Europe Automotive Adaptive Lighting Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Lighting plays the crucial role in the automotive industry as lighting is compulsory to drive the vehicle and reach the destination safely especially in the night times. This shifting of the light sources from the gas discharge to solid-state lighting has paved the way for the reduction of CO2 gas which is essential factor accelerating the market growth. Energy efficient systems and sudden decrease in the LED costs is one of the factors which is fueling the market growth. Other factors like increase in the automotive production and demand for high-end lighting solutions are fueling the growth factor.
Europe Automotive Adaptive Lighting Market Size:
Europe Automotive Adaptive Lighting market is poised to reach the value of $22.42 billion in 2024 from $15.18 billion in 2018, growing with the CAGR of 6.68%. Key points like increasing demand for advanced lighting solutions for premium segment vehicles, growth in the sales of automotive making positive impact on lighting solutions are accelerating this market growth. Automotive geospatial analytics market has opportunities like crucial players of automobile industry partnering with light manufacturers, the evolution of new applications with growing need of safety. Factors like regulatory issues related to laser and LED lights, sophisticated lighting and massive investments in R&D, fluctuating prices of raw materials and high cost associated with LEDs are restricting the market growth.
Europe Automotive Adaptive Lighting Market Share:
Position, technology, vehicle type, application and geographical regions are the segments present in the automotive adaptive lighting market. There are sub-segments like front position, rear position, side position and interior are present by
Europe Automotive Adaptive Lighting Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
type. Front position is expected to have the significant share of the halogen technology which is the prior technology is present in this position. Side position lighting also plays an essential role in the traffic indications to know in which direction the front and back vehicle is expected to move in. Halogen/Incandescent, Xenon/HID, LED technology classifies lighting and others. Owing to the benefits of low temperature, flexibility in designing, energy consumption and bright illumination LED light is the fastest growing market on the base of the type of technology. Halogen technology is having a
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Europe Automotive Adaptive Lighting Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
tremendous share and expected to continue its dominance owing to the increase in its usage. Passenger vehicles, light commercial vehicles and heavy commercial vehicles are classifications on the base of application. Increase in the vehicle sales, the passenger vehicles segment is considered as the fastest growing. Front light and rear light are the segments based on application type. The front light section is further classified as the front fog light, front indicators, front parking light are the classifications. The rear view is classified as a brake light, rear gauges, reverse light, license plate light and others. In the first light classifications, signs and parking light play the significant role as they indicate the direction of the vehicle. Reverse light ensures that car is going to take opposite direction and license plate light gives a clear view of the vehicle number. Geographical classification of automotive adaptive lighting market includes UK, Germany, France, Italy, Spain and other regions. Europe
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