Magna International, Samvardha Motherson Group, Setina Manufacturing. The Automobile Lightning Market is driven mainly by investments and innovation by major Automobile Perimeter Lighting manufacturers.