India Automotive LED Market is projected to reach US$5.87 Bn in 2026, and grow at CAGR of over 12% during forecast period.
Lighting is a dynamic component in automotive vehicles, playing an important role in automotive safety. A lighting system includes lighting and signaling devices, which are placed at different locations such as front, rear, side, and interiors. Lighting provides clarification for the driver and helps other vehicle drivers and walking persons on the road to detect the vehicle’s position, direction of movement, and size. It also improves the visuals to both interior and exterior parts of a vehicle.
Based on technology, a market is divided into Halogen, Xenon, and LED. Usually, halogen, being a low cost and easily available technology, it was majorly used lighting technology. Halogen considered in the highest revenue generation in 2014 and expected to continue to dominate during the forecast period. The appearance of LED lights may witness an increased demand due to their low power consumption, longer life, and compact size. During the forecast period, LED technology is estimated to establish one-third of the total automotive lighting market, growing at the highest CAGR. The decreasing cost of LED lights is expected to further fuel its market growth.
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Being energy-efficient, lightweight, and having a small footprint is the new tendency in the automotive lighting sector. And this is possible due to recent technical innovations in the LED space. Because LEDs offer various benefits, they are being increasingly accepted in vehicles across the country.
A rising number of road accidents during bad weather conditions and night is the major concern among vehicle drivers. This has risen the demand for reliable and brightened automotive lights. So that, growing prominence over enhanced road safety through high-performance automotive lights has created need to develop advanced lights providing better clarification in the darkness.
Auto-makers such as Jaguar are implementing automotive LED into their autonomous cars with innovative applications and are identifying newer skills of an automotive LED. The company developed a prototype autonomous vehicle with two virtual eyes with the idea of making an eye contact with walking persons by road to ensure that they feel safe when they cross the road.
Most of the companies are focusing to introduce advanced LED lighting solutions as well as increasing their presence in growing automotive markets, with India being the key focus area. Operational costs are considerably lower in the country and coupled with fast-growing disposable incomes, it presents a productive market for automotive LED lighting. Manufacturers in the country could provide not only to domestic demand but also to export markets.
Many leading manufacturers of advanced lighting solutions for the automotive industry have set up new plants in India in the year of 2014-15. This is because most LED lighting modules use nominal power, which has a positive impact on a vehicle’s fuel efficiency and reduces its CO2 radiations. With ever-increasing fuel prices, fuel-efficient LED headlights are sure to attract the buyer’s attention.
Leading players are concentrating on developing innovative systems with cost-effective solutions. Expansion of LEDs in automotive lighting systems is expected to have a higher potential, with perfections in LED modules, and many more new technologies are arriving to the market, like organic LEDs (OLEDs) producing homogenous light. One of the largest market players, Osram has recently announced its new flexible OLED for automotive lighting systems. The above-mentioned factors might contribute to the expansion of the automotive LED light market.
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Key players operated in the automotive LED market includes Koninklijke Philips N.V., Phoenix Lamps Limited, Lumax Industries Limited, Osram Licht AG, GE Lighting, Magneti Marelli S.p.A., Koito Manufacturing Co. Ltd., Hella KGaA Hueck & Co., Valeo, Neolite ZKW Lightings Pvt. Ltd., AGS tools & components, Hesham Industrial Solutions.
The scope of India Automotive LED Market:
India Automotive LED Market by Technology:
India Automotive LED Market by Vehicle Type:
• Passenger Vehicles
• Commercial Vehicles
India Automotive LED Market by Sales Channel Type:
• Original Equipment Manufacturer (OEM) Product
• Aftermarket Product
India Automotive LED Market by Application:
• Front Lighting
• Rear Lighting
• Side Lighting
• Interior Lighting
• Fog Lamps
Key Players Operated in India Automotive LED Market:
• Koninklijke Philips N.V.
• Phoenix Lamps Limited
• Lumax Industries Limited
• Osram Licht AG
• GE Lighting
• Magneti Marelli S.p.A.
• Koito Manufacturing Co. Ltd.
• Hella KGaA Hueck & Co.
• Neolite ZKW Lightings Pvt. Ltd.
• AGS tools & components
• Hesham Industrial Solutions
MAJOR TOC OF THE REPORT
India Automotive LED Market
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: India Automotive LED Market
4. Market Overview
4.2. Key Market Indicators/definitions
4.3. Current Market & Future Potential/Emerging Propulsions
4.4. Market Dynamics
4.5. India Automotive LED Market Analysis and Forecasts, 2017-2026
4.5.1. India Automotive LED Market Size (Volume)
4.5.2. India Automotive LED Market Revenue ($US Bn)
4.6. Porters Five Forces Analysis
4.7. Market Outlook
4.7.1. Key Insights 1
4.7.2. Key Insights 2
4.8. Regulatory Landscape
4.9. Value Chain Analysis
4.10. Ecosystem Mapping For India Automotive LED Market
4.11. Technological road Map
4.12. List of Key Manufacturers
5. Import/Export Trade Analysis*
*Either at specific product level or nearest HS code specific
6. Pricing Analysis, 2017 (Benchmarking)*
6.1. Price Comparison analysis By Technology
6.2. Price Comparison analysis By Vehicle Type
6.3. Price Comparison analysis by Sales Channel Type
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