- The key vendors in the Automotive Lighting Market in the US 2014-2018 are Hella KGaA Hueck & Co., Koito Manufacturing Co. Ltd., Magneti MareIli SpA and Valeo SA.
London, 28 October 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Automotive Lighting Market in the US 2014-2018. One of the major trends in this market is the innovation in LED technology. This technology is becoming more attractive with the evolution of OLED technology in the market, which reduces the cost of production of LEDs, making it a feasible option. The Automotive Lighting market in the US is expected to witness a steady growth with a CAGR of 7.72 percent during the forecast period of 2013-2018.
The increased focus on energy efficiency by both consumers and the government is facilitating the shift to low-power consuming technologies such as LED. Several new advanced technologies are introduced by vendors to differentiate their product offerings. Vehicle manufacturers and suppliers are placing increased focus on lighting technology, which has led to greater innovations in exterior lighting. Several superior technologies such as LED, HID, and xenon are driving the Automotive Lighting market in the US.
“The incorporation of LED technology in automotive lighting considerably reduces CO2 emission and fuel consumption and provides better visibility, more efficiency, longer life span, and flexibility,” says Faisal Ghaus, Vice President of TechNavio Research.
“Increased innovations in the technology have led to the development of OLED, which is a new revolution and offers new opportunities in lamp and luminaire design.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
