- The key vendors in the Automotive LED Lighting Market in the Americas 2015-2019 are Hella KGaA Hueck & Co., Koito Manufacturing Co. Ltd., Magneti Marelli SpA and Valeo SA.
London, 23 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Automotive LED Lighting Market in the Americas 2015-2019. The key trend upcoming in this market is the increased use of LED headlamps. LED headlamps increase occupant safety as they are powerful and provide constant high-light quality, which allows for illumination at longer distances. These headlamps also reduce energy consumption and improve the esthetic appeal of vehicles. The overall market is expected to grow at a CAGR of 25.26 percent during the period 2014-2019.
LED lighting is used for several application in segments such as residential, office, retail, hospitality, industrial, outdoor, and architectural. LEDs are highly efficient and moderately priced, which can address key issues such as energy crises, resource scarcity, and climate change. Thus, the use of LED lighting enhances safety in cities and productivity in offices.
“Many vehicle manufacturers are involved in associations with lighting manufacturers to supply lamps in their vehicles,” says Faisal Ghaus, Vice President of TechNavio Research.
“They are increasingly partnering with other businesses to develop products that are of better quality and more efficient.”
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.
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