With
the introduction of adaptive front-lighting systems technologies, rear
combination lamps, car electronics for both interior and exterior lighting in
automobiles has been far reaching developments. With the expanding LED
innovation and enhancing execution of LED lights, abundant customers start to
purchase LED lights for vehicle over bright and halogen lights.
Lighting
is a fundamental part in vehicles, assuming a vital part in car security. The
lighting system comprises of front, rear, side, fog and interiors lights. It
gives brightening to the driver and helps other vehicle drivers and pedestrians
making a course for identify the vehicle's position and size.
Some
of the major players operating in United States Automotive Lighting Market are
WESEM, Oracle Lightening, Magneti Marelli S.P.A, Stanley Electric Co. Ltd,
Mercedes-Benz, Hyundai Group, Zizala Lichtsysteme Gmbh.
Automotive
sector in the United States is anticipated to grow in the coming years, due to
rise in demand for automobiles and automobile component. Growing automobile
sales is expected to drive demand for US automotive
lighting market over the next five years as
well. United States Automotive Lighting market is expected to grow on the back
of growing automobile production and growing gross national income of the
country. Moreover, the country is the second largest automobile market across
the globe.
United
States houses 48 manufacturing facility of 13 different companies including
Ford, General Motors, Toyota, Nissan, Hyundai, Kia, Mitsubishi, etc., located
in 39 cities across 14 states.
Moreover,
automobile manufacturers in the United States produced more than 12 million
vehicles including passenger cars, commercial vehicles and two-wheelers in 2016,
witnessing a Y-o-Y increase of about 0.8% compared to 2015.
What
Drives the Unites States Automotive Lighting Market?
·
Growing
Vehicle Production in United States:
Vehicle
production in the United States settled at a CAGR of over 4% in volume terms
during 2012-2016. The increasing vehicle production across the country will
boost the demand for automotive lights as every vehicle either passenger car,
commercial vehicle or two-wheelers requires lights. So, as the production of
vehicle increases the demand for automotive
lights will also increase.
Source-OICA
· Download sample report: https://www.techsciresearch.com/sample-report.aspx?cid=1134
Growing
Vehicle Sales:
United
States fleet size grew at a CAGR of over 4%% during 2012-2016. Increasing
automobile fleet size is significantly factor expected to drive demand for automotive
lighting market of the country.
Source: OICA
·
Emphasis
on Vehicle Safety:
There
has been a continuous demand to serve the needs of the customers as well as to
meet the government mandates related to different safety measures in the United
States. In the favour of this fact, the OEMs are approaching to suppliers,
which are prepared to invest in new technologies to offer advance products
related to vehicle safety, such as lighting technologies. The suppliers and
OEMs, which can enhance vehicle safety through pioneering products and equipment,
gets a distinct competitive advantage over other players.
·
Growing
Gross National Income (GNI) Per Capita:
In
2016, the GNI per capita has been increased drastically since 2012. Growing
Gross National Income of the consumers in the country shows the increasing
purchasing and spending powers. More the income more will be the spending and
purchasing powers of the consumers. This affects the growth of the automobile
industry as people spends more on purchasing the automobiles which will further
boost the demand of the
automotive light industry.
Conclusion:
Unites
States is the
second largest automobile market across the globe and automotive Lighting market is expected to grow on the
back of growing automotive production and growing gross national income of the
country. Moreover, growing purchasing power of individuals results in expansion
of automobile lighting market in forecast period.