Automotive Lighting Market
Automotive Lighting Market Size And Forecast
According to Verified Market Research, Global Automotive Lighting Market was valued at USD 18 Billion in 2018 and is projected to reach USD 23.48 Billion by 2026, growing at a CAGR of 3.36% from 2019 to 2026.
Global Automotive Lighting Market Outlook
The high demand for the lights in developing economies owing to the growing consumer adoption of lights and increasing sales of an automobile. The increase in disposable income and increasing demand for advanced lighting is fueling the growth of the market. The factor such as rain, fog, dust, and snow are some of the reasons that are causing major accidents which is likely to boost the demand for the market.
In addition to this, the importance of lighting in an ambulance for signaling purposes coupled with the government initiatives for creating awareness about the use of proper lighting in the automobile is fueling the anticipated to propel the growth of the market over the forecast period. However, the major factor that is affecting the growth of the market unreasonably high retail price of the lighting system and the fluctuation of raw material prices are some of the major factors that may affect the growth of the market.
Global Automotive Lighting Market Competitive Landscape
The Global Automotive Lighting Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Hella, Marelli, Osram, Valeo, Continental, Hyundai Mobis Co., Ltd., Robert Bosch GmbH, Lear Corporation, Denso Corporation, and Lumax Industries.
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