Automotive Lighting Market to Reach USD 53.6 Billion by 2027; Stern Road Safety Standards to Fuel Product Demand, states Fortune Business Insights™

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Pune, India, Nov. 30, 2020 (GLOBE NEWSWIRE) — The global automotive lighting market size is expected to reach USD 53.6 billion by 2027, exhibiting a CAGR of 8.5% during the forecast period. The surging number of road accidents around the world will spur opportunities for the market during the forecast period, states Fortune Business Insights, in a report, titled Automotive Lighting Market Size, Share & COVID-19 Impact Analysis, By Application Type (Front Lighting, Side Lighting, Rear Lighting, and Interior Lighting), By Technology Type (LED, Halogen and Xenon), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecasts, 2020-2027.” The market size stood at USD 44.7 billion in 2019.

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List of the Leading Companies Profiled in the Global Automotive Lighting Market are:

  • Hyundai Mobis (‎Seoul, South Korea)
  • Continental AG (Hanover, Germany)
  • Koninklijke Philips  (Amsterdam, Netherlands)
  • Robert Bosch GmbH ( Gerlingen, Germany)
  • varroc group ( Aurangabad, India)
  • Valeo (Paris, France)
  • Hella GmbH (Lippstadt, Germany)
  • Denso (Aichi, Japan)
  • Lear Corporation (Michigan, United States)
  • OSRAM  (Munich, Germany)
  • Magneti Marelli (Corbetta, Italy)


Market Driver

Strict Road Safety Norms to Boost Business Growth

The use of high beam light at night for better visibility has led to severe road accidents due to the discomfort or sudden glare caused while driving. The high beam headlight may cause sudden glare to the driver of another vehicle approaching from the opposite end. Thus, the government has imposed safety norms for automotive manufacture, which involves the installation of adaptive headlights in vehicles. Moreover, the utilization of a high beam can …

Full story available on Benzinga.com

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