The demand for the global automotive exterior lighting market has witnessed significant growth in the exterior lighting sector, which mostly include front headlight or tail lighting. The lighting structure of an automobile consists of lighting and signaling devices, which are installed to the front, rear, and sides of the vehicle. This illuminates the roads for the driver, which increases the visibility, especially during the night time. Exterior lights play an important role in driver and pedestrian safety as daytime running lights (DRL’s) increases the visibility of a vehicle on the road. However, DRL’s do not illuminate the road; whereas, projector headlamps which are usually to be found in luxury vehicles emit brighter light. In addition, projector headlamps are gaining attraction in the market as they are less likely to blind other drivers because the light is directed downwards toward the road unlike the halogen lights that shines in the driver’s eyes. Leading lighting tech innovators have also stepped into the market due to a higher profit margin from exterior lighting segment.
𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 𝐇𝐞𝐫𝐞 – https://www.alliedmarketresearch.com/request-toc-and-sample/7480
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rise in disposable income coupled with the improved lifestyle of the people, emerging government regulations regarding road safety, and increase in sales of luxury vehicles drive the growth of the market. However, high cost of LED lights and low penetration of advanced lighting in economical vehicles are expected to hamper the growth of the market. On the contrary, evolution of exterior advanced lighting such as OLEDs is anticipated to provide lucrative growth opportunity as market investments are done in automation. Although, this trend of LED and OLED lights presents new pathways in the industry.
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Rise in disposable income coupled with the improved lifestyle of the people
Disposable income is the income which is left after deduction of all the taxes and social security charges. It is available to be spent or saved, and corresponds to increase in the purchasing power. Increase in purchasing power leads to rise in spending on lifestyle changes, which also include purchasing of vehicles. This is expected to boost the sales of the global automotive exterior lighting industry. Therefore, with an increase in spending power, the global vehicle sales are expected to increase; thereby, boosting the growth of the automotive exterior lighting market.
Key benefits of the report:
✅This study presents the analytical depiction of the global automotive exterior lighting industry along with the current trends and future estimations to determine the imminent investment pockets.
✅The report presents information related to key drivers, restraints, and opportunities along with challenges of the global automotive exterior lighting market.
✅The current market is quantitatively analyzed to highlight the global automotive exterior lighting market growth scenario.
✅The headlamps segment is expected to generate significant revenue in the automotive exterior LED lighting market during the forecast period.
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