Automotive LED Bulbs Market, Forecast to 2030 - Dominant Players are SG Automotive, Hella, KOITO, OSRAM, Valeo, Stanley Electric, Varroc, Koninklijke Philips, and Magneti Marelli
Major players in the market are SG Automotive, Hella, KOITO, OSRAM, Valeo, Stanley Electric Co, Varroc, Koninklijke Philips, and Magneti Marelli.
DUBLIN, March 4, 2020 /PRNewswire/ -- The "Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global automotive light emitting diode (LED) bulbs market was worth $11.1 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 9.91% and reach $16.2 billion by 2023.
Major players in the market are SG Automotive, Hella, KOITO, OSRAM, Valeo, Stanley Electric Co, Varroc, Koninklijke Philips, and Magneti Marelli. In 2019, Asia-Pacific was the largest region in the automotive LED bulbs market.
The automotive light emitting diode bulbs market covered in this report is segmented by passenger car, light commercial vehicle and heavy commercial vehicle. The automotive light emitting diode bulbs market in this report is segmented by adaptive lighting into front adaptive lighting, rear adaptive lighting and ambient adaptive lighting. The automotive light emitting diode bulbs market in this report is segmented by sales channel into OEM and aftermarket.
Technological advancements in the automotive light emitting diode (LED) technology is expected to drive market growth. Some of the new technologies include AFS LED headlights, bend lighting headlamps and flexible OLED for vehicle lighting. For Instance, in 2016, car models BMW i8, Audi R8 LMX, and the BMW 7 Series were launched with laser full beam lighting technology with a range of up to 600 meters, double the range of standard LED headlights. Thus, increasing technology adoption is expected to drive the demand for advanced automotive LED bulb products going forward.
High cost of advanced LED lights has been a major challenge for the automotive LED bulbs market. As the efficiency and longevity of the LED bulbs is improving, manufacturing costs are rising due to less volume sale. Automotive LED lights are expensive than halogen bulbs used traditionally in automobiles which is restraining market growth. In 2019, the cost of an LED lighting bulb was $5/klm at package level (luminaires costs $20-$100/klm) whereas the cost of advanced LED lighting, OLED cost around $300-$500/klm at panel level.
With increasing awareness about global warming and carbon emissions, customers are increasingly using Organic LED, whose emitting panels are made of organic material. They can also be color tuned and are used to make light panels. For instance, car manufacturers BMW and Audi are using OLED taillights due to its flexilibility, efficiency and homogeneity.
In June 2018, Osram, a Munich based lighting manufacturing company, acquired BAG Electronics, for an undisclosed amount. With this acquisition, the company aims to strengthen its electronic component business. BAG Electronics, a subsidiary of specialty lighting manufacturer Trilux, manufactures electronic components for LED lighting, control gear for fluorescent lamps, and high pressure discharge lamps.
Key Topics Covered
1. Executive Summary
2. Automotive Light Emitting Diode (LED) Bulbs Market Characteristics
3. Automotive Light Emitting Diode (LED) Bulbs Market Size and Growth
3.1. Global Automotive Light Emitting Diode (LED) Bulbs Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Automotive Light Emitting Diode (LED) Bulbs Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Automotive Light Emitting Diode (LED) Bulbs Market Segmentation
4.1. Global Automotive Light Emitting Diode (LED) Bulbs Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
4.2. Global Automotive Light Emitting Diode (LED) Bulbs Market, Segmentation by Adaptive Lighting, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Front Adaptive Lighting
- Rear Adaptive Lighting
- Ambient Adaptive Lighting
4.3. Global Automotive Light Emitting Diode (LED) Bulbs Market, Segmentation by Sales Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- OEM
- Aftermarket
5. Automotive Light Emitting Diode (LED) Bulbs Market Regional and Country Analysis
Companies Mentioned
- Automotive Lighting
- Flextronics Automotive GmbH & Co. KG (formerly Sidler Automotive)
- Grupo Antolin Irausa S.A.
- Hella
- Hyundai Group
- Ichikoh Industries Ltd.
- KOITO
- Koito Manufacturing
- Koninklijke Philips N.V.
- Lichtsysteme GmbH
- Magneti Marelli
- Mercedes-Benz
- OSRAM
- SG Automotive
- SL Corporation
- Stanley Electric Co. Ltd.
- Toyota Motor Corporations
- Valeo
- Varroc
- Zizala Corporation
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