Global automotive lighting market to increase at a CAGR of 5.39%

The global automotive lighting market has been estimated to increase at a compound annual growth rate (CAGR) of 5.39% through to 2015.

Key factors behind the growth in the market include the increase in automotive production and the growing potential in the emerging market. However, the increasing coat of raw materials could pose a challenge to the growth of this market.

The pace of vehicle production across the world has important implications for the growth of the global automotive lighting market. Automobile production will largely be observed in the Asia and European countries.

For instance, it is estimated that automobile ownership in China will exceed massively by 2020. Similarly, for India, automobile ownership is expected to increase in the coming years.

The global automotive lighting market is expected to witness increasing demand from fuel-efficient vehicles. According to the US Government, the sale of hybrid vehicles will account for half of the new Light Duty Vehicles sales in 2035.

It is further forecast that the number of hybrid vehicle sales is expected to increase tremendously by 2035. Thus, with the unconventional and hybrid vehicles becoming a mainstay in the future automobile market, the industry can find huge opportunities by developing efficient technology related to engine management

Key players dominating the global automotive lighting market include Hella Kgaa Hueck & Co., Koito Manufacturing Co. Ltd., Magneti MareIli S.p.A., and Valeo SA.

For more information on the global automotive lighting market, see the latest research: Global Automotive Lighting Market Report

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