Global Automotive Cabin Lighting Market 2018-2022
About Automotive Cabin Lighting
Automotive cabin lighting includes various light sources such as map lights, reading lights, door lights, glove box lights, visor lights, and dashboard lights that are used in a vehicle's cabin.
Technavio’s analysts forecast the global automotive cabin lighting market to grow at a CAGR of 3.12% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive cabin lighting market for 2018-2022. To calculate the market size, the report considers the revenue generated from the automotive cabin lighting.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Cabin Lighting Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive cabin lighting market: HELLA, OSRAM, Magneti Marelli, Bosch, Valeo, and KOITO MANUFACTURING
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is light emitting fabrics used for cabin lighting. Vehicle manufacturers have been developing various technologies for transforming cabin lights into safer and interactive modes of output rather than just illuminating the cabin space. Map lights and dome lights are mainly used for illumination purposes. However, vehicle makers are keen to introduce additional electronic features to create a sense of more cabin space, comfort, and visibility.”
According to the report, one of the major drivers for this market is Low cost of LED lighting systems. LED lights are the most economical substitutes for halogen lights in vehicles. They are not only energy efficient but also require much less maintenance than halogen and xenon lights. The substantial use of LEDs in various industries led to a decline in their prices by 2017, which increased their procurement by automakers in comparison to halogen or xenon lighting systems.
Further, the report states that one of the major factors hindering the growth of this market is High cost of xenon. Xenon-based lighting systems are increasingly being used by vehicle makers. They emit white light that resembles the color of sunlight. Moreover, xenon uses significantly lesser energy than halogen lights for operations. However, xenon is a rare earth element that costs roughly about $120 per 100g. Hence, its use in lighting systems significantly increases their production costs.
HELLA, OSRAM, Magneti Marelli, Bosch, Valeo, and KOITO MANUFACTURING