LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global automotive lighting market report until 2021. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The automotive lighting market is highly competitive in nature, with several new innovative technologies being introduced by vendors to improve safety and performance and enhance the appeal of vehicles. An increased focus on vehicle safety and the increased demand for better road illumination by customers are the major drivers of the market. Adoption of LED and laser lights has been increasing with an emphasis on vehicle styling.
Competitive vendor landscape
The global automotive lighting system market is a highly fragmented market with the presence of many global and regional local vendors. The market is very dependent on automobile sales and is driven by the increase in vehicle production and regulatory mandates. The maturity, which the automotive parts market is facing, has resulted in intense competition among the players, including the automotive lighting system manufacturers.
Amey Vikram, an industry expert at Technavio for research on automotive electronics, says, “Lighting is equally important for both interiors and exteriors of a vehicle. The European manufacturers, who are known for their elegant interiors and lighting, have been increasing the popularity of interior lightings globally by widening their geographical presence, especially in APAC countries. End users of these countries are currently expecting vehicles with stylish interiors of high quality even for an extra cost in the economical vehicles segment. Lighting forms a major part of enhancing the ambiance of interiors. Hence, it is pushing the automotive interior lighting system market.”
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Top five automotive lighting market vendors
Hella
Hella company is involved in design and selling of lighting technology and systems, and electronic components for the automotive industry globally. It specializes in headlamps and electric control circuits. In the lighting division, it offers work lights, front lights, headlights, taillights, beacons, and interior lights with halogen, xenon, and LED technology for the lighting system.
KOITO
KOITO focuses on the manufacturing and sale of electrical equipment, aircraft parts, automotive lighting equipment, and other products. The company's products are used in various applications, such as transportation, aviation, traffic systems, railways, and shipping. It also operates through more than 29 subsidiaries and four manufacturing plants across five major regions of the world (North America, Europe, Asia, Japan, and China).
Magneti Marelli
Magneti Marelli supplies automotive parts and automotive lighting systems. It focuses on designing and manufacturing of lighting systems and components in the automotive industry. Its business segments include automotive lighting, powertrain, electronic systems, suspension systems, exhaust systems, plastic component and modules, aftermarket parts and services, and motorsport.
OSRAM
OSRAM provides lamps, luminaires, and lighting solutions. It caters to retail, supermarkets, automotive applications, industrial buildings, medical applications, hospitality, and street and urban markets. The company offers lighting solutions for cars, motorcycles, and trucks.
Valeo
Valeo is an automotive supplier, which partners with the automakers worldwide. It provides innovative systems and products which help in CO2 emissions reduction and improved vehicle performance. It also develops systems for intuitive driving. Some of the key customers of Valeo include BMW, BYD Auto, Ford, Honda, Hyundai Group, Mitsubishi, Renault-Nissan, Suzuki, Tata Motors, Toyota, Volkswagen Group, and Volvo Group.
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