India Automotive Lighting Market to Reach $3.1 Billion, by 2022

India Automotive Lighting Market Global Opportunity Analysis and Industry Forecasts, 2014 - 2022

India Automotive Lighting Market by Technology (Halogen, Xenon, LED), Vehicle Type (Passenger Vehicles, Commercial Vehicles, TwoWheelers, Three-Wheelers, Tractors), Sales Channel (OEM, Aftermarket Product)

INTRODUCTION • Lighting is a vital component in automotive vehicles, playing an important role in automotive safety.

• The vehicle consists of different lights to increase the visibility in darkness and bad weather conditions along with the increase in conspicuity.

• The lighting system comprises lighting and signalling devices, which are placed at different locations such as front, rear, side, and interiors.

• Lighting provides illumination for the driver and helps other vehicle drivers and pedestrians on the road to detect the vehicle’s position, direction of movement, and size. It also enhances the aesthetic looks to both interior and exterior parts of the vehicle.

India Automotive Lighting Market

Current and Future Market Scenario

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In 2014, Halogen accounted for the highest revenue generation.

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The India Automotive Lighting Market has witnessed moderate growth during the past few years and is expected to grow at a CAGR of 5.6% during the forecast period.

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India Automotive Lighting Market is expected to garner $3.1 billion by 2022, Globally.

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LED automotive lights have gained increased demand from customers owing to their long shelf life and low temperature.

India Automotive Lighting Market

Factors Contributing to Market Growth • The India automotive lighting industry witnesses a steady growth on account of

the growing automotive production and increasing emphasis on vehicle safety and government regulations regarding automotive lighting systems.

• OEM market led by contributing 54% of total revenue in 2014, and is projected to grow at a CAGR of 5.7%.

• Fluctuating prices of raw materials and high R&D cost restrain the market growth.

Other factors that contribute to market growth are: • Growing emphasis towards road safety • Government regulations India Automotive Lighting Market

Market Segments

By Technology

By Vehicle Type

Halogen

Passenger Vehicles Commercial Vehicles

Xenon

By Application

Original Equipment Manufacturer (OEM) Product

Front Lighting

Two-Wheelers Three-Wheelers

LED

By Sales Channel Type

Tractors

Rear Lighting Side Lighting

Aftermarket Product

Interior Lighting Fog Lamps

India Automotive Lighting Market

Top Impacting Factors of India Automotive Lighting Market

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Growing emphasis towards road safety: Rising number of road accidents during bad weather conditions and night is the prime concern among vehicle drivers.

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Emerging government regulations: The Indian government has formulated various regulations regarding sufficient installation of lighting equipment in passenger vehicles.

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Growing automobile sales: Automobile sales has witnessed notable growth rate in India. The revival of economy has particularly supported the growth in the recent past.

India Automotive Lighting Market

Leading Players • The leading players in the India Automotive Lighting Market are highly focused to

expand their business operations in the fast-growing emerging countries with new product launches as the preferred strategy.

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Koninklijke Philips N.V., Phoenix Lamps Limited, Lumax Industries Limited, Osram Licht AG, GE Lighting, Magneti Marelli S.p.A., Koito Manufacturing Co. Ltd., Hella KGaA Hueck & Co., Valeo, and Neolite ZKW Lightings Pvt. Ltd. are key players in

this industry.

India Automotive Lighting Market

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India Automotive Lighting Market